The MD and CEO shares the business recipe that helped him drive a turnaround at IHCL which was wallowing in loss when he took over in 2017
With high-profile events like the Aero Show and the World Audio-Visual & Entertainment Summit, both in Bengaluru, and the Maha Kumbh, the industry sees a promising year ahead. Also, premium room rates in India are still cheaper, compared to the rest of the world, say industry executives.
A defining feature is the rising presence of realty developers and private equity backed hotels that are seeking to list
Existing luxury hospitality stock represents only 17 percent (29,000 keys) of the overall Indian branded hotel inventory, and there’s also headroom for growth in the ARR.
High inflation could squeeze profitability though
The moment the home delivery option was turned on, it freed up restaurateurs to think beyond their pre-existing menus. The field was wide open.
Wanda group Chairman Wang Jainlin, who yesterday met Prime Minister Narendra Modi, held discussion with top officials of DLF - India's largest realty firm - to explore possible joint venture for the township.
Leela Palces, Hotels and Resorts on Monday ended its 25-year old alliance with Kempinski Hotels. The Leela said in a statement that the agreement will allow it to further consolidate its network, while facilitating Kempinski's direct entry into the domestic market.
After the launch of three international brands last year, the Taj Group is the latest to open doors of its 5th property in Chennai - The Gateway Hotel. With this latest entrant, the city now has over 28 branded hotels.
Raymond Bickson is trying to change the Taj hotels' operating model, but first the chain will have to learn to get out of its comfort zone.
Bangalore will house 20 new luxury hotels within the next three years, with real estate developers betting big on the hospitality sector making a comeback post the 2008 slowdown. But obtaining project funding might still not be an easy task, reports Vineetha Athrey of CNBC-TV18.