Among all the many peculiarities of the hotel industry, the hotel management contract is likely the most unique. A binding contract between owners and operators, it has evolved over almost six decades.
In a market like India, where land most often than not is mis-appropriately valued resulting in exaggerated project costs and hotel transactions are limited in number, the only viable methodology that remains relevant especially in the current uncertain & volatile market scenario is that of Discounted Cash Flows (DCF).
"We currently have the benefit of time; how we use it to prognosticate and plan for the copious scenarios we may face in the months and years ahead will ultimately determine the path forward for our industry."
Luxury boutique hotels and resorts, a widely prevalent concept globally, is still at a nascent stage in India, with very few brands and properties. The increasing desire for experiential travel, by not only the millennials but across different cohorts often looking for unique and exclusive stays, has led to the growing popularity of this concept in the country.
Clichéd as it may sound, the adage rings true for India's Hospitality Sector today - 'When the going gets tough, the tough get going!'
The growth of domestic tourism, changing lifestyles, increasing affinity towards competitively priced branded hotels and expansion of business activity to Tier 2 & 3 cities have bolstered the popularity of Mid-market or Midscale hotels in India in the recent past.
As I write this piece, my newsfeed is like sunshine, carrying rays of hope and filled with news of joy, optimism, ambition, and togetherness.
A few days back the Delhi Disaster Management Authority met to take a decision on reopening the hotels in New Delhi, India's Capital, its nerve centre and an important gateway city.
As shown in the Planning Department's site plan, Site 3 will enjoy expansive harbour views from its northern section. The Hong Kong Observation Wheel located at piers 9 and 10 is a temporary structure and will not impede the site.
"As we come out of the crisis, the rear-view mirror test on how businesses behaved towards their people during this period will be incredibly important – whether you're working with a company or looking to work for them."
India is one of the fastest growing travel & tourism (T&T) economies in the world thanks to its diverse landscape, rich heritage and cultural diversity, which attracts tourists from across the country and the world.
The Hotel Law Guide helps serve hotel real estate owners, developers and operators as a reference for experienced and well-known lawyers and attorneys with a track record in Asia Pacific region. Each law firm highlights their representative attorneys with the type of services offered and notable projects.
