1. INTRODUCTION
India is renowned worldwide for its unparalleled hospitality,
deeply rooted in the cultural ethos of 'Atithi Devo
Bhava, which translates to "The guest is God". The
term 'hospitality' encompasses a range of services such as
accommodation, dining, wellness, recreational activities and the
like.
According to recent statistics1, the market size of
the hospitality industry in India is projected to be approximately
USD 24.61 billion by the end of 2024 and is anticipated to reach
USD 31.01 billion by 2029, growing at a CAGR of 4.73%. The food
service sector in particular, is expected to grow at a CAGR of 8.1%
during 2024-2028. While this sector did see a dent during the
COVID-19 pandemic, it has seen a remarkable spur in investments in
the last couple of years.
