Emerging Market Dynamics Within and Beyond Customer Buying Decision Using TOPSIS to the Budget Hotel Chain Industry
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 12
Abstract
Hotel industry is an important part of tourism. The expansion of tourism is unavoidable bringing out development of hotel industry. Hotel industry is so closely linked with the tourism that it isresponsible for about 50% of the foreign exchange earnings from tourism department. The hotel industry in India is a fully developed industry marked by extreme competition, where an increase in market share typically comes at a competitor’s price. The Indian hotel industry is experiencing a prolonged success. At present this industry has a supply of 1, 25,000 rooms in India and Government has taken several steps to boost travel & tourism which have benefited hotel industry the most in India. The data available with the World Travel and Tourism Council, India, indicates that India ranks 18th in business travel, and should rank among the top 5 within this decade. The hotel industry in India is going through an interesting phase. One of the major reasons for the increase in demand for hotel rooms in the country is the high growth in sectors like information technology, telecom, retail and real estate etc. The growth of the tourism industry has also added bonus to the hotel industry. Taj hotels, Resorts and Palaces covers a great market in hotel industry than the other luxury hotels in the race. They have better product profile than the rest i.e., great management, hospitality and facilities provided to their customers. To compete with this luxurious hotels is very difficult. But India is still a developing country where each individual is poor in nature and for them the government has come up with a budget hotel concept which is quite affordable and has reasonable price according to its facilities.
Authors and Affiliations
Dr. Sweta Rani, Sushma Chauhan
Keywords
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- EP ID EP422291
- DOI 10.9790/487X-2012024551.
- Views 43
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