Indian Hotel Industry
Introduction
In India, the hotel industry has monitored enormous boom in current years. The industry is linked with the tourism industry and the growth of hotel industry was fuelled by the tourism industry. It’s been seen that the industry offers luxury and comfort service to increase the foreign exchange of the economy. Early in 1980’s, the hotel industry in India was a budding industry consisting of single hotel companies. Increase in demand for hotels was high in late 1990’s. The increase in business opportunities and flourished economy has boosted the level of growth in hotel industry. According to a report, the Indian hotel industry has a current supply of 110,000 rooms and a scarcity of 150,000 rooms. According to ballpark figure, demand will go above supply by 100% within the next 2 years. The hotel industry in India is going to look rosy in the future. For the next few years, it is seen that the mid-market and budget hotel are going to observe massive growth and development while the segment of luxury will continue to carry out well.
The year 2008-09 was one terrible year for Indian tourism because of the terror attack; the hotel industry was affected drastically. The industry experienced a downfall in occupancy and revenue in major cities
List of players in the industry
* Taj group * Inter-continental * Le meridien group of hotels * Oberoi group of hotels * The park group of hotels * Welcome heritage group of hotels * ITC welcome group of hotels
Industry Structure
Hotels in India are broadly classified into 7 categories (Five star deluxe, Five star, Four star, Three Star, Two Star, One star and Heritage Hotels)
Premium Luxury Segment
This segment comprises the high-end Five Star deluxe and Five Star hotels, which mainly provide to the business and upmarket foreign leisure travellers and present a class quality and range of services
Mid Market Segment
This segment includes 3 and 4 star hotels which
In India, the hotel industry has monitored enormous boom in current years. The industry is linked with the tourism industry and the growth of hotel industry was fuelled by the tourism industry. It’s been seen that the industry offers luxury and comfort service to increase the foreign exchange of the economy. Early in 1980’s, the hotel industry in India was a budding industry consisting of single hotel companies. Increase in demand for hotels was high in late 1990’s. The increase in business opportunities and flourished economy has boosted the level of growth in hotel industry. According to a report, the Indian hotel industry has a current supply of 110,000 rooms and a scarcity of 150,000 rooms. According to ballpark figure, demand will go above supply by 100% within the next 2 years. The hotel industry in India is going to look rosy in the future. For the next few years, it is seen that the mid-market and budget hotel are going to observe massive growth and development while the segment of luxury will continue to carry out well.
The year 2008-09 was one terrible year for Indian tourism because of the terror attack; the hotel industry was affected drastically. The industry experienced a downfall in occupancy and revenue in major cities
List of players in the industry
* Taj group * Inter-continental * Le meridien group of hotels * Oberoi group of hotels * The park group of hotels * Welcome heritage group of hotels * ITC welcome group of hotels
Industry Structure
Hotels in India are broadly classified into 7 categories (Five star deluxe, Five star, Four star, Three Star, Two Star, One star and Heritage Hotels)
Premium Luxury Segment
This segment comprises the high-end Five Star deluxe and Five Star hotels, which mainly provide to the business and upmarket foreign leisure travellers and present a class quality and range of services
Mid Market Segment
This segment includes 3 and 4 star hotels which
Bibliography: * http://www.indialawoffices.com/pdf/indianhotelindustry.pdf * http://business.mapsofindia.com/india-industry/hotel-industry-in-india.html * http://www.scribd.com/doc/26045770/indian-hotel-industry-analysis * http://www.madaan.com/sectors.html