Based on industry reports, the hospitality industry in India keeps growing at a rate of 15 per cent annually. More and more companies in India are investing in the sector to fill out the gap between supplies (61,000 rooms) and demand (100,000 rooms).
International hotel chains such as for example Hyatt, Radisson, Meridian and Marriot are expanding their chains in the united kingdom by tying up with companies in India. World hotels will be signing a package for a resort at Aamby Valley in Maharashtra along with opening business hotels in New Delhi and Chennai to enter the hospitality industry. InterContinental Hotels Group (IHG) has tangled up with Holiday Inn Express, a mid-market hotel brand, and its first property is expected to open in Noida in 2012. Lebua Hotels & Resorts, a Thailand-headquartered luxury hospitality chain is planning to enter India as well. Lebua has hotels in Bangkok and New Zealand.
In line with the World Travel and Tourism Council (WTTC) 2011 report, India is expected to attract 6,179,000 international tourist (overnight visitor) arrivals in 2011, generating US$ 15.05 billion (INR678.6bn) in visitor exports (foreign visitor spending, including spending on transportation). The direct contribution of Travel & Tourism to GDP is expected to be US$ 34.8 billion (INR1,570.5bn) in 2011 which can be about 1.9 per cent of the country's GDP. This reflects that the hospitality industry in India must gear around appeal to such high demand. Companies in India are investing their capital and industry reports predict that the capital investment in India, in the travel and tourism sector will grow at the rate of 8.8 per cent between 2010 and 2020.
Taking the cue, online travel companies too are making their entry in India to cash in the booming travel and hospitality industry. Hotels.com, an international online hotel booking portal, has plans to pay about Rs 25 crores on promotional activities. ERevMax, an on the web channel management technology provider, is rolling out an innovative product for the hotel industry. The merchandise allows fully automated inventory management and rate calculation across over 700 connected websites centered on channel performance.
Mandarin Oriental Group, which owns one of the world's most luxurious hotels, resorts and residences, will be adding 16 new properties in India next five years. Other Companies in India such as for example Small Luxury Hotels of the World (SLH), a marketing firm of luxury hotels, is looking to expand their foothold in India. Currently, SLH has 13 hotels in India and hopes to include 10 more hotels by the end of 2011. The organization also offers a web site for travel agents by which agents can book rooms for his or her clients.
The season 2010 saw the demand in Hospitality Industry pick up following a slow growth in 2009. An organization in India such as for example Reliance Industries (RIL) is entering the hospitality industry through a JV with Mumbai-based real-estate company Maker Builders. RIL plans to build two hotels in Mumbai Bandra Kurla Complex.
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