It is indeed happy days for Indian Hotel sector. As per a recent study conducted by global property consultancy firm Knight Frank India, a total of 36,000 new rooms are expected to be operational in India by end of 2013.
The study which covered the metros and major Indian cities like Mumbai, NCR, Bengaluru, Jaipur, Goa etc estimates a huge growth in terms of upscale, medium and economy rooms in the coming years.
As per the report, the Indian hotel market in terms of no: of rooms demanded per day is estimated to grow at a CAGR (Compound Annual Growth Rate) of 10.3 % during 2010-13 while supply is estimated to grow at a CAGR of 15%.
The research shows that a total of 24,000 (upscale), 8700 (medium) and 3000 (economy) additional rooms are expected to be operational in India by 2013. This huge increase in capacity is sure to play on a downward trend in rates as well as in occupancy levels in the same period.
The above details should be one more reason for Hotels to invest on Travel technology and see that they make best use of their resources in planning for allocations and rates.
Going by the type of enquiries that Teknokraaft gets it seems stake holders in Hotel sector are making a right step in asking about technology etc. Most of the enquiries we are getting now are for Non-Air verticals and primarily hotels.
Let us hope these moves will benefit both the property owners as well as the customers in the coming years.
Author: Vishnu .V
Vishnu works as Sr. Software Engineer in Teknokraaft and works with our OTA team.