India is ranked 11th among attractive travel destinations in the Asia Pacific region according to World Economic Forum. The country is witnessing buoyant domestic as well as foreign tourist arrivals. Foreign tourist arrivals increased from 5.78 million to 6.97 million during 2010 to 2013 registering a growth rate of 8%.
Apart from leisure tourism, business travel to India is also on the rise owing to the robust economic growth. The rise of IT/ITES sector is seen as a key driver for increase in business travellers. India is now an established hub for medical tourism owing to world-class service at affordable costs. In order to encourage medical tourism, the Government has introduced a new category of “Medical Visa” for patients and their attendants coming to India for medical treatment.
Foreign exchange earnings from the tourism sector has reached around INR 1,100 billion in 2013, registering a growth rate of around 14% over 2012. Several International hospitality majors have entered into the Indian market through alliances with existing players or through acquisitions. Going forward, the hospitality industry is set to expand in tier II & III cities with suitable project mix to leverage opportunities.
The hospitality sector is broadly classified as hotels and restaurants and overall sector was valued at around INR 2,000 billion in 2013.
Hospitality Sector: Market break-up, 2013
South India has the leading number of approved hotels, of which around 85% are accounted by hotels in 1, 2 and 3 star categories. Around 25-27% of hotels approved in Northern and Western region are in 4 star, 5 star and 5 star deluxe categories.
Delhi-National Capital Region (Delhi-NCR), Mumbai, Bangalore, Pune, Goa, Kolkata, Hyderabad, Chennai and Jaipur are the traditional hubs for the hotel sector in India. Average room occupancy (%) across the country was estimated at around 60% in 2012-13. India is facing a shortfall of over 100,000 rooms across all hotel segments leading to a steep rise in the average room rent Around 52,000 rooms are expected to be added by 2017 across upscale, midscale and economy categories. Mumbai, National Capital region and Bangalore will witness a maximum increase in room inventory by 2017. The Indian hotels market has a significant presence of large domestic players such as TheIndian Hotels Company Ltd., ITC Welcom Group, The Leela, Oberoi Group, Lemon Tree Hotel Chain, Ashok Group of Hotels, etc. Multinational hotels with a strong presence in India include Hyatt, Carlson Group, Hilton Hotels, Mariott International Inc, Wyndham Hotels & Resorts and Intercontinental Hotel Groups. Budget hotels are popular among businessmen and domestic travelers for their affordable price and seasonal offers.
The domestic restaurant sector is growing steadily and multi-cuisine restaurants, kiosks and food joints and sprawling food courts are popular formats in urban areas. Restaurant chains are entirely in the organized sector and are slowly gaining popularity. Restaurant chains maintain similar ambience, menu, quality and standard of service across all their outlets. Popular domestic restaurant chains across formats include Bikanervala, Rajdhani, Nirula’s, MotiMahal, Barista, Mocha, Specialty Restaurants Pvt. Ltd. and BJN Group. Café Coffee Day, a café chain established by the Amalgamated Bean Company, has the highest number of outlets at around 1,650 in the restaurant sector in India . Serviced apartments, time share and beach resorts are emerging hospitality formats and currently has a small market share.
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