HospitalityBiz India
Hotels FoodService Operations Ministry Associations Equipment Editorial HR Technology Technology Advisory Board Community
Follow us on Facebook Follow us on Twitter instagram
    Home > NewsTrack
NEWSTRACK

Noesis presents homestay and villa stay sector report in India

Thursday, February 10, 2022, 18:35 Hrs  [IST]
HBI Staff | Hyderabad

Noesis, India’s leading hotel investment advisory firm presents ‘Home away from Home’ report that highlights the trend and opportunity in luxury rental and boutique homestay sector. According to the report the potential for luxury homestays in India is tremendous. While India’s travel market is projected to grow at 11% to 11.5% which has reached around a whopping of 48 billion dollars in 2020. India still needs to add 2.5 million rooms in the homestay segment as reflected by an increase in foreign tourists’ arrival in 2017 which was 16.81 million to 17.81 million in 2019.

 

Airbnb, Oyo, Vista rooms have already extended their services in this market segment. This paper also portrays few hospitality brands which have already extended their services in the homestay segment or are in the development stage and also the business model they work on and the requirement and check list to start a homestay or luxury and boutique rental.

 

This concept will help hospitality brands to diversify to expand their portfolios as well as help local population to monetise on their unused assets. This will also help fill in the gap of demand and supply as well as help brands to reach in remote areas where development of the area is slow. This is also a sustainable method of development as it will provide a source of income to many in the surrounding areas.

 

According to Airbnb India data, travellers are exploring new experiences when they travel. The flexible destinations featured on the Airbnb platform is also helping travellers explore and spotlight interesting places near and far. In addition, their data show a rising interest in unique accommodations. 

 

“Development of the organized luxury rental sector in India is pivotal for the growth of the economy especially in the underdeveloped and rural areas. This is an untapped industry with major potential and the early adapters will no doubt benefit greatly from it” says Nandivardhan Jain, CEO, Noesis Capital Advisors.

 

The worldwide luxury travel market was worth $945.6 billion in 2019 and is predicted to increase at a CAGR of 11.1 percent between 2021 and 2027, reaching $1,198.3 billion in 2027. Luxury travel services provide the most desired and premium experience in terms of opulent lodgings, easy transportation, and unique travel experiences. The service providers strive to give exceptional services to their customers. The luxury travel business has emerged as one of the fastest expanding industries, greatly contributing to global economic growth and development. 

 
Print News Email News Back
Bookmark to Add to NewsvineNewsvine Bookmark with del.icio.usdel.icio.us Digg ItDigg
Add RSS to Add to Google Add to My Yahoo! Subscribe with Bloglines Subscribe
 POST A COMMENT
* Name :    
* Email :    
* Message :  
   
RELATED NEWS
»  Club Mahindra launches five new resorts in India
»  OYO halves stay prices for small businesses to mark World MSME Day
»  Japan’s Ise Foods Launches High-quality Egg Sales in India
»  Moët Hennessy India in collaboration with The Soul Company & Dram Attic brings Hanky Panky
»  Alain Ducasse, founder of École Ducasse visits India to inaugurate the first École Ducasse campus in the country
»  KFC India Sahyog Extends Support to local food businesses in Kolkata
»  Otis’ Made to Move Communities Global Challenge recognizes students representing Otis India for their innovative mobility solution
»  RateGain’s PULSE report for May shows No Impact of Global Inflation on Travel Demand
»  Aubrei Elite brings highly acclaimed Butler Training Program to India
»  Sattvik Council of India to expand operations in Gujarat
»  My Tirth India partnered with over 800 hotels and transporters in India
»  Accor India appoints Vineet Mishra as Cluster General Manager
»  Gloria Jean’s Coffee Re-enters India with its first outlet in Bangalore
»  Mercure Chennai Sriperumbudur presents an culinary journey through Chettinadu Street Food Festival from 7th to 18th June 2022
»  Accor ramps up community support initiatives in India
»  Jacob's Creek introduces UNVINED, Pernod Ricard India forays into the non-alcoholic wine category
»  HAI welcomes Rajasthan Govt’s move to accord ‘Industry Status’ to Tourism & Hospitality sector
»  Pizza Pro, Ooni pizza oven distributors for India, opens its first flagship store in New Delhi
»  We expect to be a top 3 pizza brand in India by 2025: Mahesh Reddy, CEO India, GOPIZZA
»  Advani Hotels and Resorts (India) Limited reports audited financial results for Financial Year 2021-2022
 
CoverStory
Analysis
 
  The Indian Institute of Architects (IIA) Natcon 2020 virtual event concludes successfully
  Winners of The Park Elle Décor Student Contest felicitated at Indian Design ID 2020
 
weekly
Receive the best of Hospitality content in your mailbox.
Weekly e-Newsletter
Events Calendar




Events
 
 
people
interview
newappoint
expert
© Copyright 2016 Saffron Synergies Pvt Ltd
HOME   |   ABOUT US   |   CONTACT US   |   FEEDBACK   |   DISCLAIMER   |   SITE MAP   |   ARCHIVES