Our aim is to provide a tranquil and peaceful environment to our guests so that they can relax and unwind away from the stresses of everyday life, creating an unforgettable experience for them.
Vishal Lonkar, General Manager, Business Development, Renest Hotels and Resorts.
Vishal Lonkar started his journey as an HR professional, and it is these people management skills that he has used to head the Business Development of this experiential hotel chain. Today he shares with us the hospitality insights of the Indian market, pandemic recovery, MICE and his expansion plans of Renest Hotels and Resorts.
- Kindly throw some light on the current demand that you are witnessing from both domestic and international markets for your properties.
After 2 years of the pandemic, things finally seem to be moving in the desired direction. Until now, travel was primarily restricted to domestic, but with the international skies reopening, we have certainly seen an influx of travel plans for both leisure and business purposes. We are currently witnessing an upward growth in terms of bookings and revenue generation with a 21-23% rise in the total bookings.
With the restarting of international flights, business travel has begun and so our hotels in Kolkata and Bangalore have also seen a rise in demand for business travellers.
- Do you expect a strong recovery for the Indian hospitality sector considering the pandemic situation has improved and the domestic market especially looking up?
The pandemic has impacted every industry around the world, but the hospitality industry is among the hardest hit. Ever since the pandemic began in March 2020, the hotel industry has been struggling to manage its statutory and capital expenditure obligations. While the reports suggest that the business will fully recover by 2023, it is reasonable to state that the hotel industry has made significant progress.
In comparison to 2020, the year 2021 was better for the sector due to the relaxation of the curbs. We have been growing in terms of business and as for the year 2022 is concerned, we expect a 15-20% increase in RevPAR. Things are progressively returning to normal, with the relaxation of travel regulations for destination weddings and also as covid has become a way of life, we are expecting a manifold increase in the wedding business as it prepares to make a comeback.
- What differentiates your brand from other competitors?
Renest Hotels and Resorts is a brand that was formulated as being close to nature and a brand that brings value to the target segment (guests). We are genuinely concerned about our people and the ecosystems in which they live. We have integrated sustainable techniques to conserve and protect our environments, such as growing our own organic vegetables, recycling rainwater, vertical gardens, and open skylights.
Our aim is to provide a tranquil and peaceful environment to our guests so that they can relax and unwind away from the stresses of everyday life, creating an unforgettable experience for them.
- Which are the key segments that you expect will drive growth for you in the future like leisure, MICE etc?
The pandemic has wreaked havoc on the hospitality industry. Despite this, we have had overall growth as a result of our strategic location and our initiatives, which have benefited us even during difficult times. Weddings and MICE, on the other hand, bring in a significant amount of revenue, which was impacted hard when the pandemic broke out. With the MICE (Meetings, Incentives, Conferencing, Exhibitions) sector, pegged at around Rs 25,000 crore in India with a growth of 8 per cent, things are now getting back to normalcy with the adaptation of the new normal.
However, now that the major restrictions have been lifted, the wedding industry is expected to rebound. The F&B, MICE, and wedding segments are expected to result in a significant rise.
- What are your future expansion plans after announcing property in Haridwar?
Presently, we have hotels and resorts in the key locations of temple towns Shirdi, Tirupati, Haridwar popular hill station Manali, business hubs, Jaipur and Gandhidham, and upcoming properties in Gurgaon among others. We aim to offer experiential stays amidst nature, in picturesque locations across India. Apart from that, experiential locations, offbeat locations, and corporate locations are our focus right now.
Our diverse, layered portfolio will have something unique to offer for the modern, discerning travellers who seek a holistic holiday experience, and we are working to provide them with that kind of experience in the coming future. In the long run, we would like to see our brand have an international presence as well. We envision having over 100 hotels by 2027.
