Mumbai, Apr 5 (PTI) With the hotel supply going slow in the country at present, the existing properties are likely to get a boost as the demand remain strong, hospitality consulting firm Hotelivate has said.
“Lot of projects are in the pipeline and will take time to become operational. Meanwhile, the demand has outpaced the supply, giving a boost to the existing properties. In financial year 2018-19, demand will continue to remain strong, which is a positive for the hospitality sector,” Hotelivate founder chairman Manav Thadani told PTI here on the sidelines of two-day Hotel Investment Conference South Asia (HISCA)2018.
Thadani further said that in FY18, the industry did well despite facing hurdles like the implementation of the goods and services tax (GST), demonetisation and liquor sale ban within 500 metres of highways.
“FY18 was a good year and this financial year the industry is expected to grow at low double digits,” he added.
According to Thadani, India could do better but due to the 28 per cent GST, it is losing out on business to Sri Lanka, China and South Asian countries, including Singapore.
He said the leisure locations and the capital cities will continue to grow.
Talking about skills availability in the country, Thadani said, even as the country is doing so much towards skill development, it’s not up to the industry standards.
“Even as the companies hire from hotel management schools, they again give intensive training to the candidates to fit into their standard requirements. So in many cases companies find it easier to hire people away from other hotels to meet their immediate needs,” he added.
Meanwhile, Hotelivate and US-based LW Hospitality Advisors (LWHA) have formed strategic partnership to market, promote and collaborate with each other across the North American and Asia Pacific regions.
“We are now poised to assist our respective clients in their growth strategies across the globe now. There are a vast pool of hotel owners, investors and developers in North America who are keen to benefit from the fast-growing opportunity set in Asia. Similarly, Asian investors see a lot of value in extending their reach to the west,” said Thadani.
Hotelivate is a hospitality consulting firm which provides assistance on asset management, executive search, investment advisory, professional skills development, project execution and planning, revenue management, strategic advisory and strategic alliances.
This is published unedited from the PTI feed.