The Mumbai hotels that cater to the city’s tourists and backpackers are facing an economic slump.
The Indian hotels and resorts that have been providing accommodation for many of these tourists have lost revenue, and the hotels that are still operating are losing money.
But the situation is only getting worse.
“In Mumbai, we have been losing money for the last 10 years.
We have lost all our revenue, which means the loss has been for 10 years,” said Shashank Joshi, who owns one of the hotels.
The hotel is currently paying the equivalent of less than 2,000 rupees ($3.50) per night, he said.
The loss of revenue has caused the hotel to close its doors.
The situation is “extremely bad,” he said, adding that he plans to close the hotel down.
“We are in a dire situation.
We are having to borrow money to stay afloat.
Our income has declined and it is not enough to survive,” he told Newsweek.
A large number of hotel operators have been shuttering their operations and the number of hotels in the city has been dwindling.
The hotels are being forced to turn to other sources of revenue.
“Many of the restaurants, restaurants that serve alcohol, restaurants catering to tourists, catering to backpackers, they are all closing their doors.
Many of them have been forced to close,” Joshi said.
In the past two years, the number on the ground has been declining, according to the Mumbai Tourism Board.
In 2014, the city recorded 1,934 hotels.
This year, there are only 1,723 hotels.
“Most of the operators are not making a profit.
The revenue from hotel is a very low one.
They are losing Rs 500 crore every month,” Joshj said.
Most hotels in Mumbai have closed their doors in recent years.
However, a few are still remaining open.
“There are a few hotels that have not closed down yet.
But they will be shut down in the near future,” Joshji said.
Many hotels that do remain open are located in Mumbai’s residential areas, which have a high concentration of tourists.
“Our mainstay is in the residential areas.
We cater to people from other parts of the city,” said Sajjad Ali, a hotel owner.
He said that the decline in tourism has affected the hotel industry in the last two years.
“Tourism has dropped dramatically.
In Mumbai, tourism has been very low,” he added.
In addition to hotel closures, other hotels in town are also closing their gates.
“The hotels have closed down due to low tourism, the increase in foot traffic,” said Abhishek Bhatt, president of the Mumbai Hotel Management Association.
“A hotel with 50,000-100,000 guests is not viable anymore.
The owners are trying to survive but they are not getting enough revenue.
The business has also been hit,” he explained.
In recent months, there has been a sharp increase in the number and severity of road traffic accidents in Mumbai.
The city’s roads are being regularly damaged by speeding vehicles, which is why accidents are more frequent.
According to a report by the Mumbai Development Authority, a total of 1,828 people have died in road accidents in the past year.
According the Ministry of Road Transport and Highways, there have been 4,835 deaths in road crashes in 2015, the highest number in five years.
As a result, traffic has become more congested, causing a decline in traffic flows and accidents.
“It is very difficult for people to move to the residential zones because of the high number of traffic accidents,” said Mohammed Abrar, president, Mumbai Development Board.
“If the traffic is going up, the hotels will have trouble attracting people.
They will be forced to shut down.
And that is the case,” he pointed out.
A major problem is the rising number of cars and trucks on Mumbai’s roads, as well as the increased number of pedestrians.
Many people have lost their jobs because of these changes, as have many businesses.
In January this year, the National Highways Authority of India (NHAI) announced a toll increase of 1.2 rupees per kilometre (0.2 miles) to increase the safety of the road for pedestrians and cyclists.
The increase was announced on the heels of the killing of a 23-year-old man in Mumbai last month who was struck by a bus, allegedly after trying to cross the road.
“What we have seen in the wake of the recent accidents has affected many businesses,” said Bhatt.
“People lose their jobs.
Many have to close down,” said Ali.
“At least 40 people have been killed and over 300 injured on Mumbai roads in the first six months of this year,” Bhatt added.
The Mumbai Tourism Authority is hoping that the government will take steps to curb the number, but it’s unclear how long the increase will be enforced.
“In the near term, the government is likely to increase ticketing fees