As the Indian economy continues to grow, there is a substantial rise in the number of international travellers visiting the country for business, many of whom prefer to stay in luxury hotels. Also, there are international travellers who continue to visit different cities in the country to experience India’s rich cultural heritage and traditions.
Use of the internet to book hotels is seeing growth, because online booking websites provide price comparisons, seasons when prices are the lowest, extra discounts and consumer reviews, giving more freedom to price-conscious Indian consumers. As luxury hotels witnessed a shift towards online bookings, they increased their investment in digital platforms, such as developing mobile applications and offering promotional discounts to attract consumers’ attention.
The success of any business can largely be attributed to its location. The same applies for the service-driven luxury hotels category.
Luxury hotels in India was led by Indian Hotels Co in retail value terms in 2017. The company operates the famous Taj brand of hotels, which is known for its service in the luxury hotels segment.
Luxury hotels has been a niche category in India, allowing the few operators to have access to an ever-growing client base, which is rising as a result of increases in disposable incomes. However, the year 2018 saw several new announcements being made that will make the category more competitive.
During the forecast period, new luxury hotels are expected to be developed in strategic locations. For example, there was an announcement about the development of a luxury hotel at Pragati Maidan, Delhi, where India’s biggest trade shows and exhibitions are organised.
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Discover the latest market trends and uncover sources of future market growth for the Luxury Hotels (5-star plus) industry in India with research from Euromonitor's team of in-country analysts.
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