India Daily: International Hotel Brands Dig Into Luxury to Attract a Growing Middle Class

Last week three international hotel chains announced the debut of their luxury brands in India. Hilton’s Waldorf Astoria and Minor Hotels’ Anantara brand are set to make their India debut in Jaipur, while Radisson has picked Hyderabad for the launch of its Radisson Collection brand. Marriott International CEO Anthony Capuano said last week that the hotel group has a lot of room for growth in the luxury segment in India. Speaking at the Hotel Investment Conference — South Asia in Bengaluru last week, Capuano said Marriott is still in the early stages of developing its luxury industry portfolio in India and will continue to concentrate in this area in the future.

Fairmont Hotels & Resorts also announced last week that it would be opening a property in Agra in 2025. Fairmont is gaining momentum in India, with four exciting new properties under development. "With Agra on the horizon, the brand will complete India's northern Golden Triangle, alongside Jaipur and Udaipur,” said Mark Willis, CEO of Fairmont Hotels & Resorts. 

Fueled by the increasing number of high-net-worth individuals and the rise of the middle class, luxury travel in India is a growing segment of the tourism industry. The number of millionaires in India are projected to grow from 796,000 in 2021 to 1.6 million by 2026, as per a Credit Suisse report. The number of ultra-rich grew 11 times in the last decade in India, making it third in the billionaire population globally after the U.S. and China in 2021, as per a Wealth Report by Knight Frank.

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