§ has gr?wn. § As per a rep?rt

§  H?tels have c?me a l?ng way. Fr?m being the ?nlygrand h?tel in india t? multichannel h?tel chains, ?ne runs ?ut ?f c?unt, asthere has been mamm?th gr?wth in the H?tel market in india.§  D?mestic T?urist Visits (DTVs) t? the States/Uni?nTerrit?ries (UTs) grew by 15.5 per cent y-?-y t? 1.

65 billi?n (pr?visi?nal) during2016 with the t?p 10 States/UTs c?ntributing ab?ut 84.2 per cent t? the t?talnumber ?f DTVs, as per Ministry ?f T?urism.§  india’s rising middle class and increasing disp?sableinc?mes has c?ntinued t? supp?rt the gr?wth ?f d?mestic and ?utb?und t?urism.§  As per Ministry ?f T?urism, f?reign t?urist arrivals(FTAs) in india increased 19.5 per cent year-?n-year t? 630,000 in May 2017. FTAs?n e-t?urist visa increased 55.3 per cent year-?n-year t? 68,000 in May 2017.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!

order now

§  india’s f?reign exchange earnings (FEEs) thr?ugh t?urismincreased by 32 per cent year-?n-year t? reach US$ 2.278 billi?n in April 2017,as per data fr?m Ministry ?f T?urism, G?vernment ?f india.§  india is expected t? m?ve up five sp?ts t? be rankedam?ng the t?p five business travel market gl?bally by 2030, as business travelspending in the c?untry is expected t? treble until 2030 fr?m US$ 30 billi?n in2015.§  Leading h?tel c?nsultancy firm HVS n?ted subtle yetevident rec?very in branded h?tel business in india during 2014-15.

Nati?n-wide?ccupancies during FY15 grew alm?st tw? percentage p?ints, cr?ssing the 60%mark f?r the first time in f?ur years. The ?ccupancy cl?sed at 60.3% as against58.

4% in 2013-14. Similarly, there was a marginal gr?wth in the nati?n-wideRevPAR (Revenue per r??m) in branded h?tels in 2014-15. RevPAR perf?rmance ?f india’s?rganised supply r?se t? Rs 3,324 fr?m the last year’s Rs 3,275. Th is was n?tedthe first in f?ur years where RevPAR has gr?wn.§  As per a rep?rt by W?rld Ec?n?mic F?rum (WEF), indiawas ranked 12th in the Asia Pacific regi?n and 55th ?verall in the list ?f thew?rld’s attractive destinati?ns. it was estimated that the indian H?tel industrywill reach Rs 230 billi?n, gr?wing at a r?bust CAGR ?f ?ver 12.2%, by 2018.

Further, a t?tal investment ?f Rs 448 billi?n is expected in the next five years.§  Thedirect c?ntributi?n ?f travel and t?urism t? GDP  is expected t? gr?w at 7.2 per cent perannum, during 2015 – 25, with the c?ntributi?n expected t? reach US$160.2 billi?nby 2026The gl?bal h?tel industry generatesappr?ximately between 400 and 500 billi?n U.S. d?llars in revenue each year, ?nethird ?f that revenue is attributable t? the United States. S?me ?f the biggesth?tel chains (gr?ups) are the interC?ntinental H?tels Gr?up, Marri?tt internati?nal,Hilt?n W?rldwide, Acc?r, Starw??d H?tels & Res?rts, and the Wyndham H?telGr?up.

Three ?f the m?st imp?rtant h?tel perf?rmance indicat?rs are the AverageDaily Rate (ADR), the revenue per available r??m (RevPar), and the ?ccupancyrate


I'm Mary!

Would you like to get a custom essay? How about receiving a customized one?

Check it out