The hospitality industry in India has seen a complete makeover during the last decade clocking unprecedented growth with a CAGR of 12 per cent year-on-year and achieving a significant flow of foreign exchange into the industry. According to an estimate, the sector’s direct contribution to GDP accounts for US$ 44.2 billion in 2015 and expects to surpass US$60 billion in 2020.
Though several factors including growing consumer demands/needs, expanding economy and government policies can be attributed for its explosive growth, the one which does the behind the scene operation is undoubtedly the technological evolutions at the point of business transactions, which transformed the industry to met ever-changing consumer needs.
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