Fillip to aviation, budget Hotels: Hosp Industry to grow by $ 30 Bn in ’15

Default, Hospitality — By on February 27, 2012 at 12:58 pm

‘Hotel Industry in India (2011-2015)’, a studied analysis by experts, states that the Indian hospitality industry has emerged as one of the key industries driving growth of the services sector in India. The Industry is designed to achieve an expected growth of $ 30 billion by 2012. The prospects of the hospitality industry have always been hinged on to the prospects of the tourism industry and tourism is the foremost demand driver of the industry. The Indian hospitality industry has recorded healthy growth fuelled by robust inflow of foreign tourists as well as increased tourist movement within the country and it has become one of the leading players in the global industry.

The Indian hotel industry is highly fragmented with a large number of small and unorganised players accounting for a lion’s share. An analysis of the drivers reveals the factors for growth of the market and includes growth in tourism, opening of the aviation sector, emergence of budget hotels, shortage of hotel rooms and major events. India being a land of rich natural diversity has consistently been on the tourists’ radar and tourism has been on a growth trajectory. India is considered provider of low cost medical treatments, which has led to the development of India as a destination for med tourism. These factors have contributed to the growth of tourism which is a powerful driver for growth of the hotel sector. The opening up of the aviation sector has provided the needed thrust. Development of more and more budget hotels has also been an added driving force. Such hotels are constructed to tap consumers who seek stay at affordable price. International companies are increasingly looking at setting up such hotels.

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