I am often beset with mixed feelings when a year such as the one just passed, draws to a close. On one hand there remains the sour aftertaste of tumbling RevPARs, poor occupancies, and project delays and postponements.
On the other, the start of a new year provides the perfect opportunity to recap and re-strategise.
Let’s not get ahead of ourselves however. In my conversations with industry figures over the last month, the fact that 2009 was ending provided many a sigh of relief, as if moving into a new calendar was the same as moving into a new economic era.
The markets do not work like that, and, while it is right to look forward to all that can be achieved in 2010, we should not underestimate the work that will be required to steer back to smoother waters.
We should all learn lessons from 2009. Firstly, an economic ‘correction’ should never be used as an excuse to halt investment.
Major global brands present in India such as Starwood and Hilton continued with their expansion plans, and with the upturn on its way they will be far better positioned to take advantage than those who cut their costs and sat back to wait and see.
Secondly, don’t underestimate the local traveller. While in-bound tourism is a cache for the exchequer, many Indians are increasingly interested in discovering their country, and cheap air and even rail travel make them a perfect target for your marketing initiatives.
Finally, don’t wait for others to take the first plunge. Many of you may not know that 2009 was designated ‘Visit India Year’ by the Ministry of Tourism. The problem was, they decided this just weeks before the start of the year, in an attempt to off-set the impact of the Mumbai attacks in November. This gave no one any time to make the most of that idea.
So plan for 2010 and be hopeful. But be realistic too. Perhaps we should start planning now, for 2011 – Enjoy India Year?
Lessons learned?
(NULL)
I am often beset with mixed feelings when a year such as the one just passed, draws to a close. On one hand there remains the sour aftertaste of tumbling RevPARs, poor occupancies, and project delays and postponements.
On the other, the start of a new year provides the perfect opportunity to recap and re-strategise.
Let’s not get ahead of ourselves however. In my conversations with industry figures over the last month, the fact that 2009 was ending provided many a sigh of relief, as if moving into a new calendar was the same as moving into a new economic era.
The markets do not work like that, and, while it is right to look forward to all that can be achieved in 2010, we should not underestimate the work that will be required to steer back to smoother waters.
We should all learn lessons from 2009. Firstly, an economic ‘correction’ should never be used as an excuse to halt investment.
Major global brands present in India such as Starwood and Hilton continued with their expansion plans, and with the upturn on its way they will be far better positioned to take advantage than those who cut their costs and sat back to wait and see.
Secondly, don’t underestimate the local traveller. While in-bound tourism is a cache for the exchequer, many Indians are increasingly interested in discovering their country, and cheap air and even rail travel make them a perfect target for your marketing initiatives.
Finally, don’t wait for others to take the first plunge. Many of you may not know that 2009 was designated ‘Visit India Year’ by the Ministry of Tourism. The problem was, they decided this just weeks before the start of the year, in an attempt to off-set the impact of the Mumbai attacks in November. This gave no one any time to make the most of that idea.
So plan for 2010 and be hopeful. But be realistic too. Perhaps we should start planning now, for 2011 – Enjoy India Year?
Zee Zest Unlimit Awards 2024: A spectacular evening of excellence and glamour
Leisure Hotels Group introduces new ‘Sociotel’ concept
JM Financial Private Equity invests Rs 45 Crore in Energy Beverages Pvt Ltd
Fortune Hotels inks a new alliance in Palampur
Pride Hotels debuts in Punjab
One Rep Global inaugurates luxury roadshow, ‘One Edge’