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The hospitality sector seeing 339.3% revenue spike in 2022 quarter: why now is the perfect time to study hotel management

What could be the reason behind this astounding revenue growth in the Indian hospitality sector? Many believe that it is due to the rise in foreign tourist arrivals. India has been making efforts to improve its image as a tourist destination and these efforts are paying off. In addition, Indians themselves are also traveling more within their country, thanks to an increase in income levels and improving infrastructure. Whatever the reason may be, one thing is for sure – there is a lot of money to be made in the Indian hospitality sector! Are you thinking of starting or expanding your business in this sector? Stay tuned!

In this blog, we will be sharing the information you need to know about this rapidly growing industry and how IIHM will help you to get success in Hospitality Sector.

In Q2 (April to June) 2022, the Indian hospitality industry experienced significant growth, which was mostly fueled by demand for weddings and other special occasions as well as a remarkable turnaround in business travel. In Q2 2021, the nation was dealing with the second wave of the pandemic, which had a big effect on how well the hospitality industry performed. As a result, Revenue Per Available Room (RevPAR) increased exponentially in Q2 2022 over Q2 2021 by 339.3% year-over-year (YoY). According to JLL’s Hotel Momentum India (HMI) Q2, 2022, the industry also had a remarkable 44.6% gain in RevPAR at a pan-Indian level compared to Q1 2022, when the industry was still recovering from the third wave of the pandemic.

Meetings, incentives, conferences, exhibitions (MICE), weddings, and business travel were the main drivers of the sector’s demand during Q2 2022. Additionally, corporate off-sites, team meetings, training, and soon all contributed to a revival in the market for MICE in the business sector.

Domestic leisure remained a significant market at this time, fueled by travelers’ pent-up demand after going without a summer vacation for the previous two years.
On the strength of domestic leisure during long weekends and festivals, the upcoming two quarters are anticipated to stay active. Business travel will keep expanding and be the key demand generator for the industry. While demand for social events like weddings will remain a key driver. With numerous business meetings and large format conferences scheduled, MICE demand is anticipated to increase in the upcoming months.

In total, 47 hotels with 4,010 keys were signed in the second quarter of 2022. Compared to Q22021, there was a substantial increase in hotel signings of 90.9%. In terms of inventory volume, domestic operators outnumbered foreign operators 52:48 in signings.

Due to the low base seen during the second wave of the pandemic last year and the spectacular performance of the sector this year, all six main markets experienced an exponential rise in RevPAR levels in Q2 2022 as compared to Q2 2021.Bengaluru, with a growth of 660.1% over Q2 2021, took the lead in RevPAR increase in Q2 2022, followed by Hyderabad and Goa with y-o-y growths of 564.5% and 326%, respectively.

The second quarter of 2022 will see a resurgence in investor interest and shareholder profitability in the hotel industry thanks to exponential growth across all performance parameters in both business and leisure destinations. Summer vacations gave the overall demand, which continued to increase together with business travel and corporate off-sites, a further boost, reviving trust in the industry. According to Jaideep Dang, Managing Director, Hotels & Hospitality Group, South Asia, JLL, “We expect this momentum to continue over the next few quarters on the basis of long weekends, festivals, weddings, events, and business travel equally contributing to this growth story.”

How IIHM will help you to get success in Hospitality Sector

Hospitality is one of the most important industries in the world. It is a sector that employs millions of people and generates billions of dollars in revenue each year. The hospitality industry is also one of the most competitive, with new businesses opening up all the time. To be successful in this sector, you need to have the right skills and qualifications. That’s where IIHM comes in. IIHM is a leading hospitality management school that offers a range of programs to help you get ahead in this rapidly growing industry. From certification courses to professional development programs, IIHM has the resources you need to succeed in the hospitality sector.

The International Institute of Hotel Management (IIHM) is one of the leading hospitality education providers in the world. The institute offers a wide range of programs that cater to every need of the hospitality industry. From diploma and certificate programs to undergraduate and postgraduate programs, IIHM has something for everyone. One of the main reasons for the institute’s success is its industry-oriented approach. Every program at IIHM is designed to give students the skills and knowledge that they need to succeed in the hospitality industry. In addition, IIHM has a strong network of industry partners that provides students with ample opportunities for internships and placements. As a result, students who graduate from IIHM are highly sought-after by employers. If you are looking for top-quality hospitality education, IIHM is the institute for you.

The IIHM eCHAT is an online test that assesses a student’s English, Logical Reasoning, and Quantitative skills. The test is designed to help students who wish to study at the Indian Institutes of Hospitality Management (IIHMs) to gauge their readiness for the programs offered by the institute. The test is divided into three sections, and each section has a different weightage in the final score. The English section tests a student’s grammar, vocabulary, and reading skills. The Logical Reasoning section assesses a student’s ability to identify patterns and solve problems. The Quantitative section tests a student’s mathematical skills. IIHM eCHAT is a computer-based test, and it is offered in both English and Hindi.

Register for the Exam here:- https://echat.elink.in/

Final Verdict

The Indian hospitality sector is booming a lot and it is expected to grow even more in the coming years. IIHM has been contributing to this growth by providing quality education and training to students. We hope to continue our work and contribute even more to the development of the hospitality industry in India. Are you looking for a career in hotel management? If so, please consider studying at IIHM. We offer world-class education and training that will help you succeed in this exciting industry.

Visit our website: https://www.iihm.ac.in/kolkata-campus/

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AN AFTER TASTE THEY TREASURE FOR LIFE

"I am currently working at Novotel, Ahmedabad formerly workeday The Park Hyatt, Hyderabad. I've also worked at Zee Cine Awards. In the industry I am glad, I learned from the best IIHM. It taught me all disciplines, all the values and what hospitality is all about. Whatever I doing and will be doing always be related to IIHM & all the faculties."

Rahul Mehta – Sales and Marketing
Novotel , Ahmedabad

"I love my entire career to IIHM. IIHM inculcated Discipline,Relationship building & Team Management Skill. Without 3 assets of the service industry I would not be where I am without IIHM. Thank you IIHM."

Santanu Ghosh – Sr. Director
JLL

"IIHM made me realize my passion for cooking. Thank to all faculty members for lighting up the desire in me. IIHM enable me to secure a job in Australia which helped boost my career."

Bernard Lee – Sous Chef
QT Hotels & Resorts, Canberra, Australia

"I could not have been more fortunate and IIHM is always going to be a very very important part of my life and it is all thanks to them that I am here."

Somya Mishra – Event Co-ordinator
JW Marriott Hotel Kolkata

"Post my pass out I joined Oberoi and I moved to Marriot. Over here I am working as a Housekeeping Executive and as far IIHM concerned its the college where from the very first day the faculty, the director they make sure that you are groomed in such a way that you are ready by competition of 3 years, you are ready to work with hotels "

Mr. Sumanta – (Housekeeping Executive)
JW Marriott Hotel Kolkata

"Started my career with Raheja Group of Hotels, worked 10 years in the Taj group of hotels, now working in Fort Jadhavgargh. IIHM is a very good college whatever I am today to become something. To become something you need to have a base what I have got from my college. What I have learnt at IIHM is helping me today."

Biswajit Biswas – (General Manager)
Fort Jadhavgargh

"IIHM has been a wondrous platform for me for achieve my goals. Along with the constant support of my faculty. Wishing IIHM all the success."

ASHITA SARAF
Marriot Marquis Miami, USA

"I was a student of IIHM in 2011-2014 Batch & specialized in F&B Service. It is a glorious brand I'd say because it is recognised globally and everyone knows what IIHM stands for, its fun and its learning mashed up together. I wish the faculties,the alumnies & the students of IIHM a beautiful & glorious success. "

CHIRAG PRAKASH ARORA – Learning Officer
Hyatt Regency , Kolkata

"Forever thankful to IIHM for what I am today. I would love to take this opportunity to thank the entire team of IIHM for the grand success and the mark that they made last 26 years."

ESHA GHOSH – Associate Director (Event Sales)
Hyatt Regency , Kolkata

"I am Hovaz and I come from Iran. I wanted to study in IIHM Hotel School in India and therefore I came to Kolkata. IIHM is renowned as an institute that prepares students to succeed in International Hotels, and that is what I look forward to. I am in the 2013 -2016 batch and now I am studying in the Final Year Thanks to IIHM."

HOVAZ DILANCHIAN – Cook
Omni Amelia Island Plantation Resort , United States

"With a brilliant academic success behind herself, She graduated with a gold medal from IIHM. But, She had shown more entrepreneurial skills throughout the tenure of her education in IIHM than in other areas of engagements. Immediately after her education she started her own restaurant by the name The Wise Owl which has already become famous in the locality."

SIDDHIKA GHOSH – Managing Partner & Owner
The Wise Owl Steakhouse , Kolkata

"I graduated in Hospitality Management from IIHM in the year 1999. That I studied at IIHM was my advantage. After graduation I joined the kitchen. But my fundamentals were very strong and quickly rose through the ranks and today I am the Executive Sous Chef in International The Lalit, Delhi."

PRADIPTA SINHA – Executive Sous Chef
International The Lalit, Delhi

"With the help of IIHM I Graduated in hospility management and came to USA on Internship. After completing my Internship, I completed my masters in hospility management from Columbia University. I want to thank my teachers at IIHM and my colleagues who helped me to nurture my dreams in my college."

Dayapal – Food & Beverage Manager
Park Hyatt, Washington DC

"The three years that I spent at IIHM were a big transitional stage in my life. It helped me prepare myself to work with great confidence. The assignments with challenging"

AMIT DASH – Executive Chef
Hotel Westin , Pune

"I could not have felt more at home in a place so different from Armenia. I love every moment I spend at the IIHM Hotel School whether it is cooking up an Indian meal in the kitchen or supervising over a Food and Beverage Festival in one of the city’s favourite event management venue. There are always new skills to develop, people to meet and experiences to encounter that will help me to succeed in my future. I am also the Captain of IIHM Rugby Team. "

SEVAK
IIHM , Kolkata

"Life certainly does surprise you with its unexpected turns. I never knew that three years of long journey with IIHM would lead me to the dream hotels of many, Marriott. I cannot thank IIHM enough, along with everyone for their consistent support. And I certainly hope to continue making my IIHM proud."

SOHEE LIM
Marriott

"I am Hovaz and I come from Iran. I wanted to study in IIHM Hotel School in India and therefore I came to Kolkata. IIHM is renowned as an institute that prepares students to succeed in International Hotels, and that is what I look forward to. I am in the 2013 -2016 batch and now I am studying in the Final Year Thanks to IIHM."

HOVAZ DILANCHIAN – Cook
Omni Amelia Island Plantation Resort , United States

"It is the finer aspects of training & transparency that keep our talents intact. We at Siyaji believe the company is only as good as its people. Hence we are proud to have maximum leaders from within. This has resulted in the growth of our culture, talent & organization. "

Kunal Katoch – VP Operations
Sayaji Hotels Limited
AN AFTER TASTE THEY TREASURE FOR LIFE
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