Performance Management System in the Hospitality Industry
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Introduction
and key facts: hospitality
sector Opportunities Challenges Future Trends HR implications PMS in Taj PMS in Orchid
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HOSPITALITY: “The act of being kind or receptive to guests or visitors.” The mutual dependency of Hospitality and Tourism sectors make it very tough to segregate one from another. However, the Hospitality industry can broadly be classified into 4 major categories viz.:
Hotels
Restaurants Catering services Hospitality services
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Demand
and supply
•
Current supply of 110,000 rooms; Shortage of 150,000.
•
Demand is going to exceed supply by at least 100% over the next 2 years.
Demand-supply disparity, hotel rates in India are likely to rise by 25% annually and occupancy by 80%, over the next two years. •
This will affect the competitiveness of India as a cost-effective tourist destination. •
Increase Lack
in real estate prices.
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India is a country which believes in “Atithi Devo Bhava” History of Hospitality industry as a business in India can be traced back to the years of “Saraiye Khanas” and “Ashramas”. Concept of Hotels was introduced late in India with the advent of the British. ITC Maurya and Taj Mahal Palace were among the pioneer hotels of India. However, the major developments in the sector came about in the last two decades after hospitality and tourism industries got focus of the government With the Indian tourism industry growing due to reasons like cheap tourism destination, hot destination for medical tourism and marketing by the tourism industry, the hospitality sector is also getting great boom.
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Hospitality sector is likely to see US$ 11.41 billion in the next two years. India is likely to have around 40 international hotel brands by 2011. The industry is dominated by 4-5 large Indian hotel owner-managers – The Taj Group, Oberoi, ITC, Leela and Bharat Hotels The branded segment represents approximately 30,000 rooms or 30% of the total hotel stock Occupancy ratio is around 75-80 per cent. Average increase in room rates hovered around 22-25 per cent (JulySeptember 2007). Global hospitality majors have evinced a keen interest in the Indian hospitality sector. Eg. chains like the Hilton, Accor, Marriott International have announced major investment plans that would translate in to 65,000 additional rooms. Travel and Tourism is a $32 billion industry in India, 5.3% of GDP Foreign tourists during the first ten months of 2007 to reach 3.89 million as against 3.46 million during the corresponding period last year. For free MBA Projects and More – www.managementparadise.com
Growth in Indian economy led to increase in middle class income. Booming IT sector Aggressive campaign – “incredible India”... Growth of inbound and domestic tourism Indian tourism demand will grow at a CAGR of 8.8 per cent over the next decade till 2015 The aviation and real estate boom Initiatives to liberalize foreign investment and improve infrastructure From a seven-eight brand hotel market a few years ago, India will be a 40brand hotel market by 2010 The occupancy is currently 85-90 per cent in the star category and 55-60 per cent in the budgetary class hotels. the hotel management institutes in India have mushroomed from just 18 to over 280 today
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Read this Full Report on : -
http://www.managementparadise.com/pongal1990/documents/8635/p Free MBA / Bschool Project Report on Supply Chain Management:
Project on Hotel and catering industry ( http://www.managementparadise.com/forums/service-sector-management-s-s-m/40027-project-hote )
Top colleges in India offering Hotel Management course ( http://www.managementparadise.com/forums/general-knowledge-gk/225511-top-colleges-india-offe )
What YOU can do after a Hotel Management degree ( http://www.managementparadise.com/forums/indian-b-schools-college-zone-campus-talks/224040)
Career Option with Hotel Management Degree ( http://www.managementparadise.com/article/4791/career-option-with-hotel-management-degree )
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