Nirav Akshay
CEO
Efcee Hotels - A Leela worldwide Venture
As a result, hotels are adapting to cater to the evolving needs of domestic travelers. The Indian Tourism Statistics 2023 report reveals that domestic visitors constituted about 87 percent of all tourists in India in 2022, a trend expected to continue in 2023. The report also highlighted that around 2.4 billion domestic tourists visited India in 2022, marking a 27 percent increase from the previous year. Factors such as rising discretionary incomes and a growing middle class have made travel more accessible, fueling this surge in domestic travel.
To accommodate the increase in domestic travelers, India's hotel industry has made several adjustments. A recent HVS ANAROCK report projects the Indian hotel market to grow at a CAGR of 10.8 percent between 2023 and 2027. In 2022, India's hotels experienced an overall occupancy rate of around 55 percent, a significant improvement from the previous year's 37 percent. The average room rate (ARR) for hotels in India was approximately INR 6,500 in 2022, with a predicted CAGR of 2.7% from 2023 to 2027. To cater to the growing number of domestic travelers, hotels in India are employing various strategies, such as:
Diese Geschichte stammt aus der June 2023-Ausgabe von CEO Insights.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der June 2023-Ausgabe von CEO Insights.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
ANALYSING PROFITABILITY IN THE BUILDING MATERIALS INDUSTRY IN INDIA: KEY INSIGHTS FOR GROWTH
Abinash Mishra possesses over 24 years of rich professional experience in the building materials industry, driving transformative growth and market expansion. His industry insights and commitment to excellence drive customer-focused innovations
SCALING FROM 10 TO 100 PEOPLE
Arvind Pandit, Founder & Managing Partner, Ishwa Consulting brings over 26 years of multi-domain consulting experience in the areas of organization design, leadership development, talent management, strategy, and executive search.
RAJ IYER: NAVIGATING THE COMPLEXITIES OF TECHNOLOGICAL FRONTIERS IN IT CONSULTANCY AND TRANSFORMATION
IT consultancy and services are crucial for organisations to optimise technology use, enhance operational efficiency, and drive digital transformation.
ALIGNING PROFIT WITH SOCIAL IMPACT
Prashant A. Bhonsle Founder Kuhoo Edufintech Prashant has more than two decades of leadership & entrepreneurial experience across Banking & Financial Services, Information Technology, Office Automation, Telecom, FMCG & Pharmaceuticals industries. His professional experience spans across organizations such as InCred, HDFC Credila, and ICICI Bank.
ARUN B ANILKUMAR - A NEW-AGE TECHNOLOGICAL LEADER LEVERAGING INNOVATION & TECHNICAL EXPERTISE TO REINVENT THE FUTURE
A new-age technological leader with a knack for technology, Arun B Anilkumar currently works as the Chief Technology Officer at Harwell-based futuristic solar energy innovation firm Quantarverse, guiding the firm to grow further and become a leading advanced technology firm across the globe.
CEO Insights TOP 10 GLOBAL INDIAN CTOs 2024
In 2024, Chief Technology Officers in India have increasingly played key roles within the global technology landscape of shaping the future of industries globally.
MICROSOFT AI CEO IS 'BUILDING AI COMPANIONS FOR INDIA'
At present, we can imagine a world where customer interactions are swifter, more intelligent, and highly personalized. This improvement is because of the influence of AI Development in India on customer experience (CX).
SHADOW AI: THE IT INDUSTRY'S LATEST CYBERSECURITY CHALLENGE
As the Advisory Business Leader, Saugat leads a diverse group of practitioners globally, providing management consulting and business advisory services. Saugat also serves as an official member of Forbes Technology Council focused on how Artificial Intelligence and Machine Learning can become core tenets of Digital Strategy.
CRACKING UNSOLVED PROBLEMS IN THE WORLD BY NEW BIOLOGY
Insights shared by Dr. Kiran Mazumdar-Shaw, Executive Chairperson, and Founder - Biocon Limited, and Chairperson of Vision Group on Biotechnology- Government of Karnataka during the Bengaluru Tech Summit 2024.
COMVIVA APPOINTS RAJA MANSUKHANI AS CHIEF STRATEGY, TECHNOLOGY, & TRANSFORMATION OFFICER
Comviva, a global leader in digital transformation solutions specializing in customer experience management, data monetization, and mobile financial services, has announced the appointment of Raja Mansukhani as its Chief Strategy, Technology, and Transformation Officer.
