Hospitality
@ZibiGroup
The hospitality industry includes companies and services focused on creating experiences for travelers and guests, including lodging, food and beverage, travel and tourism, and event planning. This industry is foundational to tourism and leisure, catering to both individual and corporate clients. Key segments include hotels, restaurants, resorts, and event venues, which together deliver a broad spectrum of experiences and services.
Market size:
The Indian hospitality market is expected to reach around INR 2.3 lakh crore in 2024, driven by the rise in domestic and international tourism, an increase in disposable incomes, and government initiatives to improve tourism infrastructure. This growth is also supported by the increasing demand across various sectors such as luxury hotels, budget accommodations, and service apartments
Challenges:
⦿ Labor Shortages:
⦿ Health and Safety Protocols
⦿ Rising Operational Costs
⦿ Changing Consumer Preferences