General Manager of Hilton Goa, anticipates positive reforms in the tourism sector, seeking standardization in offerings. With expectations for Union Budget 2024-25, hoteliers look forward to a more favorable tax structure and increased allocations, envisioning a boost for the tourism industry. He emphasized on potential reforms involving streamlined processes, improved infrastructure, and a consistent high-quality experience for tourists. Standardization aims not only to enhance overall appeal but also position India as an enticing destination, fostering growth and sustainability in the hospitality sector.
Furthermore, a lenient tax structure is anticipated to make hospitality services more accessible and appealing to tourists. Given the rise in outbound tourism and competitive global strategies, a relaxed taxation system becomes crucial to maintain India’s attractiveness to travelers.
General Manager at Hyatt Centric, Juhu, highlighted the challenges of operational costs in hotels, emphasizing the impact on people’s spending power due to inflation. Acknowledging the setbacks faced by the hospitality industry during the COVID-19 pandemic, she urged the government to address taxation policies, advocating for lower income tax to facilitate smoother business operations.
She also suggested tax relaxations on Leave Travel Allowances (LTAs) to encourage travel and tourism, providing a significant boost to the hotel industry. Additionally, she calls for an increased budget allocation for the industry to support its recovery.
General Manager of Radisson Blu Mumbai International Airport, positions the hotel industry as a significant contributor to the country’s economy, advocating for streamlined processes through a single-window approval system. He emphasized the need for easier loans to create more opportunities within the industry, urging an increase in budget allocation to Rs 3,000-3,500 crore. Reducing LTAs and boosting domestic tourism are also highlighted as key measures for the industry’s future success.
