‘India Hospitality Overview 2022’ Released by NOESIS

NOESIS announces the launch of its latest report, ‘India Hospitality Overview 2022’ that showcases the current state of the hotel and tourism industry in India.

According to the report, the majority of markets have surpassed 2019 levels, indicating a positive trend for the industry. In 2022, the industry experienced a critical year with unique opportunities, and domestic businesses seized the chance with 66% of hotel signings. Meanwhile, international brands signed 44% of the total keys, resulting in the opening of 10,138 keys. This exciting future is set to continue with a pipeline of 7,163 keys being added from 2023 onwards.

NOESIS notes that the pattern of hotels opened in India continues to favour domestic companies, with only a quarter of hotels opened being associated with international brands. However, when it comes to keys opened, they have been fairly balanced. This indicates that the Indian hospitality industry is still dominated by domestic players, but international brands are also making a significant impact.

North India will account for 38% of all hotel signings in 2022, with Himachal Pradesh (8.6%) and Rajasthan (8.1%) leading the way. This is followed by India’s Western region, which is driven mostly by Gujarat (10.4%) and Maharashtra (9.5%), as well as other states. Tier 2 cities accounted for 46% of hotel signings, with untapped destinations accounting for 33%, and Tier 1 and Tier 3 cities accounting for around 10% of hotel signings each.