According to Technavio Research, the global hospitality real estate market size is estimated to grow at a CAGR of 10.25 percent from 2022 to 2027. Another report from Mordor Intelligence says that the hospitality industry market in India, which is estimated at $247.31 billion in 2024, is expected to reach $475.37 billion by 2029, growing at a CAGR of 13.96 percent during the forecast period (2024-2029). The industry bets huge on travel experience, especially with the advantage of technology.

Indeed, the global Smart Hospitality market, driven by the need to create unique hospitality experiences, is predicted to grow from $13.6 billion in 2022 to $49.9 billion by 2027 (report by ResearchAndMarkets.com) at a whopping CAGR of 29.8 percent.

It’s quite clear that travelers worldwide are looking for wellbeing-oriented and immersive experiences. This drives a massive surge in leisure travel within the domestic market and the inbound international travel landscape. Even corporate travel and MICE are being extended to incorporate elements of leisure experiences. Lend your ears to Sunjae Sharma, Managing Director, India & Southwest Asia, Hyatt India Consultancy He elucidates, “The human desire to reconnect with loved ones and experience the joy of traveling together to newer destinations has never been so intense. This is reflected in the growing demand for staycations, workcations, and weekend getaways.” It’s a great time to be in the hospitality industry. This yearly special issue is dedicated to the leaders who thrive in India's hospitality ecosystem. Do let us know your thoughts.