India’s travel and hospitality companies are seeing subdued demand for the quarter starting October, traditionally a high-growth period for the industry.
The situation is worsened by India’s airline crisis, which has resulted in a hike in air fares, and a glut of hotel rooms in India’s major cities, causing a fall in occupancy as per a report in the Mint.
The peak season for travel and hospitality companies, which starts in October and continues till March, includes the year’s major festivals such as Diwali, Christmas and New Year. “Tour operators and hoteliers have reported a decline in leisure and business travel for the current quarter because of slump in global economy,” said Praveen Chug, vice-president, Travel Agents Federation of India (TAFI).
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