Hospitality Industry in India

The term ‘Hospitality industry’ refers to the service industry that aims to provide a good and positive experience to the customers who interact with various lodging, theme parks, travel and tourism, food and drink service, event planning, etc. Many businesses and industries fall under this category. Some of them are hotels, resorts, parks, theatres, restaurants, etc. Being a means of customer servicing and comforting, all of these make a part of the Hospitality industry. The main aim of this industry is to make the people comfortable and feel like they belong there.

Hospitality Industry in India – The Sunrise Industry 

When we hear the term ‘hospitality industry,’ we often wonder what type of industry the hospitality industry is? India is known as the ‘sunrise industry’ for its bright future ahead.  

The hospitality industry is divided into many sectors like hotels, tourism, public parks, etc. There are laws formulated for their proper working, like the law of Establishment and the commissioning of hotels. The proper and organised working of the various sectors in the hospitality industry results in the industry’s cumulative success. 

Prospective Trends in the Hospitality Industry

India is a land of rich culture and ethics. The Indians have a slogan called the ‘Atithi Devo Bhava,’ which means in English that ‘guests are equivalent to Gods.’ 

The food and drink industries are one of the well-flourished sectors in India that were struck hard by the pandemic and witnessed a decline in their GDP by 1.5 %. The entire hospitality industry witnessed a shrink in its economic state by 47%. Recently, the tourism sector noticed a decline but is reviving after relief in the covid 19 protocols, which were practised internationally. 

The industries which come under the hospitality industry were doing great in the previous years of 2017 and 2018. A rapid degradation was witnessed as most industries couldn’t stand the harsh pandemic blows. However, these industries are likely to have a bright future with an estimated gradual hike.

The prospects of the hospitality industry in India are great and are likely to rise further. We can say this by looking at how the number of international hotel chains is growing in the country. They have accounted for 47% of the share in the tourism and hospitality sector of India by 2020 and 50% in 2022. These rates are the precursors of the hospitality industry’s rising and flourishing state in the times to come. 

The Main Sectors under the Hospitality Industry

The hospitality industry has many things under it that it governs and looks after. The tourism industry is estimated to reach $460 billion by the end of 2028. The statistics show that the hotel industry is growing at 7% per year. Food and beverages make up a huge part of the hospitality industry and are a flourishing one looking at the population of India. This sector is doing great and is expected to rise and grow by 10.4% per year. The transportation sector has come up with rental transport that is doing good and the existing public transport that helps in the hospitality industry’s prospering. Employing more than 80,000 people across India, theme parks are growing in revenue at 17.5% annually. The examples of the hospitality industry can be some of the top 10 hospitality companies in India-

• Hyatt Hotels Corporation.
• HLV Ltd (Hotel Leela Venture)
• InterContinental Hotels Group.
• Marriott International India Pvt Ltd.
• Radisson Blu Hotels.
• Shangri La Hotels and Resorts. 
• Taj Hotels, Resorts, and Places.
• The Lalit Hotels.

The Economic Support To The Nation

The hospitality industry of India greatly supports the economy of the nation. The tax people pay at the various places under the hospitality department goes to the government fund and enriches the nation’s economy. The GST and other taxes we pay at restaurants, cafes, and lounges add to the government’s vault. The government uses this money for various welfare activities and the improvement and development of the engineering field, architectural field, and many more fields. Statistics speak that the theme parks earn a revenue of 17 billion rupees annually (save for the years 2019, 2020, and 2021 during the pandemic). It is estimated that the food and drink sector will reach a revenue of 5.5 trillion rupees by the end of 2022. The hospitality industry is, thus, one of the major industries in India. 

Conclusion

The hospitality industry in India is a flourishing industry that has a bright future. The many departments in this industry are already doing well, and the improvements being made with time will enhance them and increase their value. The excellent services they provide add to their popularity and provide strong economic support to the nation. The means of recreation and public servicing (like public transport and parks) are being enhanced in the hospitality industry for the ease and the comfort of the users and the customers.