Business sentiment strong among Indian hoteliers: Report

With growing confidence across the travel accommodation sector, hoteliers are waiting for inbound travel to return to normal. 88% of the hoteliers feel that attracting international tourists will be one of the biggest business opportunities in 2024.

Apart from foreign tourists, 78% feel attracting families, 72% feel offering local experiences and attracting more domestic travellers and 64% feel that spiritual tourism will be the other opportunities for the industry.

Claudia Cramer, Director Market Research, Statista said, “Following initial signs of revival in 2022, travel and tourism continue on the recovery course in India in 2023. Despite ongoing challenges, Indian hoteliers are excited about the return of international tourists and are embracing the digital revolution."

While the industry is upbeat, there are certain challenges as well. Operating cost, cost of energy and taxation are the challenges highlighted by the hoteliers. Staffing costs, economic uncertainty and cost of investments are the other challenges. The industry is expected to invest more in sustainability, digital transformation and AI.

Santosh Kumar, Country Manager for India, Booking.com said, “2023 has been a year of recovery and optimism for the Indian hotel and holiday rental operators."