Economic of hotel management

[...]... establishment of the Plaza hotel in New York city Built in 1903, this hotel was the first of its kind with its exquisite ballrooms, suites and public areas The other famous hotels of those times included the Ritz Carlton and the Statler chains Conrad Hilton was the first successful hotelier to start a chain of hotels after the first world war He acquired the 3000 room 4 Economics of Hotel Management Stevens hotel. .. were called small hotels Hotels, which had twenty five to ninety nine rooms were called medium hotels Hotels which had 100 to 300 rooms were called large hotels Hotels with rooms more than 300 were called very large hotels The classification process helped in standardizing the services of the hotels Till recently the goverment of India fixed the tariff of approved hotels on the basis of their standards...2 Economics of Hotel Management the need and timing, for which the concept of economiccs is utilised The production activity involves the types of cuisine to be prepared each day The type which is more preferred by guests The cost incurred to be setup the hotel has also to be calculated The guiding principles of economics enables the hotel industry to get not only profits but tries to... second chain of budget hotels called Trident and novotel groups 3 Welcom Group has 21 hotels in India 4 Taj Group owned by the Tatas, has 28 hotels in India, 15 overseas They taj group has also started the second chain of budget hotels call gateway hotels 5 Air India has 4 major hotels, two in Bombay and one in Srinagar and Delhi called Centaur hotels To protect the interest of the hotels and hoteliering,... in search of accommodation which serves his tastes as well his financial status This has led to competition no longer confined to a number of hotels located in the center of the town, but it has extended to 14 Economics of Hotel Management various class of establishments scattered throughout the town and even to other remote areas In view of the immense tourist potential of the state, the hotel industry... are certain types of hotels built within palaces, forts and some of hotels with in huge ships Heritage hotels: The ancient historical places, forts and havelies have now been converted into luxury hotels, which are also referred to as 'heritage hotels' This process of conversion in india started as early as 1950 The heritage hotels are said to be old palaces of the kings and monarchs of ancient India... Indian hotels have their representative organization with head Quarters in New Delhi called the Federation of hotels and restaurants associations of India (FHRAI) with regional offices in Calcutta, Bombay, and Chennai The objective of the federation are to upgrade the professional standards of hotels and to for the hotel industry a fair deal from the government Apart from the above mentioned hotels... to tourism and travel management The department of tourism has accorded high priority to the development of manpower to meet the growing needs of hotels, restaurants and other tourism industries 30 institutes of hotel management and catering technology and 13 food crafts institutes have been set up in the country These institutes conduct diploma courses in the fields of Hotel Management and catering... Department of Tourism annual report 2000-2001 The Hotel Industry 27 1.12 THE TYPES OF HOTELS The hotels in India are basically classified on the basis of the luxury and facilities which they provide It is seen that the number of star hotels run by the private group as well as the govt has increased rapidly over the years The figures published by department of tourism 2000-2001 reveals growth of the hotels... Airport a hotels b motels c all-suites d motor inns and motor lodges e condominiums 4 Highways a motels b all-suites c motor inns and motor lodges d inns e lodges 5 6 Economics of Hotel Management f bed and break fast g hostels h resorts Hotel : Hotel is often referred to as a 'home away from home' It is the place where the tourist stops being a traveler and becomes the guest A hotel usually offers a . growth. The type of facilities offered, the number of rooms to be built, all these decision have to possess 2 Economics of Hotel Management the need and timing, for which the concept of economiccs. left blank Preface The field of economics encompasses the study of the entire economic system — both at the micro and macro level. Hotel economics is one such area where the subject matter of economics has. Hilton was the first successful hotelier to start a chain of hotels after the first world war. He acquired the 3000 room 4 Economics of Hotel Management Stevens hotel (now called the Chicago Hilton),