The hospitality industry in general did hope for a better sounding Budget but was left wanting for more. However, though this industry does express its disappointment, it is also known to jump back into action doing what it does best – serving the guest with a smile. The acquisition of Park Hyatt Goa by ITC Hotels, the constant expansion of homegrown brands in India’s emerging towns and cities, along with the robust expansions in the F&B space that includes both QSRs and fine dining options, proves this industry is always on the go. Our cover story this issue clearly states the power of the platter, wherein the F&B business, especially within the hotel, is bringing in the ‘moolah’ and interestingly, there are a few professionals who feel it may surpass the primary source of revenue as well. Themed meal experiences, innovative technology, a good banqueting concept, social media activities are some tactful strategies working well in driving today’s F&B revenues in hotels.
Apart from restaurant outlets, it is the banqueting space which seems to gain attention as well. Demand in this space can be correlated to the socio-economic and cultural transformation that is taking place across regions in the country. Today, technology, infrastructure development and a rather global approach has brought in a trend that tilts towards spending rather than saving. This has had its positive impact on business, especially in the MICE space. In today’s competitive and constantly evolving business environment, it is crucial for hotels to stay innovative to keep its in-house guests engaged and also to capture the local market. The average guest today is well travelled, well informed and very discerning and hence when it comes to catering to the locals, hotels have to provide good local food coupled with good service and a strong concept restaurant. As we discuss food in all its glory, we also have the Forum of Indian Food Importers (FIFI), which is in talks with the food safety authorities to reduce the challenges being faced by various international food importers.
Further, the hospitality industry has penetrated regions which were considered inhospitable in the past. Our story on a homestay option in the Chambal region is testimony to the same. Finally after a well played run in India’s commercial capital, HICSA has also changed base and opted for the political capital. Once again, industry experts will converge to discuss the good and not so good happenings in the ever buzzing industry.
Reema Lokesh
Editor