Posted inOperations

2023: A positive outlook

Sudeep Jain, Managing Director, South West Asia, IHG.

In 2022, we saw return of travel in India with positive consumer sentiment which led to an increase in demand across our hotels . Our business in general witnessed a significant upsurge with the growing demand for domestic leisure travel, early return of business travel, weddings and conferences & events. In Q2, 2022, our total revenue in India exceeded 2019 levels where occupancy levels jumped from 60% in Q1 to close to 75% in Q2 of 2022, demonstrating a 26% jump YoY for H1 of 2022, which was 2% ahead of 2019 levels.

Last year, we also continued to strengthen our portfolio in the region and signed many hotels across our brands in markets such as Gujarat, Rajasthan, Uttrakhand, Haryana, Nepal and Bangladesh.

A look at 2023

Domestic tourism facilitated business recovery across leisure and corporate segments, and it will continue to remain an important segment for us in 2023 as well. We have a solid presence in the mainstream category with Holiday Inn and Holiday Inn Express hotels which cater to this demand.

Also, availability of reliable hospitality options which can offer travelers the assurance of a clean and safe environment will continue to be important and relevant. Our IHG way of clean programme that deploys new, scientific protocols, is suited in providing this assurance to our guests and support their wellbeing throughout their stay.

F&B is an integral part of hospitality and will remain important for our business. We will continue to diversify and enhance F&B offering across our hotels this year.

We also look forward to further expand our portfolio in the SWA region and bring new brands to key markets.