Budget hotels, serviced apts sprouting fast
Mid-market hotel brands and serviced apartment chains are fighting tooth and nail for the keys to growth, and perhaps, the same customers.
Both segments are on an expansion spree to cash in on the slowdown that has thrown up good demand for cheaper hotel rooms.
The high average room rates (ARR), despite the current slump, have reduced hotel occupancies by 57% in cities like Bangalore, Hyderabad and Pune for star hotels.
More : dnaindia.com