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VMPL
New Delhi [India], January 6: India's hospitality industry is set to significantly outperform global growth trends through the end of the decade--2030--supported by strong domestic travel demand, rising incomes, sustained investment in tourism infrastructure, the continued rise of bleisure and MICE tourism, and the country's unparalleled demographic and cultural diversity, which has historically been a powerful driver of travel, tourism, and hospitality consumption, says Anirudh Reddy, Director - Viceroy Hotels. Anirudh Reddy adds, "Hospitality sector recorded a strong recovery in FY 2024-25, delivering revenue growth of around 7-9%, alongside rising occupancies in premium and upper-upscale hotels, despite supply constraints in key urban markets. Looking ahead, India's hotel market revenues are expected to grow at a robust 15-17% CAGR through 2030, nearly double the projected global growth rate." Globally, the hospitality sector is entering a steady growth phase following a strong post-pandemic recovery. Travel and tourism are expected to contribute nearly US$15 trillion to global GDP by 2030, while the global hotel industry is projected to grow at a compound annual growth rate (CAGR) of approximately 8-9% between 2025 and 2030, according to estimates by the World Travel & Tourism Council. Domestic travel is forecast to reach nearly five billion trips annually by 2030. This expansion will be supported by rising disposable incomes, expanding middle-class consumption, enhanced air and road connectivity, and continued public and private investment in tourism infrastructure. Collectively, hospitality and tourism are expected to contribute over 40 trillion to India's GDP by the mid-2030s, as per projections from the India Brand Equity Foundation and the World Travel & Tourism Council. Reflecting confidence in these long-term sectoral fundamentals, Viceroy Hotels recently announced the acquisition of Marriott Executive Apartments Hyderabad, strengthening its presence in the premium and extended-stay hospitality segment. Revenue from Marriott Executive Apartments is expected to start flowing into the company from Q4, providing near-term earnings visibility alongside long-term growth potential. The acquisition agreement was signed in the presence of (from Left) Ravinder Reddy Kondareddy, SP Reddy, Anirudh Reddy Kondareddy, Amarender Reddy Bandaru. Viceroy Hotels has been looking ahead to expand its portfolio to 1,000 keys by 2030, supported by its existing portfolio of about 550 keys and the addition of approximately 200 keys through an upcoming greenfield project in Hyderabad. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same.)
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