Axis Bank becomes India’s first private sector bank to introduce dedicated Hotel & Hospitality programme; signs MoUs with PHDCCI and TTAG
Bengaluru : Axis Bank, one of the largest private sector banks in India, today launched a dedicated Hotel & Hospitality Programme under its MSME portfolio, offering customised financing solutions for hotels and resorts. The Bank also signed Memorandums of Understanding (MoUs) with the PHD Chamber of Commerce and Industry (PHDCCI- Tourism and Hospitality Wing) and the Travel & Tourism Association of Goa (TTAG).
Today, tourism in India is driven by a wider base of travellers than ever before, reaching new destinations, spending more per trip, and expecting better stays. For hotels and resorts, this has turned into a period of active investment in new properties, renovations and guest experiences. Much of this growth is being driven by mid-sized and independent hospitality businesses that continue to seek financing and banking solutions tailored to their operating realities.
Responding to these evolving needs, the Bank has designed its offerings around the unique requirements of the hospitality sector. The Hotel & Hospitality Programme is built around the way hotels and resorts work, considering hospitality-specific parameters to support their expansion, renovation and asset creation plans. The MoUs with PHDCCI and TTAG add the industry connect, through closer engagement with hotels, resorts, travel operators and allied businesses. Together, they keep the sector’s needs at the centre of how solutions are shaped.
Commenting on the announcements, Vijay Shetty, Group Head – Commercial Banking Group, Axis Bank, said:
” MSMEs run deep across every part of the Indian economy, each with its own way of working. Our effort has been to look beyond a single lending template and shape propositions that reflect the essence of the sector. Tourism and hospitality is one such area, where the way a hotel or resort earns, the seasons it works through and the experience it offers to its guests often ask for a different lens. The Hotel & Hospitality Programme has been built with that in mind, and our associations with PHDCCI and TTAG help us stay engaged to the businesses and the industry conversations around them. As more of the country discovers travel, we would like to stand alongside the enterprises that make those experiences possible.”
Available across India, subject to eligibility criteria, the Hotel & Hospitality Programme offers:
• Term loans and working capital facilities for eligible 2-star, 3-star and 4-star hotels and resorts
• Repayment tenure of up to 10 years
• Sector-specific underwriting based on occupancy, guest ratings and cash flows, enabling faster lending decisions
• Dedicated relationship management support with customised financing solutions
India’s tourism and hospitality sector continues to create opportunities across accommodation, food services, travel, leisure and destination-linked businesses. Through this programme and its partnerships with industry associations, Axis Bank continues its focus on the sector and supports enterprises across the value chain as they invest, grow and cater to India’s growing base of travellers.
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