India Hotels Market

   2021-07-12       26        Business
Rating :
India Hotels Market revenue was US$ 23.69 Bn in 2019 and is expected to grow at a CAGR 9.1% in forecast period.

India Hotels Market revenue was US$ 23.69 Bn in 2019 and is expected to grow at a CAGR 9.1% in forecast period.
India Hotels Market

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India Hotels Market Drivers and Restrains and Opportunities:

With opening up of the Indian economy in 1991 and the adoption of globalization, there has been a steep rise in the operational activities of hotel industry. Hotel industry in India is a flourishing sector. An increasing international sports events, trade fairs and exhibitions are expected to contribute inflows of international tourists and domestic tourist movement.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.

Major factors such as rising purchasing power parity of domestic travellers, developing airline industry, increasing foreign tourist arrival and relaxed visa restrictions are driving the India Hotel Market over forecast period. Moreover, GST council’s rate cut from 28% to 18% for luxury hotels and from 18% to 12% for midscale hotels is expected to drive Indian hotels market over forecast period.

However, shortage of rooms supply, high labor cost are serious concern for Indian hotel industry as the industry is already running in employee deficit and retaining the existing employees is very hard as the switching cost for employees is low.

Leading hotel companies are leveraging advance technologies such as artificial intelligence, machine learning, IoT and near-field communication, mobile payment and data analytics to increase online reservations, improve the return on advertising spend, better understand guest preferences and build stronger customer relationships. These technologies are expected to create lucrative opportunities for market over forecast period.
India Hotels Market Segmentation Analysis:

India Hotels Market is segmented by based on Location, by Size of Property, by Level of Service, and by Theme. By location, city hotel segment held 37% of market share in 2019 and is expected to keep its dominance over forecast period. These hotels are generally located in the premise of a city within a short distance from the business center, shopping center and railway junctions. Rates are high due to their prime location advantages. They experience high traffic and the occupancy is generally high.

By theme, heritage hotel theme segment is expected to hold highest market share over forecast period. These hotels have historical infrastructure. These hotels put their best efforts to give the glimpse of their region through regional art and traditional cuisine.
By level of service, mid-scale hotel is expected to hold 40.21% market share over forecast period.

Mid-scale hotels offers limited number of on-site amenities and often only offer suits rooms accommodations with little services, these facilities normally only cater and attract to a specific demographic of travelers. Midscale hotels followed by Economy and Luxury hotels. Economy hotels offers limited services often lack an on-site restaurant but in return may offer a limited complimentary food and beverage amenity such as on-site continental breakfast service. These hotels offers small living rooms and with appropriate furniture and small bedroom with a king sized bed.



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pallavi narwade

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