In a world of complexities, it's always refreshing to receive a gift, especially from the government that can ease out few issues with taxation
In a world of complexities, it’s always refreshing to receive a gift, especially from the government that can ease out few issues with taxation. The recent GST announcement has brought some cheer amidst the hospitality and tourism fraternity of India. Investors feel this initiative will surely help simplify complicated matters as the hospitality sector is anyway burdened by many other permits and licences. The general sentiment within the industry is that the passage of the GST Bill brings in a new era in fiscal reforms in India and tax rates across India will be uniform. The consumers will benefit from this move and that input credit on GST ushers in a whole new world of taxation.
There definitely seems to be a certain sense of buoyancy in the industry, albeit coupled with caution. Keys Hotels is looking at robust expansion in India’s emerging cities and towns. Fairfield is looking at adding four more properties, in Indore, Amritsar, Jodhpur, and Belgaum in the coming months. They are confident about the market in Uttar Pradesh and believe that the state has a lot of potential in the hospitality space. They are keen to expand their brand in the northern states. Carlson Rezidor Hotel Group is also planning an expansion in the India market. Carlson Rezidor’s goal is to have 170 hotels in India by 2020.
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Apart from the expansion story, the industry is also ready to experiment with themes, designs and decor. The owners are getting closely involved with the look and feel of the property along with the brand’s team. The owner at Novotel Vizag, likes to be involved with the designing of the F&B space and invests personally in select artefacts and classics. The restaurant segment, especially the fine dining space, is highly creative when it comes to interiors and design. Our cover story highlights what’s happening in this space.