The Taj Group will open its 100th property in India next fiscal, according to Raymond N Bickson, MD & CEO of IHCL.
Speaking about the expansion plans of the company, Bickson said, “The group is the fastest growing domestic hospitality brand with 122 hotels in 2012 across the globe from 62 in 2003. We are aiming to open our 100th hotel in India in 2012-2013 fiscal.” Bickson also mentioned the company dismal performance in the US market. “We opened our hotels in 2007 and the market crashed in 2008. We closed one hotel for renovation for 14 months.” However all is not bad as the properties in New York, San Francisco are doing well, he added. According to Bickson, the demand in the domestic market is good and will increase with time. “The domestic market is highly valuable with a rapid increase in domestic travellers to 740 million. Even the number of foreign travellers is also touching six million. The occupancy is robust and the growth is quite sustainable. Hospitality is a seasonal industry and has its ups and downs but has a bright future with the growth of the country,” he said.
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