Online searches for Ayodhya surged ahead of the Ram temple inauguration, surpassing popular destinations like Goa and Nainital, according to multiple booking and hotel companies.
OYO's chief merchant officer noted a 70% spike in Ayodhya bookings on New Year's Eve and plans to add 50 properties offering around 1,000 rooms before the temple's opening.
Major hotel chains like Taj, IHCL, Raddisson, and ITC are eyeing multiple properties in Ayodhya, catering to various price points, indicating a significant interest in the city's potential.
Land values in Ayodhya have tripled in three years, with locals either holding onto their properties or quoting high rates due to the absence of price benchmarks.
Development in Ayodhya is expected to continue for 2-3 years before reaching its full potential as a tourist hub, with estimates indicating a doubling of hotel rooms to meet demand.
Currently, Ayodhya has around 1,100-1,200 rooms in 25-50 hotels, but this is projected to double in the next three years to bridge the existing demand-supply gap.
Until the city matures as a tourist hotspot, most visitors are likely to plan day trips or stay in nearby cities, as highlighted by industry experts.
Revenue from religious tourism in India is expected to increase by 15% year-on-year in 2024, with 2022 revenues standing at Rs 1.35 lakh crore.