Bengaluru hotel room rates expected to rise 5% in 2020: Report

UntitledThe Hotel Monitor 2020 by American Express Global Business Travel (GBT), predicts that hotel prices in most key cities will experience only modest rises in 2020. Bengaluru is one of the top business destinations in India. Demand from business travellers will lead to rise in room rates by 5% in 2020, even as supply grows at double-digit rates. Ashish Kishore, Managing Director at American Express Global Business Travel India, said “India is leading the way in global technology advancements, which we’re seeing through the increase of business travel opportunities to Bangalore.” Joakim Johansson, Vice President, Global Business Consulting at GBT, said: “Despite signs that the global economy is facing challenges, the number of people travelling for business and leisure continues to grow. But, in most cities, a full hotel development pipeline means this sustained level of demand will not feed into big rate rises.”