India is recovering very fast: Sunjee Sharma, Hyatt Hotels
According to him, room rates remain below pre-Kovid levels, but international travel will resume and rebound in the coming days, before they reach the old level of “it’s only time”.
India, in March, launched scheduled international flights to and from the country.
“If you look at the room prices are still adjusted according to the domestic travel market. So they are still below pre-pandemic levels. But as international travels begin, we see these rates rise again. Recovery in India is strong and some numbers are better than 2019, ”he said Businessline During the inauguration of Hyatt’s new 224 room property, Hyatt Centric Janakpuri in New Delhi.
To a specific question, Sharma said there was a “change of mindset” and that “recovery in retirement destinations is 2019 levels and above”. In comparison, the Middle East, particularly Dubai, reported “more than 2019” figures in the “last three-four-odd quarters”. Recovery was slow in Africa, with a “moss recovery” in Europe.
According to Sharma, although the launch of international travel has led to some change in the number of domestic travelers, “there is a change in the way of thinking already seen” that is “in favor of domestic tourism” and that it is “likely to sustain”. Inquiries into corporate travel are on the rise and will begin “next month”. Questions related to international travel indicate strong demand.
“Increased inquiries show that the level of corporate confidence is returning. Offices are reopening, so demand is strong. And leisure and domestic travel in addition to that (corporate travel). I think the coming years will be very beneficial, ”he said.
Hyatt, according to Sharma, is seeing growing interest in new signatures and should have 50 hotels in India by the end of next year (2023), currently having 34 assets under various brands.
April 14, 2022