Global hotel chains are racing to expand in India, riding a post-pandemic rebound in leisure travel among wealthier consumers.
“Given the growth of the industry, I would say that in five years’ time, we should have five times the number of hotels that we have today, because that’s what the market would warrant,” Hyatt Hotels President, Mark S. Hoplamazian said at the HOPE conference in Goa.
Hyatt, which operates 55 hotels in India across cities including New Delhi, Mumbai and Bengaluru, had earlier set a target of expanding its network to 100 properties by 2030. Globally, Hyatt has more than 1 400 hotels. India’s population growth, rapid urbanisation and rising travel aspirations are driving an industry expected to nearly double to $55.7 billion by 2031 from $23.5 billion in 2025, according to consultancy Mordor Intelligence.
–Reuters–
