The hospitality industry is a 3.5 trillion dollar service sector within the global economy .
Expected to grow at the rate of 8% between 2008 and 2016.
Many international hotel brands including Sheraton, Hyatt, Radisson, Meridien, Four Seasons Regent, and Marriott International are already established in the Indian markets and are still expanding.
Nowadays the travel and tourism industry is also included in hospitality sector
The boom in travel and tourism has led to the further development of hospitality industry.
SWOT ANALYSIS 1. Rising Income 2. Open sky benefits 1. Fluctuations in international tourist arrival 2. Increasing Competition 1. Poor Support infrastructure 2. Slow implementation 3. Susceptible to political events 1. Natural & Cultural diversity 2. Demand-Supply Gap 3. Government Support 4. Increase in the market share STRENGTHS WEAKNESSES OPPORTUNITIES THREATS
They’re usually preferred by domestic travelers seeking economical accommodation.
These are reasonably priced, offer limited luxury, seasonal discounts and decent services.
Increased demand and healthy occupancy has fueled the growth of budget hotels in a short time.
Some new entrants in this segment include UK’s Dawnay Day and Whitbread Premier Travel Inn, Shangri-la, Country inns and suites, Courtyard by Marriott, Hometel by Sarovar, Kamfotel by Kamat and ‘United 21’ by Panoramic Universal Ltd.