However, future growth plan requires careful planning and execution due to cost, risk, and potential challenges. We currently have 24 hotels in the pipeline which are Regenta Resorts, Regenta Central and Regenta Place, aiming to open before September. Additionally, we have an ongoing international project in Sri Lanka. Predicting the exact time horizon when demand will surpass supply in the Indian hospitality industry is challenging, as it depends on various factors such as economic growth, tourism trends, government policies, and infrastructure development. However, I can provide some insights based on the general trajectory of the industry.
Economic growth and rising middle class: Expanding middle class with higher incomes leads to increased domestic travel and demand for hospitality services.
Tourism growth: Steady growth in domestic and international tourism due to government initiatives and infrastructure development.
Business and MICE tourism: India becoming a popular destination for business meetings, conferences, and exhibitions, driving demand for hotels and conference facilities.
Infrastructure development: Government investments in airports, highways, and tourism projects improve accessibility and attract more travellers.
Rising aspirations and travel culture: Growing inclination to explore new destinations and experience different cultures, supported by social media and online travel platforms.
Continued growth: Expectation of longterm growth in demand for hospitality services, dependent on economic growth, tourism trends, and industry's ability to meet evolving demands.
This story is from the February 2024 edition of Food & Health.
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This story is from the February 2024 edition of Food & Health.
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