Anil Chadha, Chief Executive Officer, ITC Hotels

The India growth story stands out as an indicator of the immense potential of Indian enterprises and the thriving business ecosystem which has helped power the economy and unlock various growth opportunities. The hospitality industry, which was in the throes of a crisis during the Covid-19 pandemic, has witnessed a tremendous bounce-back. At ITC Hotels, we pivoted to an ‘asset-right’ model some years ago that has proved to be successful, enabling us to strike a balance between managed and owned properties.

Recognizing the distinct consumer preferences, we launched two new hotel brands: Storii and Mementos, each tailored to cater to different audience segments and provide bespoke experiences. With the launch of these brands, we have also opened up the opportunity for owners of various properties to partner with us to enjoy world-class distribution, best-in-class loyalty programme benefits, and other inherent operational strengths and efficiencies. Foreseeing an increase in demand for premium hospitality experiences, we are significantly expanding our portfolio across both metro and Tier 2 cities.

We launched a number of properties across India and embarked on our international foray with the opening of ITC Ratnadipa in Colombo in April this year, followed by Mementos by ITC Hotels - Jaipur, demonstrating our dedication to showcasing India's rich cultural heritage and stunning natural landscapes. We have a strong and steady pipeline across various brands: ITC Hotels, Mementos, Welcomhotel, Storii, Fortune and Welcomheritage. Recent additions to our portfolio include Storii properties in Goa, Solan, Manali and Welcomhotels in Manali. We also launched WelcomHeritage in Prayagraj and Fortune Hotels in Bhaktapur (Nepal), Delhi, Khajjiar, Ekta Nagar and Hosur.

The emergence of recent trends promises exciting times for the Indian hospitality industry. The expansion of five-star hotels in India is being driven by increased travel demand due to rising incomes, improved connectivity, hosting of global events, and the government's focus on tourism. Expected to continue for a few years, this has led to heightened interest from investors and hotel chains, catering to both business and leisure travellers. Additionally, the emerging trend towards domestic tourism embracing various travel styles and a shift towards tier-2 and 3 cities has significantly contributed to this growth.

With its rich cultural tapestry, diverse ecosystems, and deep-rooted traditions of sustainability, India is perfectly poised to lead in offering regenerative travel experiences. ITC Hotels is exceptionally positioned to deliver these transformative journeys, thanks to our carefully curated offerings and the strategic locations of our properties. This allows us to provide guests with immersive experiences that not only rejuvenate the individual but also contribute positively to the environment and local communities.

Sunjae Sharma, Managing Director, India and Southwest Asia, Hyatt India Consultancy Pvt. Ltd.

As the domestic travel industry continues its upward trajectory in 2024, India's hospitality sector is undergoing a transformative journey. With modern travellers redefining their travel preferences, a wave of trends is ushering in an era of unprecedented opportunities and innovations nationwide. These are indeed promising times, and I foresee substantial growth over the next 5-7 years, with India emerging as a significant global player in the hospitality industry. 

India remains one of Hyatt’s top global growth markets after the Americas and China. In fact, Hyatt in India saw 33% year on year (Y-o-Y) growth in RevPAR in 2023, while this year it has increased by 14%, driven by strong occupancy and rise in average daily rates. We will continue to thoughtfully grow our presence across the country with a key focus on LLLLW—‘Loyalty, Luxury, Leisure, Lifestyle, and Wellness’ which aligns with the evolving demands of our target audience. 

Hyatt currently has over 50 hotels in Southwest Asia across nine distinct brands and we have already crossed the 10,000 keys milestone. 2024 will see a strong footprint expansion with 8 new openings and 1,200 new keys across leisure and city locations. There will be growth in brand footprint to over 55 hotels across leisure and business destinations in the Southwest region as brand portfolio expands with JdV by Hyatt as the ninth Hyatt brand in India.

The Hyatt Regency brand, which is a key growth driver for Hyatt in the region, will enter a new destination with the slated openings of Hyatt Regency Kasauli and Hyatt Regency Ghaziabad. The Hyatt Place brand is expected to enter three new locations in the region with Hyatt Place Aurangabad, Hyatt Place Haridwar and in a new country with Hyatt Place Dhaka Uttara (Bangladesh).

The Hyatt Centric brand will expand its portfolio with the expected openings of Hyatt Centric Hebbal Bengaluru and Hyatt Centric Ballygunge Kolkata. We are also bringing The Unbound Collection to India in 2025 with the Noor-Us-Sabah palace in Bhopal. The property is one of Bhopal’s oldest and most sought-after hotels. The property will undergo extensive refurbishment and is slated to debut as a 60-room heritage hotel in 2025.

We will maintain a balanced portfolio, ensuring thoughtful growth that aligns with customer demand and enhances our reputation as the preferred choice for guests. We are opening new properties in some of the most sought-after existing and emerging destinations and introducing new brands from Hyatt’s global portfolio, to meet the diverse hospitality needs of our guests across the region. By focusing on these strategic areas, we aim to sustain our momentum and contribute to India’s emergence as a significant player in the global hospitality industry.”

Suma Venkatesh, Executive Vice President, Real Estate & Development, IHCL

Indian Hotels Company (IHCL), India’s largest hospitality company, marks yet another year of accelerated portfolio expansion in FY’24 with 53 signings and 34 openings. Pacing ahead of its market guidance under Ahvaan 2025, IHCL achieves a portfolio of 300+ hotels including an industry leading pipeline of 90+ hotels.

With the pace of growth increasing year on year, FY’24 set new benchmarks with 53 signings, one contract a week. Of this, our recent strategic alliance with Tree of Life resorts contributed 14 new hotels to the portfolio.

This year we have signed new projects in international locations such as Dhaka, Bhutan, Nepal and Frankfurt. On the domestic front, key signings included large format hotels at international airports in New Delhi, Cochin and MOPA Goa. We strengthened our leisure and spiritual portfolio across locations like Alibaug, Bekal, Naukuchiatal, Ayodhya and Haridwar.

In FY’25, we will continue our signings momentum and open 25 new hotels.

With India’s rising affluence and growing appetite for travel, IHCL will tap into emerging segments with newer offerings like upscale full-service hotels. IHCL will introduce the re-imagined Gateway, a full-service hotel offering in the upscale segment, an ideal fit to capture growth opportunities in emerging micro markets in metros and Tier 2 and 3 cities. The brand roll-out starting with 15 hotels will commence with launches in Bekal and Nashik this quarter followed by destinations like Bengaluru, Thane and Jaipur. The brand will scale to a 100 hotels portfolio by 2030.

Our next phase of growth will also be marked by harnessing our existing partnerships for multi hotel projects.

Ajay K. Bakaya, Chairman, Sarovar Hotels & Director, Louvre Hotels India

The hospitality industry in India experienced a remarkable revival in 2023. Multiple economic factors contributed to the success and are expected to continue in 2024. Vengeance travel post-COVID, strong economic indicators, stable government, rising disposable income, improved infrastructure, better interstate connectivity, and pro-tourism government initiatives and policies have contributed to hospitality sector’s success so far.

Sarovar’s growth story, too, is riding on this positive sentiment and we hope to continue with renewed focus and be future-ready.

We witnessed favourable growth in 2023 and looking at a bullish 2024. With 10 hotel openings in 2023 and 20 to open in 2024, we have added significantly to our portfolio which stands close to 8,500 keys. Our pipeline includes 70 hotel openings in the next five years across India and international markets. With this kind of growth comes its own set of challenges, the key being the need for skilled manpower. To address this, we have started our own Management Trainee Program that will allow students to acquire skills via a fast-track route and gain employability with our hotels. We do foresee that this will prepare us and address a major part of our manpower requirement.

We have clear priorities when it comes to markets, segments, and brands we want to venture into, introduce and grow. We will continue to focus on Tier 1, 2 and 3 cities with business partners who share our passion and business objectives. There are opportunities for robust growth in the pilgrimage segment and we will strengthen our presence in this segment. From our international portfolio of brands, we will launch HOSHO this year and looking forward to expanding our footprint in international markets, particularly in Africa and Nepal.

While we are focused on our growth, we are also mindful of bringing value to our stakeholders. This needs continuous introspection and evaluation in areas where we see scope for improvement. We intend to make planned investments in training and technology to improve our business processes and productivity.

Economic stability is by far the most fundamental requirement for any industry’s growth. Multiple factors are playing a critical role and reinforcing positive sentiment and optimistic business climate for the Indian hospitality sector. Rising disposable incomes, infrastructure development, lifestyle changes and aspirations of the middle class, emerging tourist destinations beyond conventional destinations, technological advancements, and growing awareness of the environment are very positive indicators.

As a leader, my focus would be to prioritise delivering exceptional customer experiences by focusing on service excellence, personalisation, and guest satisfaction. Invest in staff training and development to ensure high standards of hospitality and guest engagement. Embrace innovation and technology to enhance operational efficiency, 
improve service delivery, and integrate sustainable practices into business operations to minimise environmental impact.

Zubin Saxena, Senior Vice President and Country Head, India, Hilton

India stands as the world’s fifth-largest economy, presenting Hilton with significant opportunities to extend our footprint into emerging cities and markets, and enrich our brand offerings. 

The travel and tourism sector is gearing itself for future-forward shifts. In years to come, hospitality will embrace a transformative shift, focusing on personalised experiences and sustainable practices. Slow travel and purpose-driven trips are gaining traction, with travellers seeking relaxation and wellness over hectic schedules.

India is poised to become the fourth largest global spender on travel by 2030, with the middle class, comprising 47% of its population, expected to have increased purchasing power, as reported by Booking.com-McKinsey & Company. This burgeoning segment will drive change in the way people travel.

We firmly believe that the long sunrise is here for Hilton in India, especially in 2024, with significant launches and signings on the horizon. India has seen Hilton deploy five brands across 26 hotels in the estate and intent is to triple the estate to include 75 trading and pipeline hotels in the coming years. We have major expansion plans for India from both a domestic and outbound perspective.

Building upon the strong growth and performance witnessed in 2023, Hilton’s business in India is shaping up to be our strongest yet, demonstrating remarkable resilience and continued expansion in 2024, surpassing pre-pandemic levels.

We continue to lead the industry as the fastest-growing hospitality company in Asia Pacific, and are rapidly expanding our presence. We plan to significantly expand our India portfolio with multi-brand expansion, new market entries, repeat signings with existing owners on the back of booming domestic travel demand. We have started 2024 strong, with at least three properties opening this year: DoubleTree by Hilton Bengaluru Whitefield, Hilton Resort & Spa Hyderabad, and Hilton Kathmandu. 

We will further bolster our presence with the opening of Hilton Garden Inn in Surat and Jabalpur next year. The signings of Conrad Jaipur and Hilton Lucknow also signal the strength of Hilton’s brand portfolio. The signing of Conrad Jaipur builds on last year’s announcement of our Waldorf Astoria brand launch, and signals our commitment to one of the most sought-after wedding destinations in Rajasthan.

Our flagship Hilton brand is also making great strides. This year, we will open our first Hilton in Kathmandu and Hyderabad, and we’ve just signed our first Hilton in Lucknow.

There is huge opportunity and scalability in the focused service segment, led by our Hilton Garden Inn brand. We continue to regionalise our brands, and are actively exploring the entry of even more brands, such as Hampton by Hilton and Spark. Hilton is also advancing towards strategic license agreements to scale effectively and quickly.

We aim to triple our footprint to 75 trading and pipeline hotels in the region.

Nikhil Sharma, Managing Director & Area Senior Vice President – Radisson Hotel Group, South Asia

India is poised to become the next big global travel market as it satiates every traveller’s demands, ranging from adventure to leisure. At Radisson Hotel Group, we endeavour to capitalise on this opportunity. With over 25 years of experience, the Group has solidified its position in India by becoming the second-largest international chain that possesses a deep understanding of its local hospitality landscape. 

Our focus remains on strategic expansion, with a target of adding 30 hotels annually. This includes strengthening our presence in Tier-1 cities such as Delhi NCR, where we are already the largest player while leveraging our first-mover advantage in Tier 2/3 markets and key spiritual destinations.

This success goes beyond bricks and mortar. India’s vibrant hospitality industry is fuelled by its talented people. Our greatest assets are our team’s unwavering commitment and ‘Yes I Can’ spirit. 

This dedication was recently recognised with the ‘Best Hotel Chain in South Asia’ award at PATWA 2024 and our Great Place to Work Certification in 2023 and 2024. With a diverse portfolio of 10 global brands, including nine operational brands in India—focus on country-specific brands and extensions such as Park Inn & Suites by Radisson and Radisson Individuals Retreats respectively—we offer something for every traveller. 

This strategic combination of brand strength, a focus on key growth markets, and a commitment to our people ensures Radisson Hotel Group is well-positioned to be the leading hospitality player in India for years to come.

Sudeep Jain, Managing Director, South West Asia, IHG Hotels & Resorts

We are witnessing a sharp rise in travellers’ preference for underleveraged and off-beat destinations. We have also been actively expanding our presence in secondary markets as well as several leisure destinations to cater to the rise in domestic and international travellers to these cities. We have signed hotels across our core brands in destinations such as Dehradun, Corbett Ramnagar, Sakleshpur Western Ghats, Jalandhar, Udaipur, Kasauli and in key religious destinations such as Pushkar, Katra, Bodh Gaya and Amritsar.

2024 will continue to be a promising year for domestic travel. Due to remarkable strides and push by the government to build a solid network of connectivity, surge in weekend travel demand, and a boost in spiritual travel, the potential for growth has increased manifold. Moreover, Indian weddings and large social gatherings are back in an extravagant way and will continue to drive momentum for us. We are well-positioned to capitalise on the evolving market demand.

As a leader, the focus in the coming years will be on fuelling our growth ambition, innovation, talent development, and sustainability. By staying agile, innovative, and attuned to the needs of our guests, IHG is poised to play a significant role in shaping the future of hospitality in India.