India Hotel Market size was valued at USD 38.42 Bn in 2023 and the total the Hotel revenue is expected to grow at a CAGR of 9.42% from 2024 to 2030, reaching nearly USD 72.15 Bn by 2030.
India Hotel Market Overview
The India hotel market is poised for significant growth, driven by a combination of increasing domestic and international tourism, urbanization, and a burgeoning middle class. As one of the fastest-growing travel destinations in the world, India is witnessing a surge in both leisure and business travel, leading to a heightened demand for diverse accommodation options.
The market is characterized by a broad spectrum of hotel categories, ranging from luxury and premium hotels to budget and mid-scale segments, catering to various traveler preferences. The rise of online travel agencies (OTAs) and digital platforms has transformed how consumers book accommodations, enhancing accessibility and visibility for hotel operators.
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Market Forecast and Key Dynamics:
Rising Domestic and International Tourism: The resurgence of travel post-pandemic is anticipated to fuel demand for hotel accommodations. With the government promoting tourism through initiatives like the “Incredible India” campaign, both domestic and international tourist arrivals are projected to increase significantly, supporting market growth.
Increasing Disposable Income and Urbanization: The expanding middle class and rising disposable incomes are encouraging more people to travel for leisure and business purposes. Urbanization is leading to increased business activities in metropolitan areas, driving demand for hotels catering to both corporate and leisure travelers.
India Hotel Market Regional Insights
North India: This region, particularly cities like Delhi, Agra, and Jaipur, attracts a significant number of domestic and international tourists due to historical and cultural sites. The luxury segment thrives here, with many international hotel chains establishing a presence. Additionally, the rise in MICE (Meetings, Incentives, Conferences, and Exhibitions) tourism is boosting demand for business hotels in metropolitan areas.
West India: States like Maharashtra and Gujarat are key players in the hotel market, driven by business travel and tourism. Mumbai, as a financial hub, sees a high demand for upscale accommodations catering to corporate clients. Goa remains a popular leisure destination, attracting tourists seeking beach vacations and resorts, thus promoting growth in the hospitality sector.
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India Hotel Market Segmentation
By Type
Chain Hotels
Independent Hotels
By Level of Services
Service Apartments
Budget and Economy Hotels
Mid and Upper Mid-Scale Hotels
Luxury Hotels
Regional Scope
By Region
North India
South India
East India
West India
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India Hotel Market Key Players
OYO (Gurugram, Haryana)
Lemon Tree Hotel (Delhi)
Treebo (Karnataka)
Hyatt Hotels Corporation (Chicago Chicago)
InterContinental Hotel Groups (United Kingdom)
Marriott International (United States)
Radisson Blue Hotels (Belgium)
Shangri La Hotels & Resorts (Hong Kong)
Taj Hotels Resorts & Places (Maharashtra)
The Lalit Hotels (New Delhi)
The Leela Palace (Maharashtra)
The Oberoi Group (Delhi)
The Park Hotels (West Bengal)
Bharat Hotels Limited (New Delhi)
Hotel Leelaventure Limited (Maharashtra)
ITC Hotels Limited (West Bengal)
The Indian Hotels Company Limited (Maharashtra)
Sarovar Hotels Private Limited (Maharashtra).
Key questions answered in the India Hotel Market are:
- What is India Hotel?
- What was the India Hotel market size in 2021?
- What is the growth rate of the India Hotel Market?
- Which are the factors expected to drive the India Hotel market growth?
- What are the different segments of the India Hotel Market?
- What growth strategies are the players considering to increase their presence in India Hotel?
- What are the upcoming industry applications and trends for the India Hotel Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the India Hotel Market?
- What segments are covered in the India Hotel Market?
- Who are the leading companies and what are their portfolios in India Hotel Market?
- What segments are covered in the India Hotel Market?
- Who are the key players in the India Hotel market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by Different Segment | 2022-2027
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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