Market Reports

Indian Hotels upbeat about 2004-05

- The Indian Hotels Co. Ltd., owner of the Taj chain, expects average occupancy to rise to 75 per cent in the year to March 2005, helped by a recovery in tourism, a company official said on Tuesday.

There is all-round buoyancy in business and leisure travel. Tariffs have firmed up and must be about 10 per cent higher than last year," Ajoy K Misra, Indian Hotels senior vice-president, told reporters on the sidelines of a conference.

He said Taj would open properties by March in the tourist towns of Jodhpur, Gwalior and Kovalam, and in the Seychelles.

Source Reuters

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