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Albany, NY -- (SBWIRE) -- 12/24/2014 -- Global market intelligence firm, Netscribes, Inc. released its latest report on the Hotel Industry in India 2014. With Indian tourism and hospitality emerging as a chief growth driver for services industry in India, hotel sector is only poised for further growth. Though economic slowdown has resulted in low occupancy and average room rates for hotels across certain major cities in the country, Indian hotel sector is still expected to show healthy prospects compared to global hotel growth. At a time when global hospitality conditions are still nearing saturation, Indian hospitality sector is being considered as a viable proposition for players.
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Netscribes latest market research report titled Hotel Industry in India 2014 states that the increasing tourist footfall both domestic as well as foreign has been instrumental in bolstering growth of hotels across the country. Rising number of tourists is also aided with the ever increasing disposable income at the hands of common people who indulge in short trips throughout the year. Factors like medical tourism and government support augur well for the sectors growth. Another recent phenomenon witnessed in the country is the upsurge of corporate events especially for companies and business travelers which again lead to the rise in demand for hotel rooms. Further, the sector has also witnessed rise in foreign investments especially for setting up new hotels which reason out why the sector is being looked at as one of profound growth for years to come.
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International Hotel Industry - June 2013
The four major BRIC countries (Brazil, Russia, India and China) continue to be targeted for hotel chain expansion, but the Chinese market is beginning to look saturated, especially in the upscale to luxury sector. India and Brazil have substantial growth potential and Russia has the biggest development pipeline in Europe.
Global Hotel Industry Survey 2013: Emerging Trends in Technology, Sustainability, Health and Wellness Tourism
Global Hotel Industry Survey 2013: Emerging Trends in Technology, Sustainability, Health and Wellness Tourism is the result of an extensive survey drawn from Timetrics exclusive panel of respondents from leading hotel industry companies. The report includes both buyer and supplier respondent opinions towards changes in RevPAR and occupancy rates within the industry in 2013, providing insights into key growth drivers. The report provides an overview of how hotels with selected investment in new technologies gain a competitive advantage.
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