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25.08.2023 - 13:48 / skift.com / Asia Pacific / Anthony Capuano / Alan Watts / Mark Willis
Last week three international hotel chains announced the debut of their luxury brands in India. Hilton’s Waldorf Astoria and Minor Hotels’ Anantara brand are set to make their India debut in Jaipur, while Radisson has picked Hyderabad for the launch of itsRadisson Collection brand. Marriott International CEO Anthony Capuano said last week that the hotel group has a lot of room for growth in the luxury segment in India. Speaking at the Hotel Investment Conference — South Asia in Bengaluru last week, Capuano said Marriott is still in the early stages of developing its luxury industry portfolio in India and will continue to concentrate in this area in the future.
Fairmont Hotels & Resorts also announced last week that it would be opening a property in Agra in 2025. Fairmont is gaining momentum in India, with four exciting new properties under development. “With Agra on the horizon, the brand will complete India’s northern Golden Triangle, alongside Jaipur and Udaipur,” said Mark Willis, CEO of Fairmont Hotels & Resorts.
Fueled by the increasing number of high-net-worth individuals and the rise of the middle class, luxury travel in India is a growing segment of the tourism industry. The number of millionaires in India are projected to grow from 796,000 in 2021 to 1.6 million by 2026, as per a Credit Suisse report. The number of ultra-rich grew 11 times in the last decade in India, making it third in the billionaire population globally after the U.S. and China in 2021, as per a Wealth Report by Knight Frank.
Radisson Collection in India is expected to be operational by the second quarter of 2026. Set to launch in the fourth quarter of 2023, Anantara Jaipur Hotel and Waldorf Astoria scheduled to open in 2027, look to tap the weddings and events sector in India. “Weddings, meetings and events will be the primary focus of Waldorf Astoria Jaipur,” said Alan Watts, Asia Pacific president of Hilton to Skift. Indians spend about $130 billion annually on weddings, making the industry the fourth largest industry in the country, just behind energy, banking, and insurance, according to a report by The Economist.
Indian conglomerate Wadia Group is in talks with strategic partners to either sell a majority stake in loss-making budget airline Go First (earlier knows as GoAir) or completely exit, Indian media reported, citing sources close to the development. The airline posted its biggest annual loss in fiscal 2022 and has been facing operational problems in the last few months as half of its aircraft were grounded due to supply chain disruptions related to Pratt and Whitney jet engines, according to repots. Having infused around $366.2 million in the last 15 months to keep the airline afloat, the Wadia group is
Here are the top stories from the Daily Lodging Report newsletter in the past week. Get news on hotel deals, development, stocks, and career moves. Sign up here now.
Ramsey, an accomplished professional with academic achievements from the University of Surrey, City University London, and Cornell University in New York, contributes a wealth of two decades’ worth of experience in the premium hospitality sector.
From today’s Daily Lodging Report newsletter: Nikkei Asia published an article on Hilton planning to expand its luxury offerings in Asia. Hilton will be bringing its Waldorf Astoria brand to Malaysia, Vietnam, India, and other countries for the first time as part of its plans to open 25 new luxury hotels in the Asia Pacific region over the next few years. That’s up from the 33 luxury hotels it currently runs in the Asia Pacific.
American Express Global Business Travel continues to benefit from the ongoing rebound of business trips. In particular the reopening of countries in Asia Pacific, barring China of course, bodes well for the world’s biggest travel agency.
The absence of Chinese tourists as countries around the world opened their borders again remains the most impactful development this year. China’s commitment to zero Covid cases dashed the normalcy return hopes of the global tourism industry.
Cendyn, a software company that offers customer relationship management, digital marketing, and operations tools to hotels, has hired a new chief executive.
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Hyatt Hotels Corp., which enjoyed a blockbuster financial performance in 2022, forecasted Thursday continued success this year, especially in the first half. The company expects to benefit from growing consumer interest in its lifestyle, luxury, and resort properties, returning group reservations for its banquet halls, and an expanding room count.
American embassies are working around the clock to bring down the amount of time international travelers have to wait to get a visitor visa interview in order to travel to the U.S., according to Deputy Assistant Secretary of State for Visa Services Julie Stufft. The global median wait time for a B-1 or B-2 visa, also known as a visitor visa, has been reduced from 17 weeks in June to five weeks now.
Middle-income consumers paid premiums for hotel rooms as pent-up demand and savings boosted people’s taste for travel post-pandemic. Wyndham Hotels & Resorts, the world’s largest hotel franchisor — whose brands mostly target these consumers — enjoyed quarter-after-quarter of room rate gains throughout 2022.
As Radisson Hotels Group continues to expand internationally through its existing brands, its strategy is to focus on service quality and consistency. For Federico González, CEO of the hotel group, having nine big global brands is better than chasing a mass of weak brands.
India could rank among the top three markets for outbound travel in the coming years, according to Omri Morgenshtern, CEO of online travel platform Agoda said while speaking to media in India during his recent visit to the country. Indian travellers are increasingly becoming more important to many countries and will become second to China in terms of spending in Asia, he said. An earlier Skift article had reported how the time is ripe for India — which already ticks most of the boxes as a suitable candidate to take over from China as the largest travel source market — to enter the dragon’s space. In India, online travel booking is growing at a faster pace after the pandemic in comparison to other global markets, outpacing the Asia Pacific market, said Morgenshtern. The total transaction value in travel almost hit pre-Covid levels in 2022. “Since 2019, the rank of importance of Indian tourists for Thailand for example has risen from 10th to 6th. I expect it to become more important in the coming years, not only to Thailand but to many countries in APAC,” he added. Morgenshtern also sees a lot of potential for inbound tourism in India. While India’s inbound is growing slower than outbound travel, he believes it is going to see fast growth in the coming years.