Chennai: The hospitality sector is poised for good days ahead. After three consecutive years of reversals, it is all set for revival as the business climate in the country improves, a fall-out of political and economic stability, visible after the assumption of the new government at the Centre.
Early signs of recovery are the growth in supply vis-a-vis growth in demand across some markets. Among the key cities in India, Chennai occupied fourth place, offering about 7,105 rooms by branded hotels alone, while Mumbai maintained its top position with the highest existing supply of branded rooms of 13,022 in the country, followed by Delhi, with 12,025 and Bengaluru, 9,877, according to the HVS Hotel Industry Report 2013 -14.
The Taj Hotels, Resorts & Palaces, with a cumulative room inventory of over 12,000 across brands, remained the leading hotel brand in the country, followed by ITC Hotels (including Fortune), Carlson Rezidor, Starwood Hotels, and Marriott International in that order.
While Marriott International displaced Hyatt as the fifth leading hotel brand in terms of existing inventory, Accor became the seventh largest brand in India, pushing Sarovar Hotels to the eighth position, as per the Hotel Industry Report for 2013-14 - Hotels in India: Trends & Opportunities. The survey, compiled with inputs from 814 hotels across the country, comprising a total room count of 99,301, noted an increase of 97 hotels and about 13,180 rooms compared to the 2012-13 survey.
India had 1,03,855 branded/ organised hotel rooms on March 31, 2014. Supply is expected to grow by under 10 per cent in 2014, about 12 per cent in 2015, and approximately 11 per cent in 2016, according to the survey.
