NEW DELHI: The high-end hospitality properties operating in West Delhi have posted better results in the fourth quarter of 2012. Along with policy initiatives like allowing FDI in retail is filling up the sector with hopes for a better year ahead. Despite abysmal GDP growth rate.
"Reform in retail FDI, among others, has signaled the economy back on track," said Rubal Chaudhary, general manager of Hilton Janakpuri. Speaking on the previous quarter's performance of his hotel, he believed that the proposed reforms would boost the hospitality business. Hilton Janakpuri recently completed three years in West Delhi.
The other two hotels in West Delhi — Radisson Blu Hotel in Paschim Vihar and Jaypee Siddharth in Rajendra Place — are also optimistic about signs of a revival with the return of business customers.
Kanchan Rizvi, director of sales & marketing, Radisson Blu said, "MICE segment was a major source of business and revenue for the hotel in the quarter of October-December." They cashed in on revenue from rooms, F&B and residential weddings.
Manju Sharma, director of Jaypee HotelsBSE 3.39 % said, "India — a destination for investment and expansion for many sectors — is contributing positively for the hotel industry. The economic activity has been quite aggressive. This resulted in good business from the corporate segment for Jaypee Hotel Siddharth." Also In-bound tourism has contributed positively towards their business.
Replying to questionnaires, Hilton reported a 12 per cent growth in the year 2012, Jaypee said that the occupancy in 2012 increased by 6.79 per cent, whereas the fourth quarter occupancy was at 90 per cent and finally Hilton without divulging figures said that they were satisfied with the performance, although they were not able to meet the pre-budgeted numbers.
Explicating the performance Rizvi said, "Demand was available in the market but due to increased supply in the city average rate was under pressure." In a January 2013 report by Jones Lang LaSalle on the hospitality sector in the National capital region, they say that the market is going to be flooded with supply. The report had stated that 19 hotels were currently under construction in the capital with a total 4,785 rooms being built.
Source: Economictimes.com
"Reform in retail FDI, among others, has signaled the economy back on track," said Rubal Chaudhary, general manager of Hilton Janakpuri. Speaking on the previous quarter's performance of his hotel, he believed that the proposed reforms would boost the hospitality business. Hilton Janakpuri recently completed three years in West Delhi.
The other two hotels in West Delhi — Radisson Blu Hotel in Paschim Vihar and Jaypee Siddharth in Rajendra Place — are also optimistic about signs of a revival with the return of business customers.
Kanchan Rizvi, director of sales & marketing, Radisson Blu said, "MICE segment was a major source of business and revenue for the hotel in the quarter of October-December." They cashed in on revenue from rooms, F&B and residential weddings.
Manju Sharma, director of Jaypee HotelsBSE 3.39 % said, "India — a destination for investment and expansion for many sectors — is contributing positively for the hotel industry. The economic activity has been quite aggressive. This resulted in good business from the corporate segment for Jaypee Hotel Siddharth." Also In-bound tourism has contributed positively towards their business.
Replying to questionnaires, Hilton reported a 12 per cent growth in the year 2012, Jaypee said that the occupancy in 2012 increased by 6.79 per cent, whereas the fourth quarter occupancy was at 90 per cent and finally Hilton without divulging figures said that they were satisfied with the performance, although they were not able to meet the pre-budgeted numbers.
Explicating the performance Rizvi said, "Demand was available in the market but due to increased supply in the city average rate was under pressure." In a January 2013 report by Jones Lang LaSalle on the hospitality sector in the National capital region, they say that the market is going to be flooded with supply. The report had stated that 19 hotels were currently under construction in the capital with a total 4,785 rooms being built.
Source: Economictimes.com
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