Concerts And Sports Events Boost India Hotel Industry Growth

International music concerts and marquee sporting events are fast becoming a key growth driver for India's hotel industry, as younger consumers increasingly prioritise live experiences over big-ticket shopping, hotel executives said.

From pop star Dua Lipa to rapper Ye, global artists are adding India to their tour calendars, filling hotel rooms just as corporate travel demand from IT services providers shows signs of cooling amid tighter spending, according to at least three executives.

"We are now in the economy of experiences," Alan Watts, president of Hilton's Asia Pacific business, told Reuters.

The effect has been hard to miss in host cities.

British rock band Coldplay's Ahmedabad show last year drew tens of thousands of fans, making the concert day the city's busiest for metro traffic and air arrivals and generating about $70 million in economic gains, industry data showed.

"Coldplay has changed the game by coming to India," said Vijay Dewan, managing director of Apeejay Surrendra Park Hotels. "Concerts are going to be very helpful in terms of improving occupancies."

The momentum is underpinned by a rapidly expanding live events industry. India's $5.69 billion event and exhibition market is forecast to grow to $9.04 billion by 2031, according to Mordor Intelligence.

Original News : World News | Reuters

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