1/ hotel signings from Tier-III 3

Rapid urbanisation in India is increasingly making Tier-III markets more relevant in the eyes of the hotel brands, according to a ‘India Hospitality Industry Review’ report by HVS ANAROCK.

Nearly a third of new hotel signings emerge from these markets despite hotels being much smaller than those located in Tier-I markets. This is also happening on account of newer hotel management companies setting shop as also the smaller ones looking to grow rapidly through franchise or management agreement of smaller standalone hotels in Tier II, III cities.