Hotel industry sees brighter times ahead
September 19th, 2009 - 6:57 pm ICT by IANSChennai, Sep 19 (IANS) The hospitality sector is poised for brighter days after a bad year that saw its turnover falling by 25-40 percent, according to a hotel industry official.
“Prudent cost-control measures coupled with government initiatives like the Visit India campaign has helped the hotel industry,” South Indian Hotels and Restaurants Association (SHIRA) president M.P. Purushothaman said here Saturday.
“With the economy looking up, the hotel industry is going to benefit and grow to satisfying levels,” Purushothaman told reporters after getting re-elected as SHIRA president at the association’s annual general meeting.
According to him, revival signs were already visible, with the tourism sector’s foreign exchange earnings rising to Rs.50,730 crore in the fiscal 2008 from Rs.44,360 crore the year before.
Purushothaman also said that in order to boost the industry, the government should levy a four percent uniform luxury tax rate on actual tariff, exempt hotels from the ambit of service tax ambit and grant infrastructure status to the sector.
- Service tax rate raised by two percent (Lead) - Mar 16, 2012
- We're in dire straits: Kerala distilleries - Aug 19, 2011
- 35 new tourist circuits to be developed under 12th Plan - Dec 14, 2011
- Ajit Pawar presents marginally surplus Maharashtra budget - Mar 26, 2012
- Mukherjee's budget promises tax relief, subsidy cut, reforms (Fourth Lead) - Mar 16, 2012
- Service tax proposal retrogressive: Tourism expert - Mar 08, 2011
- Panel proposes hiking income tax exemption limit to Rs.3 lakh - Mar 09, 2012
- Dollar Industries eyes Rs.5 bn turnover in 2012-13 - Apr 05, 2012
- Realty industry has little to cheer from budget (Comment) - Mar 18, 2012
- Rationalise tax structure for aviation sector: Assocham - Nov 12, 2011
- Prominent highlights of 2012-13 budget - Mar 16, 2012
- Mukherjee puts money in one pocket, takes out from others (Roundup) - Mar 16, 2012
- Tax-free bond target for infrastructure projects at Rs.60,000 crore - Mar 16, 2012
- High taxes hitting food processing sector: Assocham - Nov 29, 2009
- Bengal lottery industry flays five-fold tax hike - Nov 28, 2011
Tags: ambit, annual general meeting, brighter days, crore, economy, exchange earnings, foreign exchange, government initiatives, hospitality sector, hotel industry, infrastructure status, luxury tax, restaurants association, revival, rs 50, shira, signs, tax rate, tourism sector, turnover
