Puneet Chhatwal has taken the reins as the new chairperson of the Federation of Associations in Indian Tourism & Hospitality (FAITH), succeeding Nakul Anand, the retiring executive director of ITC. Chhatwal, currently serving as the managing director and CEO of Indian Hotels Company Limited, is no stranger to leadership roles, having been re-elected as president of the Hotel Association of India (HAI) in 2022.
Nakul Anand, who bid adieu to his role at FAITH and stepped down from the executive committee of the Hotel Association of India, leaves a legacy of service to the industry.
Chhatwal, acknowledging the challenges and opportunities ahead, expressed his commitment to steering FAITH as a robust policy advocacy body for issues pertaining to the tourism and hospitality sector. He pledged to build upon the foundation laid by Anand, stating, "With the support of all the members, I will strive to make this a strong policy advocacy body and carry forward the legacy built by Anand."
FAITH boasts several national tourism associations among its members, including the National Associations of Tour Operators, Travel Agents, Hotels, Transport Operators, Conventions & Exhibition Operators, and Restaurants and Tourism Attractions.
In a related development, the Indian hospitality industry is poised for a strong quarter, anticipating a substantial 17-18% growth in revenue per available room (RevPAR).
A report by domestic brokerage house Dolat Analysis and Research Themes (DART) highlights the positive outlook, attributing the growth to high average room rates. However, the report cautions that sustaining RevPAR growth in FY25, estimated to be in the single digits, will be crucial for firms' valuations.
The report also identifies potential challenges on the horizon, citing a potential drop in business during the national elections and the risk of the Indian Premier League being held outside India.
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