Chennai (IANS): A steep fall in occupancy ratio in the wake of the global slowdown and tight competition among hotel operators in a shrinking market have brought down hotel room rents drastically across the country, say industry officials.
"The average occupancy ratio across the country is around 50 percent, which has brought down the room rent by 25 percent. The hotels may revise their printed rates this September-October," M.P. Purushothaman, president of the Federation of Indian Hotels and Restaurants Association of India (FHRAI), told IANS.
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