\n<\/p>\n
Speaking at CNBC-TV18\u2019s event The Titans, Indian Hotels Company Ltd (IHCL) Managing Director and CEO Puneet Chhatwal said the development could create opportunities around the \u201capna desh\u201d narrative and encourage greater spending within India.<\/p>\n
\nChhatwal added that the trend could also support themes such as \u201cMake in India, Heal in India, and Wed in India\u201d, not just for domestic travellers but also for international visitors.
At the same time, Chhatwal said the industry was still trying to understand the broader implications of the Prime Minister\u2019s remarks amid rapidly changing geopolitical conditions.<\/p>\n
\u201cWe are all a bit speechless, thinking: is there more to it? Is there something that we need to know?\u201d he said, adding that more clarity could emerge over the next few weeks.<\/p>\n
Anuraag Bhatnagar, CEO and Whole-Time Director of The Leela Palaces, Hotels and Resorts, echoed a similar view and said domestic travel demand was already strong during the summer holiday season.<\/p>\n
\u201cThe months of May, June and July are holiday seasons, school vacations, and there is a very strong domestic uptake anyway. So that is going to get further amplified,\u201d Bhatnagar said.<\/p>\n
He noted that affluent Indian travellers taking overseas trips significantly outnumber inbound international tourists visiting India, creating a long-term opportunity for the domestic hospitality sector.<\/p>\n
\u201cThe number of affluent Indians who take international trips is nearly three times the inbound numbers,\u201d he said.<\/p>\n
The comments come at a time when financial market volatility has raised concerns over the wealth effect on discretionary consumption, especially in the luxury segment. However, Chhatwal said business trends remained stable despite uncertainty.<\/p>\n
\u201cAt the moment, things are fine. May is off to a very good start\u2026 June business on the books looks good,\u201d he said.<\/p>\n
He added that safety and security remained critical drivers for hospitality demand and said IHCL\u2019s operations, including those in the Middle East, had not witnessed any meaningful disruptions.<\/p>\n
The discussion also highlighted how companies are increasingly positioning themselves around India\u2019s expanding experience economy.<\/p>\n
Rahul Ganjoo, CEO of District by Zomato, said the company sees a larger opportunity in out-of-home consumption and urban experiences.<\/p>\n
\u201cThe common thread across all our businesses is: what can we do to make urban lives smoother and friction-free?\u201d Ganjoo said.<\/p>\n
\u201cWe are just about removing that friction and helping more people consume outside their homes. And we know directionally it’s a larger TAM than at-home consumption,\u201d he added.<\/p>\n
Bhatnagar said India\u2019s luxury hospitality segment continued to benefit from strong macroeconomic tailwinds and rising demand for premium experiences. He said Brookfield Corporation\u2019s acquisition of Leela in 2019 helped the company scale through better access to capital and disciplined asset management while maintaining its focus on luxury.<\/p>\n