The hotel industry looks verdant: Vision 2047 report promises hotel industry will contribute 1 trillion by 2047

The hotel industry looks verdant: Vision 2047 report promises hotel industry will contribute 1 trillion by 2047

By Author

Published on August 24, 2023

Hospitality industry would be a major contributor to the country’s overall GDP growth and is expected to add around 1 trillion by the year 2047. According to the report named 'Vision 2047: Indian Hotel Industry' complied by Benori Knowledge and Hotel Association of India (HAI), the current hotel industry’s value is around 40 billion in 2022 and will have a significant growth of 68 billion in the year 2027.

 While speaking with the media, Madan Prasad Bezbaruah, the secretary general of HAI added that inorder to achieve these milestones hospitality industry should start focusing on tier two and tier 3 cities as well rather than focusing their entire growth plan in tier 1 cities alone. The report also has given a grand vision for the hotel industry and how many oppurtunities will arise in the near future for many hotel industry people and how they can leverage their business to grand new heights.

 Bezbaruah further added that the Indian government has identified 30 key sectors which is crucial for the industry to reach the desired roadmap. “Different states have different policies when it comes to tourism, while some have given the sector an industry status, others have not. We do not understand why because it doesn’t cost states money to do this," he said.

 The report also speaks about the infrastructure of the hotel which would come in aid during a long-term loan requirements while hotel industries can receive competitive interest rates. This could in turn boost the hotel industry to its potential. Apart from loans, the tourism sector can be boosted by making attractive investments through tax breaks, lenient land use rules, and cash flow assistance to small and medium-sized enterprises (SMEs). Other infrastructure investments, such as aviation programs, regional tourism packages, and business tourism grants, can also help the sector grow.

 Furthermore Bezbaruah added that the hospitality industry should keep “Brand India” image in the forefront as the government is going to adapt the brand image in their upcoming Incredible India 2.0 campaign. He said that though India is a leader in many of the industries across the globe, the marketing of the country should share the same vision by multiple industries to gain attraction of international clientele, meetings and tourists.

 The Vision 2047 is much more greater than the branded hotels itself and it is a cumulative work of industries such as, hospitality, tourism and other related industries should come in as a whole to achieve the vision. This report is even submitted to the ministry of tourism and they have shared their keynotes to HAI on how they can proceed further.

 "The number of domestic and international tourists visiting various states in India for business and recreational reasons is rapidly increasing. All these factors have created new opportunities in tourism and the hospitality industry," the report said. According to the report, most of the hospitality industry people is looking into inbound travel within country and will try to facilitate the tier2 and tier 3 audience as well.


India’s Hospitality Scene Evolves with the Emergence of Exclusive Business Clubs

India’s Hospitality Scene Evolves with the Emergence of Exclusive Business Clubs

By Nithyakala Neelakandan

Published on May 8, 2024

There's a rising demand for exclusive business clubs. Entrepreneurs, corporate leaders, and creative minds now seek sophisticated spaces where they can connect, collaborate, and unwind.

While traditional establishments like Gymkhanas and Golf courses have long been the domain of the elite, gaining membership can be a lengthy process. To meet the evolving needs of professionals, a new wave of members-only private clubs is emerging in business hubs and city centers.

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According to recent research by Axon Developers in collaboration with SKYE, the current market size of these exclusive clubs stands at INR 576 crores. By 2027, this figure is projected to soar to INR 941 crores, reflecting a robust growth rate of 17.8%.

These modern sanctuaries offer more than just meeting spaces. With swanky lounges, gourmet restaurants, fitness facilities, and luxury amenities like spas and art galleries, they provide a holistic lifestyle experience. Standalone clubs such as Quorum, BLVD, and Soho House, alongside established hospitality brands like Chambers and Privie, cater to diverse tastes and preferences.

Beyond business dealings, these clubs host a myriad of events, from art exhibitions to book readings, creating vibrant social hubs for India's upwardly mobile professionals.

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The Western region of India, particularly Mumbai, leads the way in club membership, contributing over half of the revenue and membership volume. Mumbai boasts a rich array of clubs, including SOHO House, Taj Chamber, and Modernist, attracting discerning individuals with a penchant for luxury and innovation.

Membership in these clubs is highly selective, often based on referrals and invitation. Alongside financial status, criteria such as professional achievements and future vision play a pivotal role in admission, instilling a sense of pride among members.


Introducing Saif Ali Khan & Kareena Kapoor Khan as TREVOC Brand Ambassadors

Introducing Saif Ali Khan & Kareena Kapoor Khan as TREVOC Brand Ambassadors

By Nithyakala Neelakandan

Published on April 10, 2024

TREVOC, a prominent name in Gurugram's luxury real estate scene, has achieved a significant milestone by announcing Bollywood icons Saif Ali Khan and Kareena Kapoor Khan as their brand ambassadors. This strategic move solidifies TREVOC's reputation for blending heritage with opulence.

The collaboration with Saif Ali Khan and Kareena Kapoor Khan, renowned for their association with legacy and luxury, aims to reinforce TREVOC's position as the ultimate choice for those seeking sophistication and comfort in their homes. By aligning with these esteemed personalities, TREVOC underscores its commitment to offering innovative designs, cutting-edge amenities, and sustainable living solutions, reshaping the landscape of luxury real estate.

Gurpal Singh Chawla, Managing Director at TREVOC, expressed excitement about the partnership, stating, "We are thrilled to welcome Saif Ali Khan and Kareena Kapoor Khan to the TREVOC family. Their iconic status and shared values resonate deeply with our brand ethos of blending legacy with luxury. With their association, we aim to elevate the living experience and continue our legacy of excellence in the real estate domain."

Sehaj Chawla, Managing Director at TREVOC, echoed this sentiment, emphasizing the brand's commitment to crafting unique projects that epitomize luxury and comfort. He stated, "Collaborating with celebrities has not only reinforced our vision but also broadened our reach to a wider audience seeking luxury developments. Both Saif Ali Khan and Kareena Kapoor Khan exemplify luxury and align perfectly with our Group's vision."

TREVOC, guided by the principles of 'Imagine, Innovate, and Inspire,' stands at the forefront of redefining high-end residential infrastructure. With a legacy spanning over 75 years, the brand remains dedicated to integrating upscale amenities into its luxury projects, enhancing residents' lifestyles. Focused on prime locations such as Golf Course Road, Southern Peripheral Road, and Dwarka Expressway, TREVOC continues to set new standards in the sector, offering unparalleled quality and sophistication.


India ITME Society Launches Multicultural Facility Center in Mumbai

India ITME Society Launches Multicultural Facility Center in Mumbai

By Nishang Narayan

Published on April 10, 2024

India International Textile Machinery Exhibitions Society (India ITME Society), a non-profit organisation, has announced the launch of its Multicultural Facility Center in Mumbai. This facility centre represents a significant milestone in ITME's commitment to creating inclusive spaces where people from all backgrounds can come together to share their traditions, stories, and experiences.

The Multicultural Center, inaugurated by eminent Bollywood actress Ms. Smita Jayakar, accompanied by Mr. Darasing Khurana (Mr. India International 2017) and stand-up comedian Mr. Rohan Gujral, is envisioned as a hub for cultural appreciation and understanding. It will serve as a vibrant venue for a wide range of activities and initiatives aimed at promoting multiculturalism.

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Ms. Seema Srivastava, Executive Director of ITME, expressed her excitement about opening the doors of the centre to the community, welcoming individuals and organisations to utilise the premises for their cultural and professional endeavours. She emphasised that by providing a dynamic space for both cultural and professional gatherings, ITME aims to contribute to the enrichment of the local community and foster meaningful connections among diverse groups of people.

Equipped with state-of-the-art facilities and customizable layouts, the ITME premises offer a seamless experience for event organisers and attendees alike. Whether hosting an intimate gathering or a large-scale event, organisers can leverage ITME's resources to bring their vision to life.

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Ms. Smita Jayakar, a veteran actress, expressed her enthusiasm for the ITME centre, stating that it would bring an extra sparkle to South Mumbai. She highlighted the centre's potential to create a more supportive ambiance for art, culture, theatrical showcases, workshops, book launches, and other cultural events in this dynamic part of Mumbai.

During the launch event, notable authors including Mr. Gopinath Chandra Das, Dr. Shefali Batra, and Ms. Mukta Wankhede showcased their books, further enriching the cultural atmosphere of the occasion.

Established in 1980, India ITME Society is a non-profit apex industry body dedicated to supporting and serving the Textile Engineering Industry through exhibitions, events, trade promotion services, education scholarships, student placements, consultancy, and more. The society plays a pivotal role in strengthening both the domestic and international Textile Industry by facilitating the exchange of knowledge, technology transfer, and encouraging foreign direct investments and joint ventures.

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