"The Indian economy continues to grow at 6- 7 per cent for the next 6-7 years"

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. Patanjali (Patu) G Keswani, Chairman & MD, Lemon Tree Hotels, took the stage to speak upon Charting the Future: Future of Indian Hospitality. 

Keswani shed light on the growth expectation from the global hospitality landscape, he stated, “We're expecting $12 billion of sales for the full year, a five per cent year on year growth. We're expecting a bit more growth next year and the Japan market will be the one to watch out for”. 

“The Indian economy continues to grow at six to seven per cent for the upcoming years, then it is roughly like where China was in 2006. A very large number. Although the economy grew only 50-70 per cent in the next five years,” he added. “In India, the big challenge going forward will be having enough rules of quality, which to me says that the one and a half million unbranded rooms in India will need to be consolidated.”

Lastly he congratulated BW Hotelier, on completing a decade. He further emphasised the role of the media organisation in aiding the rise of the hospitality sector in India. “  It's brought together a lot of thought leaders from within and outside the industry. It's done events like this where we get to interact. Not only industry experts and CEO's, but also external experts at the government,” he said. 

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.