India's first post-COVID budget failed to provide any direct and immediate support to the Indian hospitality sector. However, the massive fillip given to other allied sectors such as healthcare and infrastructure will indirectly help boost the tourism and hospitality sector’s growth in the long-term.
This report provides a comparison of hotel room supply and demand generators for 10 key Asian cities across 6 Countries.
As the Indian hospitality sector embarks on the path to recovery, hoteliers need to test waters in the branded residences segment, which is still a niche concept in India.
This article provides a summary of the Indian hotels sector's performance in 2020.
The Indian wellness tourism segment has high-growth potential as an increasing number of people are adopting a healthier lifestyle and seeking personalized travel experiences in the post-COVID era. Read on to know more.
This article highlights some of the key trends that we expect to see in the Indian hospitality sector in 2021.
2020 has been an unprecedented year with significant disruptions for the Indian hotels sector. The crisis compelled hotels to think unconventionally. As occupancy and RevPAR reached an all-time low, hotels were forced to implement cost optimization techniques and find innovative ways to utilize their assets. The onset of the festive season brought some much-needed cheer towards the end of the year, as people started travelling again, indicating the first signs of a gradual recovery in the sector
The growth of the Indian hospitality sector, a key contributor to GDP and employment, will fuel the economy in the post-COVID world, making a compelling case for the sector being granted infrastructure status – a long-pending request by key stakeholders – and the next frontier in the sector’s growth path.
Hotels need to come together and align themselves to the common goal of reviving the growth in the industry. They should think ‘long-term’ by promoting value-added services, targeting new customer segments or markets, and implementing cost optimization strategies instead of indulging in price wars, which can be detrimental for the growth of the sector. Brands can also play a crucial role in this by pushing the envelope on driving better revenue and rate management strategies.
In the last few weeks, demand for domestic leisure tourism has improved in India, which is a silver lining for the distressed and vulnerable Indian hotels sector. However, sudden changes in regulations are adding to the sector’s woes and may dampen the spirits going forward.