- Being a human resource intensive sector, hospitality will be at the brunt end of the impact which the COVID-19 pandemic is having on Indian businesses
- Asset light companies, and those having sufficient cash, should be able to weather out the storm; but larger asset-backed businesses might need support from the Government
- Changing times and altered consumer behaviors have the propensity to influence a change in how hospitality companies engage with their customers
We spoke to Aditi Balbir, CEO at vResorts, to get an insight into the extent and nature of impact that the COVID-19 pandemic (and consequent economic slowdown) is having on the Indian hospitality sector. vResorts is a travel solutions company that provides standardized boutique experiences for leisure travelers. In the discussion, Aditi shares with us her journey with vResorts and how they are addressing the novel coronavirus pandemic that is adversely impacting the sector.
The complete conversation with Aditi can be listened to in this podcast episode on vResorts Story and the Indian Hospitality sector.
A historically and culturally diverse sub-continent, India has always been a destination for travel and tourism. As a result, the hospitality industry has played a big part in extending India’s image as a tourist destination. But hospitality in India is not just about travel and accommodation; experiencing the diversity of India is a big part of Indian tourism. vResorts, a new-age travel solutions company, provides just that – standardized boutique experiences for leisure travellers.
In today’s times, as the COVID-19 pandemic cripples businesses around the world, the Indian hospitality sector has been at the receiving end of the economic recession as well. Preparing for losses – both financial and employment – Indian businesses in the hospitality space are gearing up for a tough financial year ahead.
Inevitably, asset-light companies such as vResorts might be able to hold their ground – and the same can also be said for other similar and cash-rich businesses. But it is large asset-backed hospitality enterprises, such as 4 – 5 star properties, that might find the toll of the pandemic to be a lot more significant.
In her discussion with us, Aditi Balbir – CEO of vResorts, shares not only her and the brand’s story but also how her businesses is addressing the challenges posed by the COVID-19 slowdown. In fact, there is a certain sense of optimism in her message as to how vResorts will come out from the current global scenario – stronger and more agile, compared to its counterparts. After all, situations such as these also present opportunities to try new things, explore new solutions, and optimize existing resources to create measurable value for the business.
You can listen to the complete discussion with Aditi Balbir on on any of our podcast channels below: