Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
1-min read

Liquor Ban on Highways to Affect 30 Percent Premium Hotels: Crisil

The ban on alcohol sale within 500 metres of highways will impact up to 30 percent of premium hotels, with Pune being the most affected city, domestic ratings agency Crisil has said.

PTI

Updated:April 14, 2017, 11:46 PM IST
facebookTwitterskypewhatsapp
Liquor Ban on Highways to Affect 30 Percent Premium Hotels: Crisil
Image for representation only.
Loading...

Mumbai: The ban on alcohol sale within 500 metres of highways will impact up to 30 percent of premium hotels, with Pune being the most affected city, domestic ratings agency Crisil has said.

In a report, its research wing said it studied 12 top cities to analyse the impact of the Supreme Court's ruling, and found that nearly 30 per cent of premium hotels will be affected.

"We have assessed 384 premium segment hotels across 12 cities, of which 102 hotels stand affected, which means nearly 27 per cent premium hotels of the top 12 cities will be compelled to stop liquor sale," the note said.

Hotels in Pune, Kolkata and Agra will be impacted the most, while those in the financial capital and Goa will be less affected.

Hotels within the city will now pose major competition to premium segment hotels on the highway, it said.

This competition will not be restricted only to the premium segment hotels but will trickle down to the 4- and 3-star category as well, it said.

With liquor sales contributing up to 30 per cent of food and beverage revenues, Crisil said there will be a "hefty loss" in revenues, and added that there will be an indirect impact as well.

Revenues from other segments like the `meetings, incentives, conferences, exhibitions' (MICE) events, weddings will also be affected, it said, adding that there can also be a fall in room bookings.

"All these factors together will have a major impact onrevenue for the hotels on the highways and will also result in decline in profitability for the players," it said.

| Edited by: Bijaya Das
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 91.15 9.49
Reliance 1,280.50 2.52
HDFC Bank 2,297.25 -3.30
Bajaj Finance 3,246.60 -2.30
Interglobe Avi 1,519.20 3.84
Company Price Change %Gain
Yes Bank 91.15 9.49
Reliance 1,280.50 2.52
Interglobe Avi 1,518.15 3.74
HDFC Bank 2,297.05 -3.32
Bajaj Finance 3,248.55 -2.21
Top Gainers
Company Price Change %Gain
Yes Bank 91.15 9.49
Vedanta 167.25 3.72
Indiabulls Hsg 655.90 3.30
Hindalco 202.40 3.27
Zee Entertain 364.05 3.14
Company Price Change %Gain
Yes Bank 91.15 9.49
Vedanta 167.25 3.85
Asian Paints 1,402.00 2.49
Reliance 1,280.50 2.52
Maruti Suzuki 5,912.00 2.48
Top Losers
Company Price Change %Gain
Bajaj Finserv 7,162.45 -5.34
HDFC 2,186.90 -5.06
Eicher Motors 17,072.00 -3.35
HDFC Bank 2,297.25 -3.30
Kotak Mahindra 1,454.30 -2.98
Company Price Change %Gain
HDFC 2,186.60 -5.09
HDFC Bank 2,297.05 -3.32
Kotak Mahindra 1,453.65 -3.08
HUL 1,678.75 -2.67
Bajaj Finance 3,248.55 -2.21

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results