This report highlights the key trends in the Indian hospitality industry in 2023 along with the sector performance metrics, brand signings, and brand openings during the year. It also provides our outlook for the sector for 2024.
Executive Summary
The year 2023 marked a crucial turning point for the global travel and tourism industry, as it continued its recovery while navigating challenges. Amid extreme climate changes, escalating geopolitical tensions, growing economic headwinds, and rising travel costs, the global travel industry shifted gears making vigorous strides towards pre-pandemic levels, as more and more people traveled for business, education, and leisure activities.
In this global narrative of resurgence, India stood out not just as a participant but as a beacon of growth and optimism. Buoyed…
