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India Hotel Market Analysis, Unprecedented Growth Projections and Emerging Trends by 2032

India Hotel Market Analysis, Unprecedented Growth Projections and Emerging Trends by 2032

The recent “India Hotel Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report

The report on the “India Hotel Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.

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India Hotel Market Analysis and Growth Forecast:

The hospitality sector in India primarily thrives on tourism, which is an important source of foreign exchange and employment. The government has taken several initiatives which play a major role for the growth of the hotel industry.

Market insights:

The hotel industry in India is a part of the travel and tourism industry. Business travelers are gradually increasing in number due to the rapid growth of the IT sector and the emergence of several global companies.

The key performance indicators (KPIs) used by the industry to measure business expansion and manage hotels are average room rate (ARR) and revenue per available room (RevPAR). The ARR stood at INR 5,458.68 in FY 2020 as against INR 5,671.00 in FY 2017. It is expected to reach INR 6,292.85 by FY 2025, while expanding at a compound annual growth rate (CAGR) of 2.49% between FY 2021 and FY 2025. In FY 2020, the RevPAR was INR 1,951.34 and is expected to reach INR 3,336.28 by FY 2025. It is expected that the hotel industry will expand at a promising rate since India will be hosting the ICC Men’s World Cup in 2023. It has been assumed that this event would increase the foreign tourists footfall in the country.

Employee management is a major challenge faced by the industry. The attrition rate has gone up due to the lack of workforce quality and increased competition for trained employees from competing service sectors, such as aviation.

Segmentation insights:

Based on hotel type, the hotel industry can be segmented into independent/unbranded hotels, alternate accommodations, new-age hotel chain, and branded or traditional hotels. The independent/unbranded segment accounts for 70% of the total available hotel rooms. The second-largest segment includes alternate accommodations. This is on account of the growing popularity of homestays among tourists. The new-age hotel chain is expected to hold nearly 6% of the total available hotel rooms in India in FY 2025. Moreover, the branded/traditional hotel segment, along with the major share in the organized sector, accounts for about 5% of the overall hotel industry in terms of room supply.

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Government initiatives:

The industry is dependent on the tourism sector for business. The Ministry of Tourism, along with the Ministry of Railways and the Ministry of Civil Aviation, promotes tourism in the country. Therefore, government initiatives play a crucial role in its growth.

The Ministry of Tourism has undertaken 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 encourage tourist inflow.

NABH Nirman, UDAN Ude Desh ka Aam Nagrik, and Vision 2040 are some of the initiatives undertaken by the Ministry of Civil Aviation to enhance air connectivity, which would bring hotel guests even to the most remote corners of the country.

The Ministry of Railways is focused on developing railway infrastructure to ease domestic travel. Domestic travelers constitute the largest share of guest in the hotel industry.

Competition analysis:

The hotel industry is highly fragmented. It is dominated by several small and unorganized players. It has observed a shift in favor of the mid-market and budget hotel segments. Hotel aggregators’ development in the budget segment has led the massive and unorganized hotel industry towards consolidation.

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

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Report Components

Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.

Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.

Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.

Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.

The Analysis Objectives of the Report are:

To determine the size of the Market by identifying its sub-segments.

To research the key players and analyze their growth strategies.

To assess the size and value of the Market based on key regions.

To analyze the Market in terms of growth trends, potential, and participation in the overall sector.

To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.

Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.

To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.

What is new in 2024?

– Major developments that can change the business landscape as well as market forecasts.

– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.

– Coverage of new market players and change in the market share of existing players of the market.

– Updated financial information and product portfolios of players operating in the market.

– Updated market developments of the profiled players.

– Any new data points/analysis (frameworks) which was not present in the previous version of the report

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