Amid the slump in the hospitality industry due to the Covid-19 pandemic, ITC Hotels is optimistic about domestic demand whilst planning to increase the number of properties under the brand Welcomhotel to 25, from 19 right now, within a year. The hospitality mogul currently has 100 properties across four brands in over 70 locations in India.
Two new properties, Welcomhotel Tavleen Chail and Welcomhotel Shimla were unveiled by ITC in the past six months, while Welcomhotel Ahmedabad and Welcomhotel Port Blair were relaunched in March this year.
ITC Executive Director Nakul Anand said, "ITC Hotels footprint has been established across the country by collaborating with like-minded individuals focused on bringing unique experiences in the hospitality sector."
ITC informed their EBIDTA in the hotel business segment in Q1 2021 was Rs.25 crore, against breakeven in the previous quarter. Extreme attention has been paid to cost reduction and controlling fixed expenses, bringing it down 41% in FY2021.
With the vaccination drive going steady and the economy picking up pace, hospitality veterans are optimistic about the revival of demand post the long lull in the hospitality sector. Further strengthening this position is the jump in railway reservations by 230%, and a similar spurt expected in airline travel.
"Vocal for local is gaining momentum with people preferring to travel motorable distances post-pandemic. As a result, domestic tourism is increasing. At ITC Hotels, we've always promoted India as a travel destination, and now is the perfect time to meet the public's demand for unique experiences,” an ITC official said.
Source: Economic Times