Hotel Demand Growing Twice The Rate Of Supply In India, Says Report

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Hotel Demand Growing Twice The Rate Of Supply In India, Says Report

External Article21 November 2018

Branded hotel chains India set to see 50% growth, according to PwC

arabianbusiness.com

Indian hospitality sector is expected to witness an exponential growth over the next three years, with the branded hotel chains set to see a 50 percent growth in their capacities by 2022, on the back of rising demand hugely outstripping current supply, a recent PwC report has said.

“The supply in Indian hospitality sector is growing at 8 percent year-on-year. However, demand is growing at almost twice this rate,” the report said, adding that this is leading to more and more international chains and brands of existing chains being launched in India.

According to the PwC report, Marriott, which currently operates 104 hotels in India, is expected to add another 50 hotels to its portfolio, while Radisson, which currently has a total of 76 hotels across various cities in India, is expected to add another 85 hotels by 2022.

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