Thursday, April 5, 2018
The tourism sector of India is growing, ushering with it an increased demand for hotels that gratify the holidaymakers. On this context, hotel groups are grabbing this opportunity to expand across some of the biggest cities of the country.
In India, 2017 was the most active year in terms of hotel openings and more than half of the new supply came in the mid-market segment. In the 10 biggest cities in the country, the number of rooms in last year reached over 28,800, up from around 22,000 in 2013.
Big brands that have extended are like Country Inn & Suites, Royal Orchid, Sarovar Portico, Welcome Heritage, and Lemon Tree Hotels.
The rush of visitors has been supported by a boost in tourism numbers, particularly from international travelers. By 2020, the number of overseas tourists is anticipated to grow to 20 million, doubling from around 10 million in 2017.
“Strong tourist movement has resulted in demand for quality hospitality at reasonable rates. This has added to the mid-scale property boom,” says Mandeep Lamba, Managing Director – Hotels and Hospitality, JLL India.
In countries all over the world, tourism has become a major business and has immensely increased in recent years following a drop at the time of the global financial crisis. Hotel operators have responded. Golden Tulip, Mercure Hotel, Keys Hotel, Regenta Inn and Fortune Park are among different brands that have been adding to the supply of rooms in India.
The expansion is not without concerns. Though hotel occupancy has grown over the past few years, it’s been at a slower pace. Occupancy levels sat at 69 percent last year.
Tags: Indian Tourism, Mid-market hotels
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