Indian hotel market projected to reach $13 billion by 2020

hotel, Indian hotel market projected to reach  billion by 2020, Buzz travel | eTurboNews |Travel News

The Indian hotel market is projected to grow to around $13 billion by 2020, according to FICCI-Yes Bank Knowledge Paper titled ‘Tourism Infrastructure Investments: Leveraging Partnerships for Exponential Growth’.

Further, as per World Travel & Tourism Council’s 2018 report, the industry contribution to capital investment in India was Rs 2706.1 bn in 2017 and is projected to grow 6.7 percent per annum in next 10 years to Rs 5546.3 bn by 2028, higher than the global average of 4.5 percent.

Despite increase in private sector investment, the Indian hotel industry observed a decline in average room rate and room occupancy in 2016-17 which is largely attributed to lower participation of hotels in the five-star deluxe and five-star categories in India.

hotel, Indian hotel market projected to reach  billion by 2020, Buzz travel | eTurboNews |Travel News

Author: Chief Assignment Editor

Chief Assignment Duty Editor based in Honolulu

hotel, Indian hotel market projected to reach  billion by 2020, Buzz travel | eTurboNews |Travel News