NEW DELHI: “We can build a very big business in India because, fundamentally, it’s Indians (people of Indian origin) that have built most of the business in the US.” This, other than India’s rising financial clout, is making British hospitality main InterContinental Hotels Group’s (IHG) — which at current has over 6,300 properties operational globally with over 4,000 in the US, its greatest market, — wager massive on the nation.
IHG Hotels & Resorts CEO Elie Maalouf sees no motive its presence in India will not be at par or much more than its presence in China, presently IHG’s second greatest market with over 700 operational properties and virtually as many in the pipeline, in coming years. IHG has 46 lodges in India throughout 5 manufacturers like Six Senses, InterContinental Hotels, Crowne Plaza, Holiday Inn Resort and Holiday Inn Express and 49 extra will open in the subsequent three years.
“Nearly 60% of hotels in the US are owned by people of Indian origin. They are the single biggest force in America’s hotel industry, and also in the Canadian hotel industry. The largest proportion of owners for us and our large competitors are people of Indian origin in North America. Most of them have limited service properties. But many of them have moved up to upscale and full service properties… “… (This) gives me great confidence that we can build a very big business in India,” Maalouf advised TOI Wednesday.
IHG has been in India since 1965. The small presence since then for a corporation like IHG goes to alter now. “We’re ready to develop now on a much stronger level. The fundamentals of India are coming together in a very attractive manner. Very strong GDP growth. The burgeoning middle class; very strong infra development; biggest aircraft orders by Indian carriers and a propensity to travel in the domestic population which is just inherent to the culture,” he stated.
He gave the instance of China the place IHG has been pre4sent for 50 years and presently has 700 lodges and this quantity is slated to rise to over 1,300 in coming years going by present signings alone. “There’s no reason why India can’t be on the same trajectory. It will be one of our major markets around the world in the future. That’s just a function of time. The potential’s certainly there. Only its going to take some time,” the Lebanese origin US citizen stated.
Despite Covid, the hospitality chain’s India portfolio has elevated in the final 6-8 years from 15 to 46 lodges now. It has seen income per accessible room and occupancy grow by 30% and 12%, respectively, final yr over 2019. IHG presently has 6,300 lodges with 9.5 lakh rooms in 100 international locations, Hotels with an extra 2.5 lakh rooms are beneath improvement. Indians are massive prospects for all hospitality majors globally, together with IHG.
“Indians are the largest diaspora in the world and growing. The outbound Indian markets growing its project is growth from 20 to 80 million over the next 10 years. And as we build our relationships with them here in India, they will become customers of us wherever they go.”
What are the two issues most vital for the India market? “Food and beverage; and events,” stated the veteran of international hospitality who has over 35 years of expertise in the trade.
His expertise span throughout hotel improvement, branding, finance, actual property and operations administration and meals and beverage. Elie joined IHG as Americas CEO in February 2015. Under him, the area’s property has grown from roughly 3,700 lodges to greater than 4,350.
IHG Hotels & Resorts CEO Elie Maalouf sees no motive its presence in India will not be at par or much more than its presence in China, presently IHG’s second greatest market with over 700 operational properties and virtually as many in the pipeline, in coming years. IHG has 46 lodges in India throughout 5 manufacturers like Six Senses, InterContinental Hotels, Crowne Plaza, Holiday Inn Resort and Holiday Inn Express and 49 extra will open in the subsequent three years.
“Nearly 60% of hotels in the US are owned by people of Indian origin. They are the single biggest force in America’s hotel industry, and also in the Canadian hotel industry. The largest proportion of owners for us and our large competitors are people of Indian origin in North America. Most of them have limited service properties. But many of them have moved up to upscale and full service properties… “… (This) gives me great confidence that we can build a very big business in India,” Maalouf advised TOI Wednesday.
IHG has been in India since 1965. The small presence since then for a corporation like IHG goes to alter now. “We’re ready to develop now on a much stronger level. The fundamentals of India are coming together in a very attractive manner. Very strong GDP growth. The burgeoning middle class; very strong infra development; biggest aircraft orders by Indian carriers and a propensity to travel in the domestic population which is just inherent to the culture,” he stated.
He gave the instance of China the place IHG has been pre4sent for 50 years and presently has 700 lodges and this quantity is slated to rise to over 1,300 in coming years going by present signings alone. “There’s no reason why India can’t be on the same trajectory. It will be one of our major markets around the world in the future. That’s just a function of time. The potential’s certainly there. Only its going to take some time,” the Lebanese origin US citizen stated.
Despite Covid, the hospitality chain’s India portfolio has elevated in the final 6-8 years from 15 to 46 lodges now. It has seen income per accessible room and occupancy grow by 30% and 12%, respectively, final yr over 2019. IHG presently has 6,300 lodges with 9.5 lakh rooms in 100 international locations, Hotels with an extra 2.5 lakh rooms are beneath improvement. Indians are massive prospects for all hospitality majors globally, together with IHG.
“Indians are the largest diaspora in the world and growing. The outbound Indian markets growing its project is growth from 20 to 80 million over the next 10 years. And as we build our relationships with them here in India, they will become customers of us wherever they go.”
What are the two issues most vital for the India market? “Food and beverage; and events,” stated the veteran of international hospitality who has over 35 years of expertise in the trade.
His expertise span throughout hotel improvement, branding, finance, actual property and operations administration and meals and beverage. Elie joined IHG as Americas CEO in February 2015. Under him, the area’s property has grown from roughly 3,700 lodges to greater than 4,350.
