Project Report For Hotels
The project report for Hotels is as follows.
India ‘s hotel industry is expected to rise from about $7.5 billion in 2019 to $16.8 billion by 2025, with a CAGR of almost 15% in the projected period.
The industry is projected to expand due to rising urbanization, rising international as well as local tourism industry, combined with-disposable income in the region.
Broadening the young and working age people, combined with an growing number of dual-income families, is projected to have a positive effect on the industry in the upcoming years.
The nation’s hotel industry is classified as Mid-market Hotels, Luxury Hotels and Economy Hotels.
Mid-market hotels have the biggest share as well as the growth is projected to increase in the near future owing to customer-friendly costs, standard facilities and reasonable room benefits supplied by Mid-market hotels.
However, both the Upscale and the Economy markets are still projected to see robust double-digit development throughout the projected period.
In fact, due to growing investment by foreign hotel companies in the country’s hotel industry, further hotels are anticipated to emerge in the near future.
North India hold the majority the nation’s hotel market in 2019, and the area is anticipated to stay dominant in the projected era.
Market potential & Strategy
The hotel market in India is heavily reliant on the tourism industry and, as a result , government measures to enhance tourism perform a vital function in promoting the growth of the sector. The Ministry of Tourism, together with the Ministry of Civil Aviation and the Ministry of Railways, supports tourism throughout the nation.
Policy such as SWADESH DARSHAN, PRASHAD and the implementation of E-Visa have been adopted by the Ministry of Tourism to expand the size of tourists in India.
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