印度住宿气压计行业市场前景及投资研究报告-培训课件外文版2024.5

Indian

AccommodationBarometer2023Table

ofContents01ExecutiveSummaryPg30203EconomicSituation

ChallengesandandInvestmentsOpportunitiesPg6Pg110405AppendixDigitalisationandSustainabilityPg16GovernmentPoliciesandSupportPg21OpportunitiesandChallenges(HotelsvsShort-StayAccommodations)Pg26Listof

SurveyQuestionsPg27MethodologyPg28Table

of

Contents2Indian

AccommodationBarometer2023Recoveryisreal01

ExecutiveSummaryRecoveryisrealFollowinginitialsignsof

revivalin2022,

travelandtourismcontinueontherecoverycourseinIndiain2023.

Despiteongoingchallenges,

Indianhoteliersare

excitedaboutthereturnof

internationaltouristsandare

embracingthedigitalandgreenrevolution.ModeratelystrongbusinessperformancepromptedbyHotelsfeelmoreupbeatthanshort-termrentals(STRs)andthedomestictravelenthusiasm.Despite

attitudesof

higher-starhotelsarepointsbehindtheformerinthoseself-assessments.

Asaresult,

thereisa6percentagepointdifferencebetweenhotelsandshort-termrentalsconcerningoverallbusinessdevelopmentinthelast6months(56%vs50%),

andan8percentagepointdifferenceregardingtheperceptionof

thecurrenteconomicsituation(50%vs42%).

Nevertheless,STRshaveapositiveoutlookforthefuture,

slightlymoresothanhotels(50%vs42%).thesluggishreturnof

inboundtravel,theIndiantravelandtourismindustryisonasolidrecoverycourseandexpectedtoexceed2019levelsin2023thankstothetravelenthusiasmof

domestictourists,

andthebusinessmorejauntythanthoseof

lower-starcounts.Despitetheoverallpositivebusinesssentiment,

notabledifferencescanbeobservedbetweenaccommodationtypes.sentimentisoptimistic.

Morethanhalf

Overthepast6months,

bothhotelsof

Indianaccommodationprovidersenjoyedpositiveorverypositivebusinessdevelopmentinthepast6months,

comparedtojust13%ofthosethatreportedtheopposite.

Asimilarsharealsosawincreasesorstrongincreasesintheiraveragedailyrateandoccupancyrate.

Thepictureismoresubduedwhenitcomestofinancing,

asjust2in5Indianhoteliersexperiencednodifficultyaccessingcapital,

and1in3reporteddifficultiesaccessingcapital.

Overall,Indianhoteliersarepositiveaboutthefutureof

theiraccommodationbusiness:45%of

thosesurveyedwerepositiveabouthowtheeconomicsituationof

theirbusinesswilldevelopinthenext6months,

comparedtojust16%whostatedtheopposite.andSTRsreportedoccupancyandroomratesincreases,

butthelattercameinat5and6percentageMore

thanhalfof

Indianaccommodationprovidersenjoyedpositiveorverypositivebusinessdevelopmentinthepast6monthsTable

of

Contents3Indian

AccommodationBarometer2023ExecutiveSummarygreportedthistobethebiggestbusinessopportunityforthenext6months.

Attractingfamilies(78%),offeringlocalexperiences(72%),andattractingmoredomestictravellers(72%)aretheotherleadingopportunitiesIndianhoteliersfeelexcitedabout.

ComparedtoSTRs(61%),

hotels(71%)seemedtoseegreateropportunitiesinthegrowingtrendof

longerstays.88%of

Indianhoteliersreportedattractinginternationaltravellersasoneof

thebiggestopportunitiesfortheirfuturebusinessEmbracingthedigitalandgreentransformation.

Indianhoteliers’positivebusinesssentimenttranslatesintotheirwillingnesstoinvestinareasthatcanhelpbetterpreparetheirbusinessforthefuture,

namelydigitalandgreentransformation.

Morethantwo-thirdsof

hoteliersplannedtoinvestmoreoraboutthesameindigitaltransformationaswellasinsustainabilityanddecarbonisation.Understandably,

thosewithbetterbusinessperformancefeelmoreencouragedandareinabetterpositiontomakesuchinvestments:half

of

hoteliersreportingagoodorverygoodeconomicsituationshowedwillingnesstoinvestmoreindigitalandgreentransformation,

whereasthree-quartersof

hotelsthatareinapoororverypooreconomicsituationwoulddotheopposite.Asrevealedinthesurvey,

amuchbiggerperformancedistinguisherishotels’starclassification.

Higher-starhotels,

especially4-or5-starhotels,performedsignificantlybetterthantheirlower-starpeers.

Especiallyregardingpastperformancesuchasoverallbusinessdevelopmentanddevelopmentsof

occupancyrates,

4-or5-starhotels’leadagainstlower-starhotelsreachedalmost20percentagepoints.

Theyalsohaveamarkedlybetterfutureoutlook,withmorethanhalf

of

4-or5-starhotelsexpectingfuturebusinessdevelopmenttobepositiveorverypositive,

whereasonlyaroundathirdof

theirlower-starpeersthoughttheEnergycostsandtaxationaretopchallenges.

Againstthebackgroundof

theglobalcostof

livingcrisisandhighenergyprices,

economicwoesareatthetopof

Indianhoteliers’minds.

Aroundthree-quartersofthemviewedenergycostsasachallenge,

andtaxationwasseenasamajorconcernbyasimilarshareofhoteliers.

STRsseemedtobemoreimpactedbyeconomicconcernscomparedtohotels.

Biggerhotelsexpressedslightlymoreconcernoverthecostof

staff,

andlower-starhotelsweremuchmoreworriedabouteconomicuncertainty.Thepathto

AIislong.

Asaquintessentiallyhuman-centricbusiness,

enthusiasmforartificialintelligence(AI)withinthetravelaccommodationsectorislow,especiallyinIndia,

whereamere3%reportedalreadyusingthetechnology.

Althoughaquartershowedawillingnesstoadopt

AIinEagerlyawaitinginboundtraveltosame.

Luxuryhotelsareemergingasa

returntonormal,

Indianhoteliersclearwinnerof

India’s

travelreboundthisyear.seeattractinginternationaltouristsasprovidingthemostgrowthpotential:88%of

surveyrespondentsTable

of

Contents4Indian

AccommodationBarometer2023ExecutiveSummarythecomingmonths,

whichwouldsignificantlyincreasetheadoptionrate,

avast71%of

Indianhoteliersdidnotseeminterested.

Of

thoseinterestedin

AI,

chainhotelsaremuchmorelikelythanindependenthotels(8%vs2%)tohavealreadyutilisedAI,

whilesimilarshares(24%vs26%)haveitinthepipeline.Theseeminglydecreasedinterestin

AImighthaveitsrootinhoteliers’shiftingprioritiesvis-à-vistheprevious3yearswhengoingdigitalwasanecessity.

Beinginstinctivelywaryofplacingabotbetweenthemselvesandtheirguests,

accommodationsseemtoratherallocatetheirlimitedresourcesandmanagementattentiontootherleversthatcanhelpgrowtheirbusinessandassurelong-termsuccess.56%of

Indianhoteliersthoughtthat‘offeringtargeteddiscounts’wasthebestwaytomaximiseoccupancy,astrategycloselyfollowedby‘promotingonsocialmedia’at46%.Investmentsincomfortaswellasaestheticsof

theaccommodationswerealsohighonthelistof

priorities(43%and40%).

Butpay-per-clickdigitaladvertisingandpartneringwithbedbanksweren’tviewedasfavourably(20%and18%).

Ultimately,ashoteliersridethetravelrecoverywave,

theyhaveaccesstoawidesetof

investmentopportunitiesandadiversetoolboxof

technologicalsolutionswherefelt.

44%of

Indianhoteliersregardedgovernmentpoliciesasimportanttoliketoreceivemorefinancialsupportsuchasloansandsubsidiesfromthetheirbusinessdevelopment,

although

government.

Taxation

stoodoutasalmostathirdof

themstillfoundsuchpoliciesharmful.

Comparedtoindependenthotels,

chainsseemedmorescepticalof

governmentpolicies.havingthemostnegativeeffectwhenitcomestopoliciesthathurtbusiness,inlinewithitbeingthegreatestchallengefacedbyIndianhoteliers.AIisjustoneof

manydigitaltoolsavailable.Specifically,

Indianhoteliersfeeltheycouldbenefitthemostfrommoreinfrastructureinvestments,

betheyinpublictransportationorhigh-speedinternetaccess.

Hoteliers,

especiallyindependentproperties,

wouldalsoImportanceof

thegovernment’srole.Eventhoughgovernmentpoliciesarenolongerthesingulardeterminantof

thetourismindustrydirection,

theirimpactisstillkeenlyIndianhoteliersfeeltheycouldbenefitthemostfrommoregovernmentinfrastructureinvestmentsTheIndian

AccommodationBarometer.

Thisfirsteditionof

theIndian

AccommodationBarometerisbasedonasurveyof

250executivesandmanagersintheIndianaccommodationsector.

ItisjointlyproducedbyBandTable

of

Contents5Indian

AccommodationBarometer202302EconomicSituationandInvestmentsAstheIndiantourismindustryslowlyreturnstonormalfollowingtheimpactof

theCOVID-19pandemic,

Indianhoteliersare

alsofeelingmoreoptimisticaboutthefuture.

The

gradualreturnof

internationaltravellers,alongwiththeopportunitiespresentedbydigitalisationandinterestinsustainabletravel,

alsobolsterthismoreupbeatmood.

Nearlyhalfof

hoteliersstatedthattheyfeltpositiveabouttheircurrenteconomicdevelopmentandfutureprospects;andmorethanhalf

saidtheyenjoyedapositiveorverypositivedevelopmentoverthepastsixmonths.Table

of

Contents6Indian

AccommodationBarometer2023EconomicSituationandInvestmentsAccommodations’perceptionof

theireconomicdevelopment50%%50%PastdevelopmentCurrentstateFutureexpectations13%(Very)poor54%(Very)good13%(Very)poor48%(Very)good16%45%(Very)negative

(Very)positiveIntheworld’smostpopulousoneinfivereflectednegativelyonthedevelopmentof

theirbusiness:13%ratedtheirpastperformanceordecline,

itseemsasif

thetravelsectorhasfinallyturnedthecorner.Giventhattourismisoneof

India’scountry,

aself-assessmentof

Indianaccommodationproviders’perceivedeconomicdevelopmentrevealedadecidedlyoptimisticmoodamongaroundhalf

of

thehotelierssurveyed.

Morethan54%assessedtheirpastperformanceasgoodorverygood,

justunderhalf

(48%)evaluatedtheircurrentstateasgoodorverygood,

while45%saidtheyfeltpositiveorverypositiveaboutthefuture.

Incontrast,

fewerthancurrentstateaspoororverypoor,

and

fastest-growingindustries,

itsstrengthonly16%werenotoptimisticabouttheirfutureexpectations.couldbeseentobeindicativeofthegeneraleconomicoutlookof

thecountry.

Althoughtourismfiguresareapproaching2019levels,

uncertaintyaroundthemuchslowerreturnofChineseandRussiantourists,

whichnolongerfeatureinthecountry’stop10visitorlistcouldaffecttheindustry’srecoverywellinto2024.Followingthedevastatinghumanitarianandeconomicimpactof

thepandemicanditstoughlockdowns,

whichresultedinhighunemployment,

reducedregionalmobilityandcausedstrongeconomicAccommodations'perceptionof

businessdevelopmentinthelast6months(Strongly)decreased(Strongly)decreased(Very)difficultDevelopmentof

averagedailyrate(Strongly)increased14%49%Developmentof

occupancyrate15%(Strongly)increased55%AccesstofinancingandcapitalNotdifficult(atall)33%39%Investless(thanlast6months)InvestmentplansInvestmore(thanlast6months)30%33%Table

of

Contents7Indian

AccommodationBarometer2023EconomicSituationandInvestmentsIllustratingthisupwardtrend,

nearlyhalf

of

thehoteliers(49%)

reportedincreasesinroomrates,

andanTop

10sourcecountriesforforeigntouristarrivals(FTAs)

inIndia2019

2022evenhighernumber(55%)reportedincreasesinoccupancy.

Only14%saidthattheysawadropintheBangladesh

24%UnitedStates

14%UnitedKingdom

9%Australia

3%22%

UnitedStates20%

Bangladesh10%

UnitedKingdom6%

Australiaaveragedailyrateand15%saidtheyhadseenadecreaseintheoccupancyrate.

Meanwhile,

therewasaroughlyequalsplitbetweenthosebusinessownersstatingthataccesstofinancingandcapitalwasdifficult(33%)ornotdifficult(39%)andwhoseinvestmentplansweretoinvestless(30%)ormore(33%)thantheyhaddoneinthepast6months.Canada

3%4%

CanadaChina(Main)

3%Malaysia

3%3%

SriLanka2%

NepalSriLanka

3%2%

Germany1%

Singapore1%

MalaysiaGermany

2%RussianFederation

2%Source:MinistryofTourismHotelsandsimilaraccommodationsHolidayandothershort-stayaccommodations50%

56%Generaldevelopmentinthepast6months(Very)good46%

51%Developmentof

averagedailyrate(Strongly)increased52%

58%Developmentof

occupancyrate(Strongly)increased42%50%50%Currenteconomicsituation(Very)good39%AccesstofinancingandcapitalNotdifficult(atall)38%42%Economicsituationinthenext6months(Very)positiveTable

of

Contents8Indian

AccommodationBarometer2023EconomicSituationandInvestmentsIndependenthotelsChainbusiness53%57%58%Generaldevelopmentinthepast6months(Very)good47%Developmentof

averagedailyrate(Strongly)increased55%Developmentof

occupancyrate(Strongly)increased55%57%45%Currenteconomicsituation(Very)good34%

40%AccesstofinancingandcapitalNotdifficult(atall)34%33%InvestmentplansInvestmore(thanlast6months)44%

49%Economicsituationinthenext6months(Very)positiveWhiletheoverallpictureisapositiveone,

thedifferencesbetweenresponsesgivenbyof

hotelsabletosaythesamewas50%.

Thesefigureswereinvertedfortheparameterconcerningtheeconomicsituationinthenextsixmonths(50%forshort-termrentalsand42%forhotels).rate,

chainsandindependentsweretiedwith55%of

positiveresponses.

Thebiggestdifferencewasintheevaluationof

thecurrenteconomicsituation:

Justunderhalfof

independentbusinesses(45%)statedthattheirpositionwaspositive,orverypositive,

while57%of

chainhotelssaidthesame.hotelsandshort-termrental(STR)accommodation,

andbychainsandindependentbusinesses,

meritacloserlook.

Althoughhotelsandsimilaraccommodationshowedastrongerperformanceineveryothermetric,

moreholidayandshort-stayaccommodationproviderswereoptimisticabouttheirprospectsforthefuture.

Thebiggestdisparitywasbetweentheshareof

respondentsexperiencinggoodtoverygoodcurrentdevelopment:42%of

short-termrentalsevaluatedtheircurrentstatepositively,

whiletheproportionMeanwhile,

inacomparisonbetweenchainbusinessesandindependentaccommodations,

chainenterprisesoutperformedindependenthotelsineverymetricexceptforaccesstofinancingandcapital.

Here,

40%of

independentbusinessesstatedthataccesswasnotdifficult,

whilejustoveronethird(34%)of

chainbusinessessaidthesame.

Intermsof

thedevelopmentof

occupancy57%of

chainhotelsand45%of

independentbusinessessaidtheircurrenteconomicsituationwas(very)positiveTable

of

Contents9Indian

AccommodationBarometer2023EconomicSituationandInvestments1or2stars3stars50%4or5stars66%Intermsof

starrating,

therewasaclearcorrelationbetweenthenumberof

starsandtheproportionof

positiveresponsesgiven.

Thebiggestdisparitieswerebetweenthecurrenteconomicsituation,

whereonethird(34%)of

accommodationbusinesseswiththeloweststarratingsstatedthattheircurrentsituationwasgoodorverygood,versusnearlytwothirds(63%)ofbusinesseswithfourorfivestars.Therewasasimilargapintermsof

theresponsesfortheeconomicsituationoverthenextsixmonths:Twice

asmanybusinesseswithfourorfivestarshadapositiveoutlookthanthosewithoneortwostars(58%vs29%).

Luxuryhotelsareemergingasaclearwinnerof

India’s

travelreboundthisyear.Generaldevelopmentinthepast6months(Very)good49%49%49%34%29%20%29%Developmentofaveragedailyrate(Strongly)increased48%48%45%40%32%37%58%66%63%49%48%58%Developmentofoccupancyrate(Strongly)increasedCurrenteconomicsituation(Very)goodAccesstofinancingandcapitalNotdifficult(atall)InvestmentplansMorethaninthelast6monthsEconomicsituationinthenext6months(Very)positiveWhenitcomesto

consumerGuestbehaviordevelopment.

Consumersare…spendingtrends,

morethantwo-thirdsof

guests(67%)arebookingshorterstays,

closelyfollowedby66%whoarebookingfurtherinadvance.63%of

customersprefertobookcheaperroomsand60%optformorerestrictivecancellationpoliciestosavemoney.

Justoverhalf

(52%)oftherespondentsstatedthatguestsarespendinglessonextrasand42%avoidpeakseasonstays.63%Optingforcheaperrooms67%Bookingshorterstays66%Bookingmorefarinadvance52%Spendinglessonextras60%Optingformorerestrictivecancellationpolicies42%AvoidingpeakseasonTable

of

Contents10Indian

AccommodationBarometer202303ChallengesandOpportunitiesDespitebeingoneof

themajorremainingimportersof

Russianenergy,Indiahasnotescapedtheimpactof

theglobalenergypriceshocksbroughtaboutbyRussia’s

warinUkraineandthewidespreadcost-of-livingcrisis.

Taxation

isratedasthenextmostsignificantchallenge.Meanwhile,

thereturnof

internationaltravellersisseenasthebiggestopportunityforthereboundingtravelandtourismindustry.Table

of

Contents11Indian

AccommodationBarometer2023ChallengesandOpportunitiesChallengesAsisthecasewitheveryothercountry

othercost-relatedfactorssuchassmartphonepenetration,

whichwillseeIndianconsumersbecomethehighestdatausersintheworldby2028,

accordingtotheEricssonMobilityReport(June2023).

Logically,andasseeninmostothercountries,surveyedforthe

AccommodationBarometerin

APAC

andEurope,thecostof

energyiscurrentlyratedasthebiggestchallengeforaccommodationbusinessesinIndia,accountingfor74%of

responses.

Thisiscloselyfollowedbytaxation,

whichisaconcernfor73%of

thehoteliersinthesurvey.

Costof

staff

wasalsoratedhighlywith68%,

followedbyeconomicuncertainty(61%)andinvestments(60%).

Sustainabilitywasscoredasatopchallengeby58%of

respondents.

Meanwhile,digitalisationandconnection/accessibilitywereratedasachallenge

travelrestrictionsarenowoneof

thebyfewerhoteliers,

with43%and42%of

respondentsrespectively.

ThismightbeinfluencedbyIndia’s

fast-growing5Gnetworksandaffordablelowest-ratedchallenges,

yet2in5accommodationsstillfeltthiswasanongoingissue.Top

challenges(noworexpectedforthenext6months)Energycost74%Taxation73%Costof

staff68%EconomicuncertaintyInvestments61%60%58%SustainabilityCostof

inputsandservicesAccesstofinancing/capitalCompetitionfromotheraccommodationsConsumerexpectationsPrice

sensitivityof

customersRegulation56%56%53%52%51%50%48%48%47%46%45%44%43%42%40%Acquiring/retainingstaffDecarbonisationCompetitionfromotherdestinationsChangesinconsumerspendingbehaviourCustomeracquisitionShiftingconsumertrendsDigitalisationConnection/accessibilityTravel

restrictionsDeprioritisationof

travelexpenditure34%Table

of

Contents12Indian

AccommodationBarometer2023ChallengesandOpportunitiesOpportunitiesDomestictravelisgoingstrong,

butinboundhasyettorecover(visitorsin2023relativeto2019levels)Nowthatcoronaviruslockdownshavebecomeathingof

thepastandinternationalarrivalsareslowlyreturning,

Indianhoteliersarekeentocapitaliseonthisinternationalvisitorvacuumtogeneratemorebusiness.

Intermsof

generatingmorebusiness,

itisnosurprisethatthegreatestopportunitystatedbymosthoteliers(88%)wasattractingmoreinternationaltravellers.

Thiswasfollowedbyattractingfamilies(78%),

aswellasofferinglocalexperiencesandattractingmoredomestictravellers(eachwith72%).Attractingspiritualandreligioustourism,

traditionallyapowerfulfactorintheIndiantravelbusiness,accountedforjustundertwo-thirdsof

responses(64%).

Theuseofartificialintelligencescoredlowest,withjust45%of

responses.

AsaInternationalarrivalsDomestictravelAPAC

intotalChinaMalaysiaJapanNewZealandIndonesiaAustraliaThailandSouthKoreaPhilippinesIndiaVietnamTaiwanLaosSriLankaFijiCambodiaSingaporeMyanmarMacaoHongKong-80%-60%-40%-20%20%Source:

Tourism

EconomicsTop

opportunities(noworexpectedforthenext6months)AttractingmoreinternationaltravellersAttractingfamilies88%78%72%AttractingmoredomestictravellersOfferinglocalexperiences72%Longerstays68%Increasesocialmedia/onlinemarketingactivitiesAttractingreligioustourism64%64%62%61%61%60%60%59%58%56%Higherinterestinsustainableproducts&servicesUpgradeof

accommodationfacilitiesAttractingGenerationZtravellersIntegrationwiththelocalcommunityUpselling/sellingadditionalservicesTrend

tocombineworkandtravelHigherappreciationof

travelafterCOVIDIntegrationwiththelocalcommunitySeeappendixforacomparisonbetweenhotelsandshortstayaccommodationsUsageof

artificialintelligence45%Table

of

Contents13Indian

AccommodationBarometer2023ChallengesandOpportunitiesMosteffectivetools/investmentprioritiestomaximiseoccupancy(Multipleanswerspossible)20%Pay-per-clickdigitaladvertising40%Investmentinstafftraining33%Promotionontraditionalmedia56%Offeringtargeteddiscounts18%Partneringwithbedbanks43%Investmentsincomfort40%Listingondigitalplatforms29%Usingrevenue/channelmanagementsoftware22%Sellinginventorytowholesalers32%Investmentsinamenities46%40%Investmentsinstyle/aestheticsPromotiononsocialmedia/influencermarketinghuman-centricbusiness,

hoteliersseemmorereluctanttoplace

AIbetweenthemselvesandguests,especiallyfollowingalongperiodof

pandemic-relatedrestrictionsthatlimitedpersonalinteraction,

insteadpreferringtoprioritiseopportunitiesthatattracttravellersback.Food

anddrinkplayacentralroleinmostbusinesses’profitmargins,

with39%of

accommodationprovidersstatingthattheywereanimportantcontributorandjustoverone-quarter(27%)statedthattheymadeaminorcontribution.

Only5%saidthatofferingfoodanddrinkdecreasedprofitability.

16%of

businessesreportedthattheydonotofferfoodandbeveragesatall.Intermsof

toolstomaximiseoccupancy,

themajorityofresponsesfocusedonofferingtargeteddiscounts(56%),

followedbysocialmediapromotionsandinfluencermarketing(46%).

These2topresponseswerefollowedbyinvestmentsincomfort(43%)andinvestmentsinstyle/aesthetics,

listingondigitalplatforms,

andinvestmentsinstaff

training(all40%).

Sellingtowholesalersandpartneringwithbedbanksreceivedsomeof

thesmallestproportionsof

responsesat22%and18%respectively.Food

anddrink’scontributiontooverallbusinesssuccess16%We

don’tofferfoodanddrink5%Decreaseprofitability39%Animportantcontributor12%A

necessity,

butnotreallyacontributor27%A

minorcontributorPercentagetotalsmaydifferfrom100%duetoroundingTable

of

Contents14Indian

AccommodationBarometer2023ChallengesandOpportunitiesFood

anddrink’scontributiontooverallbusinesssuccessAnimportantcontributorA

minorcontributorA

necessity,

butnotreallyacontributorDecreaseprofitabilityWe

don’tofferfoodanddrinkHotelsandsimilaraccommodations46%32%15%

5%3%Holidayandothershort-stayaccommodations29%18%7%

5%42%Percentagetotalsmaydifferfrom100%duetoroundingAspectsof

foodanddrinkthatarebecomingmoreimportantforaccommodationbusiness(Strongly)disagree

(Strongly)agreePlastic-freepackagingoptionsforfoodanddrink14%54%Sustainably/regionallysourcedfoodoptions16%57%Vegan/vegetarianfoodoptions27%41%Inacomparisonof

hotelsandshort-termaccommodations,

hotelsweremostlikelytobenefitfromofferingfoodanddrink,

withjustunderInacountrywithoneof

thesourcedfoodoptions(57%)andhighestproportionsof

vegansandvegetariansintheworld,

41%ofaccommodationbusinessesfeltthatfeaturingveganand/orvegetarianplastic-freepackaging(54%)tookahigherpriority.

Thisseeminglylowerimportanceplacedonveganandvegetariancuisinecouldbeduetohalf

(46%)statingthattheymakeasignificantimpactonprofits,

whilejustunderone-thirdof

short-termrentals(29%)couldsaythesame.

Thiscategoryof

accommodationwasalsoleastlikelytoofferfoodanddrink,with42%notofferingamenuof

anykind.

Meanwhile,

only3%of

hotelsandsimilaraccommodationsdonotofferfoodanddrink.

Bothforhotelsandshort-termrentals,

only5%ofbusinessesstatedthatfoodanddrinkweredrainsontheirprofitability.foodontheirmenuisbecomingmore

thealreadylongassociationof

suchimportant.

AccordingtoStatista’sGlobalConsumerSurvey,

25%ofIndiansarevegetarians,

makingittheworld’slargestvegetarianpopulationandanessentialpartof

thecountry’scultureandreligiousbeliefs.optionswithIndiancuisine,

anditssignificancehaslikelyremainedmoreconstantthaninotherpartsoftheworld.

Meanwhile,

businesseswerelesslikelytodisagreethatsustainable/regionalfoodsandplastic-freepackagingwerebecomingmoreimportanttotheirbusiness,

withjust16%and14%ofresponsesrespectively.Yet

overaquarter(27%)disagreedwiththesentimentthatitisbecomingmoreimportantforbusinesses.Rather,

sustainably/regionallyTable

of

Contents15Indian

AccommodationBarometer2023Tr04DigitalisationandSustainabilityHugeinroadshavebeenmadeinIndiaregardingdigitalisationinrecentyearswiththeriseof

contactlesspaymentandbookingduetothepandemicandinitiativessuchastheDigitalIndiaprogrammeandIndiaStack,

bothof

whichhaveachievedwidespreadacceptance.

WhilenotashighasduringthedisruptiveCOVIDyears,

accommodationbusinessesare

maintainingasteadypaceof

investmentinthisarea.

Sustainabilityinvestmentsalsoaimtoremainthesame,

thoughenthusiasmforintegratingartificialintelligencetoolsisdeclining.