Hotel Leela Venture Ltd has slashed room rates across key city business properties, but is yet to see a pick up in occupancy levels. The hotel chain has cut rates in its Mumbai property to about Rs 9,000 per room this year from about Rs 11,000-12,000 last year, Rajiv Kaul, Senior Vice President, Hotel Leela Venture, told Reuters.
Room rates in its Bengaluru hotels have also come down to Rs 11,000-12,000 from around Rs 15,000 last year, Kaul said. However, the lower rates have not yet translated into higher occupancies, Kaul said. “Occupancies are down compared to last year and business travel has been impacted by the global meltdown. India has been affected less than other countries,” he said |