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Skift
21-05-2025
- Business
- Skift
Indian Hotel Industry to Reach $13 Billion by 2027: What's Driving This Growth
Domestic and inbound tourism, along with a growing MICE segment, are the Indian hotel industry's biggest bets, as demand continues to outpace supply. The Indian hotel sector is expected to cross INR 1 trillion ($11.7 billion) by the end of the current financial year and touch INR 1.1 trillion ($13 billion) by 2026-27, according to risk management and monitoring platform Rubix Data Sciences. This figure stood at INR 820 billion ($9.6 billion) at the end of the 2024 fiscal year. In its recent industry report, the firm projected that the country's hospitality sector will grow 10.5% annually till March 2027. Three key factors are expected to drive this growth: domestic travelers, foreign arrivals, and MICE (meetings, incentives, conferences, and exhibitions) segment. Rubix estimates that domestic travelers will contribute 50% of the incremental growth in revenue, while foreign tourists are projected to account for a 30% revenue share. The MICE segment is expected to account for the remaining 20% increase in revenue, the report said. 'These drivers are expected to remain sustainable over the next three years and will significantly fuel the sector's expansion,' it said. On foreign tourist arrivals (FTAs), the report said that there was a positive correlation between foreign tourists and the average daily rates (ADRs) in the premium hotel segment. 'For businesses like Chalet Hotels, which derive 35%-40% of their revenue from foreign guests, FTAs are a key driver of ADR performance. Foreign tourists, with higher spending power and a preference for luxury services, are vital contributors to the demand for premium rooms.' It added that by 2028, foreign tourist arrivals in India are expected to reach nearly 30.5 million, up from 9.6 million in 2024. However, India is still struggling with low inbound numbers exacerbated by a low global tourism promotion budget. Growing Occupancy: According to the report, the occupancy rates of hotels is expected to reach 73% by 2026-27, up from 68% in 2024 financial year and the all-time low of 35% during the pandemic. This is expected as demand is projected to continue outstripping supply. 'Demand is projected to grow at a 10.5% annual rate, while supply is expected to increase by only 8% annually. This supply-demand imbalance is likely to reduce vacancy rates and drive higher occupancy levels, as hotels face increased pressure to meet the rising demand,' it said. This higher demand is driving more hotel companies into India. In April, six international hotel brands announced deals in India within a span of four days. Singapore-based The Ascott Limited announced its expansion plans with a focus on Tier-2 and 3 cities. Its Chief Operating Officer for EMEA & South Asia, Lee Ngor Houai said that there is a 'significant under-penetration of branded hotels' in smaller cities. For Accor's chairman and CEO Sébastien Bazin, India is 'one of the world's most exciting travel markets.' India also continues to be a cornerstone of Marriott International's future growth, with the company projecting that the country will become its third-largest market. Inside Radisson's Expansion Plans, Marketing Strategy Radisson Hotel Group's portfolio in India has expanded to 200 operational and developing properties. The chain has been present in the country for 26 years. Indians relate to Radisson as an Indian brand, Nikhil Sharma, managing director and chief operating officer for South Asia at Radisson Hotel Group told Skift. 'As an international brand, we are very local and nationalistic in our approach. We continue to grow because more than 50% of our portfolio is in smaller cities.' He said that over the next 5-7 years, India could go from 185,000 branded hotel rooms to 1 million operating rooms. The company is working on a program that aims to prepare its properties across the world for Indian travelers. The program, called Welcome India, is currently in the works, he said. Competition is intensifying in India as the brands present in India are increasing their inventory and more brands are entering. He said Radisson is counting on word of mouth and loyalty to help distinguish itself among an increasingly discerning customer base. Radisson is also upping its experiential offerings for sports enthusiasts, readers, and couples looking to get married soon. Indian Railways Unveils its SuperApp The Indian Railway Catering and Tourism Corporation (IRCTC) has unveiled its new mobile application SwaRail. The app is meant to be a unified platform for all railway-related services. SwaRail allows users to check their booking status, book meals, explore facilities on stations, and access tourist services. It also provides real-time train tracking service and eliminates the need for frequent logins. Last November, a report by Accenture revealed that Indians are dissatisfied with the existing travel planning options and are seeking a travel superapp. It added that travelers feel the booking process is the most complicated stage of a journey. Indian online travel agency MakeMyTrip is eventually planning to launch a travel superapp, while Skyscanner is also preparing to launch a new marketplace within its app offering a range of additional services. U.S. Imposes Restrictions on Indian Travel Agents The U.S. on Monday said it was imposing restrictions on the owners, executives, and senior officials of India-based travel agencies for knowingly facilitating illegal immigrants to the North American nation. It added that its India Mission was working 'actively' to identify and target individuals and agencies involved in facilitating illegal immigration and human smuggling operations. 'Our immigration policy aims not only to inform foreign nationals about the dangers of illegal immigration to the United States but also to hold accountable individuals who violate our laws, including facilitators of illegal immigration,' the U.S. Mission in India said in a statement. This comes just days after the U.S. warned Indian citizens against overstaying in the country. 'If you remain in the United States beyond your authorized period of stay, you could be deported and could face a permanent ban on traveling to the United States in the future,' the India mission of the U.S. said on Saturday. Delhi Airport Operator Divests in Aviation Services Company for $1.5 Million Delhi Airport operator DIAL has sold its entire 50% stake in Delhi Aviation Services (DASPL) for INR 130 million ($1.5 million). The stake has been sold to Bird Flight Services, which already held a 25% share in the company. Delhi Aviation Services was given the concession to run the operations of bridge-mounted equipment, including ground power units, pre-conditioned air units and supply of potable water to aircraft at Terminal 3 of the Delhi Airport. However, according to a regulatory filing, the company is currently not carrying any business operations. Evoke Experiences Announces New Experiential Hotels Experiential hotels company Evoke Experiences is undertaking a strategic expansion to grow its presence in the hospitality landscape. The company said Monday that the expansion would mark a shift in its operating model, which currently focused on immersive glamping retreats and cultural tent cities. Now, the company will widen its experiential properties portfolio and will look for asset leasing and management collaborations. Currently, it operates 750 keys and plans to expand this figure to 1,000 by the end of the year. It also said that while it has a property coming up in Ayodhya, the company is preparing to launch a new site in Gujarat's Gir.
India Gazette
14-05-2025
- Business
- India Gazette
India's hospitality sector to grow at CAGR of 10.5%; Revenue to surpass Rs 1.1 trillion by 2027: Report
New Delhi [India], May 14 (ANI): The Indian hospitality industry is likely to witness a strong growth trajectory, despite renewed tensions in the subcontinent and broader geopolitical uncertainty, says a report by Rubix Data Sciences said. The report projects a robust growth for India's hospitality sector, with the market expected to surpass Rs1.1 trillion in revenue by FY2027, growing at a CAGR of 10.5 per cent. This surge is primarily attributed to the resurgence of domestic tourism, the increasing influx of Foreign Tourist Arrivals (FTAs), and the rapid expansion of the Meetings, Incentives, Conferences, and Exhibitions (MICE) segment.' FTAs, being a key driver of premium hotel performance, are projected to reach 30.5 million by 2028. 'Rubix also highlights a shift in demand drivers, with domestic travellers contributing 50 per cent of incremental revenue growth, followed by foreign tourist arrivals at 30 per cent and the MICE segment at 20 per cent.' India's hospitality sector witnessed a remarkable recovery from the pandemic's impact, with occupancy rates rebounding from a low of 35 per cent to 68 per cent in FY2024. Branded and organized hotels have particularly excelled, achieving decade-high figures with an Average Daily Rate (ADR) of Rs7,500 and a Revenue Per Available Room (RevPAR) of Rs5,439. The western part of India saw the highest RevPAR and maximum occupancy rate of 69.5 per cent. While destinations like Rishikesh, Udaipur, and Varanasi are emerging as high-yield markets. 'India's hospitality sector is no longer metro-centric; it is thriving in new routes driven by local demand, spiritual tourism, and mid-range experiences. With the industry set to cross $1 trillion by FY2027, the size of the opportunity is huge, but so is the need for risk-aware growth,' said Mohan Ramaswamy, CEO and Co-Founder, Rubix Data Sciences. 'Supported by strong infrastructure spending, state-level tourism pushes, and digital-first travel behavior, India's hospitality industry is entering a structurally stronger phase,' the report added. (ANI)
Zawya
24-03-2025
- Business
- Zawya
India's solar sector grows stronger with 60 GW domestic manufacturing: Rubix Data Sciences
New Delhi : India's solar capacity, over the past decade, has grown at an impressive 38 per cent compound annual growth rate (CAGR), now accounting for over 60 per cent of the country's total renewable energy portfolio, the Rubix Data Sciences said in a report. In FY2024 alone, India added a record 24.5 GW of solar capacity, more than double the previous year's installations. The report also highlights a shift toward self-reliance, with solar module imports from China declining from over 90 per cent in FY2022 to 65 percent in FY2024, while exports surged 23-fold, while exports surged 23-fold touching nearly USD 2 billion in FY2024. These developments underscore India's growing influence in the global renewable energy sector, the report added. India's solar sector is expanding rapidly, having surpassed the 100 GW installed capacity milestone - an achievement that places it among the world's top solar energy producers. Commenting on the findings, Mohan Ramaswamy, Co-Founder and CEO of Rubix Data Sciences, said, "India's progress in solar energy is remarkable, as we continue to grow rapidly and expand our capabilities. By focusing on local manufacturing and reducing dependence on imports, we are paving the way for a cleaner, more sustainable future. The opportunities ahead are immense, and we are committed to driving innovation in this exciting sector. The pace and presence of the industry is irrefutable, and with relentless efforts, India is already on its way to becoming a global clean energy leader." The report added that as India continues to expand its renewable energy capacity, the outlook for the solar sector remains strong. With increasing government support, foreign investments, and technological advancements, the country is well on track to achieving its ambitious clean energy targets, the report added. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
22-03-2025
- Business
- Times of Oman
India's solar sector grows stronger with 60 GW domestic manufacturing: Rubix Data Sciences
New Delhi : India's solar capacity, over the past decade, has grown at an impressive 38 per cent compound annual growth rate (CAGR), now accounting for over 60 per cent of the country's total renewable energy portfolio, the Rubix Data Sciences said in a report. In FY2024 alone, India added a record 24.5 GW of solar capacity, more than double the previous year's installations. The report also highlights a shift toward self-reliance, with solar module imports from China declining from over 90 per cent in FY2022 to 65 percent in FY2024, while exports surged 23-fold, while exports surged 23-fold touching nearly USD 2 billion in FY2024. These developments underscore India's growing influence in the global renewable energy sector, the report added. India's solar sector is expanding rapidly, having surpassed the 100 GW installed capacity milestone - an achievement that places it among the world's top solar energy producers. Commenting on the findings, Mohan Ramaswamy, Co-Founder and CEO of Rubix Data Sciences, said, "India's progress in solar energy is remarkable, as we continue to grow rapidly and expand our capabilities. By focusing on local manufacturing and reducing dependence on imports, we are paving the way for a cleaner, more sustainable future. The opportunities ahead are immense, and we are committed to driving innovation in this exciting sector. The pace and presence of the industry is irrefutable, and with relentless efforts, India is already on its way to becoming a global clean energy leader." The report added that as India continues to expand its renewable energy capacity, the outlook for the solar sector remains strong. With increasing government support, foreign investments, and technological advancements, the country is well on track to achieving its ambitious clean energy targets, the report added.
Times of Oman
05-03-2025
- Business
- Times of Oman
India, Netherlands strengthen ties with $52 billion FDI equity inflows: Report
Mumbai: India and the Netherlands have deepened their economic partnership, with the Dutch emerging as a significant investor in India, contributing a $52 billion in Foreign Direct Investment (FDI) equity inflows, according to Rubix Data Sciences report. The report serves as a crucial guide for Indian businesses looking to leverage the Netherlands' strategic position as a global trade hub. India and the Netherlands have witnessed a remarkable surge in trade relations, making the Netherlands as India's 3rd largest export destination in FY2024, a sharp rise from 7th in FY2020. During these five years, Indian exports to the Netherlands grew at an impressive 28 per cent CAGR, driven largely by refined petroleum, which now makes up 64 per cent of India's total exports to the country. FDI inflows from the Netherlands into India between April 2000 and September 2024 stood at USD 52 billion, making it India's 4th largest foreign investor. The report also sheds light on the Netherlands' key sectoral strengths, including its dominant services sector, which accounts for 77 per cent of the economy, and its position as a global leader in agricultural exports. Mohan Ramaswamy, Co-founder and CEO at Rubix Data Sciences, said, "India and the Netherlands have built a strong trade and investment bond, and the numbers speak for themselves. With the Netherlands now India's 3rd largest export market and a major investor, Indian businesses have a real opportunity to expand their reach." "Whether it is tapping into trade flows or attracting investment, those who understand the trends and act fast will stay ahead. Our report breaks it all down, giving businesses the insights they need to make the most of this growing partnership," he said.
