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Binod Chaudhary may be famous globally for his work on consumer brand Wai Wai noodles, but his involvement in the hospitality industry is also extensive. Chaudhury spoke to ET HospitalityWorld about his company CG Hospitality, a division of Nepal-based Chaudhary Group, and his vision for the future. Chaudhary first said that he was very proud to have started his journey in the hospitality industry in 2001 by opening hotels – Taj Samudra, Taj Exotica and Taj in Maldives and Sri Lanka in partnership with IHCL. coral reef.
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Chowdhury said the first thing they do when entering the industry is understand what the global trends are and what his company’s strengths are.
“Our core is Asia. We have investors and dealmakers. We also have strong self-confidence. Coming from tougher (business) environments like Nepal and Sri Lanka, we are prepared to take greater risks,” he said.
While the company began venturing into the luxury and premium segments, including becoming one of the pioneers in the luxury safari segment in India with the country’s first Taj Safari Hotel in 2004, Chaudhary said he also felt the need to Have a strong influence. Targeting the mid-range and above market, they have an agreement with Concept Hospitality.
“We’re excited to be entering this (mid-sized) business with the right people at the right time. Today, Concept Hospitality’s brand is one of the top three mid-sized brands and is growing faster than any other brand.”
He added that they have also had great success in venturing into the health sector with The Farm in San Benito, Philippines, where competition from global players is fierce.
“Most importantly, we are very pleased and have grown into a group with an interest in a portfolio of over 170 hotels, some of which are our own investments, such as with IHCL and Fairmont (Kenya), and some of which are The joint venture, where we were also a pure management company, has now become asset-heavy as well,” Chowdhury said.
He said that the company is currently focusing on the development of the Indian market, which is becoming the focus of the global hotel industry, and believes that there is an opportunity to achieve exponential growth here for at least the next decade, adding that as the aspirations of the Indian people continue to There is huge potential to grow in work and leisure travel, and it is only now beginning to be unlocked.
“I see a company like Fern being able to add 1,000 hotels, not 150, and that’s how I look at the opportunities that exist (in the Indian market),” he added.
Looking ahead to the next decade, Chowdhury first said that he would not really focus on greenfield projects but more on brownfield and retrofit projects, adding that the company currently has a very good portfolio of assets.
“I think India has a very unique situation. The country’s mid-sized market (box-simple, powerful) is going to explode. Very cost-effective, technology-driven, lower labor costs, higher gross margin on assets,” he said of the future Shi said, adding, “There will now be competition among operators to see who can provide better profits. “
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