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Front Page

Wednesday February 24th
. Rail Budget 2010-11 - Didi's Janata Express, No Increase In Fares, Freight (0 comments)

Tuesday February 23rd
. Now, Multi-Storey Grave For Cadavers In Bihar Town (0 comments)

Monday February 22nd
. Slim Chance For Early Polls In State (0 comments)
. Bihar To Work For The Settlement Of Nomadic Tribes (0 comments)

Sunday February 21st
. Bihar's Economic Miracle: Real, But Fragile (0 comments)
. Excise Dept Targets Rs 100cr Addl Revenue (0 comments)
. 11 Power Plant Proposals Okayed (0 comments)
. 200 Posts Lying Vacant In Medical Colleges (0 comments)

Friday February 19th
. Japan Keen To Invest In Bihar's Buddhist Circuit (0 comments)
. CCS Approves Opening Of Army's Second Officers Training Academy In Gaya (0 comments)
. Bihar Govt Inreases Ex-Gratia Payment (0 comments)
. Nalanda To Be Developed As Tourist Hub (0 comments)

Tuesday February 16th
. Governance: RTI, Mum's The Word, The Centre Plans To Manacle The RTI Act (0 comments)

Sunday February 14th
. Online RTI Applications For NRIs! (0 comments)

Friday February 12th
. Bihar To Set Up Farmer Information Centres With Toll Free Numbers (0 comments)
. Fresh Rules To Discipline State Govt Employees (0 comments)
. Bihar PCC May be Reconstituted (0 comments)
. IIT Patna Gets Land (0 comments)

Wednesday February 10th
. Bihar Mulls Bill To Rein In Private Coaching Centres (0 comments)
. Special Courts For Corruption Cases In Bihar (0 comments)

Tuesday February 9th
. Bihari Youth To Develop Course Curriculum For US Varsities (0 comments)
. AMU's Special Centre In Bihar On Fast Track (0 comments)
. Season Of Hope For Congress In Bihar (0 comments)
. Low-Cost Ranchi IIM To Start In June (0 comments)

Monday February 8th
. Several Bridges In Critical Stage (0 comments)
. Why You Will Have To Live With SMS Ads (0 comments)

Sunday February 7th
. Bihar Seeks Reimbursement Of Amount Spent On National Highways (0 comments)
. Bihar CM For Centralised Procurement Of Arms, Ammunition (0 comments)
. India To Launch Helpline For Tourists (0 comments)

Friday February 5th
. Land Distribution In Bihar Highly Polarized: Report (0 comments)

Older Stories...

`Goodies` On Offer - Travel industry innovates to beat slowdown blues

Airlines are lowering fares and offering special schemes to passengers

Travel management companies are devising innovative holiday pack ages in an attempt to attract customers who have been headed for the exits since the economic slowdown began.

And in at least one case, they are playing to a much-feared asset these days--shares. Lifestyle Holidays, which is promoted by brokerage Bulls and Bears Finance Ltd, is offering to buy shares from travellers in return for packages. It accepts equity of 72 firms and is even willing to pay a premium for some stocks.

"There is one more catch as the capital markets are ruling low. We will buy the shares at 10% premium on the value that (they) were trading on the date the transaction was done. We are willing to buy shares of as many as 72 companies," Mandar Sahasrabudhe, assistant manager (operations) at Lifestyle, said.

Shares that Lifestyle is willing to buy include Reliance Industries Ltd, Reliance Communications Ltd, ICICI Bank Ltd, Jet Airways (India) Ltd, DLF Ltd, Colgate-Palmolive (India) Ltd and companies of the Tata group.

Source: Live Mint `GOODIES' ON OFFER - Travel industry innovates to beat slowdown blues

Click On "Full Story" For More...

By ugesh sarkar, Section Tourism
Posted on Mon Mar 02, 2009 at 02:02:37 AM EST
Other travel management companies are equally upfront about the fact that these are hard times, and they are doing whatever they can to pass on the benefits to consumers.

A promotional campaign from Kesari Tours and Travels Pvt. Ltd reads: "Oil prices down, tour prices down." Using this as a platform, the Mumbai-based tour management firm is offering discounts on international and domestic holiday deals.

The print advertisement of Lifestyle Holidays reads: "The global recession has come to our doorsteps. It's time to save, not spend. But what about that vacation you promised your family?" "Airlines, travel agents, on line travel agents and tour operators are offering freebies to their customers as slowdown has started affecting the market. Besides ensuring continuous revenue inflow, companies are trying to beat recessionary trends," said Sameer Patil, head of marketing at Arzoo.com, a city-based online travel agency, or OTA.

However, it is not just the private sector that is offering all the goodies; governments of countries that have large revenues from tourism are also pitching in with the effort to boost travel.

The Thai consulate in India is exempting visa fees on tourist visas and visas for medical treatment. Mint has reviewed a circular issued by the Thai consulate-general in Mumbai, dated 24 February.

"Earlier, Royal Thai Consulate was charging Rs1,400 per person (as visa fee). You can see similar attempts by various consulates to woo tourists," said an analyst who tracks hospitality and aviation, on condi tion of anonymity.

"Airlines, domestic and international, are also doing their best by lowering fares and offering special schemes.

As the travellers are cutting down their budget, these players are trying to beat the slowdown blues by offering free bies," the analyst said.

The promotions come as the domestic aviation industry has stumbled in the wake of the global downturn. Eight scheduled airline firms in the country, such as National Aviation Co. of India Ltd, which runs Air India, and SpiceJet Ltd, carried 12.78 million passengers between October and January, down from 15.35 million during the year-ago period. This period is considered to be the busy season in India as domestic travellers and foreign tourists travel for festivals such as Diwali and Christmas, and during winter vacations.

According to data from the ministry of tourism and culture, foreign tourist arrivals in January were 487,000, down from 591,000 in the same month a year ago, and 522,000 in December. The data attributed the decline in the number of foreign tourists primarily to the ongoing global slowdown.

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