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Monday, 01 April, 2019, 14 : 15 PM [IST]

India to have 3.33 million rooms by 2023: Hotelivate Report

'The Ultimate Indian Travel & Hospitality Report' by Hotelivate reveals the anticipated surge in the number of hotel rooms up to 3.33 million in 28 years through 2023. As of December 2018, India offers 2.72 million accommodation options offering traditional chains, to new-age hotel chains, independent/unbranded hotels and alternate accommodation like guesthouses and homestays. TravelBiz Monitor offers key highlights compiled by Hotelivate in association with WTTC India Initiative and CAPA India.
Hotelivate, a new-age hospitality consulting firm in the Asia Pacific region, is proud to present The Ultimate Indian Travel & Hospitality Report in association with WTTC II and CAPA India. Among other critical trends and discussion points, this comprehensive research document estimates the size of the Indian hospitality industry in terms of the number of lodging/accommodation rooms across branded/traditional hotel chains (predominantly organic branded), new-age hotel chains (mostly conversion-branded), independent or unbranded hotels and alternate accommodation.

Commenting on it, Manav Thadani, Founder Chairman, Hotelivate and co-author of the report said, “There have been massive debates about the overall size of the Indian hospitality industry. While numerous estimations have been made, most fail to leverage a sound methodology. So, the Hotelivate team decided to conduct a detailed market sizing exercise, consulting key industry stakeholders and using its experience in tracking hotel markets across the country for over two decades. While we are not claiming to be 100% accurate, our approach is methodical and uses reliable data points and assumptions.”

In addition to the industry size, 'The Ultimate Indian Travel & Hospitality Report' presents interesting trends on tourism (inbound, domestic and outbound) and domestic transportation (air, rail and coach/bus). Thadani notes, “While a lot of this information is available in public domain, it is rarely referred to by the hospitality industry in an insightful manner. Part of it could be due to the lack of such information being available through a single source. Hence, Hotelivate has tried to address this by collating all relevant trends and statistics, enabling the report to serve as an all-inclusive reference document.”

The Ultimate Indian Travel & Hospitality Report pegs the total number of lodging/accommodation rooms in the country as of December 2018 at 2.72 million, that operate across branded/traditional hotel chains, new-age hotel chains, independent or unbranded hotels and alternate accommodation. 
The firm tracked close to 500 hospitality markets in the country and based on data from various credible sources, established the “known” supply of lodging/accommodation rooms in each of these by the type of accommodation. To account for the “unknown” supply, Hotelivate consulted various industry experts and used its own judgement to quantify (via tracking percentages) the extent to which the rooms supply in each of these markets is known. Using the tracking percentages, the unknown supply was determined and added to the base of known supply to arrive at the total market size.

 
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