New Delhi: Indian and global hotel chains are setting ambitious targets of reaching milestone hotel numbers by 2030. Industry experts said the pace of expansion is the fastest and the most aggressive the industry has seen in its history.
In the last fiscal year, Tata Group-backed Indian Hotels Company (IHCL) clocked a record 74 signings and it has 243 operating hotels with 137 in the pipeline.
Suma Venkatesh, executive vice president, real estate and development at IHCL, said under its 'Accelerate 2030' strategy, IHCL is 'steadfast' in its commitment to realise India's tourism potential by tapping heterogeneous markets and taking its portfolio to 700 hotels by 2030. "This vision is supported by the long-term structural tailwinds for the sector including India's forecasted GDP growth of over 6%, government's continued focus on infrastructure spend, hotel demand outpacing supply and the rising affluence of the consumer base," she added.
Radisson Hotel Group is aiming to reach the 500-hotels mark by 2030, while Marriott International is targeting 50,000 rooms in India across 250-300 hotels over the next three to five years. Kiran Andicot, regional vice president, South Asia, for hotel development at Marriott International, said the chain inked 42 deals for new hotels last year and it has 158 operational hotels. Andicot said the expansion will reshape the market through a wider distribution of branded hotels beyond major metros, increased use of franchise and conversion models to scale quickly, and infrastructure upgrades in smaller cities to support hospitality growth.
ITC Hotels plans to expand its current portfolio of 144 hotels and over 13,300 keys to over 200 hotels with over 18,000 keys by 2030 with two-third salience of managed portfolio, said CEO Anil Chadha. "There is a growing guest preference for diverse and conscious tourism offerings. Riding on a strong demand wave, India is set to witness an increase in hotel inventory across brands," he added.
As per HVS Anarock research, over 47,000 branded rooms were signed during calendar year 2024, and more than 13,800 keys became operational. As of December 2024, India had a pipeline of over 100,000 keys scheduled to open by 2030, pointing to accelerating momentum. "If this pace continues, India's total branded inventory could rise to over 300,000 keys by 2030, helping bridge the growing demand-supply gap. This period marks one of the most aggressive but sustainable growth phases for many operators in India, reflecting the sector's confidence in the country's long-term hospitality potential," said Mandeep Lamba, president and CEO, HVS Anarock.
The pace at which hotels have been signed and opened in the past two years is quite substantial, and there is potential in the market for a lot more expansion, said Vijay Thacker, MD of consulting firm Horwath HTL India. "In reality, hotels comprise the critical infrastructure needed for economic growth. Expansion of airlines, delegation visits, business and MICE travel will drive the demand for more hotel rooms," he said.
"Let's recognise that different targets and estimates are set for domestic and international tourism, and if any of that has to be achieved, we will need a lot more inventory," he added.
In the last fiscal year, Tata Group-backed Indian Hotels Company (IHCL) clocked a record 74 signings and it has 243 operating hotels with 137 in the pipeline.
Suma Venkatesh, executive vice president, real estate and development at IHCL, said under its 'Accelerate 2030' strategy, IHCL is 'steadfast' in its commitment to realise India's tourism potential by tapping heterogeneous markets and taking its portfolio to 700 hotels by 2030. "This vision is supported by the long-term structural tailwinds for the sector including India's forecasted GDP growth of over 6%, government's continued focus on infrastructure spend, hotel demand outpacing supply and the rising affluence of the consumer base," she added.
Radisson Hotel Group is aiming to reach the 500-hotels mark by 2030, while Marriott International is targeting 50,000 rooms in India across 250-300 hotels over the next three to five years. Kiran Andicot, regional vice president, South Asia, for hotel development at Marriott International, said the chain inked 42 deals for new hotels last year and it has 158 operational hotels. Andicot said the expansion will reshape the market through a wider distribution of branded hotels beyond major metros, increased use of franchise and conversion models to scale quickly, and infrastructure upgrades in smaller cities to support hospitality growth.
ITC Hotels plans to expand its current portfolio of 144 hotels and over 13,300 keys to over 200 hotels with over 18,000 keys by 2030 with two-third salience of managed portfolio, said CEO Anil Chadha. "There is a growing guest preference for diverse and conscious tourism offerings. Riding on a strong demand wave, India is set to witness an increase in hotel inventory across brands," he added.
As per HVS Anarock research, over 47,000 branded rooms were signed during calendar year 2024, and more than 13,800 keys became operational. As of December 2024, India had a pipeline of over 100,000 keys scheduled to open by 2030, pointing to accelerating momentum. "If this pace continues, India's total branded inventory could rise to over 300,000 keys by 2030, helping bridge the growing demand-supply gap. This period marks one of the most aggressive but sustainable growth phases for many operators in India, reflecting the sector's confidence in the country's long-term hospitality potential," said Mandeep Lamba, president and CEO, HVS Anarock.
The pace at which hotels have been signed and opened in the past two years is quite substantial, and there is potential in the market for a lot more expansion, said Vijay Thacker, MD of consulting firm Horwath HTL India. "In reality, hotels comprise the critical infrastructure needed for economic growth. Expansion of airlines, delegation visits, business and MICE travel will drive the demand for more hotel rooms," he said.
"Let's recognise that different targets and estimates are set for domestic and international tourism, and if any of that has to be achieved, we will need a lot more inventory," he added.
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