“In the post-corona world, everyone will be worried about touching or coming in contact with anything which they don’t know, be it people, surface or anything else. And this fear will be there for a good amount of time. It’s not gonna go away in the next couple of months for sure,” — Yulu founder Amit Gupta
As the world looks to bounce back from the Covid-19 pandemic and the months-long lockdown, the travel and hospitality sector is coming to terms with the fact that perhaps it will never bounce back to the same levels of business growth as pre-Covid. Yes, domestic travel in India has resumed gingerly, but hospitality is a long way off from coming back to business.
The total contribution of the travel and tourism sector to India’s GDP was expected to rise to INR 32 Lakh Cr ($ 492.21 Bn) by 2028, but the pandemic has dented this trajectory. But as the hospitality and tourism industry rebuilds for a new tomorrow, what playbook should it follow? After all, a pandemic is unprecedented and there’s no past to fall back on.
As “social distancing” becomes the norm, travel and hospitality consumers and businesses will look to alter their typical day-to-day behavior and operations. Sanitation and hygiene will come higher on the priority list for consumers, while hotels will need to ensure extensive measures are taken to limit the spread of any germs or viruses — more so than before.
But more than anything, it’s about winning back the trust of the consumer and the travelers. Curfews and lockdowns have created a tough climate for hotels, restaurants, cafes, and any business that is dependent on guests walking in. The pandemic has created fear and mistrust among people for things outside the home, and hotels will have to spend to make up for this. So what does the future hold for India’s massive hospitality segment and how will it shape the industry?
In our next #AskMeAnything session, we will dive deeper into how the Indian hospitality industry and startups will have to tailor their operations, models, and revenue expectations for the post-COVID world.
About The AMA
Through the Inc42 #AskMeAnything sessions, we are looking to lay out the blueprint for the future. Every industry is going through an upheaval and every startup will need a helping hand to get through this tough time. So while we have touched upon everything from the VC outlook for 2020, to the future of logistics, to SaaS and mobility, hyperlocal deliveries, it’s time to focus on the massive hospitality sector and who better to take the lead than OYO founder and CEO Ritesh Agarwal. The session will focus on “Building The New Playbook For Hospitality” with Ritesh’s unique perspective on the Indian and the global travel market.
Through the years, Ritesh has led OYO to become one of the most successful global brands from India and has entered territories no one thought an Indian startup would, such as the vaunted Las Vegas casino market. But in India too, OYO has had to navigate a host of challenges and has continually tailored its model to suit the market needs and demand.
So join us for this riveting live AMA session with Ritesh Agarwal on June 4 to get all your questions answered.
About Ritesh Agarwal And OYO
From starting up at the age of 19 to building a brand that even US President Donald Trump is familiar with, OYO founder Ritesh Agarwal is easily one of India’s brightest entrepreneurs.
Opening its doors in 2013, OYO Hotels & Homes, a young hotel startup, today is the world’s leading chain of hotels and homes. OYO today operates in over 800 cities in 80 countries, including the U.S., Europe, U.K., India, Middle East, Southeast Asia, and Japan. Gurugram-based hospitality unicorn posted revenue of INR 6619.26 Cr in FY19, with more than half (INR 3749.13 Cr) coming from its India business.
The #AskMeAnything session will be followed by a Q&A where you can ask Ritesh anything you want.