Cost is a huge challenge for hotel industry: Douglas Martell
Intercontinental Hotels Group (IHG), after being present for five decades in India, has finally found its feet in the market with a pipeline of nearly 29 hotels till 2017. Douglas Martell, Vice President Operations, IHG South West Asia, said that while Indian market poses challenges it is still doing better than most countries. In conversation with Ruchika Chitravanshi, he said how 2014 will continue to see flat growth in the sector with new supply coming in.
Everybody is focusing more on the challenges in India and there is a lot of talk about political uncertainties. All of these things do play a part but at the end of the day, India is still a fast growing market. The important thing is that you cannot get pessimistic just because you have one bad year. When you invest in hotel you are investing for 15 or 20 years. We have been here since 1962. When the cycle is at the low point it does not mean that you stop doing things.