Restaurants gear up for brisk business this Christmas, New Year thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
The hospitality sector in India is optimistic about the potential for growth in the underserved market in 2024, despite challenges such as long-term funding accessibility, high GST rates, talent acquisition, and complex business processes. In 2023, listed hotel companies reported double-digit revenue growth due to domestic demand, recovery in foreign tourist arrivals, and large global events like India s G20 Presidency and men s cricket World Cup.
New Delhi, Dec 21 (PTI) Pandemic blues over, domestic travel unleashed and with global events like India's G20 Presidency and men's cricket World Cup turning up the volume in 2023, the hospitality sector will check into 2024 with optimism that it will be an unending party to tap the huge opportunity in an underserved market.
The rebound in the hospitality sector in India has resulted in longer dining times at fine-dine restaurants, with customers spending an additional hour on average at a table. The increase in dining time has reduced table cover turnover, prompting some businesses to introduce time slots for reservations. Restaurants have observed a shift in dining behavior, with two-course meals turning into four-course affairs, including drinks and after-meal coffee.
The rebound in the hospitality sector in India has resulted in longer dining times at fine-dine restaurants, with customers spending an additional hour on average at a table. The increase in dining time has reduced table cover turnover, prompting some businesses to introduce time slots for reservations. Restaurants have observed a shift in dining behavior, with two-course meals turning into four-course affairs, including drinks and after-meal coffee.