Industry analysts are expressing optimism regarding the Quick Service Restaurant (QSR) segment, the aviation industry, and the hospitality and hotel sector in India. This positive sentiment is attributed to not only the upcoming G20 Summit but also various other events, including the Cricket World Cup, the festive season, and upcoming weddings.
The easing of COVID-19 restrictions has led to increased travel for both leisure and business purposes, with hotel management companies planning expansions. Room rates are also expected to rise, potentially increasing from the current 10-15 percent to around 20 percent. Additionally, the upcoming G20 Summit is anticipated to support favorable room rates and tariffs.
The 2023 ICC Men’s Cricket World Cup, scheduled to be hosted in India from October 5 to November 19, is expected to benefit sectors such as travel, tourism, hotels, consumers, and QSR, with companies like Indian Hotels, Zomato, Jubilant Foodworks, Varun Beverages, and United Spirits seen as key beneficiaries.