Tourism Hospitality 270111

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TOURISM AND HOSPITALITYNovember 2010


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Contents

Advantage India

Market overview

Industry Infrastructure

Investments

Policy and regulatory framework

Opportunities

Industry associations

TOURISM AND HOSPITALITY November 2010


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Advantage India

Advantage

India

Increased inbound

tourist arrivals

Foreign tourist arrivals (FTAs) in India have increased as India continues to be a favoured tourist destination for leisure, as well asbusiness travel. FTAs have increased at a CAGR of 8.1 per cent between 2004 and 2009.

Favourable

government

policies

The Government of India has introducedvarious initiatives and campaigns such asIncredible India!, Colors of India, AtithiDevo Bhavah and the WellnessCampaign to promote the Indiantourism and hospitality industry.

High demand

for quality

rooms

Increased medicaltourism

Indias well-equipped hospital infrastructure and the low cost of treatment, compared to developed countries, make it a

preferred destination for medical tourism, which is expected to grow at 29 per cent to reach US$ 2.4 billion by 2012.

Rising domestic

leisure travel

Increased

business travel

due to growingeconomy

Strong growth in the services

industry in the past few years

has led to increased corporate

spending on business travel.

Sources: Statistics, Ministry of Tourism (Government of India) website, http://tourism.gov.in, accessed 2 December 2010; Travel and tourism

economic impact: India, 2010, World Travel and Tourism Council website, www.wttc.org, accessed 2 December 2010; Medical tourism defies

decline in FTA: study Trade India website, http://smetimes.tradeindia.com/smetimes/news/indian-economy-news/2010/Apr/12/medical-tourism-defies-

decline-in-fta-study555117.html, accessed 23 September 2010, 2010, Trade India.

Increasing income and affordability

have increased domestic leisure

travel in the country.

Currently, the demand for

hotel rooms is about 240,000

rooms, while the current

supply of hotel rooms isaround 100,000.

Tourism and Hospitality November 2010

ADVANTAGE INDIA
http://tourism.gov.in/http://www.wttc.org/http://www.wttc.org/http://tourism.gov.in/


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Market overview

India is one of the fastest-growing travel andtourism markets in the world.

The demand for travel and tourism in India isexpected to increase at a compound annualgrowth rate (CAGR) of 11.8 per cent between2005 and 2010, to reach US$ 144.4 billion (INR

6,778.2 billion).

The demand for travel and tourism is expectedto reach US$ 431.7 billion (INR 24,252.4billion) by 2020.

The Indian hotel industry, being a directbeneficiary of the growth in the economy and

the tourism industry, has also recorded stronggrowth over the past few years.

Source: Travel and tourism economic impact: India, 2010, World Travel and Tourism Council website, www.wttc.org, accessed 2 December 2010.

E: Estimate; F: Forecast

MARKET OVERVIEW

Indian travel and tourism demand

US$billion

88.2 98.8

119.4142.4

124.3144.4

431.7

0

50

100

150

200

250

300

350

400

450

500

2005 2006 2007 2008 2009E 2010F 2020F

http://www.wttc.org/http://www.wttc.org/


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Growth drivers

Source: Tourism statistics at a glance, 2009, Ministry of Tourism (Government of India) website, http://tourism.gov.in/statistics/statE09.pdf,

accessed 2 December 2010; Statistics, Ministry of Tourism (Government of India) website, http://tourism.gov.in/statistics/Oct2010.pdf, accessed 2

December 2010.

Domestic tourism

has grown

Rising affordability and affinity for leisure travel are driving domestic tourism in India.

Domestic tourist visits in India were estimated at 650 million in 2009, a growth of 15.5 per centover the previous year.

India has emerged

as a popular

destination for

foreign tourists

International tourist arrivals in India have increased at a CAGR of 8.1 per cent between 2004 and2009 to reach 5.1 million. During the same period, foreign exchange earnings from tourismincreased by more than 13 per cent to reach US$ 11.4 billion.

In addition, between January and October 2010, international tourist arrivals were 4.3 million,

compared to 3.9 million during the same period in 2009, reflecting a y-o-y growth of 9.9 per cent.Between January and October 2010, foreign exchange earnings from tourism increased by 28.6 percent to US$ 11.2 billion.

Outbound travel is

becoming

increasingly

affordable

The increasing affluence of the Indian middle-class population and easy availability of attractive tourpackages have increased outbound leisure travel from India.

Globalisation is driving outbound business travel.

The number of Indian nationals on outbound tours increased from 6.2 million in 2004 to 11 million

in 2009.

Infrastructure

is being augmented

The Ministry of Tourism is upgrading infrastructure facilities at important tourist destinations,which has improved accessibility to these places.

Moreover, reduced airfares and better infrastructure (new airports in various cities) are expectedto improve connectivity between major cities in the country and create more demand for hotels.

MARKET OVERVIEW



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Key trends (1/2)

Serviced

apartments are

becoming popular

Driven by an increasing inflow of expatriates and travellers staying for long durations, the servicedapartment concept is gaining ground in India.

Some examples of serviced apartments in India include Taj Wellington Mews, Homestead ServicedApartments, Marriott Executive Apartments, Star City, Grand Hyatt Residences and Seasons.

Budget hotels have

witnessed strong

growth

Budget hotels have witnessed robust growth in India, driven by the growth in domestic travel.

Expansion of business activity to tier-II and tier-III cities has created demand for such hotels inthese locations.

Both domestic and international hotel chains have significant plans for this segment.

Niche segmentsare experiencing

growing demand

With India emerging as a preferred destination for medical treatment, medical tourism in thecountry is expected to grow at 29 per cent to reach US$ 2.4 billion by 2012.

Several hotel-cum-hospitals and medi-cities are being developed in the country.

With more than 70 national parks and 400 wildlife sanctuaries, other niche segments such as eco-tourism, wildlife tourism and adventure tourism are gaining popularity in India.

MARKET OVERVIEW

Sources: Medical tourism defies decline in FTA: study Trade India website, http://smetimes.tradeindia.com/smetimes/news/indian-economy-

news/2010/Apr/12/medical-tourism-defies-decline-in-fta-study555117.html, accessed 23 September 2010; Wildlife, Incredible India website,

www.incredibleindia.org, accessed 21 September.



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Key trends (2/2)

Source: Hotel Chains Carlson, Choice Take M&A Route To Expand In India, VC Circle website, http://www.vccircle.com, accessed 29 January 2010.

International

players are

strengthening their

presence in India

Several international players in the hospitality industry are expanding their presence in the country,driven by Indias fast-growing hospitality industry.

Previously, international players entered the country by establishing alliances with local hotel chainsor real estate players. However, recently, some global players have taken the inorganic route tostrengthen their presence in the country.

For instance, Carlson Hotels Worldwide increased its stake in RHW Hotel Management Services,owners of Radisson brand in India, while Choice Hotels International, Inc has announced plans toacquire the remaining 60 per cent stake in Choice Hospitality India Ltd.

Demand in smaller

cities is increasing

Business travel to smaller cities (such as Bhubaneswar, Pune, Jaipur, Mangalore and Kochi) hasincreased, with IT/ITeS companies expanding operations in these cities.

India has emerged as a popular tourist destination, and many smaller cities (Udaipur,Thiruvananthapuram and Kochi) are witnessing a greater influx of foreign tourists, resulting in anincreased demand for hotels in these cities.

MARKET OVERVIEW

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Key players (1/2)

The Indian Hotels Company Ltd (IHCL) is the largest player in the industry, while East India Hotels (EIH),ITC, Bharat Hotels, Asian Hotels and Hotel Leelaventure are among the other key players.

Several international players, including InterContinental, Marriott, Starwood and Accor have also enteredthe Indian hospitality space.

MARKET OVERVIEW



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Contents

Advantage India

Market overview


Investments


Opportunities




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Industry infrastructure

Sources: Statistics, Ministry of Tourism (Government of India) website, http://tourism.gov.in, accessed 21 September 2010; Hotel industry in

India to see addition of 15,600 rooms in 2010, HospitalitybizIndia.com website,http://www.hospitalitybizindia.com/detailNews.aspx?aid=7110&sid=1, accessed 29 January 2010.

E: Estimates

Over the years, demand-supply gap in the Indianhospitality industry has widened.

For instance, the demand for hotel roomsis about 240,000 rooms, while the currentsupply of hotel rooms is around 100,000.

This gap is expected to reduce in the future asseveral hotel projects are in the pipeline.

Over 15,600 rooms are expected to be added in2010 alone.

INDUSTRY INFRASTRUCTURE

Growth in the number of hotel rooms

95,087

110,687

85,000

90,000

95,000

100,000

105,000

110,000

115,000

2008 2010E

No

ofrooms

http://www.hospitalitybizindia.com/detailNews.aspx?aid=7110&sid=1http://www.hospitalitybizindia.com/detailNews.aspx?aid=7110&sid=1


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Contents

Advantage India

Market overview


Investments


Opportunities




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Both domestic and international players have planned large-scale investments in the hospitality industry.

Investment in travel and tourism in India is expected to reach US$ 34.7 billion in 2010 and US$ 109.3billion by 2020.

Some of the recent investment plans include:

Sources: Tata Group plans 50 Ginger hotels in India, Rediff Business website, http://business.rediff.com/report/2009/dec/14/tata-group-plans-50-

ginger-hotels-in-india.htm, accessed 25 January 2010; Carlson bets big on India, The Hindu website,

http://beta.thehindu.com/business/companies/article80951.ece, accessed 25 January 2010; Marriott plans to introduce mid-market brand Fairfield

Inn in India, HospitalitybizIndia.com, http://www.hospitalitybizindia.com/detailNews.aspx?aid=7221&sid=1, accessed 25 January 2010; Travel and

tourism economic impact: India, 2010, World Travel and Tourism Council website, www.wttc.org, accessed 21 September 2010.

Investments (1/2)

Company Planned investment Details

IHCL NAIHCL plans to construct 50 budget hotels under the

Ginger brand between 2009 and 2013.

EIH NAEIH plans to develop 750 additional hotel rooms under the

Trident brand in the next 2.5 years, starting 2010.

Carlson US$ 35 millionCarlson plans to increase its presence in India to 78 hotels

by 2012, from 28 in 2009.

Marriott NA Marriott plans to open 30 hotels in India by 2013.

ITC NA

ITC plans to construct 60 new hotel properties by 2013

2014. The company is likely to prefer investment in high-

end luxury hotels.

INVESTMENTS

http://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htmhttp://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htmhttp://beta.thehindu.com/business/companies/article80951.ecehttp://www.hospitalitybizindia.com/detailNews.aspx?aid=7221&sid=1http://www.hospitalitybizindia.com/detailNews.aspx?aid=7221&sid=1http://beta.thehindu.com/business/companies/article80951.ecehttp://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htmhttp://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htmhttp://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htmhttp://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htmhttp://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htmhttp://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htmhttp://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htmhttp://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htmhttp://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htmhttp://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htmhttp://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htmhttp://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htmhttp://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htmhttp://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htmhttp://business.rediff.com/report/2009/dec/14/tata-group-plans-50-ginger-hotels-in-india.htm


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Cumulative FDI inflows into the tourism andhospitality sector have been estimated at US$2,178.9 million between April 2000 andSeptember 2010.

The largest deal announced in the sector was thedivestiture of EIH Ltds stake in EIH Holdings LtdBritish Virgin Islands.

Reliance Industries Investment and Holding PvtLtd, a wholly owned subsidiary of RelianceIndustries Ltd, has acquired a 14.1 per cent stakein EIH Ltd.

Carlson, an international player, has announced

its acquisition of the majority stake in RHWHotel Management Services Ltd (RHW).

Investments (2/2)

Deal type No of deals Deal value (US$ million)

Inbound 7 6.3

Outbound 2 45.0

Domestic 28 258.8

INVESTMENTS

M&A scenario (from 1 January 2009 to 8 November 2010)

Sources: RIL acquires 14.1% stake in EIH for Rs 1,021 cr, Business Standard website, http://www.business-standard.com/india/news/ril-acquires-

141-stake-in-eih-for-rs-1021-cr/107037/on , accessed 23 September 2010.

http://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/onhttp://www.business-standard.com/india/news/ril-acquires-141-stake-in-eih-for-rs-1021-cr/107037/on


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Contents

Advantage India

Market overview


Investments


Opportunities




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Regulatory framework

The Indian hotel industry is required to comply with a number of regulations related to the preparationand sale of food and beverages, and various laws and regulations governing employee relationships.

Hotel owners and operators need to obtain multiple licences, permits and authorisations, including localland-use permits, building and zoning permits, environmental, health and safety permits and liquor licences.

Hotel classification

Hotels in India are broadly classified into two categoriesapproved and unapproved.

The Department of Tourism (DoT) grants approval and classifies hotels into seven categoriesheritagehotels, 5-star deluxe, 5-star, 4-star, 3-star, 2-star and 1-star.

The DoT reclassifies hotels every three years and provides reclassification to 5-star deluxe, 5-star and 4-star hotels. The state governments reclassify the 1-star, 2-star and 3-star hotels.

Source: Annual report, Ministry of Tourism (Government of India) website, http://tourism.gov.in, accessed 23 January 2010

POLICY AND REGULATORY FRAMEWORK

http://tourism.gov.in/http://tourism.gov.in/


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Contents

Advantage India

Market overview


Investments


Opportunities




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Opportunities (1/2)

OPPORTUNITIES

Investment in

smaller cities

Acquisitions,

strategic alliances

and partnerships

Source: Hotel chains Carlson, choice take M&A route to expand in India, Reuters website, http://in.reuters.com/article/idINIndia-

45420220100115, accessed 6 December 2010; Intercontinental chooses Amrapali as partner for six corporate hotels, The Economic Times

website, http://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-

hotels/articleshow/6922615.cms, accessed 6 December 2010.


Rising business and leisure travel to smaller cities such as Udaipur, Thiruvananthapuram,

Bhubaneswar, Pune, Kochi and Chandigarh, have increased demand for quality hotel rooms in these

cities.

Hospitality chains are expected to increase their presence in smaller cities to leverage this

opportunity. Further, they are likely to plan a suitable project mix (more budget/business hotels

compared to luxury hotels) for these cities.

For instance, Carlson has announced its plans to set-up mid-segment hotels in tier II and tier III cities.

International hospitality chains are expected to acquire local players to increase their presence in the

country.

For instance, in early 2010, Carlson increased its stake in RHW Hotel Management Services Ltd

(RHW) from 13% to 87%. RHW has been managing hotels under Carlosns brands since 1998.

Both domestic and international players are expected to form strategic alliances and partnerships

with regional players / developers to expand in the country, reduce risk and optimise resources.

For instance, InterContinental has tied with Amrapali Group to develop six hotels in India.
http://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cmshttp://economictimes.indiatimes.com/features/financial-times/Intercontinental-chooses-Amrapali-as-partner-for-six-corporate-hotels/articleshow/6922615.cms


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Opportunities (2/2)

OPPORTUNITIES

Diversification into

new segments

Increasing availabilityof cost-effective bed

& breakfast options


Many hospitality chains that were earlier focused only on the luxury segment are now diversifying into

new product segments, such as budget hotels and serviced apartments, in order to reduce risks.

IHCL has already launched budget hotels in India, while Accor has announced plans to

introduce its budget hotel brand, Formule 1, in the country.

Moreover, hotel chains are diversifying into niche segments such as medi-cities, wildlife lodges and

spas to establish additional revenue-generation streams. These segments also help hotel chains retain

customers and provide them with value-added services.

For instance, IHCL operates wildlife lodges under the brand Taj Safari , a JV between IHCL

and &Beyond, an Africa-based safari and ecotourism company

ITC-Welcomgroup and IHCL operate spas at some of their luxury properties.

The Ministry of Tourism has recently simplified the guidelines and amended some norms for bed &

breakfast units that operate in the country under the Incredible India bed & breakfast scheme in orderto encourage the growth of such establishments.

These units offer foreign and domestic tourists clean affordable homestay facilities.


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Contents

Advantage India

Market overview


Investments

Regulatory framework

Opportunities




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Federation of Hotel & Restaurant Associations of India (FHRAI)

B-82, 8th Floor, Himalaya House,

23, Kasturba Gandhi Marg,

New Delhi110001

Phone: 91-11- 40780780

Fax: 91-11- 40780777

Hotel Association of India (HAI)

B 212214

Som Dutt Chamber-I,

Bhikaji Cama Place,

New Delhi110 066

Phone: 91-11-2617 1110/14

Fax: 91-11-2617 1115

INDUSTRY ASSOCIATIONS



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Note

Wherever applicable, numbers in the report have been rounded off to their nearest whole number.

Conversion rate used: US$ 1= INR 48.

INDUSTRY ASSOCIATIONS



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Tourism Hospitality 270111