India Luxury Hotel Market Size, Share, Demand, Report, and Forecast by 2032

India Luxury Hotel Market Overview 

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 9.60% (2024-2032)

Market Size in 2023: USD 2.5 Billion

Market Size in 2032: USD 5.73 Billion

The India luxury hotel market is expanding as more people travel, expect more upscale experiences, and have a larger budget. According to the latest report by IMARC Group, the market size reached USD 2.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 5.73 Billion by 2032, exhibiting a growth rate (CAGR) of 9.60% during 2024-2032.

India Luxury Hotel Market Trends and Drivers:

A combination of factors like rising disposable incomes, an expanding middle class, as well as a growing segment of high-net-worth individuals (HNWIs) are responsible for the growth of the India luxury travel market. Additionally, the market is propelling owing to the increasing aspirations for premium experiences, coupled with the influence of social media showcasing high-end travel lifestyles. 

Travelers are seeking exclusive destinations, five-star accommodations, and personalized services that offer a blend of comfort, privacy, and uniqueness. Moreover, government initiatives to promote tourism and enhance infrastructure, such as better air connectivity and luxury hotel developments, are further driving market expansion. Domestic luxury travel is also on the rise, with travelers exploring high-end wellness retreats, heritage resorts, and exclusive wildlife safaris across India.

A prominent trend in the India luxury travel market is the growing preference for experiential and sustainable tourism. Modern travelers prioritize curated experiences that combine luxury with cultural, adventure, or wellness elements, such as private heritage tours, tailor-made itineraries, and exclusive spa getaways. 

Sustainable tourism has gained momentum as travelers increasingly opt for eco-friendly accommodations, carbon-neutral travel options, and activities that support local communities. Technological advancements are also reshaping the market, with digital platforms offering seamless booking, virtual previews, and concierge services for personalized experiences. 

Furthermore, there is rising interest in unconventional travel modes, including luxury trains, private yachts, and bespoke cruise experiences, catering to the demand for unique and opulent journeys. An emphasis on personalization, exclusivity, and environmental consciousness is anticipated to drive the India luxury travel market in the coming years, offering diverse and sophisticated options to cater to evolving consumer preferences.

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India Luxury Hotel Market Industry Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

• Business Hotels

• Airport Hotels

• Suite Hotels

• Resorts

• Others

Breakup by Room Type:

• Luxury

• Upper-Upscale

• Upscale 

Breakup by Category:

• Chain

•  Independent Chain

Breakup by Region:

• North India

• West and Central India

• South India

• East and Northeast India

Competitive Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

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Key highlights of the Report:

• Market Performance (2018-2023)

• Market Outlook (2024-2032)

• COVID-19 Impact on the Market

• Porter’s Five Forces Analysis

• Strategic Recommendations

• Historical, Current and Future Market Trends

• Market Drivers and Success Factors

• SWOT Analysis

• Structure of the Market

• Value Chain Analysis

• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.

IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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