Harshad Shah’s Post

The Indian hospitality sector is undergoing a remarkable transformation, with leading chains like Oberoi Hotels & Resorts , Taj Hotels and ITC Hotels setting new benchmarks in luxury, service excellence, and financial performance. For instance, Oberoi Hotels & Resorts recorded a stellar fiscal year 2022-23 with revenues of ₹2,096 crore—a 101% growth year-on-year—and profits of ₹329 crore, marking an impressive 446% jump (TOI). Similarly, the The Indian Hotels Company Limited (IHCL) -> Taj Hotels achieved a historic milestone with ₹5,000 crore in revenue for FY23, showcasing its robust growth and enduring brand loyalty (Economic Times). Not far behind, ITC Hotels continues to excel, leveraging its unique blend of sustainability and luxury to capture growing market demand in India and beyond. The broader hospitality industry in India reflects these successes, with the market projected to reach USD 247.31 billion in 2024 and grow at a CAGR of 13.96%, hitting USD 475.37 billion by 2029 (Mordor Intelligence). Revenue Per Available Room (RevPAR) also grew by 15.8% year-on-year in Q4 2023 (Economic Times). What’s even more inspiring is the strategic pivot these brands are making—moving from competition-driven approaches to carving unique niches that resonate with rapidly evolving consumer preferences. Taj Hotels for example, is capitalizing on its heritage properties and culinary excellence to offer authentic Indian luxury experiences, while ITC Hotels focuses on sustainable luxury through its “Responsible Luxury” philosophy. Meanwhile, Oberoi Hotels & Resorts continues to emphasize personalized service and exclusivity, setting new standards in guest satisfaction. This shift aligns perfectly with changing traveler behavior, where guests now prioritize unique, curated experiences over standardized luxury. Domestic tourism has surged, fueled by India’s growing middle class, while the return of international travelers post-pandemic has bolstered premium hotel demand across all major chains. Together, these hospitality giants are not only elevating their brands but also putting India firmly on the global luxury hospitality map. By focusing on guest-centric innovation and differentiated value propositions, they’re shaping a future where Indian hospitality stands as a gold standard for the world.

On Oberoi Hotels & Resorts planning to go big by going small. Having worked with a pioneer of small (& sustainable) hotels in an advisory capacity for almost a decade, I know how exciting a space it is. Customer preferences too seem to be shifting to smaller, more intimate hotels from the something-for-everyone hotels. Covid and the scare around being with strangers in crowded places (and hotels) seems to have accelerated this change in customer preferences and hotel chains seem to be responding too. The Postcard Hotel chain was born of an idea to create bespoke, intimate luxury stay experiences for discerning and well-heeled guests. Its birth around the time of Covid helped it gain customer traction quickly and that's helped fuel its growth and attract others to emulate its model. The Taj too has focused on expanding its footprint of luxury homestays, villas and bungalows via its Ama Trails & Stays brand, and just celebrated opening its 100th villa. Clearly, going big on going small is good for business. What kind of hotel / stay experiences do you prefer when you travel on holiday?

NEWS:  Planning a multi-city adventure in India? Radisson Hotel Group is making it easier than ever! They aim to have a hotel within a 2-hour drive of each other, making road trips a breeze. Plus, they're signing tons of new hotels! But that’s not just all. More global hotel chains are set for expansion in India.   Click below to learn more 👇 https://lnkd.in/erig9TQ2 Sonali Priy Kapoor  #News #GlobalHotels #TravelIndustry #HotelIndustry   #pr #pragency #digitalmedia #digitalmediamarketing #digitalmediamarketing #socialmediamarketing  #thehatchproject

HOSPITALITY NEWS #835 Hotel RevPAR Up 4.8% in Q2: JLL Report Mumbai, Aug 14 (PTI) The revenue per available room rose by 4.8 per cent year-on-year in the hospitality sector in the April-June quarter this year mainly driven by the rise in Average Daily Rate, a report said on Wednesday. However, sequentially, the June quarter recorded a dip in occupancy levels, which can be attributed to the onset of summer vacations and a subsequent decrease of corporate travel, according to JLL's Hotel Momentum India (HMI) Q2 report. The report further revealed that besides a slight decrease in Goa's Average Daily Rate (ADR), all other markets (Bengaluru, Chennai, Delhi, Goa, Hyderabad, and Mumbai) showed considerable growth in ADR and revenue per available room figures, with Hyderabad leading the list. Hyderabad emerged as the RevPAR leader in the second quarter registering a growth of 11.9 per cent over the same period of 2023, followed by Delhi and Bengaluru with year-on-year growth of 11.8 per cent and 10.4 per cent, respectively, it added. Although occupancy levels remained relatively stable in the second quarter compared to the year-ago period, ADR levels improved, leading to an increase in RevPAR across all markets, excluding Goa, it added. The report said that the upcoming quarter is anticipated to benefit from the resurgence of corporate travel, festivals, and other corporate and social Meetings, Incentives, Conferences, and Exhibitions (MICE). The industry's strong momentum and sustained domestic demand for business travel will drive a busy season, it noted. During the April-June period, 82 branded hotels comprising 9,732 rooms were signed. Further, 15 hotels signed were conversions of other hotels, accounting for 11 per cent of the inventory signed in the second quarter. Branded hotel openings comprised 50 hotels with 3,755 keys, of which 90 per cent of the total number of keys were located in Tier II and III cities, including Tirupati, Udaipur, Thane, and Mysore, to name a few. Sources: Rediff

Continuing the expansion of its footprint in India, French hospitality giant Accor has partnered with Dangayach Group to develop two new luxury hotels, Raffles Goa Shiroda and Fairmont Goa Shiroda in Goa. #MIG Accor

A strong rebound in #India's hotel market has investor confidence growing, while international brands are looking to grow their market presence signing #hotels in second and third tier Indian cities. #Hotels #IndustryOutlook #ProjectPipeline #HotelsInIndia

Indian mid-market hotel brands are dominating the smaller cities due to their flexibility. However, they still have a long way to go in Tier-1 regions. https://hubs.li/Q02_yZ5C0

The Indian Hotels Company Limited (IHCL) will expand its existing brands and look to develop new market segments, as it aims to double its portfolio within the following six years #IndianHotelsCompany #hotelpipeline #hotelnews https://lnkd.in/erhp9SY5

2024 could match or surpass last year's record hotel room supply additions This year could match or even surpass last year's record hotel room additions in India, industry estimates showed, pointing to continued robustness in the hospitality industry in the world’s fastest-expanding major economy. Kiran Andicot, regional vice president, South Asia for hotel development at Marriott International said the chain opened 12 hotels, totalling 1,431 rooms, in India last year. Andicot said the numbers for India could be in the same range as in 2023. Jaideep Dang, MD, hotels and hospitality group at JLL, said 2023 was the best year ever in terms of hotel openings. #realestate #property #demand #growth #newlaunches #projects #hotels #luxuryhotels #travel #tourism #data #report #therealtynews #investors #investments #realestateagents #hospitalityindustry #data #report #expansion JLL India Marriott International https://lnkd.in/gMHdu2i6