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:- 13th June 2008
Tags: Real Estate
