Sudeep Jain, MD, South-West Asia, IHG Hotels & Resorts, sees opportunity in launching global brands at the right time, with the right partners, and in the right locations
Sudeep Jain believes that the year gone by was a mixed bag of business. He claims that after the intensity of the second wave lessened, the situation improved further. Starting June 2021, we have seen an encouraging 30 per cent jump in the wedding average per coverage (APC) and a 25 per cent surge in residential weddings. Leisure destination travel demand has also recovered. Our InterContinental Chennai Mahabalipuram Resort recorded occupancy levels close to Q1 2020 levels in Q3 2021, along with a higher ADR. Our business performance has been quite strong in Q4 2021, with occupancy levels, in some cases, reaching above 2019 levels. Although the rates are still slightly reduced, we have witnessed a substantial surge in overall grossoperating profit, he adds.
Growth continues Jain shares that given the attractiveness of the tourism and hospitality sectors, they have progressed with their growth plans. “This year, we opened Holiday Inn Zirakhpur, Chandigarh, and Holiday Inn Goa, Candolim. We also signed Holiday Inn Express & Suites in Jalandhar, and we debuted Holiday Inn Express in Jaipur in October 2020. In addition, we announced the debut of our worldrenowned extended stay brand, Staybridge Suites, in India with the signing of Staybridge Suites Bengaluru Thanisandra. Furthermore, we launched our first Six Senses hotel in Rajasthan,” he reveals. Indian market When asked about the major developments in the industry in 2021, he says, “In the last couple of years, with restrictions on international movement, domestic travel has gained even more traction. Quick weekend getaways, staycations, and intercity vacations have emerged as key trends. Also, the concept of ‘intimate weddings and social events’ has played a crucial role in helping the industry move towards a stronger recovery. Food and beverage (F&B) has seen rapid growth since last year.”
Plans 2022 Jain shares that for this year, they are looking at a stronger recovery. “We expect domestic travel demand to continue to rise in 2022 and a further easing of international movement. We are optimistic about a stronger return of corporate travel. We are also enthusiastic about the emphasis on GOP for the owners as the hotel investment trading volume increases,” he reveals.
Jain concludes by saying, We also plan to continue with our growth momentum across the key Indian markets. Our mainstream portfolio will continue to drive this growth, but we also see opportunity in launching our global brands at the right time, with the right partners, and in the right locations. with our growth momentum across the key Indian markets. Our mainstream portfolio will continue to drive this growth, but we also see opportunity in launching our global brands at the right time, with the right partners, and in the right locations.
QUICK BYTE Our business has been quite strong in Q4 2021, with occupancy levels above 2019 levels
“We will focus on leveraging technology to enhance our offering to guests”