Tourist influx on the rise
Based on inquiries, tour operators say inbound tourism is picking up in India. A few of them share views with TRAVTALK at Très 2022.
People are now beginning to show interest in India again. India is a huge draw in the UK and by the time season arrives around October, we will have a significant movement. I can't promise it will be a cent per cent at that stage, but they will be notable movement, which will continue up to February. As things stand, February is looking bright. And I think everybody within the Indian hotel industry can take solace from that. People are looking for cleaner, greener, remote and sustainable destinations. They've been locked up during for two and a half years and there is a huge interest in traveling out.
Compared to the last two years, business is showing results at last. Initially they were queries people asked about destinations, but slowly and gradually they started booking. We have started getting inbound queries from certain geographies last year and outbound started as well, in the last six months. The queries more often than not converted into business. Before the pandemic, tourism was a common revenue generator, mostly because Indian market is price sensitive. The travellers wanted to join those groups which were not expensive. What we have realised and observed of late is that now the visitors are more interested in smaller groups or individual travel, they do not want to cover seven countries in 10 days but rather cover two countries in seven-10 days in a relaxed manner while visiting through many places.
Post-August 2021 we are in the travel business and get indications from some of the countries that are more into the business travel. Post-January, we have started to receive queries from Europe as well as from Australia. As the flight accessibility is getting a little better now, we are receiving queries and we are back in business again. Our top selling points are still traditional culture and wellness tourism, but a lot of people are looking for more sustainable experiences on a societal level. The biggest challenge right now for any travel company would be the disruption to the supply chain both from the buyer as well as the supply side. There is the disruption in terms of the flight inventory, securing visas to India from some of the countries, especially UK, which is the second biggest market for India.
Our company has been based on technology, so the growth of our business has really been well balanced. In the last 180 days, we performed very close to 365 days operating revenue, so we really did well in the days in the financial year 2020-2021. Last year, we grew by as much as 30 per cent and next year, we are forecasting another 30 per cent growth. So, it has really been 30 per cent compound annual growth rate (CAGR) over the span of two-and-a-half years that are projecting now. The occupancies for us right now across hotels are better than the pre-pandemic levels. The only hotel that did not pick up as much was the O by Tamara, which I think we have been able to see a resurgence in that business and we are hitting about 80 per cent to 85 per cent in Thiruvananthapuram now.
Ever since the COVID-19-induced lockdown began in March 2020, there was no business and we devoted this particular time in scouting for new places. And I think I must have travelled not less than 80,000 km by road across India. We are pleased to announce that we have identified 12 new locations and have divided them into two phases now. All those high-net-worth individuals and those who are niche travellers, those who have been very discerning travellers as they did not have much options started exploring the country. And, fortunately, the locations that the country boasts and the kind of personalised experiences that we provide the travellers have received a tremendous response. This year too, we are expecting a very healthy mix of domestic and inbound tourists.
I think international travel is opening up, we see that inquiries have started to come in, though it is nowhere near the pre-pandemic numbers. In terms of occupancy of hotel rooms, they are looking much better than they were during the pandemic. As a brand, we have always tried to promote unique boutique properties and locations, which are not showcased otherwise, and places which you would not see on any traveller's map. We plan to bring places or properties less known into the limelight and that is where we see ourselves growing and expanding. Recently, one of the mega trends that I came to observe is the digital platforms, the tour operators, the online travel agencies (OTAs), everyone is using the digital space, and so we are planning to leverage that in a bid to promoting ourselves.
Très 2022, rolled out last week at Andaz Delhi, brought together a curated collection of 50 of the region’s finest boutique hotels in the mindful luxury segment and experiential travel concepts along with an outstanding attendance of highprofile industry agents, operators and facilitators. A by-invite event, our carefully selected exhibitors and delegates share a common desire to present the Indian subcontinent as a global destination for leisure, luxury and inspirational travel that offers a unique diversity and is magnificent and transformational in its offering. Hoteliers and Très delegates found the show extremely productive; we are elated at the overwhelming response from the travel fraternity! Keeping this momentum of positive outlook for the industry, we are happy to announce that Très 2023 will take place in third week of April.