HERALD: How has business been for you in this festive season?
VINCENT RAMOS: Business has been excellent this festival season. We have grown over the last year. Our average room rate has increased by 10%. Once you have the growth on occupancies and ARR, you have growth. The growth in occupancy has been 10%. We have five properties in the State including Ginger. The Taj Exotica contributed the most to the bottom-line. We are strategically placed, we have a hotel in the city and we have two hotels in the North, supposed to be very happening and very different from South Goa, in the North it is to see and to be seen and the South is for people who have seen that and done that. It is more relaxed. We have a presence in every segment.
HERALD: How do you see the business evolve in the next five years for you?
VR: Weddings is a big market now for us. People want to make a statement that they got married in Goa. MICE is very important in our mix. It is a business where the person eats in the hotel all the time. In FIT the guest can leave after breakfast. More money in MICE. Weddings are driving business, though conferences also happen a lot. Weddings contribute 8% to the bottom line and growing year on year by 15%. All the four properties put together it would be 15% and it will go to 20%. The 8% is Taj Exotica and it will grow to 15%. We are gearing for it. We are bringing in more facilities, more infrastructure to cater to this segment. We are going to have bigger banquet areas, more venues, we are trying to be equipped for the wedding segment. We will have a bride room, groom room. Most of the weddings we have are NRI weddings and most of the time the couple is multi-racial with one being Indian. In Rajasthan the bill for weddings can go to Rs. 6 crores per wedding. We don’t accept cash. If payment of Rs 50,0000 is due we will take a cheque of Rs 49,000. We are very clear about our ethics. We have lost business.
HERALD: How do you see tourism evolve in the state in the next five years?
VR: In a big way. Weddings will grow as a business for hotels in Goa and with flights, people are also considering India and we have so much to offer. We can offer the backwater, we now offer water baraat where people come by boat in Kerala. People also want to experiment. Couples come in helicopters. People are willing to spend any amount on money on this segment especially. It will be more experience related, there is competition when it comes to weddings. Apart from MICE too the business will grow. The markets are changing. We are getting more people from the neighbouring countries of Russia. Today people from Italy, Spain are looking at India as a destination they would like to visit. The business works on word of mouth. Platforms like Trip Advisor are being used to get information and spread word on experiences. For one segment next year I already have 2000 nights booking. It is the charter segment but very small, high end charter. From London and other parts of the UK. The success of your business is on repeat bookings.
HERALD: You have properties in the State and all of them have been around for fifteen to twenty years, very luxurious, a lot of new properties have come in with new the latest technology, how do you cope in such a market?
VR: We have taken care of the dated problem by renovating the rooms. In Fort Aguada we spent Rs 1 crore per room to make the whole room new. At the Taj Exotica 40 rooms are left, the other 100 rooms are brand new rooms with the latest technology.
HERALD: Given the rise in popularity of Airbnb, bed and breakfasts and other platforms many people even at the higher end want to stay in residences during a holiday and want to get away from a conventional stay, how do you cope?
VR: Airbnb may be the latest but they cannot cope with hotels. I know of guests who went to a residence he found on that platform and the owner’s dog bit him. In the five-star property we look at hygiene. The risk factor is high in Airbnb, it is growing but it is all about experience. Let them experience it and finally people will have their say. When people taste something bad they will realise the value of something good.
HERALD: What are your plans for the future?
VR: We want to expand our presence in Goa. We are in big expansion mode. You will see us with new hotels in different segments of Goa. We are looking at atleast three properties, new build plus tie up management, we are in talks with many people. We have a huge land bank, we are going to add rooms in existing properties plus we are talking to owners and they are keen. We also want to build new hotels. It will be more towards the north. We are very ambitious to grow. We will employment to the local population. The plans are out , physically you should hear from us in three years.
