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MoT
Sleeping Over Dual Tariff: RBI
The
Reserve Bank of India (RBI), has made a strong statement against
the Ministry of Tourism’s (MoT) inability to enforce the Foreign
Exchange Management Act (FEMA) 1999, as the country’s hotels,
monuments and airlines continue to violate the act which bans the
levying of a dual tariff.
Govt-Pvt
Sector Interaction Must To Boost Hospitality: WB Chief Minister
The
recently concluded annual convention of the Indian Association of
Tour Operators (IATO) held at Kolkata focused on greener pastures
in Indian tourism and hospitality industry.
IT
Majors To Boost Hospitality Industry In Bangalore
With
a visible increase in the number of multinational software companies
and consulting firms establishing their offshore operations and
R&D bases in the silicon valley of India, industry analysts
are optimistic that Bangalore will reign supreme in the Indian hospitality
Industry in the coming years.
Entertaining
Guests Finds New Priority For Hospitality Industry
Entertaining
guests has become a serious issue in the highly competitive hospitality
industry, which off late has been faced with a slump in business.
Taj
Eyes Properties In US, China
Indian
Hotels Company Ltd which operates the Taj Group of hotels and owned
by the Tata Group aims to establish its presence in the United States
of America and China as part of its new growth plans.
Business
Buzz
Harilela
Group Vies India As Future Market
The
Hong Kong based Harilela group, has expressed its desire to acquire
or launch a property in India in the near future.
Batra
To Invest Rs 25 Crore In Centaur Hotel
Centaur
Airport Hotel will soon be rechristened Radisson. Batra Hospitality,
the new owner of the five star property in Western suburbs will
be investing around Rs 25 crore to refurbish the hotel. Built on
30,000 square metres, it has 300 rooms, five restaurants and three
banquet halls.
Cendant
Corporation To Reduce Valuation Of Mortgage Servicing Asset Company
Cendant
Corporation announced that it’s earnings will be reduced by
approximately $175 million, or $0.17 per share, in third quarter
2002 due to a non-cash write-down of the carrying value of its mortgage
servicing rights (MSR) asset, which is the capitalized value of
expected future servicing earnings.
AH&LA
Supports Tip Tax Fairness Act
The
American Hotel & Lodging Association (AH&LA) applauded the
introduction of the Tip Tax Fairness Act in US of A. The proposal
would reverse the adverse effects of the U.S. Supreme Court’s
June decision in United States v. Fior d’Italia.
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