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Abstract

The Indian hospitality industry was known for abetting tourism on a large scale. It was one such sector, which showed unprecedented growth and provided benefits on various parameters. Indian hospitality comprised of various business units such as tour operators, travel agents, guest houses, to name a few. Among them, the most significant division was the hotel industry. The Indian hotel industry was expected to increase to 0.114 million rooms in the future. The Indian hotel industry was rising like a phoenix with CAGR of 12.2%. But in the year 2013, it had witnessed a major downturn. It encountered major deals and joint venture split ups, and reduced tourist arrivals. This led to the loss of revenue generation, and eventually the profits dwindled. Eminent companies like The Indian Hotels Company by the Tata Group, The Leela Venture and Kamat Hotel India Ltd had encountered colossal net loss. In addition to that, security was considered to be a major threat for overseas travellers. Terrorism and attacks on women had created disturbances all over, resulting in reduced tourist arrivals. Although government and several hotels initiated campaigns and programs for safety of women and tourists, they were not very effective. In the light of the above scenario, it remains to be seen whether the Indian hospitality industry sustains its charm in the competitive hospitality market in the long run.
Location:
Industry:
Other setting(s):
2013

About

Abstract

The Indian hospitality industry was known for abetting tourism on a large scale. It was one such sector, which showed unprecedented growth and provided benefits on various parameters. Indian hospitality comprised of various business units such as tour operators, travel agents, guest houses, to name a few. Among them, the most significant division was the hotel industry. The Indian hotel industry was expected to increase to 0.114 million rooms in the future. The Indian hotel industry was rising like a phoenix with CAGR of 12.2%. But in the year 2013, it had witnessed a major downturn. It encountered major deals and joint venture split ups, and reduced tourist arrivals. This led to the loss of revenue generation, and eventually the profits dwindled. Eminent companies like The Indian Hotels Company by the Tata Group, The Leela Venture and Kamat Hotel India Ltd had encountered colossal net loss. In addition to that, security was considered to be a major threat for overseas travellers. Terrorism and attacks on women had created disturbances all over, resulting in reduced tourist arrivals. Although government and several hotels initiated campaigns and programs for safety of women and tourists, they were not very effective. In the light of the above scenario, it remains to be seen whether the Indian hospitality industry sustains its charm in the competitive hospitality market in the long run.

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Location:
Industry:
Other setting(s):
2013

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