The hotel company contributing the most to this figure was the British hotel chain InterContinental Hotels Group which, inmade 24 billion U.
By admin The years and were boom for the hotel industry in national capital region of Delhi.
The sector began the year on a strong note. Rising tourist inflow, higher occupancy and room rates continued to benefit the hotel players. In the first four months of the year, the tourist arrivals were higher by Existing hotel companies, new foreign players and real estate players continued with their expansion plans.
Prospects were looking good, until the sector faced terror attack in Mumbai and recession hit. The worst financial crisis in many decades, high oil prices and a slew of militant attacks hit the hotel industry. When the Indian tourism and hotel industry had just started gaining recognition worldwide, it was laid low by a double whammy.
During 1HFY09, lower corporate spending, fluctuating dollar and opening of credit crisis did impact occupancy rates in some cities like Bangalore, Pune, Hyderabad and Chennai. The room rates however, remained high.
While the actual number of tourist arrivals has increased, the YoY growth is on the lower side. According to the Ministry of Tourism, October saw an increase of just 1. This prompted the Indian government to ask hotels to slash their prices in the hope of keeping demand stable.
Though the room rates have officially increased, hotels are selling corporate travel packages at huge discounts to maintain occupancy levels. With hotel rates touching unreasonably high levels last year, a correction was nevertheless due.
Going forward was definitely a year to forget for the hotel industry and the government is taking plenty of initiatives to revive it.
Further, the rate cuts would also make India a cheap tourist destination to visit. Further, cost pressures, liquidity crisis and regulations concerning the real estate sector have made funding for hotel projects difficult. This coupled with unrealistically high land prices and government red tapism could result in hotel projects taking longer to fructify.
The phenomenon is expected to have an effect on hospitality development in India. This may lead to a stop or delay in the completion of projects as well as a revision of the project expenditure. Developers have also diverted their plans in favour of commercial or residential buildings due to liquidity crunch and higher land prices leading to a longer breakeven period.
Considering all these factors, industry estimates that just over half of the planned 0. Hence, considering the demand supply mismatch, the new room additions will not create overhang.
Thus, we believe that the existing players would benefit from the continued demand-supply mismatch once the economy revives. While leisure travel would continue to be low, business travel, domestic travel, medical tourism and mid market segment would be the target areas.
As per estimates, domestic tourism has risen from m in to m inemerging as a major driver for the industry. This slump in the industry will also provide opportunities to existing hotel companies with high cash in their kitty to acquire distress assets at cheaper valuations.
Over the last decade and half the mad rush to India for business opportunities has intensified and elevated room rates and occupancy levels in India.This department is the hub of the hotel industry and is responsible for all the food that is prepared and served in the hotel.
The main functions performed by the department are- presentation, preparation and service of food and beverages involving kitchen, bar and baker.
Search In hotel industry job jobs in Gurgaon, Haryana with company ratings & salaries. 92 open jobs for In hotel industry job in Gurgaon. higher than that of Non Star Hotel. 3 Star Hotel grew the highest with %, followed by 5 Star Hotel (%), and 2 Star Hotel (%).
The Non Star Hotel grew relatively low i.e. around %. Industry Research I Indian Hotel Industry 2 Classification of Hotels The Indian Hotel Industry can be broadly classified under 3 major heads: Star Hotels: The Ministry of Tourism classifies the hotels into 5-D, 5 star 4 star, 3 star, 2, star and 1 star and Heritage hotels.
Identifies business opportunities by identifying prospects and evaluating their position in the industry; researching and analyzing sales options.
Sells products by establishing contact and developing relationships with prospects; recommending solutions. hotel management, reservation executive, Hotel Reservations, Escalations Job Description: A reservations sales associate position is responsible for ensuring a positive and memorable 1,75, - .