The hospitality industry is intricately linked to the tourism industry and the growth in the Indian tourism industry has fuelled the growth of the Indian hotel industry. The Indian hospitality industry, at present, is booming with major brands out to cash in on the tourism boom. The current growth of the hospitality industry can be attributed to three main factors:
The middle class segment in India is growing and Indians are becoming more mobile within and outside the country.
India has become the IT centre of Asia bringing in more investment and
The Indian Ministry of Tourism has been proactive in launching a successful global advertising campaign, ‘Incredible India’.
There is no doubt that the hospitality industry is going to grow by leaps and bounds in the near future. There are better prospects in store, all thanks to the growing tourism industry.
According to the Travel and Tourism Competitiveness Report 2011 by the World Economic Forum, India is currently ranked 12th in the Asia Pacific Region and 68th overall in the list of the world’s attractive destinations. The ninth five year plan predicted the need for 30,000 trained professionals every year with the flourishing of hotels. By 2015, as per consulting firm Cygnus’s report, Indian hotel industry is expected to reach Rs 230 billion, growing at 12.2 percent. Total number of hotel rooms in India will reach more than 180,000 within the next two years. Around 40 international brands are all set to foray into the lucrative and promising Indian hospitality segment.
Since the industry is growing at such as fast pace, it is an obvious fact that the employment opportunities in this sector is also growing in abundance. With the increase in demand for the existing job profiles, there is plenty of scope for a lot of new job roles. Due to the immense demand for talented people, the hospitality sector offers great careers in top-notch hotels.
Compensation packages and benefits have also seen a steady increase over the past few years ensuring that the talents are paid at par with other industries. Better career growth opportunities have also ensured that the industry has been able to retain the right talent in the market.
On an overall, this is the best time for anyone aspiring to join the hospitality industry where opportunities are in abundance to be part of this flourishing industry.
The Oberoi Grand, Kolkata
The Indian hotel industry is seeing significant growth in room inventoryacross categories from upscale luxury to limited services and, boutiqueand budget hotels.
The Ministry of Commerce and Industry, Government of India, allows 100 percent foreign investment under the automatic route in the hotel and tourismrelated industry. The Government of India has also started grantingtourist visa on arrival (T-VoA) for the citizens of Finland, Japan,Luxembourg, New Zealand and Singapore, and it is proposed to graduallyincrease the number of countries eligible for this scheme.
Federation of Hotel and Restaurant Associations of India estimates thatIndia currently has over 200,000 hotel rooms spread across hotelcategories and guest-houses and is still facing a shortfall of over100,000 rooms. Leading hotel brands have pepped up their investments andare in various stages of commencement of new proprieties in India, both inmetro and non- metro cities. Cities such as Hyderabad, Pune, Jaipur andChandigarh have emerged as growth markets.
Similarly F&B offerings in India have evolved and are fast making a markfor themselves. We have seen the successful launches of standalonerestaurants like Indigo, Olive, Hakkasan, Yu'atcha, Zest, Smoke HouseGrill, Spaghetti Kitchen and so on. Quick Service Restaurant (QSR) brandslike Domino's, Pizza Hut, KFC, McDonald's have huge expansion plans in thenext five years.
A key challenge that the industry faces today is the shortage of skilledmanpower. With the addition of new hospitality products and attrition toother service industries such as retail, banking, insurance, travel, thedemand gap is only widening. The demand is so high that each studentpassing out of a quality hotel management institute is offered a job byfive-six hotel companies besides other service sectors looking for similartrained manpower.
Thus, it is a good time to enter the hospitality domain and make asuccessful and rewarding career.
Taj Bengal, Kolkata