Branded hotels see room for growth at religious spots
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With a shift in traveller profiles and rising demand for good quality accommodation, branded hotel chains are increasingly recognising the potential and expanding their presence in this segment, said Mandeep S Lamba, president and chief executive (South Asia) at hospitality advisory services provider HVS Anarock.
«As of early 2024, there were approximately 5,700 branded hotel keys across major religious destinations, with an additional 4,700 keys expected to be added over the next four to five years,» he said.
«Notably, in the calendar year 2024 alone, of the over 45,000 branded keys signed, nearly 18% were in religious destinations, taking the total pipeline for these locations to a significantly higher number,» he added. In an interview with ET this week, Indian Hotels Company managing director and CEO Puneet Chhatwal said the chain is ramping up its focus on spiritual and religious destinations through a «multi brand strategy», with plans to open 2,800 rooms across brands in locations such as Ayodhya, Hampi, Vrindavan, Ujjain, Prayagraj as well as Makkah in the next three to five years.
Nikhil Sharma, MD and area senior vice president, South Asia at the Radisson Hotel Group, said the chain is doubling down in Varanasi, Katra, Amritsar and Nasik given the demand in these markets and would be opening new hotels in Ujjain, Prayagraj, Guruvayur and Puri, adding more than 1,000 rooms.
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