Smart Buildings Help Achieve Sustainability
Indian Hospitality Sector News – , Business-Hospitality industry’s need to bring in sustainable tech interventions has never been greater, says JB Singh, President and CEO, Interglobe Hotels.
The courage and resilience displayed by the hospitality industry in 2020-21 has been remarkable. Demand compression and liquidity management have been the central themes over the last 18 months. Now, it is fair to say that the industry is better prepared which is reflective in its performance in recent months. While the recovery graph appears wavy, it is on the way up. The bounce back after the second wave was sharper, making the forward outlook very positive with the upcoming peak season being a catalyst to the pent up demand. One of the largest vaccination drives in the world is also bringing back renewed confidence in India.
The positive trend that the Indian economy witnessed after the second wave has triggered forecasts of 10 per cent GDP growth by five major agencies. Global institutions predict India to be the third-largest economy by 2030 which will demand accelerated growth by the hospitality sector as well. India’s unique economy built on an intra-India framework will put to test our industry’s ability to not only keep pace but also find its way to be one of the cornerstones of India’s growth story.
It is, therefore, imperative that lessons learnt in the recent past drive a resolve within the industry and the Government to rework policies and institutions to make the industry significantly more efficient and make-up for the lost time.