Hotel Association seeks govt’s assistance to revive hospitality industry

Hotel Association of India (HAI) has sought the Union government’s help to revive the hospitality industry, including by extending one-time restructuring of loans.

Topics

hotel | Hospitality industry

The Connaught from brand SeleQtions of The Indian Hotels Company is in the middle of the Central Business District at Connaught Place and reflects Delhi's cultural and linguistic melting pot

Hotel Association of India (HAI) has sought the Union government’s help to revive the hospitality industry, including by extending one-time restructuring of loans.

On Monday, an HAI delegation met Union Minister of Culture, Tourism and Development of North East Region, G Kishan Reddy and submitted recommendations for the revival of the industry, according to a statement.

In its representation, HAI highlighted the urgent need to infuse liquidity into the industry through means like an extension of moratorium, one-time loan restructuring, improved terms under the ECLGS (Emergency Credit Line Guarantee Scheme) and revised eligibility ratios under the resolution framework.

The association also sought policy changes like granting industry status to the hospitality sector. This will allow the hotel industry to avail benefits of low cost funding and tax benefits that are currently available to industries like ports and highways.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Tue, August 03 2021. 22:22 IST