The economic slowdown and declining rupee have impacted the travel and hospitality sector but industry players are hopeful that the business will pick up from the second quarter of this fiscal.
“Business travel has been impacted because of overall economic scenario, which has forced companies to cut down on travel and advertising. Even air travel has become very costly,” Leela Palaces Hotels and Resorts Sales and Marketing Vice President Sanjoy Pasricha told PTI. Speaking on the sidelines of an event by Internet And Mobile Association, he, however, said leisure bookings continue to be strong. “We are hopeful that in the second quarter the overall business will pick up. We are hopeful to meet occupancy levels of last year and slightly higher average room rates,” Pasricha added. Commenting on the impact of the declining rupee on travel sector, Virgin Atlantic General Manager India Stephen King said: “People are concerned about the depreciating rupee. It has