26 Mar India: A popular market and destination for Hoteliers and Tourists alike
The outlook of 2017 for the hospitality sector in India began increasingly stimulating. The Louvre Hotel Group acquired a major stake in India’s leading hotel management business, Sarovar Hotels. This particular deal set precedent for a growing market.
The Indian hospitality industry is an attractive market for future investment as well as an increasingly popular destination for tourists alike. Statistics show that the Tourism sector in India accounts for 7.5 per cent of GDP; additionally it is the third largest foreign exchange earner for the country. The Indian tourism and hospitality industry is rapidly emerging as one of the key drivers of development among the services sector in India – (India Brand Equity Foundation, IBEF).
India’s travel and tourism industry has huge growth potential. Moving forward it is estimated that over in the next five years the region of India will provide the fastest growing wellness tourism sector in the world. This sector provides FEBC with a valuable opportunity to assist the hoteliers on their journey to develop new or upgrade existing hotels.
FEBC have worked on several key landmark hotel projects in India.