Nikhil Sharma, Managing Director and Chief Operating Officer, South Asia, informed PTI that the Group is “very much on track” to reach its goal of 500 hotels in India by 2030.
“We currently have 17,000 keys in operation. With 18 additional hotels scheduled to open this year, we expect to add between 2,000 and 2,500 keys,” Sharma stated.
The global hospitality chain operates 142 hotels in India and has 84 more in the development phase, underscoring a strong pipeline aimed at medium-term visibility.
Regarding the current demand environment, Sharma observed a mixed effect from the ongoing crisis in West Asia, especially in major urban markets.
”We’ve noticed a slowdown in certain metro areas, but tier-2 and tier-3 cities have not experienced significant declines,” he commented.
Nonetheless, March brought some challenges in selected markets. ”There was a 27-28 percent drop in RevPAR in a few metro cities, though not across the entire country,” Sharma mentioned, noting that trends in April will be crucial for gauging recovery momentum.
Industry patterns suggest that although international and corporate travel may encounter sporadic disruptions, domestic demand — particularly from Tier 2 and Tier 3 cities — remains strong, providing support to the hospitality sector.
