Panelists Salil Fadnis, HM, Sahara Star; Sachin Malhotra, GM, Novotel Imagica Khopoli; Sameer Sud, GM, The Leela Mumbai; Khan Mohammed Imran, zonal manager – Operations, Intellistay Hotels and Pankaj Wadhwa, DOSM, Sofitel Mumbai BKC spoke on 'The demand-supply gap in Indian hospitality industry' at the second GM's Conclave held at the 39th edition of EF&H Expo in Mumbai recently.
Kickstarting the discussion, Malhotra said, “Demand is a very sujective topic.Currently looking at India, there is too much talk on inflation and economic slowdown, etc. And the development growth rate coming down. However, the travel industry in the country is still developing because there is high demand and still too little supply. Most of the travel industry revolves around agility. We have worked with various internaitonally branded hotels, and this agility keeps the travel industry alive. We change our segments if there is a drop in the revenue share from one particular segment. You can change your market mix and selling opportunities but they still rise, so there will never be a complete stoppage. There is nothing to worry about, the hotel industry is going to keep moving at a good pace. In a year or two there will be a little drop but it will pick up again. The industry is in good shape. At the Novotel Imagica Khopoli, we recently added 171 keys, which itself shows that the demand is only rising for which the supply also needs to keep pace.”
According to Fadnis, demand and supply are very generic terms. It is just that the conventional methods of business get impacted. “Apart from that there are many other methods wherein we can generate the demand. There is a lot of demand and its just that we as hoteliers need to keep on finding avenues. When it comes to tourism, there are a lot of destinations in India that still need hotels, but are not developed due to lack of infrastructure. Whenever, one segment of business gets saturated, you look at the other segment and start generating opportunities from it. Hoteliers are creative people and they can create that demand,” he said.
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