Published on : Thursday, August 5, 2021
Hotel Association of India (HAI) met with the Union Minister of Culture, Tourism and Development of North East Region, Shri G. Kishan Reddy and intimated him about the status of the industry that still continues to be affected by the ongoing pandemic.
A delegation of the Association led by its Vice President, K.B. Kachru, Chairman Emeritus & Principal Advisor-South Asia, Radisson Hotel Group, also analyzed the issues that the industry is facing. M.P Bezbaruah, Secretary General; Jyotsna Suri, Corporate Member HAI and CMD, Bharat Hotels; Rohit Khosla, Member HAI & Executive VP, IHCL, and Charulata Sukhija, Deputy Secretary General, HAI also comprised the delegation.
The association stressed the urgent need for imparting liquidity in the industry via means like extending the moratorium, one-time loan restructuring, improved terms under the ECLGS scheme and revised eligibility ratios under the resolution framework. The association also requested considering the policy changes.
A large proportion of hotel operating costs are fixed, making them unsustainable under the current circumstances. “Industry” status will permit hotels to receive the benefits available to manufacturing like lower property taxes, land at subsidized rates, lower costs of utilities like power and water.