In the previous two weeks alone, half a dozen resort firms, together with Tata Group-owned Indian Hotels Company and InterContinental Hotels Group, have introduced new growth plans and a flurry of brand launches to capitalize on the hovering demand for premium resort lodging.

“The rise of premium hotels in India reflects the economic progress of the nation and the evolving aspirations of the Indian traveler,” stated Jay Bhatia, vp of the Travel Agents Association of India. “Hotels, too, are innovating to cater to their desires, creating unique and upscale experiences that go beyond accommodation.”

Credit scores company ICRA famous that inexperienced shoots are rising for the resort sector with premium resort occupancy ranges anticipated to achieve a decade-high of 70-72%. Average room charges are anticipated round $74-$76 within the monetary 12 months 2024.

Approximately 15,000-16,000 rooms are anticipated to be added to the pan-India premium stock of about 95,000 rooms throughout 12 key cities, ICRA stated.

Global occasions, together with the Indian Premier League, G20 Summit, Cricket World Cup and demand from company and leisure journey will assist occupancies attain new highs.

“Post-Covid the draw of hygiene, safety and security are taking discerning holidaymakers to a premium hotel. On the demand side, bookings for upcoming travel in one of the most expensive tier of hotels are trending upward,” stated Rajiv Mehra, president of the Indian Association of Tour Operators.

Budget resort operator and aggregator Oyo additionally jumped on the premium bandwagon with the launch of its new model, Palette. 

“Over the years, there has been a noticeable shift in the preferences of modern travelers, particularly urban millennials. They now crave authentic and immersive experiences during their stays. We believe that now is the perfect opportunity to venture into this market and offer something unique to our guests,” stated Anuj Tejpal, chief service provider officer of Oyo Hotels and Homes on the launch of Palette.

The firm plans to have a complete of fifty Palette properties by the second quarter of 2024. Oyo additionally goals so as to add 1,800 new properties beneath its premium manufacturers resembling Townhouse Oak, Oyo Townhouse, Collection O and Capital O this 12 months.

Last 12 months, on-line journey firm MakeMyTrip launched its Luxe Selection, a thematic assortment of almost 300 super-premium and luxurious properties for its lodging enterprise. The firm famous strong recovery in premium and mid-premium segments as in comparison with its finances accommodations.

“With several weddings and corporate events being held at premium hotels, consumers taste the luxury of such accommodations and facilities. And they wouldn’t have it any other way when it comes to their personal trips,” added Ravi Gosain, vp of the Indian Association of Tour Operators. 

But what precisely places the premium accommodations at a candy spot?

EM Najeeb, president of the Confederation of Kerala Tourism Industry attributes that to a few driving forces — individuals missed journeys, social media is luring many to new locations, and the appearance of distant work is permitting professionals to stretch out holidays by working a couple of days from the seashore or the mountains. 

Photo Credit: Premium resort occupancy ranges are anticipated to achieve a decade-high of 70-72%.