India Hotel Market to Grow at 15% until 2025
Rising
urbanization, increasing foreign & domestic tourist arrivals coupled with
expanding middle class and young working population to drive hotel market in
India
According to a recently released TechSci
Research report, “India Hotel
Market By Hotel Type, By Revenue Streams, By Booking
Type, By Region, By Major City, Competition, Forecast & Opportunities, 2025”, hotel market in India is projected to grow
at a CAGR of around 15% during the forecast period 2020 – 2025 on account of increasing
number of foreign and domestic tourist arrivals, rising internet penetration, growing
disposable income, increasing passion towards travelling among youngsters and
expansion of the online channel booking due to the higher discount availability.
Also, increasing urbanization, evolving lifestyles, and growing nuclear families in India
are positively influencing the market. Moreover, improved air connectivity is
also significantly aiding the country’s hotel market, especially in the metro
and non-metro cities.
Another important factor boosting India
hotel market is a rising number of people travelling for business purpose
across the country. Hoteliers are increasingly focusing on offering customer-friendly
and comfortable environment coupled with service customization to guests. For
eg. digital check-in service provided by the Hilton in its hotels helps customers
to check-in through the hotel’s app without reaching the hotel physically.
Browse more than 15 market data Figures spread through 70 Pages and an in-depth TOC on"India Hotel Market"
https://www.techsciresearch.com/report/india-hotel-market/4512.html
Hotel market in India is categorized into Upscale, Mid-Market
and Economy segments. Mid-Market accounted for the largest share in India hotel
market in 2019, followed by Upscale Hotels segment. In terms of region, the country’s
hotel market was dominated by North region, followed by West, South and East
regions, and the trend is expected to continue during 2020 – 2025.
Major players operating in India
hotel market include Oravel Stays Private Limited, Indian Hotels Company
Limited, ITC Limited, EIH Limited, Bharat Hotels Limited, Lemon Tree Hotels, The
Leela Palaces, Hotels and Resorts, Marriott Hospitality Services Private
Limited, Hilton India Pvt Ltd, and Radisson (India) Private Limited. Other
players that have noticeable presence in the country include Concept
Hospitality, Sarovar Business And Leisure Hotels Private Limited, Neesa Leisure
Ltd, Pride Hotels Limited, Apeejay Surrendra Park Hotels Limited, Park Hotels
Limited, Berggruen Hotels Pvt Ltd, Wyndham Hotels & Resorts India Private
Limited, Brigade Hospitality Services Limited, Intellistay Hotels Private
Limited, Four Seasons Hotels Private Limited, Intercontinental Hotels Group
(India) Private Limited, Ruptub Solutions Pvt Ltd (Treebo ) and Aapc India
Hotel Management Private Limited.
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“India hotel market is expected to
grow at a rapid pace due to rising urbanization and increasing presence of international
brands across the country. Also, due to the expanding working population,
high-end hospitality services being offering by a rising number of hotels and international
brand expansions, the hotel industry in the country is expected to witness robust
growth in the coming years. Dual-income families is yet another emerging
consumer segment that is being targeted by the leading players operating in the
country’s hotel market.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“India
Hotel Market By Hotel Type, By Revenue Streams, By Booking Type, By Region, By
Major City, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of
India hotel market and provides statistics and information on market structure,
consumer behaviour and trends. The report is intended to provide cutting-edge
market intelligence and help decision makers take sound investment evaluation.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities available in India hotel market.
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