Building on the vision of making property ownership accessible, Axis Ecorp is shaping the future of the hospitality real estate sector in India through innovative models like fractional ownership. This approach allows individuals to build assets in prime tourist locations, enabling them to earn rental income from these properties. Asmita Mukherjee spoke with Aditya Kushwaha, CEO and Director of Axis Ecorp, to delve deeper into the company’s plans for introducing and implementing this unique model.
What role does Axis Ecorp play in the Indian travel and hospitality sector?
Axis Ecorp plays a pivotal role in the Indian travel and hospitality sector by pioneering and revolutionizing the concept of holiday homes. As an early mover in this segment, Axis Ecorp recognized the growing demand for flexible and personalized vacation options. We introduced the idea of holiday homes, allowing travellers to enjoy the comforts of home while exploring new destinations. This innovation has been exceptionally well-received in Goa, where we have established a significant presence.
Moreover, Axis Ecorp is at the forefront of reinventing theme-based travel in India, catering specifically to the evolving preferences of young travellers. We understand that today’s travellers seek more than just accommodation; they desire immersive experiences and a slice of life from their destinations. To meet these needs, we have developed unique themed properties that provide a place to stay and a rich, culturally immersive experience. This approach aligns perfectly with the aspirations of young explorers who look for authenticity and adventure in their travels.
How is Axis Ecorp’s business model contributing to the growth of tourism in India?
Axis Ecorp’s business model significantly contributes to the growth of tourism in India through its innovative and strategic approach in the hospitality segment. As a major player and a dominant force in theme-based properties, Axis Ecorp has tapped into the evolving needs of modern travellers, thereby enhancing the overall tourism landscape in the country.
Tourism in India is witnessing substantial growth, driven by both domestic and international travellers seeking diverse and immersive experiences. Axis Ecorp’s introduction and development of holiday homes play a crucial role in this growth. Our holiday homes offer a unique blend of home-like comfort and luxury, providing travellers with personalized and flexible accommodation options. This concept has particularly resonated in tourist hotspots like Goa, where our properties have become synonymous with quality and comfort, attracting a steady stream of visitors.
Moreover, Axis Ecorp’s focus on theme-based properties sets us apart in the hospitality segment. We cater to the young, experience-driven travellers by offering properties that provide not just a place to stay but a thematic and culturally enriching experience. This innovative approach aligns perfectly with the current trends in tourism, where travellers seek meaningful and engaging experiences rather than just conventional lodging.
In addition to boosting domestic tourism, Axis Ecorp’s business model has also attracted significant interest from Non-Resident Indians (NRIs). Investing in holiday homes in India presents NRIs with a lucrative opportunity to stay connected with their roots while enjoying the benefits of a booming real estate and tourism market. The appeal of owning a holiday home in prime locations like Goa offers NRIs a dual advantage: a personal vacation retreat and a high-yield investment option. The demand from this segment has further fueled the growth of holiday homes, making them a vital component of India’s tourism infrastructure.
The demand for holiday homes and secondary housing is on the rise in India, with Goa emerging as a popular hub. What are your insights into this growing trend?
The holiday home market in India is flourishing. The market, valued at USD 1.4 billion in 2021, is expected to grow to over USD 4 billion by 2026, driven by increasing interest from NRIs and high-net-worth individuals (HNWIs) seeking lucrative real estate investments. Goa is considered to be the top spot for holiday homes in India. In 2023, Goa saw a remarkable 130% increase in foreign tourist arrivals, with 4.03 lakh visitors from January to November. The state also welcomed over 3.8 million tourists in the first half of the year alone. This surge is bolstered by Goa’s unique connectivity, being the only small state in India with two operational airports and over 100 flights daily. Additionally, the state is well-connected by sea, road, and rail and is a favoured stop for cruise lines.
Goa’s diverse attractions—ranging from beaches and nightlife to wildlife and casinos—combined with its pleasant climate make it a favoured destination for global tourists. For NRIs, holiday homes in Goa present an excellent investment opportunity, offering a dual benefit of personal use during visits to India and rental income when abroad.
India is a major contributor to the global travel industry. How is Axis Ecorp capitalising on this by encouraging long-term commercial investments in the tourism sector through its projects?
Axis Ecorp is encouraging long-term commercial investments in the tourism sector through its innovative projects. Recognizing the rising demand for holiday homes and secondary housing, particularly in popular destinations like Goa, Axis Ecorp has expanded its inventory to meet this demand, offering a range of luxurious and feature-packed properties.
Axis Ecorp is also exploring the trend of fractional ownership, which is gaining traction in India. This model allows multiple investors to co-own a holiday home, making high-value properties more accessible and providing a flexible investment option. Fractional ownership is appealing to those who want to enjoy the benefits of a holiday home without the full financial commitment.
Can you share some details about Axis Ecorp’s upcoming hospitality projects and the company’s future plans for the hospitality industry?
Axis Ecorp is poised to expand its footprint in the hospitality industry by launching several upcoming projects and strategically increasing its presence in key tourist destinations.
One of our marquee projects is the Dee Fellows Riverside Resort, a boutique hotel that epitomizes luxury and modern elegance. Building on its success, we plan to launch more boutique hotels that provide unique, high-quality experiences tailored to tourist.
Currently, Axis Ecorp has a strong presence in Goa, Ahmedabad, Jim Corbett, and Mussoorie. Our future plans include expanding strategically to other prominent tourist destinations across India. This expansion will be guided by thorough market research and an understanding of emerging travel trends.
We are also gearing up to launch a new project in Goa focused on holiday homes. Additionally, we plan to introduce 10-12 new boutique hotels within the next year, further solidifying our position in the market
Are there any other key achievements in the hospitality and travel industry or aspects of Axis Ecorp’s business model that you would like to highlight?
Axis Ecorp has achieved significant milestones in the hospitality and travel industry, particularly in the holiday home segment. Notably, we successfully launched and sold out a project during the peak of the COVID-19 pandemic, demonstrating our resilience and the strong demand for our offerings even in challenging times. This achievement underscores our ability to deliver high-quality, desirable properties that meet the evolving needs of travelers and investors alike.
Our expansion into the boutique hotel space has been another key highlight. We have established a robust presence in Goa, Ahmedabad, Jim Corbett, and Mussoorie, and we are gearing up to launch a new project in Goa focused on holiday homes. Additionally, we plan to introduce 10-12 new boutique hotels within the next year, further solidifying our position in the market and catering to the growing demand for unique, luxurious travel experiences.
Axis Ecorp’s business model emphasizes innovation and strategic growth. We are exploring the trend of fractional ownership to make high-value properties more accessible and appealing to a broader range of investors.
What is your vision for Axis Ecorp’s role in shaping the future of the hospitality real estate sector in India?
Our vision for Axis Ecorp’s role in shaping the future of the hospitality real estate sector in India is centered around making property ownership accessible and rewarding through innovative models like fractional ownership.
Our goal is to help individuals build assets in prime tourist locations, enabling them to earn rental income from these properties. This model not only provides a tangible asset but also a steady income stream, making real estate investment more attainable and profitable for a broader audience.
asmita.mukherjee@saffronsynergies.in
