Forging a sustainable future to achieve holistic milestones

The BW Hotelier IHA-2023, known as the Indian Hospitality Summit and Awards, had its 7th edition with the central theme of “Embracing the Future" at Pullman Aerocity New Delhi. The two-day summit was extremely successful in a holistic manner aiming at spreading awareness for a brighter tomorrow for the hospitality industry. 

One of the sessions, moderated by Zubin Saxena, MD & Area Sr Vice President - South Asia, Radisson Hotel Group, focussed on consultant insights and strategic views. Amidst many others, this one was very insightful and informative. Saxena started by questioning the fact that how technology might be the new normal in hotel operations, in the near future.

Mandeep Lamba, President (South Asia) at HVS Anarock stated that, “We have seen great growth post Covid, and the last two years have been phenomenal. The only hope I have is that we should not lose the human touch factor.”

He outlined the fact that automation and technology will play a huge role in the years ahead, but again, he hoped human contact will be at the same level as a lot of people will eventually get lonely, with the passage of time the way things are, as of now.

Lamba also mentioned that there is a very huge issue with talent in the sector, but he is hoping that in the hospitality industry at least, the industry doesn’t take that turn where people are checking into hotels and not seeing other people. Meeting people is going to be a luxury in the future, due to technology, as per his view.

Coming to the rates and growth in the business, and revenue and profits, they will fluctuate according to him. He mentioned that “Due to a host of external factors I feel there will be a slow-down for the next one year, but in the next two to three years there will be growth and a gradual pick up. Market capitalisation has gone over the roof."

Jaideep Dang, MD – India, Hotels & Hospitality Group, Jones Lang, Lasalle – India, had the opinion of the environment of the hospitality industry being positive as of now. “The ecosystem which is around us, is extremely positive and this should be taken into account,” he said.

Dang went on to say that on the investment side of the hospitality business there is a reason why it is growing and why the investment trend is flourishing for this short term of one year and is going to get even better in the next two to three years.

“The reason is the yields as hotel operators are providing to the owners. Therefore, the owners are compelled to build and do more,” he stated. He explained this further by saying that, “Broadly speaking, if I break the market into two parts, business and leisure, you will see the growth in the latter going down as seasonality is back, but business markets still have the potential to grow.”