Hotel Industry in India (2018-2023)

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Hotel Industry In India (2018-2023)
Published on 22 Dec 2022
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Report Overview
The Indian hospitality industry, spearheaded by
the hotel market, has emerged as one of the
primary sectors which are driving the economic
growth of the country. In India, hotels are
classified based on location (city hotels,
airport motels, resorts, etc.), level of service
(upscale, mid-market, and economy), and themes
(boutique hotels, heritage hotels,
etc.). Market insights The hotel industry in
India is expected to reach a value of INR
1,210.87 Bn by the end of 2023, expanding at a
compound annual growth rate (CAGR) of 13 during
the 2018-2023 period, owing to the high arrival
rate of foreign tourists and business
delegates Market segment insights Kerala is
anticipated to be the leading provider of
hospitality services in the country, with a total
of 440 approved hotels. Maharashtra, Gujarat,
Rajasthan, and Tamil Nadu are the other states
that make up the list of top five states with
regard to hospitality services. Market trends
Hotel owners are adopting the latest marketing
practices through social media, which prove to be
effective in generating exposure and higher
volume of bookings. Key growth drivers of the
market During CY 2017, the total number of
foreign tourist arrivals in India stood at 10.04
Mn and reached 6.75 Mn in January-August 2018,
registering a YoY growth rate of 7.5. Key
deterrents to the growth of the market The
implementation of the goods and services tax
(GST) has helped customers of the hospitality
industry with reduced expenditure, by harmonizing
taxes and reducing business transaction costs.
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Table Of Contents
Chapter 1 Executive summaryChapter 2
Socio-economic indicatorsChapter 3
Introduction Chapter 4 Hotel industry in
India Chapter 5 Hotel industry in India
segmentation Chapter 6 Key trends of the
marketChapter 7 Key growth drivers of the
marketChapter 8 Key deterrents to the growth
of the marketChapter 9 Competitive landscape
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By Region
United States
Europe
China
Rest of the world
Japan
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Market Size
Expected to reach 1,210.87 Million INR by the
end of
Forecast year
2023
2018
Base year
CAGR 13 (2018 - 2022)
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ustry-in-india-2018-2023

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