TOP STORY India’s hotel industry expected to grow by 13 per cent LATEST NEWS FEATURES VIDEOS Editor's comment 17/07/2019
• India is emerging as a new powerhouse in the hospitality sector. While it is has long been a wish list destination for overseas travellers, with a handful of excellent high end local, mainly independent, operators meeting this demand, the country's burgeoning middle class and its desire to travel is seeing the Indian hotel market grow rapidly.
As a recent report points out, it is set to grow by 13 per cent per year until 2023 - no surprise when in addition to the swelling ranks of domestic travellers, overseas visits were up 7.5 per cent in 2018 to around 11 million. The Indian government has allowed 100 per cent foreign direct investment (FDI) in tourism construction projects, which is acting as a catalyst for further hotel development.
One of the most startling consequences of this vibrant market has been the meteoric growth of OYO Hotels & Rooms, founded in 2013 and now the world's third largest hospitality company with a portfolio of 850,000 rooms across nearly 23,000 hotels in more than 800 cities worldwide.
Add to this, charismatic hospitality entrepreneurs such as the Park Hotels' Priya Paul and Analjit Singh of the Leeu Collection, and the conditions for further exciting growth look set to continue for many years.
George Sell, editor
Katie Houghton
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