IN­DIA’S IM­MI­NENT HOS­PI­TAL­ITY BOOM

TravTalk - India - - HOTEL TALK -

In­dian tourism, aided by a steep growth in the hos­pi­tal­ity in­dus­try is go­ing to get big­ger in the com­ing years. Ac­cord­ing to a lat­est re­port by Google and The Bos­ton Con­sult­ing Group, the In­dian travel mar­ket would grow at 11-11.5 per cent to $48 bil­lion by 2020. The re­port hints at a pos­i­tive fu­ture for the hos­pi­tal­ity sec­tor, pre­dicted to grow to $13 bil­lion by 2020 with bud­get and mid­scale ho­tels mak­ing up 52 per cent of the mar­ket. In fact, the bud­get seg­ment boom is al­ready in full swing as mid-mar­ket chains are open­ing prop­er­ties not only in the met­ros, but also in the Tier-II and Tier-III cities. An­other rea­son for this growth and de­vel­op­ment is in­creas­ing de­mand, add with the rise in dis­pos­able in­come. With more In­di­ans mov­ing to­wards higher in­come seg­ments, an­nual av­er­age leisure ho­tel spend per house­hold is ex­pected to in­crease by 7 per cent to $18 by 2020, com­pared to $13 in 2015. This rise would fur­ther aug­ment, ow­ing to in­creased for­eign tourist ar­rival num­bers into the coun­try, es­pe­cially with the new e-visa poli­cies and im­proved air con­nec­tiv­ity in and out of In­dia. To sus­tain this growth, there are prop­er­ties com­ing up around the coun­try, with even global brands mak­ing their pres­ence felt. In­di­ans have a flair for good stay op­tions, not just in the coun­try, but they are ac­tively pick­ing up the per­fect ac­com­mo­da­tion when out­side the coun­try. While many are aware of the pop­u­lar brands, oth­ers are ex­plor­ing lo­cal bou­tique prop­er­ties to ex­pe­ri­ence their own kind of lux­ury and com­fort on in­ter­na­tional shores, which proves that the hos­pi­tal­ity sec­tor re­ally needs to up its ante when it comes to cater­ing to the In­dian con­sumer.

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