The dialogue on creating experiences as a business brought together influential figures driving this change within hospitality, travel, and entertainment: Puneet Chatwal, Anuraag Bhatnagar, and Rahul Ganjoo.
This conversation mirrored a broader transformation in consumer behavior. Throughout various demographics, especially among younger consumers, there is a noticeable shift in spending towards experiences that provide emotional significance, social validation, and lasting memories. Travel, concerts, luxury accommodations, dining, and live entertainment are now regarded as essential lifestyle priorities rather than mere indulgences.
Rahul Ganjoo noted that this shift is already observable at scale, evidenced by the increasing popularity of live events and experiential spending. “Moving from products to experiences… living in the moment… if you have the means, go chase that experience,” he remarked, emphasizing how consumers are now valuing moments over material possessions.
The discussion revealed that experience-driven consumption is also altering how businesses cultivate loyalty and long-term brand equity. In industries like hospitality, differentiation relies more on service quality, personalization, and emotional engagement rather than just infrastructure or pricing.
For luxury hospitality brands, achieving scale while maintaining exclusivity is now essential. Speaking about the growth following The Leela’s acquisition, Anuraag Bhatnagar mentioned, “What truly enabled us post-acquisition… was scale, access to capital, disciplined asset management, and our commitment to growth while focusing solely on luxury.”
The conversation also highlighted how India’s hospitality landscape is diversifying into various consumer segments. Rising incomes, increased domestic tourism, and aspirational spending are driving demand across luxury, premium, and mid-market categories.
Puneet Chatwal commented on this diversification while outlining IHCL’s strategy. “India is 1.5 billion people… we need a product for each Indian,” he pointed out, emphasizing the growing necessity for hospitality brands to meet diverse consumer expectations and experience types.
In addition to consumer demand, the panel identified infrastructure as a crucial element for the next stage of growth. While India’s hospitality and service standards are becoming increasingly competitive on a global scale, seamless travel connectivity, improved entertainment facilities, and robust destination infrastructure will be vital for maintaining the momentum of the experience economy.
The conversation was particularly noteworthy for its balance between optimism and realism. The potential surrounding experience-driven consumption is substantial, yet scaling such experiences without compromising authenticity, quality, or personalization poses a formidable challenge.
Ultimately, the dialogue reflected a larger transition occurring in India’s consumer narrative. As aspirations shift and discretionary spending evolves, businesses across various sectors are recognizing that future growth will hinge not solely on products, but on the memorable experiences that consumers are willing to seek out, travel for, and return to.
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