Hotel Market Study Report (2020-2024) Hotel Leelaventure Limited, ITC Hotels Limited, Lemon Tree Hotels Limited, The Indian Hotels Company Limited

A new report by Reports titled, Global Hotel Market has been released with trustworthy information and accurate forecasts for a better understanding of the present market scenario. The report offers an in-depth analysis of the global market, including qualitative insights, historical data, and verifiable projections about the market size and share.

the tourism industry plays a significant role in generating employment and earning revenue from foreign exchange. The hospitality sector, being a part of the travel and tourism industry, is greatly affected by the expansion of the industry. The government has taken several steps to make India a global hub for tourists to boost the Indian hospitality industry.

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This part of the report includes detailed information of the market in different regions. Each region offers different scope to the market as each region has different government policy and other factors. The regions included in the report are North America, South America, Europe, Asia Pacific, and the Middle East.

Top leading companies of the global market are:

o Bharat Hotels Limited
o Hotel Leelaventure Limited
o ITC Hotels Limited
o Lemon Tree Hotels Limited
o The Indian Hotels Company Limited
o Sarovar Hotels Private Limited
o The Park Hotels
o Hyatt Hotels and Resorts
o Marriott Hotels India Private Limited
o Radisson Hotels Asia Private Company
Market insights:

India accounts for the highest number of domestic leisure travellers in the world. Business travellers are gradually increasing in number, owing to the rapid growth of the IT sector in India and the emergence of several global companies. The KPIs used by the industry to measure business development and management of hotels are average room rate (ARR) and revenue per available room (RevPAR). ARR of the hotel industry in India stood at INR 5,844.81 in FY 2019 as against INR 5,527 in FY 2016, and is expected to reach INR 6,707.46 by FY 2024, expanding at a compound annual growth rate (CAGR) of ~3.16% during the FY 2020-FY 2024 period. RevPAR of Indian hotels stood at ~INR 4,002.76 in FY 2019 and is expected to reach

INR 5,305.91 by FY 2024. After the onset of FY 2020, the Indian hotel industry is anticipated to expand at a promising rate, since India will be hosting the ICC Men's World Cup in 2023, which would increase the foreign tourist footfall in the country. Difficulties in talent management act as a significant challenge for the hotel industry. Insufficient supply of quality workforce and increased competition for skilled employees from competing service sectors like aviation have raised the attrition rate in the industry.

Segmentation insights:

Based on type, the hotel industry in India can be segmented into independent/unbranded hotels, alternate accommodations, new-age hotel chain, and branded/traditional chain. The independent/unbranded segment comprises more than ~70% of the total available hotel rooms. Alternate accommodation is the second-largest segment, owing to the growing popularity of homestays among tourists. The new-age hotel chain is expected to witness the most promising growth during the forecast period, from ~7.36% in FY 2018 to ~14.80% in FY 2024. Moreover, the branded/traditional hotel segment, which dominates the organized sector, accounts for about 5% of the overall hotel industry, in terms of room supply.

Based on the city-wise supply of rooms, tier I cities like New Delhi and Mumbai reported the highest number of rooms, followed by Bengaluru and Chennai, and together they account for ~30% of the total market share in the country. About 27% of the industry is dominated by smaller cities where the market is mostly unorganized and is primarily dominated by independent/unbranded hotels.

Government initiatives:

The hotel industry in India is highly dependent on the tourism sector for business, and hence, government initiatives, by enhancing tourism, play a crucial role in aiding the expansion of the industry. The Ministry of Tourism, along with the Ministry of Civil Aviation and The Ministry of Railways, promotes tourism in the country.

Schemes like SWADESH DARSHAN (Integrated Development of Tourist Circuits around Specific Themes), PRASHAD (National Mission on Pilgrimage Rejuvenation and Spiritual, Heritage Augmentation Drive) and the promotion of E-Visa has been taken up by the Ministry of Tourism to increase the tourist inflow in the country.

Vision 2040, UDAN - Ude Desh ka Aam Nagrik and NABH Nirman are a few initiatives taken by the Ministry of Civil Aviation to boost air connectivity, which would increase hotel guests in even the remote corners of the country.

As domestic travelers constitute the largest guest share of the hotel industry, the Ministry of Railways is improving rail infrastructure throughout the country to ease traveling for domestic trips.

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Key Highlights points of Hotel Market:

1) Competitive study of the major Hotel market players will help in analyzing the market driving and business strategies.

2) Analysis of necessary trends impacting to build-up of the market.

3) The deep research study of market based on development opportunities, growth limiting factors and feasibility of investment will forecast the market growth.

4) Analysis of trending factors will be influencing the Market shares in next few years.

5) Establish business expansion plans by referring to substantial growth and projection of emerging markets.

6) The report elaborates on the product sales, revenue accumulated, price patterns, and gross margins.

Furthermore, the study provides a comprehensive overview of regional distribution and the overview of product types in the market. It explains how key companies and mid-level manufacturers are making a profit within the Hotel industry. In short, the report on Hotel is an esteemed source for both the individuals as well as the businesses as it provides detailed SWOT analysis and new project investments feasibility study.

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