Yet, every Mumbaikar either seems to be headed for the hills or the beaches, causing traffic to ease up in the city but hotel rates everywhere else to go through the roof.
Bertie was glumly reading a news piece about how room rates for the New Year's night had breached the million rupees mark for some of the palace hotels and villas. His glumness did not emanate from the unaffordability but from the realization that he sold his hospitality holdings too early.
In 2022, Bertie had caught on to the post-covid revenge travel theme quite early but after two blockbuster holiday seasons and an one-time demand lift from the G20 summit and the cricket world cup, he judged that the best of the earnings for the sector were behind and that hotel rates would normalize soon.
That does not seem to have happened as room rates have continued to march on. Bertie posed this question to a former luxury hotelier who answered in one word: "Supply." Bertie waited for elaboration. "Or the lack of it," continued his friend. "Just as demand for hotels stalled in covid, so did the construction of new properties. That means properties that were supposed to be delivered now will get delayed by a year or two."
Bu hikaye Mint Ahmedabad dergisinin December 23, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Mint Ahmedabad dergisinin December 23, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
DAM Capital IPO subscribed 82 times
The initial public offer of investment bank DAM Capital Advisors Ltd was subscribed 81.88 times on the closing day of bidding on Monday.
ICAI probing Byju's alleged audit errors
Chartered accountants' apex body ICAI (Institute of Chartered Accountants of India) president Ranjeet Kumar Agarwal on Monday said its disciplinary committee is investigating alleged auditing lapses at edtech firm Byju's.
Veteran filmmaker Shyam Benegal passes away at 90
Veteran filmmaker Shyam Benegal, who heralded the Indian parallel cinema movement in the 1970s and 1980s with films such as Ankur, Nishant and Manthan, died on Monday, his daughter Pia said.
Sriram Krishnan: US' new AI advisor
President-elect Donald Trump on Sunday named Indian American entrepreneur, venture capitalist and author Sriram Krishnan as senior white house policy advisor on artificial intelligence (AI).
First ONOE panel meeting on 8 Jan
The first meeting of the 39-member parliamentary panel on 'one nation, one election' (ONOE) is set to be held on 8 January, setting the tone for nationwide deliberations on the key poll reform measure of the Prime Minister Narendra Modi-led NDA government.
Non-life insurers' claim ratio falls
Net incurred claims to net earned premium (claims ratio) of non-life insurance industry stood at 82.52% during 2023-24 as against 82.95% in the preceding fiscal, as per the Insurance Regulatory and Development Authority of India's (Irdai) annual report.
Lohia Auto launches EV brand 'Youdha'
Lohia Auto on Monday announced the launch of EV (electric vehicle) brand 'Youdha', as part of its ₹20-crore expansion plans and said it looks to manufacture and sell 300,000 electric vehicles (EV) under the brand by 2027.
Xi digs in with top-down economic plan even as China drowns in debt
Xi Jinping is bracing for a showdown, sticking with economic policies aimed at making China the world's most powerful country
B'desh minister says country wants ex-PM Hasina extradited
Bangladesh-India ties took a hit after interim government led by Yunus assumed power
Trump threatens to take control of Panama Canal, Greenland
China has replaced the United States as the dominant trading partner in Latin America
