How has the pandemic-led shutdown affected the hotel industry?
The current situation is extremely unfortunate. We have gone from being very optimistic (in January of what seemed like a wonderful 2020) to an incalculable disaster that seems to have no proper end in sight. This is a situation of survival of the fittest.
You seem overly pessimistic about the hotel industry…
The answer to this is a yes and a no. Yes, because some hotels/ companies may not make it to the other side. The debt burden will simply not allow them to survive, and while we have seen things come to an operational head, the same is yet to happen on the financial end.
The six-month bank moratoriums were helpful to an extent but with no additional government financial aid, some hotel owners may not be able to restructure their loans. That may mean the end of the road for some of them in the short term. I feel bad because other countries in the region have realized that tourism is one of the worst affected and have taken various steps to directly help hotel owners, employees, and also generated demand to encourage domestic travel.
No, because I believe every crisis helps us to learn a few things. Some hotel brands and operators are realising that they can be a lot more efficient. Those hotel companies that will get this right will be able to control costs a lot better and drive better profitability to their owners —which, in turn, will encourage more hotels owners to come up.
Which are the hotel brands that are doing a particularly good job at surviving, then?
I think some brands are doing a better job and others will ultimately play catch up. It would not be diplomatically correct for me to highlight any particular brand. Fortunately, I am not on any of our hotel conferences or the Manav Thadani Hot Seat, where I need to answer every question.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Why Western Couples Are Choosing India For Their Big Day?
Decoding the reason, and how to cater to them...
A Match Made in India
Director General of Tourism Mugdha Sinha's grand vision for wedding tourism...
Tee Off in Style
Hoteliers are giving golfing facilities a boost even as they offer putting greens that make the sport popular.
Bespoke Getaways: What Makes Them Desirable?
Boutique hotels are increasingly becoming the first choice among discerning guests as they provide meaningful breaks.
Blending Tradition with Innovation
The balance of honouring tradition while adding a dash of modern flair is what keeps the culinary scene fresh and exciting...
DON'T THINK, OUTSIDE THE BOX
The oft-quoted maxim, \"Think out of the box!\" does little to encourage creativity or innovation and often is their enemy.
Putting the Wow into Weddings
As hotels become the preferred venue choices for weddings, the industry is certainly shaking things up.
Innovation Is Not an Option but a Necessity
Emphasizing the need for the Indian hospitality sector to innovate and disrupt itself in the current transformative period.
Why Marriott built its GCC in India?
Drew Pinto, Executive Vice President and Chief Revenue & Technology Officer of Marriott International, tells Hotelier India all about finding the best talent in India...
FROM POTENTIAL TO POWERHOUSE
In an exclusive and candid interview with Hotelier India, Gajendra Singh Shekhawat, India's Minister of Culture and Tourism, speaks about how tourism and hospitality will power India's economy by 2047.
