MUMBAI - As in all business cycles, the Indian hospitality sector is now trending upwards. Performance metrics like the Average Daily Rate (ADR) are showing positive signs of growth. However, the Supreme Court's ban on liquor sales and the call for prohibition in some of the cities have not only forced existing players to review upcoming projects, but also impacted proposed investments and M&A transactions. Added to that, the GST Council has failed to address a sector that generates maximum employment opportunities.
In the midst of this uncertainty, IDE Consulting Services, a real estate solutions provider based out of Bengaluru, India, hosted the 12th Edition Hotelier Summit on June 6 and 7 at the Hotel Sahara Star, Mumbai. The summit was designed to address the various challenges faced by the hospitality industry by bringing together leading hotel owners, operators, developers, architects, interior designers, consultants, industry experts and service providers.
High calibre speakers such as Mr. Mandeep Lamba, Managing Director - Hospitality & Hotels, JLL India addressed the elite gathering during his keynote address. He said, "I am delighted to be speaking at the 12th Edition Hotelier Summit India. The industry has seen a rough ride over an extremely long period and we are finally seeing signs of revival with most markets reporting a gradual upside in performance indicators over the last 12 to 18 months.
However, unexpected headwinds arising from the liquor ban and the GST criteria for 'luxury' hotels are once again threatening an already underperforming and shaken industry. We hope that through such industry forums, our voice of reason is heard by the decision makers on the various issues that throttle an industry, which is known to be amongst the highest contributors to the country's employment and foreign exchange earnings."
With such an elite gathering attending the initiative, IDE hosted the 3rd Edition of the Hospitality Leaders' Industry Choice Awards (HLICA) along with the summit. The HLICA celebrates and recognises the distinguished stalwarts who have contributed significantly to the hospitality industry, despite the headwinds pointed out earlier.
Ganesh Babu, Director of IDE and mastermind behind the initiative said, "This edition, we have brought together more than 200 leading hospitality companies from across the country representing thousands of hotel rooms. We notice that with each progressive year, the projects are becoming bolder and more grand, catering to the modern lifestyle. With the Hotelier Summit India and the Hospitality Leaders Industry Choice Awards, we can both facilitate the growth of the sector as well as recognize the key players driving who are taking those bold moves."
List of Winners: