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Hotel Industry In India

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

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Hotel Industry In India

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  1. Hotel Industry In India (2018-2023) Published on :22 Dec 2022

  2. 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.

  3. ABOUT AARKSTORE Aarkstore Enterprise has made its global presence known since 2008, selling market research reports gathered from well-known and competent publishers. The organization trades in syndicate reports, and custom reports, and delivers impeccable consulting services to clients. We also specialize in market research updates and promotion. Be it regarding competitors, target audience or any other market segment our latest market research reports on industries are the solutions for your requirements. Besides, our ad-hoc reports are at your demand for your kind needs. With a transparent pool of information, the firm meets its visions, targeting possible prospects, and commitments to a high standard. We get first-hand information from experts on the current scenario and offer market forecasts, primary market research, and secondary market research report data, all under one roof. Download Free Sample +91 9987295242 enquiry@aarkstore.com

  4. 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

  5. By Region United States Europe China Rest of the world Japan +91 9987295242 enquiry@aarkstore.com

  6. Market Size Expected to reach $ 1,210.87 Million INR by the end of Forecast year 2023 2018 Base year CAGR 13% (2018 - 2022) +91 9987295242 enquiry@aarkstore.com

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