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Uncertainty looms for small businessmen

the goan I network

PANAJI

Small and medium tourism entrepreneurs have their fingers crossed over their prospects as they begin girding up their loins to face the challenges of yet another tourism season amid not so encouraging macro indicators.   

 Of particular concern to the smaller hotels is the collapse of leading travel firm Thomas Cook, which according to sources in the industry feeds this segment an occupancy of approximately three-lakh room nights each season.  

Serafino Cotta, a hotelier from South Goa who heads an association of small and medium hotels, said Thomas Cook was expected to bring in over 60,000 tourists from the United Kingdom this season.  

“In a single day, the 

development has dealt a death blow to many small and medium hoteliers,” Cotta said, adding that over 70 

per cent of the guests Thomas Cook serviced went to the small and medium segment.  

These entrepreneurs have now pinned their hopes on the idea of the ailing national carrier Air India filling the vacuum left by the Thomas Cook fiasco.  

Chief Minister Pramod Sawant has stepped in to pitch with the Centre a proposal for Air India to introduce regular flights on the London-Goa sector to compensate for Thomas Cook going bust.  

Cotta said a delegation had met Sawant last week and expressed hope that the chief minister’s efforts will bear fruit.  

A high level meeting between officials of the Civil Aviation Ministry and those of Tourism Ministry is scheduled in Delhi on Monday. On the table for discussion will be the proposal to get Air India operate a flight exclusively on the London-Goa sector on a daily basis.   

Meanwhile, the first charter of the new season is expected to touch down at Dabolim on October 4 from Russia. ‘Royal Flight’ a charter airline based in Russia is facilitating the flight in a tie-up with Caper Travel Company. 

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Madgaum Urban Bank gets nod for merger with TJSB

The Goan Network
Published Sep 30, 2019, 3:14 AM IST
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the goan I networkMARGAOAmidst uncertainly over the very future of the bank ever since it came under the Reserve of Bank (RBI) scanner in May last, the annual general body meeting of the Madgaum Urban Co-operative Bank Ltd on Sunday gave its green signal to the MUCB Board to set in motion the process to merge the bank with the Thane Janata Sahakari Bank (TJSB), with the merger bid with the Punjab and Maharashtra Cooperative Bank coming a cropper.    Anxiety…

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