Reinvent & rescale
Facing a huge challenge tackling the COVID-19 pandemic, eminent leaders of the hospitality industry brainstormed together during a virtual session of India International Hospitality Expo (IHE) on navigating the marketplace out of the crisis.
ANIL CHADHA COO,
ITC Hotels
We have moved from the phase of conquering to co-existing. The new normal is the new world for both associates and guests. Hygiene, health and safety are the new buzzwords. We are going through very tough times but are preparing ourselves for the battle. We need to make our entire model efficient in every respect. We have to survive for at least the next 12-18 months.
DILIP PURI Founder & CEO
Indian School of Hospitality
As an educator, parents question us saying, should our kids even study hospitality? If that is the crisis today, there will be no one wanting to work in the industry. When it comes to rescaling, it is an opportunity because hospitality is the only industry which provides transferable skills, so we need to upscale the talent to be prepared for a multitude of tasks to work in other sectors dependent on hospitality.
RAJIV KAUL Advisor
Leela Palaces Hotels & Resorts
As hotel managers, we need to focus on achieving breakeven as an immediate goal. While the vaccine will have its own trajectory, we will have ups and downs, but we need to take full advantage of all the mirco-opportunities for growth. This is the single most important thing, which general managers should focus on. Secondly, we need to ensure that jobs are not lost.
KB KACHRU Chairman, Emeritus & Principal Advisor South Asia, Radisson
Hotel Group
We all have to accept that the hospitality market has shrunk. We have seen losses amounting to ` 90,000 crore. Although we have green shoots of revival, but I still think significant recovery will not be seen before end of 2022 or early 2023. To stay afloat, we have to reinvent ourselves, retool our resources & focus on what the government is doing for us.
SONICA MALHOTRA KANDHARi Joint Managing Director MBD Group
Before COVID started, more than 50 per cent of the hospitality players were feeling stress on their balance sheets. COVID has worsened the scenario. If this crisis continues for another year, the mortality rate in the industry will see skyrocketing numbers. With less government support, the ‘Make in India’ initiative will also take a hit.