[Latest] India Luxury Hotel Market Size/Share Worth USD

Austin, TX, USA, March 22, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “India Luxury Hotel Market Size, Trends and Insights By Type (Business Hotels, Airport Hotels, Suite Hotels, Resorts, Others), By Category (Chain, Independent), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.

“According to the latest research study, the demand of India Luxury Hotel Market size & share was valued at approximately USD 29.4 Billion in 2022 and is expected to reach USD 32.4 Billion in 2023 and is expected to reach a value of around USD 62.2 Billion by 2032, at a compound annual growth rate (CAGR) of about 8.1% during the forecast period 2023 to 2032.”

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Indian Luxury Hotel Market: Overview

A luxury hotel is a high-end accommodation facility that surpasses conventional standards, offering a premium and opulent experience to guests. Characterized by exceptional service, sophisticated design, and lavish amenities.

The luxury hotel market in India is witnessing dynamic trends reflecting changing consumer preferences and industry dynamics. Customized experiences tailored to individual tastes, wellness offerings, and sustainability practices have become prominent.

The integration of technology, such as contactless check-ins and smart room features, aligns with modern expectations. Unique collaborations between luxury hotel chains and local businesses enhance the cultural and culinary experiences offered to guests.

The rise of experiential travel has led to an emphasis on curated activities, including local tours and authentic cultural engagements.

Additionally, eco-friendly initiatives, from sustainable architecture to responsible sourcing of materials, are gaining importance, reflecting a growing consciousness towards environmental impact. As India’s economy continues to grow, the luxury hotel market is evolving to meet the diverse demands of both domestic and international luxury travelers.

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By type, the business hotels segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2023-2032. Current trends in Indian luxury business hotels emphasize technology integration for seamless experiences, eco-friendly practices, and flexible workspaces to cater to the evolving needs of business travelers.

By category, chain operated hotels segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. In the Indian luxury hotel market, key trends in chain-operated hotels include a focus on sustainable practices, integration of advanced technology for enhanced guest experiences, curated wellness offerings, and personalized services. These trends reflect evolving consumer preferences and contribute to the growth and competitiveness of luxury hotel chains in India.

South India burgeoning luxury hotel market is propelled by a fusion of cultural richness and burgeoning business hubs. The rise of experiential travel, demand for sustainable and wellness-focused offerings, and a growing affluent middle class further drive the demand for upscale accommodations.

The region’s historical landmarks, IT-driven corporate travel, and a growing affluent demographic contribute to the demand for upscale hospitality experiences, shaping key trends in the luxury hotel market.

Report Scope

Feature of the Report	Details
Market Size in 2023	USD 32.4 Billion
Projected Market Size in 2032	USD 62.2 Billion
Market Size in 2022	USD 29.4 Billion
CAGR Growth Rate	8.1% CAGR
Base Year	2022
Forecast Period	2023-2032
Key Segment	By Type, Category and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Country Scope	India
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the India Luxury Hotel report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2023
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the India Luxury Hotel report has been modified to include the COVID-19 impact study prior to delivery.)

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Custom Market Insights has comprehensively analyzed India luxury hotel market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict depth scenarios of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Indian luxury hotel industry.

The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.

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Key questions answered in this report:

What is the size of the India Luxury Hotel market and what is its expected growth rate?
What are the primary driving factors that push the India Luxury Hotel market forward?
What are the India Luxury Hotel Industry's top companies?
What are the different categories that the India Luxury Hotel Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the India Luxury Hotel market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2023−2032
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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India Luxury Hotel Market: Regional Analysis

India luxury hotel market is segmented into South India, North India, West India and East India. South India dominated the global market in 2022 with a market share of 45% in 2022 and is expected to keep its dominance during the forecast period 2023-2032.

South India plays a pivotal role in propelling the luxury hotel market in India due to its rich cultural heritage, diverse landscapes, and growing economic influence. The region’s historical attractions, such as ancient temples and palaces, coupled with scenic destinations, attract both domestic and international high-end travellers.

Cities like Bangalore, Chennai, and Hyderabad, being major IT hubs, contribute significantly to business tourism, fostering the demand for luxury accommodations. South India’s culinary delights, traditional art forms, and wellness practices also enhance the appeal of luxury experiences.

As the region witnesses economic growth, an increasing affluent class and corporate travel further boost the demand for upscale hospitality. The incorporation of cultural allure, business opportunities, and a rising affluent demographic positions South India as a driving force in shaping and expanding the luxury hotel market across the country.

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List of the prominent players in the Indian Luxury Hotel Market:

OYO
Lemon Tree Hotel
Treebo
Hyatt Hotels Corporation
InterContinental Hotel Groups
Marriott International
Radisson Blue Hotels
Shangri La Hotels & Resorts
Taj Hotels Resorts & Places
The Lalit Hotels
The Leela Palace
The Oberoi Group
The Park Hotels
Bharat Hotels Limited
Hotel Leela Venture Limited
ITC Hotels Limited
The Indian Hotels Company Limited
Sarovar Hotels Private Limited
Marriott Hotels India Private Limited
Rosewood Hotels & Resorts
Others

Marriott International aims to expand its India portfolio to 250 hotels by 2025, with plans to open over 100 properties in at least ten new cities, according to CNBC-TV18. The hotel chain currently operates 140 hotels across the country.

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The Indian Luxury Hotel Market is segmented as follows:

By Type

Business Hotels
Airport Hotels
Suite Hotels
Resorts
Others

By Category

Chain
Independent

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This India Luxury Hotel Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Key Players in This India Luxury Hotel Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Market Status of the India Luxury Hotel Market? What Was the Capacity, Production Value, Cost and PROFIT of the India Luxury Hotel Market?
What Is the Current Market Status of the India Luxury Hotel Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of India Luxury Hotel Market by Considering Applications and Types?
What Are Projections of the India Luxury Hotel Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is India Luxury Hotel Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On India Luxury Hotel Industry? What are Macroeconomic Environment Analysis Results? What Are Macroeconomic Environment Development Trends?
What Are Market Dynamics of India Luxury Hotel Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for India Luxury Hotel Industry?

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Reasons to Purchase India Luxury Hotel Market Report

India Luxury Hotel Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
India Luxury Hotel Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
India Luxury Hotel Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
India Luxury Hotel Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the India Luxury Hotel market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide India Luxury Hotel market analysis.

The competitive environment of current and potential participants in the India Luxury Hotel market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide India Luxury Hotel market should find this report useful. The research will be useful to all market participants in the India Luxury Hotel industry.
Managers in the India Luxury Hotel sector are interested in publishing up-to-date and projected data about the worldwide India Luxury Hotel market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in India Luxury Hotel products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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