India Hotels Market Poised for Robust Growth Through 2030

The India Hotels Market, valued at USD 32.10 billion in 2023, is projected to reach nearly USD 59.44 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 9.4% during the forecast period.

Key Drivers of Market Expansion

Several factors are contributing to this anticipated growth:

1. Economic Factors: The increasing purchasing power of domestic travelers and the expansion of the airline industry are encouraging more travel within the country.

2. Government Initiatives: Relaxed visa restrictions and the reduction of the Goods and Services Tax (GST) rates—from 28% to 18% for luxury hotels and from 18% to 12% for midscale hotels—are making travel and accommodation more accessible and affordable.

3. Technological Advancements: The adoption of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and data analytics by leading hotel companies is enhancing guest experiences and operational efficiency.

Grab your free sample copy of this report today: https://www.maximizemarketresearch.com/request-sample/52799/ 

Regional Insights

New Delhi is expected to lead the India Hotels Market during the forecast period, reflecting its status as a major business and tourist hub.

Challenges

Despite the positive outlook, the industry faces challenges, including:

• Room Supply Shortage: A limited supply of hotel rooms may constrain growth and affect occupancy rates.

• Labor Costs and Retention: High labor costs and challenges in retaining skilled employees due to low switching costs pose operational difficulties.

To access the full scope of this research, check the following page: https://www.maximizemarketresearch.com/inquiry-before-buying/52799/ 

India Hotels Market Segmentation Analysis:

by Type of Hotel

Luxury Hotels
Economy Hotels
Resorts
Midscale and Upscale Hotels
Others

by Ownership Model

Chain Hotels
Independent Hotels

According to type, chain-type hotels dominate the Indian hospitality industry, holding a significant 40% market share in terms of both revenue and property numbers, which translates into a market value for Indian hotels. With more than 20–25 chain hotels that cater to both luxury and low-cost markets, they have influenced the sector by offering consistent services, a recognisable brand, and dependability to visitors. The expansion of this industry is driven by well-known global chains including Marriott International, Hilton Worldwide, IHG, AccorHotels, and Radisson Hotel Group. Their growth, especially into Tier-2, Tier-3, and emerging countries, has been driven by elements like growing tourism, rising incomes, and shifting customer preferences. Chain hotels play an important role in India's hospitality market by meeting the needs of a wide range of tourists and producing significant profits for the sector.

For a complete look at the findings, visit the link below: https://www.maximizemarketresearch.com/request-sample/52799/ 

Major Players in India Hotels Market:

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)

To explore this subject matter further, please click on the link provided: https://www.maximizemarketresearch.com/market-report/india-hotels-market/52799/ 

Discover What's Trending:

hair color market https://www.maximizemarketresearch.com/market-report/global-hair-color-market/68529/ 

Wedding Services Market https://www.maximizemarketresearch.com/market-report/wedding-services-market/229647/ 

Connect with us:

MAXIMIZE MARKET RESEARCH PVT. LTD.
3rd Floor, Navale IT park Phase 2,
Pune Banglore Highway, Narhe
Pune, Maharashtra 411041, India.
+91 9607365656
sales@maximizemarketresearch.com