Hotel industry triggering growth of wood-work market
Wood-work industry in the country is witnessing a boom, thanks to the growth in the hospitality sector, with national and interational hotel groups vying hard to ensure global standards.
By PTI |
BANGALORE: Wood-work industry in the country is witnessing a boom, thanks to the growth in the hospitality sector, with national and interational hotel groups vying hard to ensure global standards.
The spurt in the number of hotels in the country had fuelled demand for wood-work. Nearly 35 per cent of the demand for wood-work came from this sector, said Pradeep Devaiah, Chairman and CEO, PDA Fairs and organiser of the India Wood Exhibition in Bangalore.
"It was not just demand for new furniture but also replacement market in the hotel industry which was very high", he told the media.
Unlike home segment, the wear and tear in the hospitality industry was quite high and replacement period was as short as two years, he said.
Nearly 20 per cent out of the 35 per cent demand was from the replacement market, he said.
In terms of demand for wood-work from the hotel industry, Delhi led, followed by Mumbai and Bangalore, Pradeep said.
The spurt in the number of hotels in the country had fuelled demand for wood-work. Nearly 35 per cent of the demand for wood-work came from this sector, said Pradeep Devaiah, Chairman and CEO, PDA Fairs and organiser of the India Wood Exhibition in Bangalore.
"It was not just demand for new furniture but also replacement market in the hotel industry which was very high", he told the media.
Unlike home segment, the wear and tear in the hospitality industry was quite high and replacement period was as short as two years, he said.
Nearly 20 per cent out of the 35 per cent demand was from the replacement market, he said.
In terms of demand for wood-work from the hotel industry, Delhi led, followed by Mumbai and Bangalore, Pradeep said.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
