- ABOUT NIPS
The constant transformation has made the Indian hotel industry more functional and practical and has gained a level of acceptance world over. The standards of facilities and services offered have evolved over the last decade towards the extensive use of technology, environment friendly services, pricing, market segmentation, regional preferences, etc. The Indian hotel industry has seen a significant growth in room inventory across categories from upscale luxury to limited services and, boutique and budget hotels. The occupancy and the room rates have seen continued gains both from the domestic and the international traveller in both the business and leisure segment.
According to World Travel & Tourism Council, by 2020, travel and tourism investment is estimated to should reach US$ 109.3 billion or 7.7 per cent of total investment.
Federation of Hotel and Restaurant Associations of India states that India currently has over 200,000 hotel rooms spread across hotel categories and guest-houses and is still facing a shortfall of over 100,000 rooms. Leading hotel brands have pepped up their investments and are in various stages of commencement of new proprieties in India, both in metro and non- metro cities.
The Indian hotel industry is seeing huge spurt of foreign investment and international brands entering the foray. Most major international hotel brands such as Starwood, Hilton, Marriott, Hyatt and Accor already have a growing presence in India and they have an even stronger pipeline. Marriott International operates 11 properties across the country and plans to expand its network to 100 hotels over the next five-years. ITC Hotels also have projected its plan to open 25 new hotels under the Fortune brand over the course of next 12-18 months. The emergence of branded budget and economy segment hotels present tremendous opportunities. Keys Hotels, a brand of Berggruen Hotels, is setting up a leading chain of mid market hotels, resorts and service apartments across India and plans to open and manage 40 hotels over the next five years. So does, Ginger Hotel also plans to open 60 to 70 budget hotels in 23 locations across the country.