Official sources claim that the number of foreign tourists who arrived in India this year during January-June is 43.80 lakh which is 106 percent higher than the figure (21.24 lakh) for the corresponding period in 2022. According to these sources the domestic tourism grew from 677 million in 2021 to 1,731 million in 2022. This has led to a rapid growth in the hotel industry. The occupancy rate and the average room rent have been increasing rapidly. As per the latest Motilal Oswal (Investment services) report, Indian Hotels (IH) reported the highest ever consolidated revenue/EBITDA in 3QFY23 (up 23% / 40% v/s 3QFY20). All this indicates that now is the time to invest in hotels. Ashok Malkani examines various aspects of why it is advisable to invest in hotel industry and issues that one must take into consideration while investing in the industry.
The Indian hotel market, on the whole, has immense growth opportunities. According to a report by Hotel Association of India, it is poised to contribute $ 1,504 billion to the country's overall growth by 2047 from $ 65 billion in 2022.
A report by market research company, Mordor Intelligence, states that the hospitality Industry in India is estimated to be worth $23.50 billion in 2023, and is expected to reach $ 29.61 billion by 2028, growing at a CAGR of 4.73% during the forecast period (2023-2028).
India's hospitality sector is being driven by the increase in the number of hotel projects. India's hotel industry ended in the current year with occupancy in the 59-61 percent range, up 15-17 percentage points (pp) from the previous year. Driven by a strong recovery in demand, hotel companies accelerated their growth plans. The report states that 166 new hotels with 14,885 rooms were signed during the year, while 90 hotels with 5,702 rooms were rebranded.
هذه القصة مأخوذة من طبعة September-October 2023 من Hotel Business Review.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة September-October 2023 من Hotel Business Review.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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The trend of wedding ceremonies and receptions being conducted in hotels has been increasing over the years. The eat, drink and be married” now has a tag attached to it, which is in hotels”. The result is that not only destination weddings but wedding, in general, are contributing to the hotel’s revenue in a great measure. The saying Marriages are made in heaven” now has an attached segment But expenses are borne onearth”. Hotels and resorts have been proving an attractive venue as compared to the other sites, like halls, for people of all categories. Ashok Malkani takes a look at the facilities and other plus points offered by hotels.
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Sprawling in six acres in the midst of the vast open countryside with gentle undulating landscape and clean, fresh unpolluted air, Radisson Hotel Jass Khajuraho is a perfect union of classic design with subtle elegance.
