With demand finally outpacing supply, the Indian hospitality industry is on an upswing. The 'India Hospitality Industry Review 2018' report by HVS ANAROCK predicts RevPAR to grow by 9.5 per cent in 2019.
Marriott International on February 4 said that it is bullish on the Indian hotel industry as Indian hospitality industry would witness much growth. At the launch of Marriott Hotel Whitefield, Bangalore, Marriott International Area vice-president (Indian Subcontinent) Rajeev Menon said that the company has seen immense growth and opportunities since the launch of their hotel in Goa in 1999.
The year 2012 brought a ray of hope for the Indian hospitality industry following rise in foreign tourist arrivals and domestic travellers in large numbers. The industry reeled under a downturn for almost two years before. Meanwhile, a slew of leading global hospitality chains announced big plans for India during the year.