Indian hospitality sector: From the Indian CEO’s eyes
The cross section of CEOs surveyed by PWC exuded optimism for the hospitality sector and gave a big thumbs up for 2012 – irrespective of what the budget holds for this evergreen sector. The survey painted a remarkably confident picture of the Indian hospitality segment…
With 82% of the CEOs answering YES to the question: ” Do you think that the Indian hospitality sector will perform better than its global counterparts?”
The CEO respondents were almost unanimous in their perception about the growth segments in the Indian hospitality sector.
- 88% CEOs voted for the ‘Budget & Mid-Market’ AND ‘ 12% went with the ‘Premium & Luxury’ segment in response to the question: ” Which segments will attract maximum investments?”
- In terms of customer segments, majority of the CEOs opined that the Business travelers held the maximum value prospect (83%); with MICE travelers having a growing influence on the hospitality segment (56%); Leisure travelers, unlike the earlier years seem to have lagged behind (39%).
Energy conservation and technological automation dominated the though process of the Indian CEOs on the topic of: “What are your initiatives to manage costs?”
- 29%: Energy Conservation Strategy
- 24%: Investing in right technology
- 24%: Training & Human resource improvement
- 23%: Smart procurement & custom best practices
In terms of growth strategy, 88% of the CEOs emphasized on entering a new geography while 75% had a strong conviction about entering a new market segment.