Expect a strong price correction in Q4, says ITC Hotels' Dipak Haksar

The markets have shown growth, especially on the occupancy side

ITC Hotels, the hospitality division of tobacco to FMCG conglomerate ITC, clocked revenues of over Rs14 billion last year. In the first half of FY19, the hotel business grew 16 per cent in revenue to Rs 7 billion. Dipak Haksar, chief executive, ITC Hotels and WelcomHotels, tells Ajay Modi that FY19 is going to be a year of strong growth, and tariffs are likely to see a substantial improvement in the fourth quarter. Edited excerpts:

How do you see FY19 for the domestic hospitality industry? Is growth in room rates following the occupancy?

The markets have shown growth, especially on