Indian Hotels Company Targets Switzerland and Southeast Asia; Dubai Rebound Stalls
Photo Credit: Taj Dubai in the Business Bay area. Taj Hotels
Skift Take
IHCL would have preferred to enter Switzerland first, but instead chose Frankfurt, where strong India connectivity promised quicker returns, rather than rushing into a costlier, lower-yield Swiss market.
Switzerland and Southeast Asia are next on the list for The Indian Hotels Company Limited (IHCL)'s overseas expansion, CEO Puneet Chhatwal said during the company's earnings call on Tuesday.
Chhatwal named Bangkok, Bali, and Singapore as markets IHCL is looking at closely.
“It’s now long overdue that we get a hotel in Southeast Asia or we get a hotel in Switzerland. Ideally, we would have started with Switzerland and not with Frankfurt,” he said.
IHCL recently opened a 126-room hotel in Frankfurt. Chhatwal spoke about the city’s strong flight connections from Indian cities, and the hope is that travelers passing through on their way to the U.S. might stay a few extra days. But he was clear Frankfurt “is still not Switzerland,” whi
