Hotel rates decline in Bangalore
Bangalore may still be the country's biggest and busiest IT hub, but luxury hotels like Leela ventures are seeing a drop in room rates by 15-20 percent. That’s surprising for a city which sees 100 per cent occupancy for most of the year.It's not the technology slowdown, that's taking its toll. Hoteliers say Bangalore suddenly has more rooms to offer, as new hotels have come up and existing players have added capacity.
