India Hotels Market: Global Industry Analysis and Forecast (2023 -2029) Trends, Statistics, Dynamics, Segmentation by Equipment Type, Application, Distribution Channel, and Region

India Hotels Market Size was valued at USD 29.40 Mn. in 2022 and the India Hotels Market is expected to grow by 9.7 % from 2023 to 2029, reaching nearly USD 56.21 Mn.

India Hotels Market Overview:

India Hotels Market refers to the collective industry of accommodation services provided by hostels across various cities and tourist destinations. It includes establishments such as luxury hotels, budget hotels, resorts and homestays, catering to domestics and international travelers. India Hotels Market has advanced implementations such as user of touch less check-in and check-out and digital room keys, personalized concierge services throw mobile app and use of AI as chat bot for customer support. These advancements not only improve operational efficiency but also offer a seamless and convenient experience to guests. The Evolve Back Kamalapura Palace in Hampi has been selected as the official venue partner for hosting the G20 members for the highly anticipated Third G20 Culture Working Group (CWG) and the Third G20 Sherpa meetings.India Hotels MarketTo know about the Research Methodology :- Request Free Sample Report

India Hotels Market Dynamics:

Since the 1991 Indian economy started to open up and the adoption of globalization take place, the hotel industry has experienced a significant increase in operational activities such as international sports events, trade fairs, and exhibitions, which are expected to attract both international and domestic tourists. The MMR report analysis consists of the impact of covid-19 pandemic on the sales revenue of the market leaders, followers, and disruptors. The India Hotel Market is driven by major factors such as the increasing purchasing power parity of domestic travelers, the airline industry's growth, a rise in foreign tourist arrivals, and relaxed visa restrictions. Additionally, the reduction of the Goods and Services Tax (GST) rates by the GST council, from 28% to 18% for luxury hotels and from 18% to 12% for midscale hotels, is expected to further boost the Indian hotels market during the forecast period. Nevertheless, the Indian hotel industry faces concerns regarding the shortage of room supply and high labor costs. The industry is already experiencing an employee deficit, and retaining existing employees is challenging due to the low switching cost for employees. Leading hotel companies are capitalizing on advanced technologies such as artificial intelligence, machine learning, IoT, near-field communication, mobile payment systems, and data analytics. These technologies are being used to increase online reservations, optimize advertising spending, gain a deeper understanding of guest preferences, and foster stronger customer relationships. These technological advancements are anticipated to create profitable opportunities for the market in the forecast period.

India Hotels Market Segment Analysis:

Based on Location, the Indian Hotels Market is segmented into Location, Size of Property, Level of Service, and Theme. In terms of location, the city hotel segment accounted for 35% of the market share in 2021 and is projected to maintain its dominant position throughout the forecast period. These hotels are typically situated within cities, near business centers, shopping centers, and railway junctions. Due to their prime locations, their rates are comparatively higher. City hotels experience high footfall, resulting in consistently high occupancy rates.India Hotels Market1Based on Theme, the Indian Hotels Market is segmented into the Heritage hotel, Ecotels, Boutique hotels, and Spas. The heritage hotel segment is expected to hold the largest market share over the forecast period. These hotels boast historical infrastructure and make concerted efforts to provide guests with a glimpse of the region's cultural heritage through regional art and traditional cuisine. These hotels often offer guided tours, cultural performances, and activities that allow guests to engage with the local heritage. They attract both domestic and international tourists who seek authenticity and a deeper connection with the heritage of the place they are visiting. Based on the Size of Property, the Indian Hotels Market is segmented into Small hotels, Medium sized hotels, Large hotels, Mega hotels, and Chain hotels. Mid-scale hotels provide a limited range of on-site amenities and primarily offer suite-style accommodations with minimal services. These facilities typically cater to and attract a specific demographic of travelers. Midscale hotels are followed in the market hierarchy by Economy and Luxury hotels. Economy hotels, on the other hand, offer limited services and often do not have an on-site restaurant. However, in exchange, they may provide a modest complimentary food and beverage amenity, such as an on-site continental breakfast service. These hotels feature small living rooms furnished with appropriate furniture and compact bedrooms equipped with a king-sized bed.

India Hotels Market Regional Analysis:

Chandigarh is poised for growth in the India Hotel Market in the coming years. Chandigarh's urban development and modern infrastructure, along with its thriving industries and renowned educational institutions, attract a significant number of business travelers and visitors. This drives the demand for hotel accommodations in the city. Furthermore, Chandigarh has well-planned architecture, and beautiful gardens, attracting tourists that appeal to domestic and international tourists, further increasing the need for hotels. Moreover, Chandigarh's excellent connectivity and its proximity to popular destinations make it a convenient transit point, which contributes to the growth of the hotel market in the city. The local government's proactive efforts in promoting tourism and enhancing the hospitality infrastructure also play a significant role in fueling this growth. New Delhi has dominated the India hotel market in 2021 expected to show the same dominance over the forecast period, due to its status as an economic and political hub, attracting a large number of business travelers and corporate events. As the primary international gateway to India, it receives a substantial influx of foreign tourists. New Delhi's cultural and historical significance, a diverse range of accommodations, and the hosting of business conferences and trade fairs contribute to its thriving hotel market. Government support, a well-established hospitality industry, and cultural events and festivals further bolster New Delhi's position as a preferred destination for travelers.

India Hotels Market Competitive Landscape:

The India Hotels market is characterized by intense competition among both global and regional players. Key market participants are constantly focusing on product innovation, technological advancements, strategic partnerships, and market expansion to gain a competitive edge. Understanding the competitive landscape is crucial for industry players to identify their position, assess market opportunities, and develop effective strategies.India Hotels Market2The Indian hotel market exhibits a high degree of fragmentation, characterized by a significant presence of numerous small and unorganized players. The mid-scale and economy segments are expected to dominate the market over the forecast period. Notably, international hotel chains such as Hyatt Hotels Corporation, InterContinental Hotel Groups, Marriott International, and Radisson Blue Hotels are experiencing rapid expansion in India. Simultaneously, Indian groups such as Taj, OYO, Oberoi, ITC, and The Leela are primarily focused on owning and operating their hotels. The Indian hotel distribution chain consists of primary and supporting activities that encompass hotel service operations, branding, and distribution. Branding plays a crucial role as it establishes the identity and visibility of a hotel chain. Taj Hotel and OYO Rooms are noteworthy examples, representing luxury and budget accommodations respectively. To cater to the budget accommodation segment, online platforms such as Oravel Stays (OYO Rooms), WudStay, Zostel Hospitality, FabHotels, and Treebo have formed partnerships with standalone hotels and guesthouses. These partnerships enable marketing, distribution, and quality assessments for these establishments. These companies have successfully raised significant venture funding and are implementing ambitious expansion plans. Within a mere three years since its inception, OYO Rooms has emerged as one of India's largest hotel chains, boasting approximately from 300+ cities, 10,000+ Hotels, and 200,000+ Rooms to over 500 cities encompassing 28 states and 9 UTs with 18000+ hotels and 270,000+ rooms in India.

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India Hotels Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 29.40  Mn.
Forecast Period 2023 to 2029 CAGR: 9.7% Market Size in 2029: US $ 56.21 Mn.
Segments Covered: by Location City centre Motels Suburban hotels Resort hotels Boatels
by Size of Property Small hotel Medium-sized hotel Large hotel Mega hotel Chain hotels
by Level of Service Economy hotels Mid-Scale hotels Luxury hotels
by Theme Heritage hotel Ecotels Boutique hotels Spas
by Distribution Channel Online Offline

India Hotels Market by Region

NORTHERN REGION NORTH-EASTERN REGION EASTERN REGION CENTRAL REGION WESTERN REGION SOUTHERN REGION

India Hotels Market Key Players:

1. OYO(Gurugram, Haryana) 2. Lemon Tree Hotel(Delhi) 3. Treebo(Karnataka) 4. Hyatt Hotels Corporation(Chicago Chicago) 5. InterContinental Hotel Groups(United Kingdom) 6. Marriott International(United States) 7. Radisson Blue Hotels(Belgium) 8. Shangri La Hotels & Resorts(Hong Kong) 9. Taj Hotels Resorts & Places(Maharashtra) 10. The Lalit Hotels(New Delhi) 11. The Leela Palace(Maharashtra) 12. The Oberoi Group(Delhi) 13. The Park Hotels(West Bengal) 14. Bharat Hotels Limited(New Delhi) 15. Hotel Leelaventure Limited(Maharashtra) 16. ITC Hotels Limited(West Bengal) 17. The Indian Hotels Company Limited(Maharashtra) 18. Sarovar Hotels Private Limited(Maharashtra) 19. Marriott Hotels India Private Limited(United States.)

Frequently Asked Questions:

1] What segments are covered in the India Hotels Market report? Ans. The segments covered in the India Hotels Market report are Location, Size of Property, Level of Service, Theme, Distribution Channel, and Region. 2] Which region is expected to hold the highest share of the India Hotels Market? Ans. The New Delhi region is expected to hold the highest share of the Indian Hotels Market. 3] What is the market size of the India Hotels Market by 2029? Ans. The market size of the India Hotels Market by 2029 is expected to reach US$ 56.21Mn. 4] What is the forecast period for the India Hotels Market? Ans. The forecast period for the India Hotels Market is 2022-2029. 5] What was the market size of the India Hotels Market in 2022? Ans. The market size of the India Hotels Market in 2022 was valued at US$ 29.40 Mn.
1. India Hotels Market: Research Methodology 2. India Hotels Market: Executive Summary 3. India Hotels Market: Competitive Landscape 3.1. MMR Competition Matrix 3.2. Competitive Landscape 3.3. Key Players Benchmarking 3.4. Market Structure 3.4.1. Market Leaders 3.4.2. Market Followers 3.4.3. Emerging Players 3.5. Consolidation of the Market 4. India Hotels Market: Dynamics 4.1. Market Trends by Country 4.1.1. India 4.2. Market Drivers by Country 4.2.1. India 4.3. Market Restraints 4.4. Market Opportunities 4.5. Market Challenges 4.6. PORTER’s Five Forces Analysis 4.7. PESTLE Analysis 4.8. Value Chain Analysis 4.9. Regulatory Landscape by Country 4.9.1. India 5. India Hotels Market Size and Forecast by Segments (by Value USD and Volume Units) 5.1. India Hotels Market Size and Forecast, by Location (2022-2029) 5.1.1. City center 5.1.2. Motels 5.1.3. Suburban hotels 5.1.4. Resort hotels 5.1.5. Boatels 5.2. India Hotels Market Size and Forecast, by Size of Property (2022-2029) 5.2.1. Small hotel 5.2.2. Medium-sized hotel 5.2.3. Large hotel 5.2.4. Mega hotel 5.2.5. Chain hotels 5.3. India Hotels Market Size and Forecast, by Level of Service (2022-2029) 5.3.1. Economy hotels 5.3.2. Mid-Scale hotels 5.3.3. Luxury hotels 5.4. India Hotels Market Size and Forecast, by Theme (2022-2029) 5.4.1. Heritage Hotel 5.4.2. Ecotels 5.4.3. Boutique hotels 5.4.4. Spas 5.5. India Hotels Market Size and Forecast, by Distribution Channel (2022-2029) 5.5.1. Online 5.5.2. Offline 5.6. India Hotels Market Size and Forecast, by States(2022-2029) 5.6.1. Uttar Pradesh 5.6.2. Maharashtra 5.6.3. Gujarat 5.6.4. Delhi 5.6.5. Karnataka 5.6.6. Bihar 5.6.7. Tamil Nadu 5.6.8. Rest of India 6. Company Profile: Key players 6.1. OYO(Gurugram, Haryana) 6.1.1. Company Overview 6.1.2. Financial Overview 6.1.3. Business Portfolio 6.1.4. SWOT Analysis 6.1.5. Business Strategy 6.1.6. Recent Developments 6.2. Lemon Tree Hotel(Delhi) 6.3. Treebo(Karnataka) 6.4. Hyatt Hotels Corporation(Chicago Chicago) 6.5. InterContinental Hotel Groups(United Kingdom) 6.6. Marriott International(United States) 6.7. Radisson Blue Hotels(Belgium) 6.8. Shangri La Hotels & Resorts(Hong Kong) 6.9. Taj Hotels Resorts & Places(Maharashtra) 6.10. The Lalit Hotels(New Delhi) 6.11. The Leela Palace(Maharashtra) 6.12. The Oberoi Group(Delhi) 6.13. The Park Hotels(West Bengal) 6.14. Bharat Hotels Limited(New Delhi) 6.15. Hotel Leelaventure Limited(Maharashtra) 6.16. ITC Hotels Limited(West Bengal) 6.17. The Indian Hotels Company Limited(Maharashtra) 6.18. Sarovar Hotels Private Limited(Maharashtra) 6.19. Marriott Hotels India Private Limited(United States.) 7. Key Findings 8. Industry Recommendation
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