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    Brookfield’s Leela Hotels to Raise INR35B in Reduced IPO

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    Hospitality Biz India: Latest News & AnalysisHospitality Biz India: Latest News & Analysis
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    • Feature
      1. Cover Story
      2. Spotlight
      3. Interview
      4. Event Round Up
      5. Chef’s Corner
      6. GM’s Speak
      7. View All

      ‘Prime AAA locations will remain central to our strategy’: JB Singh, President and CEO, InterGlobe Hotels

      April 3, 2025

      Breaking Barriers and Leading with Excellence: Women in Hospitality

      March 7, 2025

      Indian Hospitality Industry Poised for Continued Growth in 2025

      January 15, 2025

      ‘India’s non-metro cities are at the heart of the country’s hospitality growth, offering immense potential and untapped opportunities’

      October 8, 2024

      ‘Telangana’s hospitality sector deserves industry status for fair recognition and support’: Sandeep Joshi

      May 16, 2025

      ‘We’re not just hosting events but also shaping Hyderabad’s reputation as India’s top MICE destination’ : Rubin Cherian

      April 21, 2025

      ‘Hotels blending local charm with sustainability to lead next phase’ : Jitendra Taak

      April 4, 2025

      Timbertales Coorg Aims to Become South India’s Top Luxury Resort

      March 6, 2025

      Naarma – Redefining India’s Luxury Dining Scene

      May 23, 2025

      ‘Evolving client preferences drive demand for hybrid capabilities, immersive experiences, and personalised touches’ : Prithvi Pal Singh

      May 17, 2025

      ‘Telangana’s hospitality sector deserves industry status for fair recognition and support’: Sandeep Joshi

      May 16, 2025

      Luxury Whisky brand The Dalmore targets India’s growing market for single malts

      May 6, 2025

      Culinary Art India 2025: A Celebration of India’s Evolving Hospitality Landscape

      March 7, 2025

      ProWine Mumbai 2024: A Toast to Excellence in Wine and Spirits

      December 4, 2024

      7th AHP Hospitality Excellence Awards Celebrating Innovation, Diversity, and the Future of Hospitality

      July 26, 2024

      IHC-IIHM International Hospitality Day Awards celebrates the Glamorous Hospitality Industry of Mumbai

      July 5, 2024

      ‘Guests today seek an overall experience rather than just good food or stay‘: Chef Satyakumar GV, Executive Chef, Sheraton Hyderabad Hotel

      January 28, 2025

      Young Chefs from 50 Nations to Compete at 11th International Chef Olympiad, Feb 2-8, 2025

      January 28, 2025

      IIHM and IHC Celebrates International Hospitality Day 2024

      April 29, 2024

      Food Trends Predictions for 2024

      November 24, 2023

      ‘Telangana’s hospitality sector deserves industry status for fair recognition and support’: Sandeep Joshi

      May 16, 2025

      ‘We’re not just hosting events but also shaping Hyderabad’s reputation as India’s top MICE destination’ : Rubin Cherian

      April 21, 2025

      ‘Hotels blending local charm with sustainability to lead next phase’ : Jitendra Taak

      April 4, 2025

      ‘We plan to drive higher RevPAR and occupancy through dynamic pricing, targeted marketing campaigns, and expanding corporate tie-ups’: Manoj Jangid

      March 29, 2025

      Balancing Luxury and Sustainability

      May 14, 2025

      ‘Weddings and Room Bookings Drive Significant Revenue Growth’: Anirban Sarkar, General Manager, Radisson Blu Greater Noida

      January 15, 2025

      Luxury Hospitality in India: A Market on the Rise

      December 3, 2024

      Redefining Indian hospitality, the TECH way

      June 6, 2024
    • Opinion
      1. Expert Speak
      2. View Point
      3. View All

      The Cart or the Horse?

      May 5, 2024

      Culinary Tourism in India: A Global Perspective

      April 22, 2024

      M+A+S=H

      April 6, 2024

      What is the most important part of developing a risk management plan for a hotel?

      December 14, 2023

      HOTELS, HOSPITALS AND OPPORTUNITIES

      August 24, 2022

      Role of Facility Management in Experiential Tourism: Shaping Unforgettable Journeys in India

      September 27, 2023

      Occupancy Upsurge: Reinvigorating Business

      June 16, 2022

      Lessons from 20:20 for 2020

      January 6, 2020

      Legal Obligations of Lost Properties – Infra Hospitium

      December 30, 2019
    • F&B
      1. Wines
      2. Liquor
      3. Food Processing
      4. Industrial Catering
      5. Cloud Kitchen
      6. Restaurant review
      7. Food Review
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      SulaFest 2025 Kicks Off Its 14th Edition

      February 3, 2025

      Medusa Beverages and Warner Bros. Discovery Global Consumer Products launches the ‘House of the Dragon’ Exclusive Edition

      August 1, 2024

      Mehra Wines sets sights on leading India’s premium alcoholic beverage market

      April 24, 2024

      WIPS-Nashik revived by Govt of Mah, HRAWI applauds the move

      January 23, 2024

      Longitude 77 Collector’s Edition Debuts at Cannes

      May 22, 2025

      Salty Nerd Vodka Launches in UAE, Goa & Karnataka

      May 19, 2025

      Loca Loka Tequila Wins Gold and Silver at 2025 SFWSC

      May 19, 2025

      Indian Liquor Makers to See Over 10% Revenue Growth in FY26

      May 18, 2025

      F&B major FSIPL announces 8 New Products

      October 19, 2022

      The Health Factory startup raised INR 2 crore expanded seed funding

      August 22, 2022

      Sattvik Certifies Indian Beverages Company VARAHI Pvt Ltd

      August 22, 2022

      Cold Chain Storage & Supply to Boost the Consumption of Frozen Poultry

      May 5, 2020

      ‘Our HoReCa clients have saved between INR 2 Lac and INR 15 Lac per year by using our products’ : Jesal Sampat, Executive Director, Pune Gas

      March 29, 2024

      UNESCO New Delhi seeks for expression of interest for catering services

      March 19, 2024

      ‘HoReCa Channel Contributes 80-85% of Real Good Chicken’s Revenue’ : Abhay Parnerkar, CEO, Godrej Tyson Foods

      August 30, 2023

      X Events Hospitality launches #chefstogether campaign to celebrate International Chefs Day

      August 25, 2022

      ‘We are planning to raise around INR 25 cr within 8-10 months’ : Krunal Oza, Founder & CEO of Hustlers Hospitality

      September 2, 2022

      A Feast for the Senses; Sheraton Hyderabad’s Culinary Gem

      February 2, 2025

      Roastery Coffee House : More than just a place to dine

      June 14, 2024

      Glocal Junction: Lifting modern Indian cuisine to new heights

      January 10, 2023

      Little Italy Hyderabad: An Italian gastronomic paradise nestled amidst Jubilee Hills

      December 7, 2022

      ‘Shoyu’ Brings Modern Asian Flavors to Hyderabad

      March 7, 2025

      A Feast for the Senses; Sheraton Hyderabad’s Culinary Gem

      February 2, 2025

      Firewater Neo Bar and Kitchen Sparks Culinary Magic in the Financial District

      February 2, 2025

      Roastery Coffee House : More than just a place to dine

      June 14, 2024

      Kolkata Orders Rooftop Restaurants Closed After Hotel Fire

      May 8, 2025

      Yi Jing at ITC Kohenur Offers a Culinary Escape with New Summer Menu

      May 7, 2025

      18% GST on Meals in Specified Hotels Elevates Dining and Event Costs

      April 14, 2025

      Clara Beach Haven Opens in Goa, Blending Art, Elegance, and Culinary Excellence

      April 7, 2025
    • Education
      1. Institute
      2. Campus
      3. Courses
      4. View All

      Association of Hospitality Professionals Announces the Seventh Edition of Hospitality Challenge 2024

      June 28, 2024

      IIHM and Mayfair Hotels & Resorts Forge Strategic Partnership with MoU Signing

      May 9, 2024

      ‘We focus on equipping students with essential skills‘

      May 6, 2024

      IIHM and IHC Celebrates International Hospitality Day 2024

      April 29, 2024

      Hyatt India collaborates with CII & EHL to launch Vocational Training across its properties in Delhi, NCR and Lucknow

      July 25, 2024

      Association of Hospitality Professionals Announces the Seventh Edition of Hospitality Challenge 2024

      June 28, 2024

      ‘We focus on equipping students with essential skills‘

      May 6, 2024

      Apeejay Institute of Hospitality celebrates the graduation of the class of 2024

      April 4, 2024

      Le Cordon Bleu Gurugram Unveils Advanced Hospitality Training Facilities

      March 20, 2025

      IIHM and Mayfair Hotels & Resorts Forge Strategic Partnership with MoU Signing

      May 9, 2024

      ‘We focus on equipping students with essential skills‘

      May 6, 2024

      Apeejay Institute of Hospitality celebrates the graduation of the class of 2024

      April 4, 2024

      UP’s First State Institute of Hotel Management Nears Completion

      May 21, 2025

      IHM Ranchi and Art of Living Partner for Youth Empowerment

      April 16, 2025

      ISH Hosts Distin-GU-ISH-ED 2025, Celebrates Culinary Excellence

      March 26, 2025

      Le Cordon Bleu Gurugram Unveils Advanced Hospitality Training Facilities

      March 20, 2025
    • Operation
      1. Housekeeping
      2. Kitchen & Bakery
      3. Safety & Security
      4. Equipment
      5. View All

      HPMF Inaugurates 14th Annual Convention with Grand Ceremony in Lucknow

      September 27, 2024

      HPMF Joins Governing Body of Tourism and Hospitality Skill Council

      June 24, 2024

      HPMF to celebrate 14th Anniversary with Awards in Lucknow and Ayodhya Dham

      June 7, 2024

      ‘Addressing the gap between industry demand and workforce skills is a critical challenge’

      May 14, 2024

      ‘Our HoReCa clients have saved between INR 2 Lac and INR 15 Lac per year by using our products’ : Jesal Sampat, Executive Director, Pune Gas

      March 29, 2024

      Hafele Introduces India’s First One Touch Cabinet Mechanism

      January 30, 2024

      X Events Hospitality launches #chefstogether campaign to celebrate International Chefs Day

      August 25, 2022

      Celebrated Chef Anton Mosimann Awarded with Swiss Culinary Merit of Honor

      July 25, 2021

      HRAWI organises FSSAI’s latest FoSTaC Programme in Mumbai

      December 20, 2023

      HRAWI organises Fire Marshals Training Programme

      April 17, 2019

      HRAWI organises fire safety training for hotels & restaurants in Mumbai

      March 20, 2019

      Hyatt and Quimera Energy Efficiency wins the AEE’s Western Europe Region Energy Project Award 2018

      November 9, 2018

      Rajj Tandoors Redefines Tandoor Cooking with Global Vision and Chef-Centric Innovation

      May 12, 2025

      ‘Our HoReCa clients have saved between INR 2 Lac and INR 15 Lac per year by using our products’ : Jesal Sampat, Executive Director, Pune Gas

      March 29, 2024

      GRAFF Unveils the Futurismo Collection for the Kitchen

      September 16, 2023

      EssEmm Corporation launches Cosmos Nut Butter Grinder

      August 4, 2022

      HPMF Signs Landmark MOU with WineGAI

      March 30, 2025

      HPMF and ICF Join Forces to Transform India’s Hospitality Sector

      March 7, 2025

      ‘Addressing the gap between industry demand and workforce skills is a critical challenge’

      May 14, 2024

      Global Revenue Forum 2023 to host Opportunity 2023

      January 12, 2023
    • Product Showcase
    Hospitality Biz India: Latest News & Analysis
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    Home » Demand or Decline: Business Travel Contracting in Uncertain Times
    Guest Article

    Demand or Decline: Business Travel Contracting in Uncertain Times

    HBI Staff | HyderabadBy HBI Staff | HyderabadOctober 28, 2022No Comments4 Mins Read
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    By Andrea Coronel, Co-Founder of Vindow Inc.

    In the hospitality industry, we are seeing divergent opinions from experts on what the future holds for business travel. Some projections offer great news, both about the current state of the industry and what the coming years will hold:

    According to Knowland’s Q3 U.S. and Top 25 Markets Meetings Recovery Forecast (October 12, 2022), “Q3 performance pushes head of the previous forecast and positions 2023 to be a year of growth for hospitality meetings and events… Since the forecast in July, the outlook for the U.S. has been raised from 72.6 percent recovery by the end of 2022 to 73.1 percent recovery… Meeting levels will recover to 106.4 percent of 2019 levels in 2023 and 129.2 percent in 2024.”

    But at the same time, other sources are saying the complete opposite:

    According to Global Business Travel Association’s latest Business Travel Index, “A perfect storm of factors [including]… inflation, energy prices, supply chain challenges, labor shortages and regional developments… will add 18 months to the association’s previous recovery forecast. Rather than the end of 2024, annual business travel spending is projected to reach pre-pandemic spending levels of $1.4 trillion in mid-2026.”

    No matter which forecast you believe, underscoring all these projections is a data gap of almost two years’ worth of recent travel numbers, the result of COVID-related shutdowns. This leaves both the buyers and sellers who depend upon reliable data to negotiate annual contracts for hotel accommodations in a difficult spot: how do you develop an effective strategy when you are unsure of the future?

    Good news: sophisticated sourcing platforms can analyze real-time market data and predictive price trends to quickly determine the fair market rates and rate type to quote for any RFP. This enables both hotels and business travel managers to easily weigh the advantage of fixed rate versus dynamic or hybrid pricing to determine which will be more financially advantageous based on actual usage.

    Here’s how these two rate types can be best leveraged, both for hotels and for business travel managers:

    Fixed Rate Annual Contracting

    Until recent years, all hotel contracts for annual rates (a.k.a. “Corporate Rates”) were fixed. Large corporations and travel management companies, who represent significant annual business travel volume, negotiate annually for fixed, discounted rates from hotels or hotel brands in exchange for guaranteeing a certain number of sleeping rooms; however, in the real world, hotel rates tend to be very responsive to the market dynamics of supply and demand, fluctuating throughout the year based upon seasonality, occupancy and a myriad of other factors.

    Annual contracts have advantages for both parties: hotels get a guaranteed number of room nights per year and build customer loyalty; the buyer enjoys predictable rates all year round, regardless of market fluctuations, which makes managing their travel spend easier. There are also downsides to the practice; for example, during times of high occupancy, hotels may have to honor deep discounts and turn away more lucrative transient business. On the flipside, during periods of low demand, companies may find themselves paying rates that are well above the current market value. Regardless of their drawbacks, negotiated corporate rates have long been the standard practice, and will continue to have a place in hotels’ corporate travel programs.

    But they aren’t the only option; new technologies are making it easier than ever to manage the annual renewal process and allow for a more flexible pricing model.

    Dynamic Sourcing

    Dynamic sourcing lets hotels quote multiple rates over the course of a year, tied to the applicable prevailing market dynamics, typically expressed as “Best Available Rate +/- %” (BAR +/- %). The dynamic sourcing model can offer distinct advantages for all parties.

    Hotels can quote rates that are more in line with prevailing rates for other types of business, including rates for peak/high/shoulder seasons, rate by day of the week pattern, or even designating specific “blackout dates.”

    Buyers also benefit from dynamic sourcing; they can still show overall savings, while aligning their travel policy to take advantage of the available best pricing and reduce their total spend.

    Of course, dynamic sourcing adds a layer of complexity to the already cumbersome process, but that’s where innovative, advanced technology – like Vindow – ­­can help. To better manage your annual hotel contract renewal process, choose the only online RFP sourcing platform that offers flexible rate models, dynamic market trends analysis, and integrated workflow of approvals and see how easy and fast the process can be.

    Author

    • HBI Staff | Hyderabad
      HBI Staff | Hyderabad

      View all posts
    Business By Andrea Coronel Co-Founder of Vindow Inc. Contracting Decline demand Travel Uncertain Times
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    HBI Staff | Hyderabad

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