Hospitality industry in India recorded significant improvement in the performance levels since 2016 with major transformation in terms of nature and volume of business as well as quality and levels of service offerings. Currently, there are 128,000 branded hotel rooms across India; and by 2022, 30,000 new hotel rooms will be added to the existing inventory.
Top Seven Cities of India on account of high commercial activity accounts for 56% of total room inventory. Moreover, rapid pace of urbanisation is also creating opportunities for growth of hospitality in newer markets in Tier II & III cities - 65% of the upcoming supply at 19,500 rooms will be added in these cities. Total requirement of 32,400 additional rooms is projected in the Top Seven Cities by 2022. Only 11,000 rooms are currently under-construction; hence, there will be an additional requirement of 21,400 rooms by 2022. Budget segment is projected to record the highest requirement.
Total requirement of 32,400 additional rooms is projected in the Top Seven Cities by 2022. Only 11,000 rooms are currently under-construction; hence, there will be an additional requirement of 21,400 rooms by 2022. Budget segment is projected to record the highest requirement. _ere is new level of competition to the traditional luxury, upscale, midscale and budget hotels from Disruptors. Disruptors particularly Room Aggregators are gaining prominence in the budget segment on account of the millennials and Gen Z population - young and tech savvy travellers seeking smart travel at the best deal.
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