Category Archives: Associations

At 54th FHRAI Annual Convention, Pradeep Shetty, President, FHRAI, highlighted the need for long-term financing in the hospitality sector, with current funds only available for 7-8 years. He urged for regulatory reforms, including streamlined licensing and single-window systems, to unlock the industry’s full potential.

“India is on the path to become the third-largest economy by 2027,” said Puneet Chhatwal, MD & CEO, IHCL at the 54th FHRAI Convention, adding that the contribution of tourism can be significant in this. He predicted the sector could double its $250 bn contribution to the GDP in the coming years.

Pradeep Shetty, President, FHRAI, projected that the hospitality industry will contribute US $250 bn to India’s GDP by 2030, supporting 137 million jobs. He stressed on the role of long-term financing and regulatory reforms to achieve this vision, aiming for a US $3 tn contribution by 2047.

The Indian hospitality industry is primed to make a significant contribution to the country’s economy, according to Pradeep Shetty, President, Federation of Hotel & Restaurant Associations of India (FHRAI). Addressing the 54th FHRAI Annual Convention on Day 1, Shetty projected that the sector will contribute a substantial $250 billion to India’s GDP by 2030, supporting 137 million jobs. To achieve this ambitious target, Shetty emphasised the need for long-term financing and regulatory reforms. The industry aims to contribute $3 trillion to the GDP by 2047. FHRAI Calls for Regulatory Reforms Shetty highlighted the critical need for long-term financing in the sector, noting that current funding options are limited to 7-8 years. He urged the government to implement regulatory reforms, such as streamlined licensing procedures and single-window systems, to unlock the industry’s full potential. Hospitality Sector Outperforms Other Industries The Indian hospitality industry is already making a substantial impact on the economy, contributing 12-13 per cent to the GDP and employing over 12 per cent of the workforce. These figures surpass those of the automobile and IT sectors, highlighting the industry’s economic significance. Sector to Add 50,000-60,000 Rooms in Next Five Years The President announced that the hospitality sector is set to expand significantly, with plans to add between 50,000 and 60,000 new hotel rooms over the next five years. This expansion will further boost employment opportunities and contribute to the country’s economic growth. FHRAI Submits Ease of Doing Business Report To address the challenges faced by the industry, FHRAI has submitted a comprehensive report on the ease of doing business in hospitality to the government. The report focuses on critical areas for reform, including simplifying regulatory compliance, reducing licensing burdens, …

Aimed at providing support & resources to SMEs within the global travel & tourism sector, the WTTC launched ‘Together in Travel’ at its 2024 Global Summit in Perth, Western Australia. It is designed to provide SMEs with the tools & resources they need, ensuring their voices are heard on a global scale.

According to a report prepared by FHRAI, KPMG and PHDCCI, India’s sustainable tourism market is projected to grow at CAGR of 19.3 per cent by 2032. Eco-tourism alone is projected to expand by 15.7 per cent from 2019 to 2027, reaching a staggering market size of US$4.55 billion.

Newly elected TAAI President Sunil Kumar has said that the focus of the new team will be on members. “TAAI’s goodwill and its strength lies in its members. Members First is our mission. We aim to address their challenges, learning from their concerns, engaging them much more comprehensively in the overall design and administration of TAAI, through various means like member networking opportunities,” he said.

As technology is transforming the aviation sector, Ricardo Letosa, Head of Business Strategy, SITA, said, during CAPA India Digital Aviation Summit 2024, “85% pax want travel documents auto-linked to digital identity. In fact, we have provided digital ID enrolment, and biometrics to three AACO airlines.”

K Syama Raju has been elected as the President at the 68th AGM of FHRAI. Among other office-bearers are: Pradeep Shetty as VP (West); SK Jaiswal as VP (North); Nitin Kothari as VP (East); K Nagaraju as Hon. Secy; Garish Oberoi as Hon. Treasurer; Ashoke Singh and Nirav Gandhi as Jt. Hon. Secretary.