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CHAPTER :1 INDIAN HOTEL INDUSTRY OVERVIEW

1.1 INTRODUCTION

Since the opening of the market and the rapid economic development, the travel and tourism industry has blossomed. The hotel industry’s fortunes are closely linked to this sector of the economy. But the availability of hotel rooms has not kept pace with the increasing demand. Moreover, as India accounts for only 0.5% of the global tourist trade, there is immense scope for growth. The World Tourism Organization (WTO) expects the Indian tourism industry to grow by 8.8% in the next 10 years. This will need the creation of even larger number of hotel rooms. As there is already a shortage of hotel rooms and this 9% shortfall is likely to be met only by the 1st half of 2009, the sector players will benefit in near term with higher profits. The importance of the sector has already made the GOI increase the allocation to the tourism ministry significantly.

A large middle class of 300 million people with increasing......

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Approximate Word Count: 22033
Approximate Pages: 89 (250 words per double-spaced page)

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