Trends: Travel, FHRAI, Indian Hospitality Industry, Market Outlook, Multi-Skilling, Learning and Experience, India

FHRAI bullish about Indian hospitality industry

FHRAI believes that the Indian hospitality industry will not be affected by the global economic crisis. The organisation revealed this in a recent press release which also refers to the Indian Hotel Market Outlook Report, India Digest 2008’s (brought out by Jones Lang LaSalle Hotels, a market leader in hotel investment and advisory services) statement that the impact is expected to be short term in nature.

According to M P Purushothaman, President, FHRAI, organisations that want to effectively take note of the recessionary trends and protect their business will have to take on some hard decisions on the business front like ‘back to basic’ kind of planning, and ensure that input costs are maintained at levels that would continue to give them the profit margins without sacrificing the quality of delivery or the products.

Purushothaman feels that the hospitality industry should work on training, preventive maintenance, multi-skilling, employee exposure, cross training and such measures that are non-financial and would enhance guest satisfaction. Staff retrenchment, cost cutting, travel and advertisement cuts may show savings in the short run but would certainly damage the long term growth of the hospitality industry. The next 18 to 24 months are testing times for the hospitality industry, but the hoteliers with a proven track record will take things in their stride and come out of the recession with better learning and experience.

As Purushothaman says, “Another opportunity before the hoteliers is to look at options of joint promotions. Many hoteliers are already operating in collaboration with airlines and travel agents for package offers, not only for tourists but also on groups, meetings as well as wedding promotions. Hotels have also associated with car rentals, travel portals and airline networks. This is expected to help ease the recessionary cascading effect.”

Nov 17, 2008
Source: Hospitality Biz India
URL: http://www.hospitalitybizindia.com/detailNews.aspx?aid=2601&sid=1#