Page 93 - Feb-Mar 2024

Embracing leadership: the

power of leading by example

IN A CANDID INTERVIEW, RANJIT BATRA, PRESIDENT, HOSPITALITY,

PANCHSHIL REALTY, SHARES HIS INSIGHTS ON TAPPING THE MYRIAD
OPPORTUNITIES WITHIN THE EVER-EVOLVING HOSPITALITY LANDSCAPE

INTERVIEW BY SHAFQUAT ALI

Considering Panchshil Realty’s significant presence in “INVESTING IN HOSPITALITY PROJECTS
Indian real estate and hospitality, including CAN DIVERSIFY AN INVESTMENT
partnerships with Marriott International and recent
expansions like their hotel in the Maldives, what do you PORTFOLIO, PROVIDING A HEDGE
see as the challenges and benefits of investing in new AGAINST MARKET FLUCTUATIONS IN
hospitality ventures? OTHER SECTORS. MOST IMPORTANTLY,
Investing in new hospitality projects, such as building new BUILDING NEW HOTELS CREATES
hotels, can be both rewarding and challenging. Some of the
key hurdles involved in such investments include high EMPLOYMENT OPPORTUNITIES,
initial investment – building a new hotel requires a STIMULATES LOCAL ECONOMIES, AND
significant upfront investment in land, construction, CONTRIBUTES TO THE GROWTH OF THE
permits, and other associated costs. This financial
commitment can be substantial and risky. HOSPITALITY INDUSTRY IN A REGION.”
With market volatility in play, the hospitality industry is
sensitive to economic fluctuations, changing consumer
preferences, and global events. Economic downturns or assets, appreciating in value over time.
unexpected events like pandemics can significantly impact Investing in hospitality projects not only diversifies
the success of new hotel projects. Another is regulatory investment portfolios but also serves as a strategic hedge
challenges like obtaining permits, adhering to zoning against market fluctuations in other sectors. Beyond
regulations, and meeting various legal requirements can be financial gains, such ventures stimulate local economies,
time-consuming and complicated. foster employment opportunities, and contribute
Navigating through these bureaucratic processes can significantly to the growth of the hospitality industry
delay project timelines. From a competition viewpoint, the within a region. However, navigating this terrain
market might be saturated with existing hotels or face successfully demands meticulous market research,
future competition from other new hospitality projects. strategic planning, and a forward-looking vision to mitigate
Managing the day-to-day operations, hiring and training potential risks. Despite challenges, the rewards, both in
staff, ensuring quality service, and maintaining standards terms of financial returns and the positive impact on brand
can be demanding, especially in the initial stages. recognition and local economies, can be substantial.
Developing brand awareness and cultivating a dedicated Atul Chordia, Chairman of Panchshil Realty, epitomizes
clientele necessitates targeted marketing strategies and dynamism, with an unwavering commitment to innovation
financial commitment to advertising. and an acute attention to detail that sets Panchshil’s
On the other hand, rewards are substantial with hospitality business apart. Renowned in Indian real estate
successful hotel projects yielding significant returns on circles, Chordia’s ownership of the Panchshil Group has
investment. As the property gains popularity and reshaped the Pune skyline, introducing a diverse range of
reputation, it can attract more guests, leading to increased luxury hotels, business parks, residential complexes, and
revenue and profitability. Hotels can be valuable long-term shopping malls.

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