India is tipped to be the next engine of growth for the hotel industry in the Asia-Pacific region, as global hospitality brands embark on aggressive expansion in an
“underserved” market.
The country’s huge and increasingly prosperous population – it recently superseded China as the world’s most populous country – and an estimated threefold rise in foreign tourists in the next few years will ensure a race among hospitality providers to meet rapidly expanding demand for accommodation, analysts said.
It may, however, take time before India is in a position to supplant China as the largest hospitality market (https://www.scmp.com/business/article/3194274/asia-pacific-tourism-wont-recover-until-2024-absence-mainland-chinese?utm_source=google_amp&utm_medium=Off-Platform-referrals&utm_campaign=3220151_inline_link) in the region.
American hotel operators Hilton and Radisson Hotel Group (RHG) are rushing to capture a share of the growing Indian market.
Hilton is planning to double its portfolio there every three to five years, according to Alan Watts, its Asia-Pacific president. RHG, meanwhile, aims to open its very first Radisson Collection hotel, in India in 2026.
Source: SCMP
