India Hotels Market Forecast: Strong 9.4% CAGR Highlights Robust Hospitality Sector Revival

The India Hotels Market size was valued at USD 32.10 Billion in 2023 and the total India Hotels revenue is expected to grow at a CAGR of 9.4% from 2024 to 2030, reaching nearly USD 59.44 Billion by 2030.

India Hotels Market Overview

The India Hotels Market represents the growing hospitality and accommodation industry catering to both domestic and international travelers across luxury, midscale, budget, and resort segments. Valued at USD 32.10 billion in 2023, the market is projected to reach USD 59.44 billion by 2030, growing at a CAGR of 9.4%. The industry has evolved rapidly with the integration of digital technologies such as touchless check-in/check-out, mobile-based room keys, AI-powered concierge services, and chatbots for personalized customer interactions. These innovations enhance guest experience, streamline operations, and improve customer loyalty. Furthermore, the government's initiatives to promote tourism, host international events, and improve infrastructure have accelerated the industry's growth. The rising number of hotel projects, increasing urbanization, and expansion into Tier-2 and Tier-3 cities underline India's strong position as one of the fastest-growing hospitality markets globally.

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India Hotels Market Dynamics

The market is primarily driven by the rising disposable income, increasing domestic travel, growth in the aviation industry, and higher foreign tourist arrivals. Policy support such as reduced GST rates on hotel tariffs has further stimulated industry growth. Moreover, India's hosting of global events like the G20 Summit and international trade fairs has boosted tourism-related activities and hotel occupancy rates.
However, the industry faces challenges such as a shortage of skilled manpower, high labor costs, and uneven room supply in high-demand regions. The post-pandemic recovery has brought strong momentum, with occupancy rates reaching 60-67% and RevPAR increasing by nearly 90% compared to the previous year. Technological advancements-such as the adoption of AI, IoT, mobile payments, and data analytics-are helping hoteliers improve marketing efficiency, optimize revenue management, and deliver personalized guest experiences, creating new opportunities for growth.

India Hotels Market Outlook and Future Trends

The future outlook for the India Hotels Market is highly positive, characterized by continued expansion in branded hotel chains, investments in leisure destinations, and increased participation of international hotel groups. By 2030, the market is expected to witness strong capacity additions, with over 480 new projects and 57,000+ rooms in the pipeline. Hotel operators are strategically expanding into Tier-3 and Tier-4 cities, where tourism and business travel are on the rise. Sustainability and eco-friendly operations are gaining importance, with many hotels adopting energy-efficient systems, green certifications, and waste management programs. The integration of AI-driven personalization, virtual concierge services, and data-driven pricing models will further enhance operational efficiency. Moreover, the surge in domestic tourism, staycations, and digital booking platforms is expected to sustain long-term growth across all segments of the hospitality ecosystem.

Key Recent Developments

Evolve Back Kamalapura Palace in Hampi was selected as the official venue partner for hosting the Third G20 Culture Working Group and Sherpa meetings, highlighting India's growing prominence in global hospitality.

Major chains such as IHCL, Lemon Tree Hotels, and Marriott International announced significant expansion plans, with new hotels and room additions slated for the next few years.

Radisson Hotel Group expanded its footprint in India by signing 21 hotels across nine brands, while Marriott announced the opening of 12 new properties adding 1,200 rooms.

OYO, one of India's largest hotel networks, expanded to over 500 cities with 18,000+ hotels and 270,000+ rooms, underscoring the rapid digitalization of the budget hotel segment.

The government's focus on tourism infrastructure development, improved connectivity, and ease of doing business in hospitality continues to attract both domestic and foreign investments.

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India Hotels Market Segmentation

by Type of Hotel

Luxury Hotels
Economy Hotels
Resorts
Midscale and Upscale Hotels
Others

by Ownership Model

Chain Hotels
Independent Hotels

Some of the current players in the India Hotels Market are:

1. OYO(Gurugram, Haryana)
2. Lemon Tree Hotel(Delhi)
3. Treebo(Karnataka)
4. Hyatt Hotels Corporation(Chicago Chicago)
5. InterContinental Hotel Groups(United Kingdom)
6. Marriott International(United States)
7. Radisson Blue Hotels(Belgium)
8. Shangri La Hotels & Resorts(Hong Kong)
9. Taj Hotels Resorts & Places(Maharashtra)
10. The Lalit Hotels(New Delhi)
11. The Leela Palace(Maharashtra)
12. The Oberoi Group(Delhi)
13. The Park Hotels(West Bengal)
14. Bharat Hotels Limited(New Delhi)
15. Hotel Leelaventure Limited(Maharashtra)
16. ITC Hotels Limited(West Bengal)
17. The Indian Hotels Company Limited(Maharashtra)
18. Sarovar Hotels Private Limited(Maharashtra)

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