Report Ocean introduces a fresh report examining the ‘India Hotel Market’, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
Obtain a comprehensive report on the India Hotel Market, which includes a full table of contents, over 100 tables and figures, and charts. The report provides precise information on the market before and after the COVID-19 outbreak, segmented by region.
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The hospitality sector in India thrives primarily on tourism, serving as a vital source of foreign exchange earnings and employment generation. The Indian government has taken several initiatives to foster the growth of the hotel industry, playing a pivotal role in its expansion.
Market Insights:
The hotel industry in India is an integral part of the broader travel and tourism sector. The rising number of business travelers, driven by the rapid growth of the IT sector and the establishment of global corporations, has been a notable trend.
Key performance indicators (KPIs) utilized in the industry to gauge business expansion and hotel management include the average room rate (ARR) and revenue per available room (RevPAR). In FY 2020, the ARR stood at INR 5,458.68, compared to INR 5,671.00 in FY 2017. Projections indicate that it will reach INR 6,292.85 by FY 2025, growing at a compound annual growth rate (CAGR) of approximately 2.49% between FY 2021 and FY 2025. In FY 2020, the RevPAR was approximately INR 1,951.34, expected to escalate to INR 3,336.28 by FY 2025. The hotel industry is poised for promising growth, especially with India hosting the ICC Men’s World Cup in 2023, likely to attract increased foreign tourist footfall.
One of the major challenges faced by the industry pertains to employee management. The attrition rate has risen due to the scarcity of skilled personnel and heightened competition for trained employees from other service sectors, notably aviation.
Segmentation Insights:
The hotel industry in India can be segmented based on hotel types, including independent/unbranded hotels, alternate accommodations, new-age hotel chains, and branded or traditional hotels. Independent/unbranded hotels represent approximately 70% of the total available hotel rooms. The second-largest segment comprises alternate accommodations, reflecting the growing popularity of homestays among tourists. The new-age hotel chain is expected to account for nearly 6% of the total available hotel rooms in India by FY 2025. Additionally, the branded/traditional hotel segment, which holds a significant share in the organized sector, constitutes approximately 5% of the overall hotel industry in terms of room supply.
Government Initiatives:
Government initiatives play a pivotal role in shaping the industry, which relies heavily on the tourism sector. The Ministry of Tourism, in collaboration with the Ministry of Railways and the Ministry of Civil Aviation, actively promotes tourism in the country.
The Ministry of Tourism has introduced various schemes such as PRASHAD (National Mission on Pilgrimage Rejuvenation and Spiritual Heritage Augmentation Drive), SWADESH DARSHAN (Integrated Development of Tourist Circuits around Specific Themes), and the promotion of e-visa to stimulate tourist inflow.
The Ministry of Civil Aviation has launched initiatives like NABH Nirman, UDAN – Ude Desh ka Aam Nagrik, and Vision 2040 to enhance air connectivity, facilitating access to even the most remote corners of India for hotel guests.
The Ministry of Railways focuses on developing railway infrastructure to ease domestic travel, as domestic travelers constitute the largest share of guests in the hotel industry.
Competition Analysis:
The hotel industry is characterized by high fragmentation, with numerous small and unorganized players. There is a noticeable shift towards the mid-market and budget hotel segments. The development of hotel aggregators in the budget segment has contributed to the consolidation of the previously fragmented hotel industry.
Companies Covered:
- Bharat Hotels Limited
- Hotel Leelaventure Limited
- ITC Hotels Limited
- Lemon Tree Hotels Limited
- The Indian Hotels Company Limited
- Sarovar Hotels Private Limited
- The Park Hotels
- Hyatt Hotels and Resorts
- Marriott Hotels India Private Limited
- Radisson Hotels Asia Private Company
Reasons to Consider Purchasing the India Hotel Market Report:
Comprehensive Market Insights: Delve into the depths of the India Hotel Market Report to gain an all-encompassing and meticulous analysis of the market landscape. Uncover details such as market size, share, trends, and growth catalysts, which provide invaluable perspectives on both the present market scenario and its promising future prospects.
Reliable Projections: Rely on the report’s dependable forecasts and projections, which are underpinned by rigorous research methodologies, insights into industry expenditures, and assessments of market expansion rates. These foresights empower businesses to make well-informed decisions and chart out effective strategies for the times ahead.
In-depth Competition Analysis: Equip yourself with an extensive evaluation of key market players, their array of products, and the strategies they employ. This comprehensive understanding arms businesses with the knowledge needed to not only comprehend their rivals but also to craft strategies that position them ahead in the dynamic market arena.
Clear Market Scope and Segmentation: Gain clarity on the broad expanse of the market through the report’s clear delineation of market scope. With detailed insights into diverse market segments and their growth potential, businesses can discern and capitalize on opportunities that align with their objectives.
Insightful Regional Examination: Assess the market’s performance across different regions, enabling enterprises to pinpoint lucrative markets and tailor their approaches accordingly. With region-specific insights, businesses can adapt strategies that resonate with the unique dynamics of each area.
Evaluation of Industry Technology: Grasp the pulse of technological progress within the India Hotel market. The report dissects cutting-edge advancements and trends, providing businesses with a window into emerging technologies that have the potential to reshape the industry.
Dynamics of Supply and Demand: Acquire a profound comprehension of supply-demand dynamics. This understanding empowers businesses to optimize production, distribution, and inventory management processes, resulting in enhanced operational efficiency.
Informed Investment Decision Making: Leverage the report’s critical information and data-driven insights to facilitate informed investment choices within the India Hotel market. Equipped with this knowledge, businesses can confidently allocate resources to avenues with the greatest potential for returns.
Unveiling Long-Term Growth Avenues: Through the scrutiny of trends and growth stimulants, the report illuminates the enduring opportunities the India Hotel market holds. By identifying these sustainable growth prospects, businesses are poised to set a course for lasting success.
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