...Hospitality industry ACKNOWLEDGEMENT We would like to express our gratitude toward Mrs. Vandana Ahuja ma’am for her kind co-operation and encouragement which helped us in completion of this project. We would also like to express our special gratitude and thanks to industry persons of Taj and Oberoi group of hotels for giving us such attention and time. Our thanks and appreciations also go to our colleagues in developing the project and people who have willingly helped me out with their abilities. * Group members INDEX 1. CRM introduction 2. Architecture of CRM 3. Hospitality industry 4. Classification of industry 5. Top players in India 6. Challenges for hospitality industry 7. Customer management in hotel industry 8. Research framework 9. Technology and CRM 10. CRM software for the hotel industry 11. CRM in Oberoi hotels 12. CRM in TAJ hotels 13. CRM implementations 14. Conclusion 15. Recommendation 16. Bibliography CRM INTRODUCTON Customer satisfaction is a business philosophy which tends to the creation of value for customers, anticipating and managing their expectations, and demonstrating ability and responsibility to satisfy their needs. Qualities of service and customer satisfaction are critical factors for the success of any business. Enterprises exist because they have a customer to serve. The key to achieve sustainable advantage lies in delivering high quality service those results...
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...Business Strategy Gap Analysis 8 Industry Environment Business Strategy Gap Analysis 9 Strategy-Capability Gap 9 1. Macro-Environment Analysis 16 2. Industry Analysis 22 2.1 Threat of New Entrants 22 2.2 Bargaining Power of Suppliers 24 2.3 Bargaining Power of Buyers/Customers 25 2.4 Power of Substitutes 26 2.5 Intensity of Industry Rivalry 27 3. Internal Analysis Appendix 29 Introduction: [pic] Taj Hotels, Resorts and Palaces operates under the parent company Indian Hotels Corporation Limited. They have been operating for 107 years, and were positioned as India’s largest hotel chain, with a range of properties for both business and vacation travel market. Owned by the Tata group, Taj maintains a very hierarchical structure, with a senior management team that stems from family connections. The report at hand will evaluate the past and current strategic position of the Taj hotel group, how being under the TATA group umbrella and how this has enabled the brand to grow and develop into the most recognized and luxurious hotel brand within India. Hotel brands Worldwide have been trying to go international, taking the advantage of their brand recognition, economic capabilities and increasing market demands. The Taj hotel group past and current strategies of going international were executed in locations that have an already saturated market or in cities that do not have sufficient ‘Taj’ brand awareness. For these reasons...
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...Emerging Indian Hospitality Sector: A study of NCR hotels Shiv Mohan Verma, Asst. Professor. HRCTGI Ravi Kumar Singh, Asst. Professor. HRCTGI Abstract Today, big name brands are embracing new technologies and adjusting their budgets in some surprising ways. Using mass production, network broadcasting, nationwide transport and chain retailing, marketers are driving consumption among the rapidly increasing population. The emerging trends in marketing have been caused by multiple factors like advent of MNC’s in India, changing industry structure or increasing media penetration to Indian homes. Marketers today acknowledge the value of knowing the customer and retaining customer relationship. This paper explores the changing dynamics of the Hospitality Sector, its ever-increasing focus on innovation along with the reasons causing the changes. The paper will address everyday questions faced by marketers in the rapidly evolving marketplace. Introduction The economy has moved decisive to a higher growth phase. Till a few years ago, there was still a debate among informed observers about whether the economy had moved above the 5 to 6 per cent average growth seen since the 1980s. There is now no doubt that the economy has moved to a higher growth plane, with growth in GDP at market prices exceeding 8 per cent in every year since 2003-04. Over the last five years there has been a sharp acceleration in the growth of per capita income, almost doubling to an average...
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... Assignment Details Module name 7AC002 For the attention of Dr. Mark Price Mr. Priyanka Darshana Due date Assignment title 15 May 2015 Financial Analysis for Taj Lanka Hotels PLC th All forms of plagiarism, cheating and unauthorized collusion are regarded seriously by the University and could result in penalties including failure in the unit and possible exclusion from the University. If you are in doubt, please read the following web page. Student’s Declaration By submitting this assignment I SIGNAL & DECLARE my knowledge and agreement to the following: Except where I have indicated, the work I am submitting in this assignment is my own work and has not been submitted for assessment in another unit or for any other purpose. This work conforms to the instructions and submission guidelines as contained in the assessment briefing and the module guide respectively. This submission complies with University of Wolverhampton policies regarding plagiarism, cheating and collusion. I acknowledge and agree that the assessor of this assignment may, for the purpose of assessing this assignment: Reproduce this assignment and provide a copy to another academic staff member; and/or Communicate a copy of this assignment to a plagiarism-checking service. This web-based service will retain a copy of this work for subsequent plagiarism checking, but has a legal agreement with the University that it will not share or reproduce it in any form. I have retained...
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...Project report: Taj Tragedy 26/11 Mumbai Attacks [pic] Submitted by : Table of Content |S.no |Content |Page No | |1 |Introduction |3 | |2 |Case Study |5 | |3 |Answers |6 | |4 |Bibliography |10 | Introduction: The Taj Mahal Palace & Tower is a five-star hotel located in the Colaba region of Mumbai, Maharashtra, India, next to the Gateway of India. Part of the Taj Hotels, Resorts and Palaces, this building is considered the flagship property of the grand contains 565 rooms. From a historical and architectural point of view, The Taj Mahal Palace and the Tower are two distinct buildings, built at different times and in different architectural designs. The hotel has hosted notable guests such as The Beatles, Jacqueline Kennedy Onassis, Bill Clinton, Jacques Chirac, The King & Queen of Norway, The Duke & Duchess of Kent, The Duke of Edinburgh...
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...its entertainment/luxury conglomerate through the recent acquisition of half ownership over the sports entertainment giant The World Wrestling Entertainment (WWE) and its recent entry into the higher-tier water business with its new brand, Trump Ice, it’s Casinos in Atlantic City (AC) do not seem to be doing so well. With increased competition, mounting regulations, and a relatively depressed economy the overall revenue of the Trump Organization’s AC hotels are diminishing, with administration expecting lower market shares in the coming years (“Trump buys raw”, 2009) (“The Trump Brand, 2012) (“Trump Entertainment Resorts, Inc”, 2010) (Bary, A., 2011). The organization’s failure to systematically allocate resources for periodic improvements/updates to these facilities have cost it the inability to attract or retain customers. In fact, just recently the organization relinquished one of its AC properties, The Trump Plaza to its competitor, The Golden Nugget (Wittowski, 2011). This is allocation of resources is critical in an industry where customer retention is correlated to the amount of expenditure and improvements made to the facilities. This slump in the organization competitive performance has been the case for quite some time. The Trump Organization has repeatedly fell at the brink of filing for bankruptcy – due to high leverage, low liquidity, and poor operating performance compared to its competition (Bingham, 2011). While financial stability has been a problem for the...
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...Porters 5 forces analysis for hotel industry BARGAINING POWER OF SUPPLIERSThe term 'suppliers' comprises all sources for inputs that are needed in order toprovide goods or services.The high class hotels are operating by few hotel chains like-TAJ, EIH, ITC&THELEELA PALACE so they have a control over the industry.There are no substitutes for spas and five star hotels.The hotels customers are fragmented, so they have to reduce their bargaining powerto attract the customers.The Taj, ITC& Oberoi are having various rates and tariffs. Because they are havingtheir own brand image.The hotel chains are operating different services like Spas, Boatels, Resorts, CityCenters, Heritage HOTELS, etc.2 . BARGAINING POWER OF CUSTOMERSSimilarly, the bargaining power of customers determines how much customers canimpose pressure on margins and volumes.The hotel industry is one of the most invested in its fixed assets. So they are tryingto recover their amount quickly.The suppliers are providing better information about them to attract the customersHere the buyers are highly informed.If the hotel price changes are moderate, the Customers have low margins and areprice-sensitive.Some unseasoned timings the hotels are offering discounts and incentives toreduce the bargaining power of buyers.3. THREAT OF NEW ENTRANTSThe competition in an industry will be the higher; the easier it is for other companies toenter this industry. In such a situation, new entrants could change major determinants of the marketenvironment...
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...Review Triple Bottom Line performance Taj Group of Hotels tries to uphold the Tata’s way of business with trust, transparency and commitment to human values and makes a constant endeavour to align and integrate its efforts to address the societal needs and challenges. People The hospitality business success is a function of guest satisfaction and IHCL goes beyond the call of duty to bring warmth and care in all the guest interactions. This enhanced customer satisfaction builds customer loyalty and increase customer advocacy. This is one of the most important aspects for ensuring robust financial bottom line, required for long term sustainability of the company. Different issues which are of prime importance to the stakeholders 1. Ensuring the safety and security of guests, associates, communities and properties is of prime importance to IHCL. Different risks for which associates are vulnerable, such as risks related to handling of equipment in kitchens, working at heights, performing repetitive tasks, working in cold storage areas, etc, are addressed and handled. This year IHCL has conducted 348 evacuation drills; covered 15,265 associates under fire safety and first aid sessions and 12,208 associates under food safety and hygiene. 2. Developing human capital by training and HR strategies for delivering a seamless guest experience backed by systematic procedures and standards. 3. IHCL believes that it can act as a bridge between high demand on one side and huge...
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...INDIAN HOTEL INDUSTRY RESEARCH REPORT 2013 Submitted by: 1) Arindam Bagh 2) Arindam Das 3) Pavan Kumar Submitted by: 4) Arindam Bagh 5) Arindam Das 6) Pavan Kumar Table of Contents 1. Executive Summary 5 2. Industry Overview 6 2.1. Key Components of Hospitality Industry 6 2.2. Global overview 6 2.3. Indian overview 7 2.4. Market Structure 10 2.5. Industry metrics 12 3. Challenges faced in the Sector 14 3.1. Global economic uncertainty 14 3.2. Seasonality of demand 14 3.3. Oversupply 15 3.4. High Employee turnover 15 3.5. Lack of MICE related Infrastructure 16 3.6. Inadequate supply of quality talent 16 3.7. Low security 17 3.8. High cost of developing property 17 3.9. Poor Infrastructure 18 3.10. Difficult project financing 18 4. Growth Drivers 18 4.1. International tourist arrivals 18 4.2. MICE Destination (Meetings, Incentives, Conferencing, Exhibitions) 19 4.3. Government spending to boost growth 19 4.4. Improving economic environment 20 4.5. Increasing spending power 21 4.6. Government Support (Non-Monetory) 21 4.7. Offers from Airline Industry 24 5. Emerging Trends in the sector 25 5.1. Premium Hotel’s profitability to hit lows 25 5.2. Increasing revenues from F&B Segment 26 5.3. Development of niche tourism offerings 26 5.4. Growing trend towards service apartments 27 5.5. Growing demand for budget segment 27 5.6. Increasing interest of international operators 28 5...
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...head of the Taj Hotel Group. Bhowmick wanted to ask Krishna Kumar to reexamine what the company was trying to accomplish by assigning a particular manager to run the Taj Kumarakom, a smaller property in a highly competitive market. Since assuming management responsibility for the Taj Group in 1997, Krishna Kumar had introduced many changes, the most conspicuous being a new performance management system that represented the first time that promotion and pay had been determined by a formal review and evaluation process. Krishna Kumar had also introduced a formal career development process whereby employees were tracked and groomed for key positions throughout the Taj system. But Bhowmick worried that these systematized assessments might not always identify the right person for a particular job. He knew the candidate who had been selected for the general manager position at the Taj Kumarakom. He also knew some of the other candidates well; indeed, he had had another manager in mind for the job. tC Bhowmick had been in the hotel business his entire life and was practically a legend within the Taj. As chief operating officer of the luxury hotel division, he was in charge of properties that brought in more than 60% of the company’s profits. He had successfully identified and groomed leaders for the Taj Hotel Group throughout his career. Bhowmick was going to ask Krishna Kumar to reconsider his choice. No History and Origins The Taj Hotel Group was begun...
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...Contents Size of the market, growth pattern and evolution of the service…………………………………………...1 Implications for effective marketing………………………………………………………………………2 Environmental Factors……………………………………………………………………………………...4 Industry Players and Competitive Scenario………………………………………………………………..5 Marketing implications for existing players and new entrants…………………………………………….7 Size of the market, growth pattern and evolution of the service The Demand for Indian Tourism is increasing at 10.1% per annum. India will attract 25 million tourists by the year 2015. India currently has 2,00,000 hotel rooms spread across various hotel categories yet has a shortage of 1,00,00 rooms. |Hotel Category |No. of hotels |No. of rooms | |5 star /deluxe |165 |43965 | |4 star |134 |20770 | |3 star |505 |30100 | |2 star |495 |22950 | |1 star |260 |10900 | |Heritage |70 |4200 | |Uncategorized |7078 | | |Total |8707 |132885 | |Restaurants |12750 | ...
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...INDIAN HOTELS INDUSTRY Consumer confidence low; revival contingent on global environment QUARTERLY REVIEW March 2012 ICRA expects the Indian Hotels industry to finish 2011-12 on a weaker note with subdued pricing power eroding margins. Although some revival in operational metrics was witnessed during late 2010-11, the industry continued to lack the pricing power to drive out of its current stagnancy. Globally weak macroeconomic scenario, the European sovereign debt crisis, geo-political turmoil in the Arab countries, high interest rates, inflation and a muted domestic corporate performance during the current fiscal (year to March 31, 2012) have sapped the industry’s ability to sustain inflation adjusted Average Room Realizations (ARRs). Muted ARRs and high costs have led to one of the weakest nine month (9M) periods (April-December-11) in over five years. With uncertainty continuing to cloud the near term, wavering business/consumer confidence and a sluggish economy, there is no significant trigger for the industry during the next two-three quarters. While the start of the next season (in Q3, 2012-13) may bring some relief to the industry in some specific markets, we expect real traction to return to the industry only by 2013-14; overall, we expect this to be a slow and long slog to recovery. We expect ARR growth during the current fiscal to be limited to around 5%, followed by around 5-8% during 2012-13. In the current inflationary environment, RevPAR growth of around 6-7%...
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...of Financial Information of Subsidiary Companies Financial Statistics 57 58 - 61 62 63 64 65 - 81 82 - 106 107 108 - 109 110 111 Consolidated Financials Financial Statements Financial Statistics 112 - 155 156 1 The Indian Hotels Company Limited Board of Directors Management Ratan N. Tata R. K. Krishna Kumar K. B. Dadiseth Deepak Parekh Jagdish Capoor Shapoor Mistry Nadir Godrej A. R. Aga Raymond N. Bickson Anil P. Goel Abhijit Mukerji Managing Director Executive Director – Finance Executive Director – Hotel Operations Yannick Poupon Jyoti Narang P. K. Mohan Kumar Veer Vijay Singh Beejal Desai Solicitors Chairman Mulla & Mulla & Craigie Blunt & Caroe Chairman Vice Chairman Raymond N. Bickson Anil P. Goel Abhijit Mukerji Ajoy K. Misra H. N. Shrinivas Prakash Shukla Rajiv Gujral Managing Director Executive Director – Finance Executive Director - Hotel Operations Sr. Vice President – Sales & Marketing Sr. Vice President – Human Resources Sr. Vice President - Technology & CIO Chief Operating Officer and Sr. Vice President – Mergers, Acquisitions & Development Chief Operating Officer - Luxury Hotels (International) Chief Operating Officer - Luxury Hotels (India) Chief Operating Officer - Gateway Hotels Chief Operating Officer - Vivanta Hotels Vice President - Legal & Company Secretary Committees of the Board Audit Committee K. B. Dadiseth...
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...Resource Practices In Hotel Industry Visit hrmba.blogspot.com allmbastuff.blogspot.com for more project reports, notes, presentations etc. INTRODUCTION TO HOTEL INDUSTRY One of the fastest growing sectors of the economy of our time is the hotel industry. The hotel industry alone is a multi-billion dollar and growing enterprise. It is exciting, never boring and offer unlimited opportunities. The hotel industry is diverse enough for people to work in different areas of interest and still be employed within the hotel industry. This trend is not just in India, but also globally. Modern hotels provide refined services to their guests. The customers or guests are always right. This principle necessitated application of management principles in the hotel industry and the hotel professionals realized the instrumentality of marketing principles in managing the hotel industry. The concept of total quality management is found getting an important place in the marketing management of hotels. The emerging positive trend in the tourism industry indicates that hotel industry is like a reservoir from where the foreign exchange flows. This naturally draws our attention on HOTEL MANAGEMENT. Like other industries, the hotel industry also needs to explore avenues for innovation, so that a fair blending of core and peripheral services is 1 Human Resource Practices In Hotel Industry made possible. It is not to be forgotten that the leading hotel companies of the world...
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...this may sound trivial, but this emphasis on systems has probably lead to Indian Hotels being chosen as a case study by Harvard Business School. It all began last September when IHL's senior V-P (human resources) Bernard Martyris took part in a 12-day HBS executive programme on HR management with 80 participants from 26 countries. While most of the participants shared notes on common issues, the cultural aspect of HRD often came up for discussion. Using the experience of his own company, Martyris talked about how IHL had moved from a work ethos, which was relationship-based (especially during the Kerkar days) to one which now depends on solid systems and is more task-oriented. According to Martyris, IHL has been selected as a case study because the evolution of systems in aspects like work ethos, leadership and cultural change can be traced from its relation-based roots to its current systemic form. The IHL case study will be introduced in the Strategic Management Course and will be a part of the core MBA programme and not just the multiple short-term courses which HBS offers. Professor of organisational behaviour at HBS Thomas J Delong said that though he rarely takes up a case study in HR with a participant, this time he saw the opportunities and processes to unite a case. Apart from being able to trace the evolution of systems, HBS was also impressed by the ability of the Taj Group of hotels to combat major international competitors like Marriott, Radisson, Four Seasons...
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