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Author
The author is former CMD of ITDC and currently, Chairman of AB Smart Concepts, a firm which functions as an advisor to owners and investors and assists in concept to commissioning of hotels, transforming existing hotels and development of travel & tourism projects.
Foreseeing the financial crisis that might become a reality due to the price wars, Anil Bhandari, Chairman, AB Smart Concepts shares his opinion on how to deal with the current situation.
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Highlighting the need to develop a sustainable tourism and travel Anil Bhandari, Chairman, AB Smart Concepts encourages all to adopt certain habits for the preservation of natural resources, culture and heritage.
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With the commencement of Ayodhya's restructing into a tourism hub, Anil Bhandari, Chairman of AB Smart Concepts, suggests to build 'Tourism Parks' that will accomodate all tourist facilities and activities, which will be beneficial for all stake holders.
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Currently, according to WTTC estimates, 75 million jobs are at immediate risk with a staggering estimated one million people losing their jobs every single day. The research reveals a potential loss in Travel & Tourism GDP of $2.1 trillion in 2020 alone.
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India has the largest number of cuisines in the world. These need to be promoted so that India becomes the leading culinary destination internationally.
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Stress is not bad in small doses. It is a response to life’s changes, good and bad. It helps us decide how to react and adapt to new circumstances. But over time stress can take a toll on us, physically and mentally.
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Currently, the Indian wedding industry is over Rs. 100,000 crore and is growing at 25-30% annually. The estimated cost of a wedding with no expenses spared could be between a modest Rs. 5 lakh to a lavish Rs 5 crore. The country averages about 1 crore marriages every year. Even NRIs, impressed by the palaces and havelis, choose to experience a 'fairytale' wedding in India, and contribute to the Indian wedding industry.
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Hotels competing for higher occupancies by resorting to discounts and freebies resulting in lower ARRs are only harming their balance sheets. Beneficiaries of this competition are the corporates,
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India will need 180,000 additional rooms by 2020 to cater to 20 million tourists as tourism is expected to grow 12 percent per annum.
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