Summary:

India's hotel industry is predicted to grow rapidly, with over 1,00,000 rooms being added over the next five years, representing a 20-30% increase from 2024 levels. This growth is driven by the expanding middle-income group, rising domestic tourism, and demand-supply imbalances. The sector is expected to exceed 300,000 rooms by 2029. Major players like Ascott and Hilton are also rapidly expanding their portfolios.

Executives stated that the industry is currently experiencing one of its busiest periods, with over 200 hotels opening last year, adding 13,800 keys. Marriott International reported that 70% of its signings in India were premium properties, bringing the company closer to becoming its thirdlargest global market. Radisson Hotel Group signed 36 deals last year and over 20 this year, while Lemon Tree Hotels witnessed 50 signings and a 15-20% YoY revenue increase.

Source: IBEF

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