Internship is a crucial first step into the Indian hospitality sector for most hospitality students in the country. The HVS internship study explores the perspectives of the different stakeholders - students, industry and academia - to understand the challenges faced by them during internship programs. Additionally, it also identifies the best practices and offers recommendations that can help make the internship program more successful going forward. Read our latest report to know more.
2020 was a challenging year for hotel transactions in India, with hotel transactions value in the country contracting by approx. 50% compared to the previous year. The uncertain market conditions and COVID-19 related restrictions suppressed M&A activity during the year as companies adopted a wait-and-watch policy.
India is known for its rich heritage and cultural diversity. Heritage tourism has the potential to lead the revival of travel & tourism sector in the country and collaborative efforts by the public and private sectors will be crucial going forward.
India's first post-COVID budget failed to provide any direct and immediate support to the Indian hospitality sector. However, the massive fillip given to other allied sectors such as healthcare and infrastructure will indirectly help boost the tourism and hospitality sector’s growth in the long-term.
This report provides a comparison of hotel room supply and demand generators for 10 key Asian cities across 6 Countries.
The growth of the Indian hospitality sector, a key contributor to GDP and employment, will fuel the economy in the post-COVID world, making a compelling case for the sector being granted infrastructure status – a long-pending request by key stakeholders – and the next frontier in the sector’s growth path.
Hotels need to come together and align themselves to the common goal of reviving the growth in the industry. They should think ‘long-term’ by promoting value-added services, targeting new customer segments or markets, and implementing cost optimization strategies instead of indulging in price wars, which can be detrimental for the growth of the sector. Brands can also play a crucial role in this by pushing the envelope on driving better revenue and rate management strategies.
In the last few weeks, demand for domestic leisure tourism has improved in India, which is a silver lining for the distressed and vulnerable Indian hotels sector. However, sudden changes in regulations are adding to the sector’s woes and may dampen the spirits going forward.
The Indian hospitality sector should adopt a collaborative approach as it embarks on the long road to recovery. Hoteliers should collaborate & integrate their efforts to find innovative solutions to the challenges in the sector and share best practices & learnings with the entire fraternity to not only help rebuild traveler trust but also to help the sector thrive in the future.
Before investing millions of Rupees of expensive capital, it is prudent to spend an insignificant fraction of the sum on Feasibility and ROI Studies for a hotel and/or a mixed-use project to help determine the viability of the project. The rapidly evolving consumer behavior and demand fundamentals are expected to make a professionally prepared feasibility study even more critical than ever before.