Mandeep S. Lamba
Indian Hospitality Sector – 2023 in Review
Mandeep S Lamba | December 18, 2023
By Mandeep S. Lamba, Dipti Mohan, Dhwani Gupta The year 2023 unfolded as a dynamic chapter for the global hospitality sector, characterized by a blend of challenges and successes. While the world grappled with extreme climate events, escalating geopolitical tensions, growing economic headwinds, and rising travel costs, the global travel industry witnessed a resurgence. According to the United Nations World Tourism Organization (UNWTO), the first nine months of 2023 recorded a remarkable 38% increase in international tourist arrivals (ITAs) compared to the previous year, albeit trailing by a modest 13% from the 2019 levels. The Middle East...
HVS Global Hotel Industry: 2023 Recap and 2024 Outlook
HVS | December 5, 2023
As 2023 draws to a close, regional HVS leaders across the globe take a look back at how the global hotel industry fared this year and opine on the outlook for next year. While the U.S. experienced muted 2023 RevPAR growth relative to 2022 gains, most other global markets recorded extraordinary RevPAR growth, well above 10%, primarily fueled by strong ADR gains. While transaction activity cooled across the Americas and Europe, the Asia Pacific saw a significant strengthening as this region’s markets moved beyond pandemic-era restrictions. United States By Rod Clough, President – Americas As 2023 ends, we look back on a year where hot...
Film Tourism As an Effective Destination Marketing Tool
Mandeep S. Lamba | March 28, 2023
By Mandeep S. Lamba, Dipti Mohan, Dhwani Gupta How wonderful it is when a film shows a city in all its glory! Sometimes when you see a place in a movie, you start wishing you were there exploring it. They have always been a great source of travel inspiration and have often helped increase tourism demand for the location, which benefits the hotels in the region. The global film tourism industry is expected to grow at a CAGR of 6.8% during 2022-32. A study found that the impact of films on tourism can be massive, increasing it by an average of 31%. It can go as high as 300% in some locations! For instance, all filming locations of th...
Indian Hospitality Sector – Crystal Gazing Into 2023
Mandeep S. Lamba | January 6, 2023
By Mandeep S. Lamba, Dipti Mohan The Indian hospitality sector is expected to see accelerated growth in 2023, in spite of ongoing global headwinds and the uncertainty brought on by the occasional COVID-scare. This will be driven primarily by buoyant domestic demand, the gradual revival of inbound travel, and the Indian government’s renewed emphasis on the expansion of the tourism industry, which is expected to contribute US$250 billion to the country’s GDP by 2030. The government also intends to release the National Tourism Policy soon to promote sustainable and inclusive tourism growth in the country. The hotel sector should develop s...
HVS Monday Musings: Indian Hotel Sector – 1H2022 Performance Review
Mandeep S. Lamba | August 1, 2022
By Mandeep S Lamba and Dipti Mohan The Indian hotel sector made steady progress in the first half of the calendar year 2022 (1H2022). Nationwide occupancy was in the 56-58% range, 21-23 percentage points (pp) higher than 1H2021, and only 8-10 pp lower than 1H2019. The strong recovery in demand is driving steady increases in average room rates, with hotels, particularly in the leisure sector, outperforming their pre-pandemic average rates. Commercial markets are also gradually improving as corporate travel and large-ticket conferences and events return. As a result, the country’s average rates in 1H2022 were 44-46% higher than 1H2021,...
HVS Monday Musings: Rethinking Hotel Loyalty Programs in the Post-COVID World
Mandeep S. Lamba | June 27, 2022
By Mandeep S Lamba and Dipti Mohan Loyalty programs are not new in the airline and hotel industries, dating back to early 1980s when American Airlines introduced AAdvantage, one of the world’s first travel loyalty programs. Hotel chains quickly jumped on board, with Holiday Inn and Marriott being credited with the first hotel loyalty programs in 1983. Since then, loyalty programs have not only been an effective marketing tool for increasing customer loyalty, but also for increasing repeat customers and revenue for hotels. Loyalty program members account for three-fourths of hotel website bookings, according to research by Phocus...
Will Travel Defy Inflation?
Mandeep S. Lamba | June 23, 2022
By Mandeep S. Lamba, Dipti Mohan Inflation is soaring in many countries due to a combination of factors such as rising fuel prices, ongoing supply disruptions, strong demand, and the Russia-Ukraine war. While the central banks around the world are raising benchmark interest rates to try to control the situation, inflation is likely to remain high in the near term. For instance, the US recorded four-decade-high inflation in May 2022, prompting the Federal Reserve to raise interest rates by 75 basis points (bps), the largest rate increase since 1994. A similar pattern can be seen in the UK and several other countries. India, also, recently r...
India’s Hotels Sector Sees Faster Than Expected Recovery With Year-Over-Year Increase of Over 24% in Brand Signings by Keys
Mandeep S Lamba | March 21, 2022
With demand recovering faster than expected in 2021, hotel companies put the COVID-blues behind them and pressed the accelerator on their expansion plans, resulting in a year-over-year increase of over 24% in brand signings by keys. During the year, 135 new hotels with 12,359 rooms entered the branded hotel market, while 58 hotels with 3,108 rooms were rebranded. With an average key count of 65 keys during the year, domestic hotel operators continued to sign more properties (77.7% of the total signings by properties) than their international peers. Meanwhile, international hotel operators persisted with their strategy to sign larger proper...
