In the last few weeks, demand for domestic leisure tourism has improved in India, which is a silver lining for the distressed and vulnerable Indian hotels sector. However, sudden changes in regulations are adding to the sector’s woes and may dampen the spirits going forward.
The Indian hospitality sector should adopt a collaborative approach as it embarks on the long road to recovery. Hoteliers should collaborate & integrate their efforts to find innovative solutions to the challenges in the sector and share best practices & learnings with the entire fraternity to not only help rebuild traveler trust but also to help the sector thrive in the future.
Before investing millions of Rupees of expensive capital, it is prudent to spend an insignificant fraction of the sum on Feasibility and ROI Studies for a hotel and/or a mixed-use project to help determine the viability of the project. The rapidly evolving consumer behavior and demand fundamentals are expected to make a professionally prepared feasibility study even more critical than ever before.
Hotels must consider outsourcing hotel outlets to standalone marquee restaurants that had made their mark in the pre-COVID era but are now facing an existential crisis. Read on to know more.
Efficient usage of technology will help the hospitality sector to improve profitability, while enhancing guest experience going forward.
Franchising provides an efficient growth model with lower risk for both hotel brands as well as asset owners, but it has still not gained significant traction in India. Read on to know more.
Mixed-use developments are going to be the most sustainable model for hotels going forward as they leverage the best of each asset class, while diversifying the risks for the investors and enhancing the overall experience for the guests. Read on to know more.
This article discusses the reasons why the Discounted Cash Flows method is considered the most appropriate hotel valuation methodology in a market like India. Read on to know more.
Luxury boutique hotels and resorts, which is still at a nascent stage in India, is expected to become an increasingly preferred choice in the post-COVID era. Read on to know more.
Strictly implementing SOPs with 100% accuracy and training our associates to live by those SOPs is the need of the hour. ‘Safety’ should be built into our hospitality DNA as that alone can help us rebuild trust and customer confidence.