Anirban Sarkar, general manager of Radisson Blu Greater Noida.Amongst the micro-markets in the Delhi NCR, Noida and Greater Noida always remained in the shadows of the other two—Delhi and Gurugram. But that is no longer the case and the market is fast catching up and with so many favourable factors building up, it is going to be the market to watch out for in the coming years.“So many new developments are happening in the area. The new Jewar airport is a big moment for everyone. The MotoGP which was cancelled this year, is set to start its journey from Noida in the next season. The proposed film city project is also another major driver going forward. Greater Noida has also started hosting cricket leagues,” said Anirban Sarkar, general manager of Radisson Blu Greater Noida. The Noida-Greater Noida market has seen the highest inventory addition in the post-Covid period, said Sarkar citing the recent Hotelivate report. The market has seen 30 percent growth in new supply of rooms between 2019-20 (1378) and 2023-24 (1792) in the organised category. This was 17 percent for Gurugram and less than one percent for the capital territory of Delhi. The next five years’ projections for the Noida-Greater Noida market makes it a market to watch out. It is expected to see a 90 percent increase in supply which as per the Hoteivate report is second only to Amritsar, which is expected to see a jump of 100 percent. Noida-Greater Noida is the second fastest growing hospitality market in the country which is both an opportunity and a challenge for the existing players, Sarkar said. Demand and supply do not grow in an equal proportion in the industry. New infrastructure takes time to come online. It’s this supply lag which gives existing players the opportunity to make profits in between, he observed.While five years is a medium term in business, even in the short-term the market is poised for major shake up in supply. “Between 300 and 400 rooms are expected to be added to the market in the next 12 to 18 months, which is a 20 percent addition,” he said. Even in RevPAR growth, which is an important performance barometer for hotels, the Noida-Greater Noida market registered a robust growth of 18 percent between 2019-20 and 2023-24. Although the market lags behind (INR 4,854) to Delhi (INR 7,886) and Gurugram (INR 5,849) in terms of actual figures, Sarkar is quite confident that with the new infra and events in the horizon, the market will hold the ground in terms of RevPAR growth going forward to enable it catch up with the rest of the markets in coming times. With a lot of new residential settlements coming online, Sarkar also expects the social events and celebrations business also set to contribute to the hospitality and F&B markets business prospects going forward. With an eye on new businesses and emerging competition in the market, his hotel is also looking to give the property a facelift in a few areas. Radisson Blu Greater Noida has already completed the renovation of its banquet facility. The hotel will soon start the renovation of its guest rooms. “We have our mock up room ready. We will take up the room renovations in a phased manner,” he said. The speciality restaurant and the bar are also set for refurbishments.In order to achieve better operational efficiency, the hotel is also investing in upgrading the existing IT infrastructure as well as the whole building management system. “In a competitive market, you need to have good control over cost to build a profitable business,” Sarkar stated.
Published On Nov 25, 2024 at 10:00 AM IST
Join the community of 2M+ industry professionals
Subscribe to our newsletter to get latest insights & analysis.
Download .App
Get Realtime updates
Save your favourite articles
Scan to download App
To list you hotel to sell or lease for free please Click Here
