Untapped potential
For hoteliers the good old days of 1994 are over. Economic liberalisation that began in 1993 led to such a boom that five-star hotels in Mumbai started charging room rates equivalent to that in New York. But with occupancies going for a toss, hoteliers today have pruned room rates steeply and are ready to bargain for discounts.

Editorial
Time and again the government has neglected tourism. It has failed to realise how important a role this sector can play in terms of generating employment and foreign exchange.

Plastics take the lead
The Credit card has become the most preferred mode of payment for the rich as well as the corporate traveller in India. This is borne out by a study, which found that 37.5 per cent of receipts of five-star deluxe category and 35.8 per cent of five-star category hotels were through credit cards during the year 1998.

A tale of missed opportunity
Special events are the mainstay of tourist arrivals for many countries. The dawn of the new millennium is being viewed as a great event for the travel and tourism industry in general and the hotel industry in particular.

Agenda for the government
Despite the service sector accounting for a whopping 51 per cent of the country's GDP and notwithstanding various talks about incentives to the hotel industry, the hotel and tourism industries remain a neglected lot.

Make room for fun and frolic
One sector that suffers the most during recession time is the hotel industry. The Indian hotel industry is no different. Financial performance of the two largest listed companies in the industry has been disastrous to say the least. Net profit of Indian Hotels fell from Rs 133 crore during fiscal 1998 to Rs 129 crore during fiscal 1999.

"Hotels should have more exhibitions, conventions and trade shows"
Stephen Rushmore is the president and founder of Hotel Valuation Services (HVS) International, a global consulting firm with offices in New York, Miami, Denver, San Francisco, Vancouver, Mexico City, London, New Delhi and Singapore. In his entire career he has visited more than 6,000 hotels and has appraised at least 1,000 hotels all over the globe.

Ecotel tag rings the bell for hotels
How does one five-star hotel differ from another? Except for the location and some subtle variations in themes, most hotels under this category are the same. All are expected to provide luxurious and most modern facilities.