Why One Hotel Exec Predicts a Boom for the Hospitality Industry in India
It is predicted that the next four years are going to be very good ones for the hospitality industry in India
Arif Patel—who is the vice president of sales, marketing, distribution and loyalty for AccorHotels—recently predicted that the next four years are going to be very good ones for the hospitality industry in India, detailing his thoughts about momentum for those working in the space has remained strong.
In an interview with reporters, Patel pointed specifically to factors for the country such as big data trends, e-visa, domestic aviation growth, and how hotels there have reached their highest levels of occupancy rates in the past decade, with 68 percent and rising being common across the international hospitality industry. He said data shows that during the last calendar year and into the first quarter of 2018, occupancy rates are even higher than that, trending at 70 percent or above.
This represents significant growth for all of the hospitality industry in India, as previous average occupancy rates were at an average low of between 55 and 58 percent for years.
Increases in Other Metrics
Patel went on in a recent interview to say that he has also seen rises in other metrics as well for India, specifically in the growth of searches for travel-related information about interest in travel, citing a large bump in several platforms, including a 53 percent search growth via Google.
"If we look at the last summer data, there was a 40 per cent growth in gross booking," Patel was quoted as saying. "There is also an increase of 15 per cent to 20 per cent in staycation when you look at long weekends."
One possible causation for this is that large family travel would seem to have undergone a substantial increase, growing by nearly 15 percent. Europe seems to have bounced back after two years of what experts would consider to be lows, with increases happening in demand for travel experiences from both France and the United Kingdom. As is perhaps not the least bit unusual, the United Kingdom continues to be Europe's top travel destination for sending visitors to India. However, some other countries have made inroads too, with guests coming from both Dubai and Mauritius for summer vacations.
Mobility is Key
One point that Patel makes multiple times is that the increased availability of airline travel—particularly in new routes domestically—is, perhaps quite obviously, driving tourists to travel more.
His own company, AccorHotels, is certainly seeing this and anticipating rising demands for its hotel rooms. Patel said they operate 48 hotels and almost 9,000 rooms, and that they are looking to increase that number to 80 branded hotels in India by the year 2020, working to bring Raffles and Banyan Tree to India, too.
Let's take a look at a few other projects currently underway in India:
The planned hotel is part of a 100-acre township development in Manikonda called Lanco Hills, about two miles from Gachibowli and HITEC city. …[READ MORE]
Four Seasons Hotel Noida at Delhi One
Four Seasons has entered North India with tie-up with realty firm, The 3C Company, for their mixed-use project 'Delhi One' at Noida. …[READ MORE]
Luxurious guestrooms include suites and villas, All rooms and public spaces feature views of serene backwaters, the cityscape or lush, landscaped gardens …[READ MORE]
More information on India hotel projects can be found in the TOPHOTELPROJECTS database.
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