Leisure travel to reduce by 50-70%

AccordingA to Manoj Saraf, Chairman and Managing Director, Gainwell TravelsT and Leisure, demonetisation is a very bold move and hopefully willw bring about the right reform in the Indian economy. “More electronic transactionst will happen; online travel portals and travel companies primarily servicings corporate accountsa will be least affected;affe but leisure trav travel business and FIT business has come to a virtual standstill. I feelfe that the effect of demonetisationdem will last for at least two quarters. LeisureLeis travel will go downdow by 50-70 per cent and business travel by 30 per cent. Airlines and hotels will experience a large number of cancellations and under-utilised inventory. They will offer huge discounts and special deals to fi fill up empty rooms and seats. Hopefully things will start improving from AprilAp 2017,” says Saraf. He further informs that the company is planning tot undertake a big marketing exercise in February 2017 to kick-start the s summer holiday business and generate early bookings.