Business travel shows bright prospects as the sector is all set to clock the strongest growth momentum in the January-February period which has very few holidays and even December will post extremely strong growth despite holidays kicking in, managing director and chief executive of Chalet Hotels said.
"We don't get a major rub-off from the holiday season but we've done extremely well during non-holiday season periods," Sanjay Sethi told CNBC-TV18.
Sethi claimed that the months of September and October were decent while November is stronger and hotel companies that rely on business travel are back on track.
Domestic travel is now 190 percent of pre-pandemic levels, Sethi said.
"Future of the industry looks extremely strong I'm very bullish both for the business and the leisure segment and we will continue to explore opportunities in the leisure segments as we continue to consolidate business in existing assets within the portfolio," he added.
According to Sethi, the company has a lot of assets in the pipeline as the capex spent is expected to come into play in three to fifteen months.
On impact from a slowing economy and fears of recession, he said that India would remain strong: "India continues to be a strong story and whilst I do expect some amount of impact I don't expect it to be material. So our growth on our portfolio will continue to be as strong it has been for the last three quarters now."
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