Tag Archives: PwC

Over 80 per cent CEOs from leading hospitality firms in India believe that the sector will see robust growth in the coming years, according to a latest report titled ‘Hospitality insights from the Indian CEO’s desk’ by Confederation of Indian Industry (CII) and PWC. Eighty-three per cent CEOs believe that revenues from business travellers will grow significantly over the next few years. Although MiCE has not been a significant contributor to the Indian hospitality sector so far, this trend is likely to change with better planning as well as improved infrastructure. On the other hand, few CEOs believe that leisure travel will keep pace with growth seen in business travel and MiCE.

Revenues from business travellers will grow significantly over the next few years, according to a CII-PwC report. Although MiCE has not been a significant contributor to the Indian hospitality sector so far, this trend is likely to change with better planning as well as improved infrastructure. On the other hand, few CEOs believe that leisure travel will keep pace with growth seen in business travel and MiCE. A large section of leisure travellers continue to perceive hotels as a luxury.

According to a latest report titled ‘Hospitality insights from the Indian CEO’s desk’ by Confederation of Indian Industry (CII) and PWC, more than one-third of the respondents indicate a willingness to invest in Tier II towns to capitalise on the growth of domestic travel. However, the survey also shows that Tier I cities, primarily Mumbai and Delhi, continue to be the most preferred locations for hotel expansion. Although most players are not looking for international locations actively, some (especially the larger Indian chains) are open to expanding internationally, provided an opportunity is available.  

The proposed international airport at Jewar in Greater Noida will not only bring places in Uttar Pradesh such as Kanpur and Allahabad closer to NCR under the regional connectivity scheme UDAN, it will also benefit locations in neighbouring states, a techno-economic feasibility report for the airport has stated. The Uttar Pradesh government is of the view that once the airport begins functioning from 2022-23, people travelling by air in the state will increase significantly. Air traffic in Uttar Pradesh is currently growing at a rate of 28.8 per cent. The PwC report stated that when the airport starts functioning, Shimla, Ludhinana, Pathankot, Gwalior and Adampur would be benefitted by it. These places, including Bhatinda would be benefitted by both the Jewar airport and the IGI airport in New Delhi under the Centres UDAN scheme. The capacity deployment to Kanpur and Adampur at present remains the highest. It said 88 per cent of Jewar airport traffic would be domestic and the rest international, adding that adjoining districts of Uttar Pradesh such as Agra and Gautam Budh Nagar would be the main contributors to the fliers volume to the airport. The report said the demand for air travel from the Dellhi-NCR region will increase manifold in the coming years and it will be determined by factors such as “natural growth in air travel demand due to economic progress and model shift from railways to air”. Source: PTI