Increase in travel and tourism sector affects hospitality industry in a positive manner. According to Mohit Makhija, Senior Director of Crissil Ratings, "Leisure travel had gained traction post the Delta wave last fiscal, while business travel has started picking up steadily after a much milder Omicron wave in January 2022." Augmentation in travel & tourism has boosted the demand in the MICE (Meetings, Incentives, Conventions and Events) segment of the hospitality industry.
According to Crissil Ratings Report there would be an improvement in international travel in the second half of this fiscal which, in turn, will strengthen hospitality industry's performance. According to Makhija, occupancy which was 68 per cent in 2020 would rise to 73 per cent this fiscal. The average room rate (ARR), due to the demand and supply equation, is expected to increase 8-10 per cent.
The report further adds that revenue will increase 23 per cent over the pre-pandemic level, riding on a strong recovery in business travel and continued traction in leisure travel.
Vishal Lonkar, General Manager- Business Development, Renest Hotels & Resort is of the opinion that the hotel industry would gain its sheen in 2023 and everything, from occupancy to ARR will improve mainly due to the domestic leisure travel. The international tourists business as well as leisure will also further rise.
According to India Brand Equity Foundation (IBEF), the Tourism and Hospitality Industry in India is growing at a robust rate. The travel market is projected to reach $125 billion by FY 2027 from an estimated $75 billion in 2020. The influx of international tourists in India is projected to reach 30.5 million by 2028. This is a reflection of the booming growth and potential of the hospitality sector in India, which is now rising, after the lull created by the pandemic.
Employment Potential
この記事は Hotel Business Review の May - June 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Hotel Business Review の May - June 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
"Leadership is not a License to do Less, it is a Responsibility to do More"
Amit Kumar Sharma is a seasoned hotelier with a career spanning 23 years. A graduate from IHM Lucknow, he began his career with Grand Hyatt, Delhi as a pre-opening team member from where he developed deep interest into the fast-paced career of Food & Beverage operations & management.
Fortunes Hotels Opens New Properties
The group announced the launch of Fortune Beach Resort ECR Chennai. Situated in the bustling, breezy East Coast Road (ECR), the upscale resort set against the serene backdrop of the majestic sea connects the cultural richness of Chennai with the picturesque landscapes of Puducherry, Mahabalipuram, and beyond.
Small Luxury Hotels Partner with The MRS Group Of Hotels
Small Luxury Hotels of the World (SLH) announced its expansion into the Indian subcontinent through a strategic partnership with The MRS Group of Hotels.
IHE 2024
Concludes With Setting Higher Goals
Housekeeping in Hotel Public Spaces
The work of the housekeeping department of any hotel or motel is the most unseen, but the most needed in many ways.
Redefining The Art Of Luxury Hospitality
Sheraton Grand Bengaluru Whitefield Hotel Convention Center
Training & Retaining Workforce for Hotel's Success
Success of a hotel depends on the manpower. Staff, from the receptionist, who is the first step of the guest towards his hospitality during the stay, to the attendant who handles his luggage during his departure, help in the guest being attracted by the property and compelling him to stay at the same hotel on his future trips to the destination. The employees, it may be said, are the backbone or the mainstay for a hotel's success.
Weddings: Increasing Hotel Revenue
The trend of wedding ceremonies and receptions being conducted in hotels has been increasing over the years. The eat, drink and be married” now has a tag attached to it, which is in hotels”. The result is that not only destination weddings but wedding, in general, are contributing to the hotel’s revenue in a great measure. The saying Marriages are made in heaven” now has an attached segment But expenses are borne onearth”. Hotels and resorts have been proving an attractive venue as compared to the other sites, like halls, for people of all categories. Ashok Malkani takes a look at the facilities and other plus points offered by hotels.
Heritage Hotels Heirlooms of Indian Tourism
A trip to the past in the modern world has a timeless appeal for travellers who are keen to immerse themselves in the cultural history of the destination by staying at a historic hotel itself.
A Tranquil Paradise! Radisson Hotel Jass Khajuraho
Sprawling in six acres in the midst of the vast open countryside with gentle undulating landscape and clean, fresh unpolluted air, Radisson Hotel Jass Khajuraho is a perfect union of classic design with subtle elegance.