ITC is now the world's first and largest luxury green hotel chain.
All its eight luxury properties have been awarded Leed (Leadership in Energy and Environmental Design) Platinum status, a creditable rating from US Green Building Council. Eight out of ITC's nine luxury hotels worldwide are certified Leed Platinum, says Nakul Anand, CEO of group's hospitality and travel division. Anand spoke to TOI on a range of topics from the industry scenario to ITC's proposed $2-billion investment in the sector. Excerpts:
There is concern of a slowdown caused by inflation, rising interest rates and higher fuel costs. The Eurozone crisis and the unrest in the Arab world are adding to the global uncertainties. The hospitality sector is one of the first industries to feel the effects of a challenging economic environment. How are you seeing this?
Economic factors impact hospitality industry and creates an imbalance in demand and supply. But these are temporary. There is immense potential for the tourism industry in India. Around 5.58 million tourists visited India, which is 0.58% of world tourism. India is an under-hotelled market. There is a shortage of one lakh rooms in the country. There is this myth that room rates in India are very high compared to other countries . This needs to be corrected . In Delhi, you would get a room for $200 a night compared to London where you would have to shell out $300-350 for a night. At times, here too rates touch the $350 level. But then, price is a result of demand and supply.
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