FHRAI, IAAPI ink MoU for industry collaboration

New Delhi: The Federation of Hotel & Restaurant Association of India on Monday said it has signed an initial pact with the Indian Association of Amusement Parks and Industries (IAAPI) to strengthen collaboration and promote sustainable development within their respective industries.

As per the Memorandum of Understanding (MoU), the associations will explore collaborative opportunities and synergies, the Federation of Hotel & Restaurant Association of India (FHRAI) said in a statement.

The primary objective is to facilitate meaningful interactions and business engagements among their members, emphasising collective growth and mutual benefits through cross-industry collaborations, it added.

"This MoU marks a significant milestone in fostering collaboration and synergy within the hospitality and amusement park industries. By working together, we can unlock new opportunities for growth and innovation, ultimately benefiting our members and the industry at large," FHRAI President Pradeep Shetty said.

The key areas of cooperation outlined in the MoU include the sharing of association publications such as in-house magazines, newsletters, and periodicals, as well as the dissemination of important news, information, and event details to respective members through various channels including email, websites, publications, and digital media platforms.

It also entails the exchange of faculty for conferences and webinars, reciprocal booth arrangements at major events and exhibitions organised by each association, and concessional rates for association members to participate in events and conferences, the statement said.

The MoU will take effect immediately upon signing and is based on mutual understanding and will have no legal or financial implications on either organisation, its members, office bearers, or secretariat, it added.