‘We have to be aware of diversifying the market in India’

The eighth edition of the prestigious BW Hotelier Indian Hospitality Summit & Awards (IHA 2024) hosted the BWH Development Roundtable: Shaping the future including industry veterans and experts, with moderator Roopa George, Senior Vice President, Hotels & Hospitality Advisory, Jll and panellists Omar Romero, Chief Development Officer and Luxury Officer, Minor Hotels, Dhruva Rathore, Vice President - Development, India & Southwest Asia, Hyatt along with Jacob Purackal, Senior Director, Development - South Asia, Hilton as well as Gaurav Sharma, Vice President - Development, IHCL and Devashish Srivastava, Senior Director - Development, South Asia, Radisson Hotel Group. Bhaskar MB Baruah, Chief Development Officer, ITC Limited - Hotels Division also gave his insights. They discussed the topic of innovative development strategies for Indian hospitality.

Romero stated, “We have to be aware of diversifying the market in India. For us, we will focus on keeping high-end luxury experiences in the country. We will also focus on creating strategic alliances as well as sustainability.”

He further added, “If we truly offer personalised experiences to the guests, we will be able to capture the market.”

Rathore added, “We have tremendous excitement for India and its prospects and have seen a strong performance across all lodging segments. There are great opportunities in India, with diverse ownership. The leisure segment and tier - 2 and tier - 3 cities have shown great potential as well.”

Purackal commented on site selection for properties, he stated, “The fundamental guiding principle for site selection is that hotels follow demand generators, for identifying the nature of those demand generators growth patterns and city trends become integral.”

Sharma emphasised on the importance of balancing the legacy of the brand as well as catering to modern needs, he notes, “One way to cater to the demand is by just being pure to the brand, also we have gone a step further with our ama brand. We cater to different needs and segments through our brands.”

Srivastava explained Radisson Hotel Group’s three pronged strategy, “We are selective, proactive and reactive. When it comes to the upper spectrum of the brand, we are extremely selective with everything. Then comes the second layer of the brands, these are high velocity brands for which we are extremely aggresive so, we are proactive and reactive.”

Baruah commented, “Beyond selecting the perfect site, we are now engaging in a journey to find the right partner with the right vision, where we can align the objectives.”

The two-day BW Hotelier Indian Hospitality Summit & Awards (IHA 2024) encompasses over 20 sessions where hospitality veterans and experts across the nation gather in order to provide diverse knowledge and insights. The Summit & Awards is a testament to BW Hotelier’s commitment towards revolutionising Indian hospitality by honouring the Crème de la crème of the industry.