BENGALURU: To help the hospitality sector that was hit by Covid, the State Government has decided to give industry status to big hotels. Tourism Minister CP Yogeshwara on Saturday said the decision will give a boost to the tourism sector too. Small hotels, however, will not get the tag.
The Hotel Association of India (HAI) thanked the State Government for according the status. The decision will enable hotels to avail benefits in electricity tariffs, property tax, refinancing of existing debts, hassle-free loans at subsidised interest rates, taxation and simplified approval process for hotel projects, the association said.
Somnath Mukherjee, member of Karnataka State Committee, HAI, said the hotel sector will benefit from the ‘industry status’. It will help in the long run and unlock its immense potential to make a significant contribution to the State’s GDP and jobs, helping the post-pandemic economic revival of the region, he stated.