In spite of an increased demand, Chennai may see a marginal decline in occupancy of hotel rooms with additional inventory being added in 2001-12.As many as 4,147 additional rooms are expected to be added next year , which is a 150 per cent increase over the existing supply of rooms.
So far, 664 hotels with a room inventory of 38,000 have been approved across the Tamil Nadu, Andhra Pradesh, Karnataka and Kerala.About 50 per cent of these hotels are expected to be in the three-star category. On a comparison, Tamil Nadu has the least number of 3-star hotels coming up at 22.Kerala has the most at 110.
Addressing a press conference, Mr.T.Nataraajan , CEO GRT Hotels & resorts ,said that the reason for the low number of 3-star hotels is that the real estate prices within the Chennai city have sky rocketed .Hoteliers find it more profitable to construct a 5-star hotel and thereby earn more revenues, he said.
To introspect and learn from the challenges and set backs of 2008-09, the India Hotels and Restaurants Association is organizing an annual convention on the December 7 and 8 at Thiruvananthapuram.
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