From builders, contractors, real estate companies, real estate developers have most branded hotels in India are at the top end of the market, the hotel industry is top heavy. A number of companies are addressing the requirements of the increasing domestic market for more economical hotels, hotel projects, 5 star hotel construction, 5 five star hotel India, hotel accommodations and luxurious hotels.
The Domestic Factor for Hotel Development
Among the excellent features of the Indian hotel industry is the overwhelming volume of the domestic market. As a rule hotels receive double the number of domestic clients than international clients.
India is likely to witness a steady and continued trend of boom in expenditure, fuelled by higher disposable incomes. This is excellent news for the hotel industry as higher disposable incomes enhance the concept of traveling.
A healthy domestic demand and sustained foreign tourist inflow shall facilitate popular leisure destinations in absorbing potential hotel developments, 5 star hotel construction, 5 five star hotel India as a hotels projects thus continuing the current trend of value appreciation.
Several hotel projects in the Indian Hospitality sector have been steadily coming up with respect to the viability of hotel business in India. Nevertheless, the real estate and hotel industry of India have also been aligning their roadmap in quite a rhythmic way.
Opportunities in Tier-II and Tier-III cities too are looking great. Analysts estimated that there are about 16 cities like Jaipur, Agra, Goa, Pune, Ludhiana, Chandigarh, Ahmedabad and Cochin that have potential for a strong hotel industry.
India is a very famous holiday destination in the world and provides plenty amenities as far as lodging is concerned. It has state of the art hotels to cater to its ever booming travel and tourism industry. Hotel Development India have popped up in India over the last few years to cater the accommodation needs of everybody. India is dotted with hotels that fit in every budget. There are hotels ranging from luxury hotels to economy hotels.
Metro cities markets have witnessed strong demand from the extended stay and domestic business travel segments. The surfacing of relatively new feeder markets and steady demand for quality lodging across most business destinations from niche markets, like the extended stay segment, ensures that hotels now have a base demand that guarantees certain minimum level of occupancy. This type of demand is advantageous to hotels because it provides a base level of hotel reservation, hotel accommodations and luxurious hotels over an extended period that usually includes weekends and slow seasons.
The International Factor in Hotel Era
Even though the international market is considerably smaller than India's domestic market, it also shows potential for growth. Tourism in India including hotel accommodations also benefits from the stronger economy of India's major source markets - the United Kingdom and the United States. Presently business travel dominates the international arena.
The global financial crisis may cause a temporary depression in demand for hotel rooms in India, but foreign hotel chains betting on the country’s enduring growth say their expansion plans remain on track.
“People the world over are nervous because of the financial crisis, and investments are the last thing on their mind,” said Ray Stone, senior vice-president of sales and marketing at Accor Asia Pacific. “IN INDIA THAT IS DESTINED TO EXPAND, IT WOULD BE UNWISE NOT TO INVEST.”