This report highlights the key trends in the Indian hospitality sector in 2020 along with the sector performance metrics, brand signings and openings during the year. It also provides our outlook for the sector for 2021.
Domestic leisure tourism in India is finally receiving the pedestal it always deserved, with hotel companies renewing their focus on increasing footprint at leisure destinations in the country in the post-COVID era. However, there is significant untapped potential in this segment as India has several fledgling tourist places where travelers still struggle to find good quality branded accommodation.
Internship is a crucial first step into the Indian hospitality sector for most hospitality students in the country. The HVS internship study explores the perspectives of the different stakeholders - students, industry and academia - to understand the challenges faced by them during internship programs. Additionally, it also identifies the best practices and offers recommendations that can help make the internship program more successful going forward. Read our latest report to know more.
2020 was a challenging year for hotel transactions in India, with hotel transactions value in the country contracting by approx. 50% compared to the previous year. The uncertain market conditions and COVID-19 related restrictions suppressed M&A activity during the year as companies adopted a wait-and-watch policy.
India is known for its rich heritage and cultural diversity. Heritage tourism has the potential to lead the revival of travel & tourism sector in the country and collaborative efforts by the public and private sectors will be crucial going forward.
India's first post-COVID budget failed to provide any direct and immediate support to the Indian hospitality sector. However, the massive fillip given to other allied sectors such as healthcare and infrastructure will indirectly help boost the tourism and hospitality sector’s growth in the long-term.