More hotel chains are making a foray into Tier 2 and 3 cities.
Marriott International is expanding into non-metro locations, Forum Gandhi reports for businessline. The chain is planning to offer brands like Fairfield and Courtyard in cities like Indore and Jaipur, with properties also expected to launch in Surat, Guwahati, Amritsar, Ludhiana, and Ayodhya, among others.
Westin Hotels and Resorts, which is owned by Marriott International, is slated to launch a wellness resort in Coorg, while Le Meridien is looking to expand across north India, the report says. Rajeev Menon, President, Asia Pacific (excluding China) at Marriott International, says that the next leg of growth will come from Tier 2 and 3 markets.
ITC, Taj Hotels, Radisson, the Leela Group, and Lemon Tree Hotels are eyeing these markets too, DR. RUCHITA VERMA, Dean - School of Hospitality Management at NMIMS University, shares in an Economic Times article. Agra, Siliguri, Katra, and Bhubaneswar are emerging hubs for hospitality as well.
Reason? Improved connectivity, growing disposable incomes, demand for both business and leisure travel, and industrial development, Verma adds.
The contribution of the hotel industry to India’s GDP is projected to touch $1 trillion by 2047, according to a report released last year by the Hotel Association of India and Benori Knowledge.
Source: businessline - https://lnkd.in/gcTzxb9k
The Economic Times - https://lnkd.in/d5PmPqvG
Financial Express (India) - https://lnkd.in/gZabM8Xq
✍: Abhiraj Ganguli
📷: Getty Images
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