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Title: HIGH-PROFILE HOSPITALITY PROJECTS SHELVED
Tags: real estate
Blog Entry: Pune's booming hospitality sector, which had seen some high-profile announcements being made, has already witnessed a shakeout; with some high profile projects have quietly been shelved. But these are at the top end of the spectrum and industry maintains that Pune is a business or budget hotel city. While occupancy, the measure of viability, is around 65% in the business hotel segment, the expectation is that capacity addition to its existing 250 rooms will happen. At which point, a price correction is expected, as supply increases. Courtesy: ET dated: - 13 th June 2008

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