Different Strokes

The hospitality industry is booming in India. Travel and tourism grew 8.5 per cent in 2016, faster than in any other country, according to a World Travel and Tourism Council report. Tourism already contributes 7.5 per cent to the country's Gross Domestic Product (GDP), and is expected to grow at a compound annual growth rate (CAGR) of 16.1 per cent for the next five years, says a 2017 KPMG report. Not surprisingly, both local and global hotel chains are bullish about their prospects. The introduction of the Goods and Services Tax (GST), instead of the multiple taxes imposed on hoteliers earlier, has further encouraged them, even though hotels with room rates above Rs 7,500 per night have been put in the highest GST bracket of 28 per cent. Occupancy has