"It is all about Indian outbound tourism potential"

The eighth edition of the prestigious BW Hotelier Indian Hospitality Summit & Awards (IHA 2024) commenced with a tribute to Ratan Tata for his immense contribution to the hospitality industry in India. Hosted by Sidharth Kannan, the event was graced by Chief Guest Union Minister of Culture and Tourism Gajendra Singh Shekhawat and other industry dignitaries, veterans and experts. 

Nihat Ercan, CEO, Asia Pacific, Hotels & Hospitality, JLL took over the stage for a BWH Investment & Development Keynote on the topic of APAC Hotel Investment Activity - Trends and Forecast and graced with the numbers and stats from around the world. Delving into the topic of the Ministry of Tourism’s Vision for Indian Hospitality. The Keynote session discussed the vision of the ministry for the growth of the travel and tourism sector in India Ercan said, “In 2022, Indian outbound tourism recovered to 80 per cent of the peak, and the Indian traveller volume, at 26 million, was higher than China's. So, forget about China; it is all about Indian outbound tourism potential”. 

“We're seeing 21 per cent of all activity is basically private equity. So this is just the flavours of private equity investors buying, renovating, refurbished, rebranded, selling four to seven typically four to seven-year olds. 19 per cent corporates, 9 per cent developers and then 7 per cent high net worth,” he added.

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.