With three blockbuster events unfolding in 2010, the Indian hospitality & tourism sector is the catchphrase for the world for this year. Marketers have to ensure that they milk this opportunity to unleash fast paced, sustainable growth
East India Hotels has earmarked a capital expenditure of Rs.350 crore till 2011; out of which, the company has already spent Rs.100 crore. Meanwhile, Marriott International Inc. is launching seven more hotels this year across India in the luxury, boutique and moderate segments. Similarly, Carlson Hotels has entered an agreement with a real estate developer to augment its luxury Regent Hotels and Resorts brand through the franchisee model. Not far behind are the international players, which are quite bullish, especially after the gradual recovery from the slowdown. Amari Hotels and Resorts, (a Thailand-based hospitality group) is pumping investments worth $44.1 million this year as part of its Indian expansion strategy. Peter Henley, President & CEO, Anari group exclaims, “The Indian travel market today is placed amongst Amari’s top ten business generating markets, presenting a positive increase of around 10% in terms of the overall sales growth.” In a similar vein, Singapore-based Alila group is busy these days scouting for local partners to add four more properties by the end of 2011. For that matter Ramee group, a UAE-based group has five properties underway for development this year along with a 2,50,000 sq. feet mall at Chennai. Even the government-owned India Tourism Development Corporation recently rolled out an ‘Ashok Alliance’ scheme, under which it will make private hotel companies and real estate players its franchisee partners under a three-year contract.
As the market for online travel bookings is projected to climb to $6 billion by 2010, these Online Travel Agents will corner close to 23% share of the total travel market. And the key driver for growth in this segment will be from bundled and accommodation products along with an increased involvement from retail channels. “This year we are logically injecting our funds and signing up more tie-ups to enable us to provide more value-added services,” says Madhavan Menon, MD, Thomas Cook (India) Ltd. But then, opportunities beget challenges also and those in the industry are well aware. “Year 2010 is definitely a very important year as there are three important events happening in this country and we have rolled out special packages for the same. But we think that in the travel industry, your front desk managerial activities matter a lot and if you can’t fulfill it properly your brand gets affected,” shares the spokesperson of Cox and Kings India Ltd.
East India Hotels has earmarked a capital expenditure of Rs.350 crore till 2011; out of which, the company has already spent Rs.100 crore. Meanwhile, Marriott International Inc. is launching seven more hotels this year across India in the luxury, boutique and moderate segments. Similarly, Carlson Hotels has entered an agreement with a real estate developer to augment its luxury Regent Hotels and Resorts brand through the franchisee model. Not far behind are the international players, which are quite bullish, especially after the gradual recovery from the slowdown. Amari Hotels and Resorts, (a Thailand-based hospitality group) is pumping investments worth $44.1 million this year as part of its Indian expansion strategy. Peter Henley, President & CEO, Anari group exclaims, “The Indian travel market today is placed amongst Amari’s top ten business generating markets, presenting a positive increase of around 10% in terms of the overall sales growth.” In a similar vein, Singapore-based Alila group is busy these days scouting for local partners to add four more properties by the end of 2011. For that matter Ramee group, a UAE-based group has five properties underway for development this year along with a 2,50,000 sq. feet mall at Chennai. Even the government-owned India Tourism Development Corporation recently rolled out an ‘Ashok Alliance’ scheme, under which it will make private hotel companies and real estate players its franchisee partners under a three-year contract.
As the market for online travel bookings is projected to climb to $6 billion by 2010, these Online Travel Agents will corner close to 23% share of the total travel market. And the key driver for growth in this segment will be from bundled and accommodation products along with an increased involvement from retail channels. “This year we are logically injecting our funds and signing up more tie-ups to enable us to provide more value-added services,” says Madhavan Menon, MD, Thomas Cook (India) Ltd. But then, opportunities beget challenges also and those in the industry are well aware. “Year 2010 is definitely a very important year as there are three important events happening in this country and we have rolled out special packages for the same. But we think that in the travel industry, your front desk managerial activities matter a lot and if you can’t fulfill it properly your brand gets affected,” shares the spokesperson of Cox and Kings India Ltd.
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Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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