Going by the double-digit growth of the travel industry, India is expected to have around 1,747 million travellers by 2021, which would require 1,88,500 additional hotel rooms, according to a recent study.
"Considering the way in which travel industry has grown in the past and factoring in the government's unassuming efforts towards growth in the sector, there will be around 1,747 million travellers and an additional requirement of 1,88,500 rooms," says a white-paper on `Hotel Room Supply, Capital Investment and Manpower Requirement by 2021'.
It predicts that by 2021, global travel industry would see 1,362 billion travellers, of which India is expected to account for 0.8 per cent.
The domestic travellers will grow at 8 per cent annually to 1,735 million by 2021. About room requirement, the report said India would need a total of 3,51,540 rooms by 2021.
Budget hotels will be the driving force because they usually have more rooms per hotel than a first-class or luxury hotel, can be built faster and cheaper in multiple micro-markets as well as in most tier I, tier II and tier III cities, it said.
The existing stock of hotel inventory is 1,63,038 rooms, it said, adding that the Indian average room inventory is less than 15 per cent of the average inventory of Asia Pacific and other global cities as reported by PTI.
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