Introduction
Hotel industry in India there is a huge boom in recent years, is experiencing an interesting stage. One of the main reasons for the increase in demand for hotel rooms in the country’s boom in the overall economy and high growth industries as information technology, telecommunications, retail and real estate. The growth of stock markets and new business opportunities are also attracting hordes of foreign investors and international corporate travelers to search for business opportunities in the country, in particular the growth in the tourism sector. The hotel industry is inextricably linked to the tourism industry and the growth in Indian tourism industry has caused the growth of Indian hotel industry.
The explosive growth in India ignites unquenchable demand for hotel rooms. With huge investments flowing into India for the development of infrastructure such as roads, highways, airports and points of the Convention, the interest in hotel developments defeat new highs as tourism, business travel and are on the rise.
The boom of tourism is a cascade effect on the hospitality sector with an increase in occupancy and ratio of medium-sized bet. And with the continuing surge in demand, many global hospitality professions have confirmed an interest in the Indian hospitality sector. It is estimated that in India, probably around 40 international hotel brands by 2011.
Features
In the spurt in India’s tourism growth has had a ripple effect on the hospitality sector. The growth in income and purchasing power coupled with the governments open sky policy have provided a major focus. The industry is growing very rapidly, and there is a demand for more rooms in the metro and small towns. It is estimated that in India, probably around 40 international hotel brands by 2011.
India booming hospitality industry has transformed into a real basket of the choicest of rooms, food and beverage, health, and business sites, travel packages, and all you can think of. New global entrants are competing with existing local players to provide world class services at prices suited to every pocket.
An estimated 4.4 million tourists expected to visit India with an average annual growth rate of 12% over the next few years. Domestic tourism market is also flourishing. Commonwealth Games in 2010 will add to the demand for quality housing.
The Government of India’s Incredible India destination campaign and Atithi Devo Bhavah campaign also contributed to the growth of domestic and international tourism and consequently the hotel industry.
The opening of the aviation industry in India exciting opportunities for the hotel industry, as it relies on airlines to transport 80% of international arrivals. The decision of the Government to upgrade 28 regional airports in smaller cities and the privatization and expansion of Delhi and Mumbai airport will improve the business prospects of hotel industry in India. And upgrading of national highways connecting various parts of India has opened up new opportunities for the development of budget hotels in India. Taking advantage of this opportunity Tata group and another hotel chain called “Homotel ‘have entered this business segment.