Indian Hotels CEO on outlook for travel demand

Luxury hotel rates in New Delhi hit record highs at $33,000 per night ahead of the India AI Impact Summit, driven by surging demand from global tech leaders and visiting heads of state. Indian Hotels Company reported a 55% year-on-year net income increase in Q3, significantly beating earnings expectations amid the unprecedented demand surge. CEO Puneet Chhatwal attributed the boom to high-profile events like the AI summit, which has transformed Delhi into a hub for elite business and diplomatic travel. The company’s strong financial performance reflects broader growth in India’s luxury hospitality sector, fueled by post-pandemic recovery and rising corporate travel spending. Chhatwal’s interview highlighted the summit’s role in positioning India as a key destination for high-stakes tech and policy discussions, further boosting premium hospitality demand.