With an increase in luxury travel, hospitality group Triton Hotel and Resorts planned new hotels, expand in Tier 2 and Tier 3 cities

New Delhi: Increase in air and road travel is promoting the demand for luxury hospitality. Triton Hotels and Resorts, which run Raflles in Udaipur and Jaipur in addition to Fairmont and Le Meridian in Pink City, are planning to expand from Rajasthan as it seems to build new luxury properties in Goa, Rishikesh, Bangalore and Alibag, while Tier 2 and Tier 3 sites.Ratan Kant Sharma, president of Infrastructure and Hospitality Enterprise, said that business is growing rapidly after Kovid and has increased the rates of occupancy and average room.Sharma said, “The cash flow is strong. There has been an increase in hospitality business across the country.He said that the spending patterns have strengthened the epidemic and ‘you live only once’ (or yolo) have been a strong environment in advancing consumption.“Suddenly, there is a great demand. Like many other markets around the world, it seems that Indians also believe in ‘Ek Jeevan Hai’ and thus consumption with family and friends is a necessity. So we are watching a bounce in the final-minute booking. ,Sharma, whose family was originally in infrastructure and construction business, launched the Le Meridian Hotel in Rajasthan in 2003, followed by Fairmont in the state in 2012, reputed Raffles in Udaipur in 2021 and a relatively stained property in Jaipur last year.The group hopes that this year there will be a turnover of Rs 300 crore between all its qualities.Sharma said that the group has planned to invest Rs 150 crore annually to fund expansion plans. “It will be through a mixture of internal educational and bank loans.”The group’s executive director Jui Sharma believes that the increase in wind and road connectivity has also given rise to healthy demand in the hospitality sector. “Airlines have exceeded a utility, and the highways are expanding rapidly. Infrastructure has expanded manifold. People are easily able to travel to new destinations, something they never imagined to do so. For example, Dharmashala in Himachal Pradesh now has direct flights from many cities. So, you can easily expect on an aircraft and go to the destination. And so you see that the hotels in Dharamshala have started doing well. Most of the Tier 2 and Tier 3 cities are seen the same trend because connectivity improves. ,Interestingly, when luxury hotels in India were more dependent on international passengers against earlier trends, Sharma said that now the demand is being made by local tourists. “We have enough population to support our economy and hospitality sector. Clearly, we are no longer dependent on foreigners. Today, we get about 70-80% guests of our hotel within India. The aspirations of Indian passengers are increasing and people do not mind spending money on luxury holidays. No matter how many rooms you add, they are filled. ,Asked if the group is planning an IPO to raise money, Sharma said that it could be after a period of 2-3 years as more assets start operations in different cities.