Anuj Puri, Chairman – ANAROCK Property Consultants
- New-age technology and data-driven concepts have significantly influenced asset management in the hotel sector today
- Luxury hotel guests expect an international experience wherever they go and country-specific limitations are not accepted
Rising disposable incomes at the hands of the middle class, an increasing number of multi-millionaires and the growing quest to travel have given a major boost to the tourism and hospitality sector in India.
Over the last decade, this sector has accounted for nearly 7.5% of the country’s GDP. It is estimated that the Indian hospitality sector is likely to witness high double-digit annual growth by 2022.
The sector is a major direct and indirect employment generator, attracts massive FDI inflows and is the most important net foreign exchange earner for the country.
Considering its potential, the Government must necessarily incentivize investment into the hospitality sector by lowering the taxes on its development and giving it industry status.
Since it relies on a host of other sectors such as transportation,