The research report on the India Luxury Hotel Market offers extensive details on the market’s size, rate of growth, revenue, trends, and potential in addition to a forecast for the years up to 2029. The major factors influencing the development of this industry have also been fully considered. The results of this study, which involved a thorough quantitative examination of the market, can be used to create policies that would encourage productivity and growth.
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India Luxury Hotel Market Overview:
The most recent drivers, restraints, and opportunities in the India Luxury Hotel Market industry are the main subjects of the in-depth corporate business research of the India Luxury Hotel Market market. The outcomes were then verified by contacting well-known businesses. The secondary inquiry and analysis of these data sources use both commercial and free data sources. Reliable data sources, official government sources, and, in the case of publicly traded companies, financial reports of the company are used to compile information on each player’s supply and consumption. Financial records may be requested by the local government’s tax division even if they aren’t typically available to the general public.
India’s luxury hotel market was valued at US$ 23.69 billion in 2020, and from 2021 to 2027, total revenue is anticipated to increase at a CAGR of 8.92%, or around US$ 46.93 billion.
COVID-19 Impact:
The analysis provides more precise and true estimations in keeping with the realities of the market by looking at the current and possible effects of the COVID-19 pandemic on the larger market. The massive spread of the coronavirus is causing distress. Social segregation laws, such as lockdowns, are present in nearly every nation. Major supply interruptions have resulted from this. Globally, social systems have changed as a result of the disease’s broad consequences. The COVID-19 has an impact on the entire market, and that impact will get stronger in 2019 and 2020 in keeping with the market’s rate of growth. The COVID-19 event has forced enterprises to manage risk and digitise operations in order to give trustworthy information and experiences to decision-makers. This is in line with the most recent MMR assessments, studies, and recommendations addressing management issues that are very important for organisations and businesses and have a significant effect on the market.
India Luxury Hotel Market Key players:
• OYO
• Lemon Tree Hotel
• Treebo
• Hyatt Hotels Corporation
• InterContinental Hotel Groups
• Marriott International
• Radisson Blue Hotels
• Shangri La Hotels & Resorts
• Taj Hotels Resorts & Places
• The Lalit Hotels
• The Leela Palace
• The Oberoi Group
• The Park Hotels
• Bharat Hotels Limited
• Hotel Leela venture Limited
• ITC Hotels Limited
• The Indian Hotels Company Limited
• Sarovar Hotels Private Limited
• Marriott Hotels India Private Limited.
Key company and market share insights:
For the public’s advantage, the top rivals are highlighted in this instance. In order to keep their market-leading positions, large companies often make important strategic decisions, such as improving their product portfolios, M&A deals, partnerships, cutting-edge product development, and international growth. The report contains the company’s objectives as well as significant financial data and original insights. Users can also get information on the companies’ global sales, revenue, and profit margins for the years 2017 through 2022.
India Luxury Hotel Market Segment:
Due to its tremendous potential and the fact that there is already a partial supply, the luxury hotel industry, which currently makes up around 11% of all quality hotels in India, has attracted developer interest once again in recent years. Local hotel chains like IHCL, Oberoi, and ITC typically dominated the country’s luxury market. However, a number of international hotel chains, including Marriott, Accor, Hilton, and Hyatt, have recently entered the luxury and ultra-luxury hotel classes in India, increasing competition in the market. As a result, luxury goods provided 11% of total brand signings by key in the year 2020, up from 9% in the previous year.
Regional Analysis:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
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