India’s outbound travel market is projected to grow over the next few years, especially within the high-spending segments. This growth makes it an ideal market for global hoteliers, who see Indian travelers as their top priority segment.
The recovery of Chinese outbound travel, which was slower due to the COVID-19 pandemic, will further support this segment.
Lindsey Ueberroth, the CEO of Preferred Hotels and Resorts, a firm representing luxury and high-end hotels worldwide, recently visited India to establish a partnership with Leela Palaces, Hotels and Resorts.
She highlighted the promising trend of the younger generation in India who, despite taking short trips, travel frequently and spend generously on hotels.
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The Indian market holds significant recognition, with Indian travelers ranking among the top 5 global markets in terms of the average daily rates they pay for accommodation in cities like Paris, London, and New York.
These rates are upwards of $500, or ₹41,000 per night. Considering this potential, global hotel chains are focusing more on the Indian traveler market in their marketing and sales strategies.
“Preferred Hotels and Rsorts” operates by partnering with independent luxury hotels around the world and generating revenue through their reservation channels and loyalty programs. Its portfolio includes 650 hotels, with an additional 350 under its Preferred Travel Group brand.
About half of the company’s revenue comes from corporate travel. The company also collaborates with conglomerates to offer negotiated rates, benefiting hotel owners while also attracting individual leisure travelers.
In addition, there is a rising focus on wellness travel. Beyond traditional spas, hotels are now also investing in holistic well-being programs for travelers.
