AN ANALYTICAL STUDY OF IMPACT OF RECESSION ON TOURISM & HOSPITALITY INDUSTRY
DOI:
https://doi.org/10.61841/z7jqf620Abstract
The hotel industry is directly connected by the tourism industry. It is due to the reason that with a decrease in the number of tourists, the arrival of customers at the hotels gets reduced, which directly affects the profitability of the hotels. The current business scenario accompanied by the economic recession has drastically affected the operations and business status of different industries. The hotel industry has also got affected by the economic recession. The efficiency and profitability of many companies got reduced significantly, which intended the companies towards cutting the cost and reducing the labor force. In spite of the drastic conditions imposed by the economic recession, the hotel industry managed to survive in the market. Hotel industry is one of the most important segments of hospitality industry, which offers accommodation, amusement and recreation facilities to the potential customers. The main aim of the hotel industry operators is to provide quality services, maintaining the adjustable facilities and directing the lodging related operations for the customers. In the present competitive environment, the hotel industry is widely dominated by the large group of hotel chains. The paper intends to focus on growth of hotels in India during recession period. The paper will also highlight the strategies and practices in order to overcome the influence of economic recession.
Downloads
Downloads
Published
Issue
Section
License
This work is licensed under a Creative Commons Attribution 4.0 International License.
You are free to:
- Share — copy and redistribute the material in any medium or format for any purpose, even commercially.
- Adapt — remix, transform, and build upon the material for any purpose, even commercially.
- The licensor cannot revoke these freedoms as long as you follow the license terms.
Under the following terms:
- Attribution — You must give appropriate credit , provide a link to the license, and indicate if changes were made . You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
- No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.
Notices:
You do not have to comply with the license for elements of the material in the public domain or where your use is permitted by an applicable exception or limitation .
No warranties are given. The license may not give you all of the permissions necessary for your intended use. For example, other rights such as publicity, privacy, or moral rights may limit how you use the material.
