Investment Opportunities in Holiday Resort
Business Ideas for Holiday Resort (Three Star Grade). Investment Opportunities for Entrepreneurs in the hospitality industry
A three-star hotel isn’t too cheap or too fancy; it’s just right. The owners want guests to feel relaxed and comfortable in their rooms without needing to spend too much money. There are typically restaurants and bars on-site, as well as assistance bringing your baggage to your room. The rooms are generally larger, more comfortable and with more furniture. Three-star hotels ordinarily have some unique amenities and provide quality service.
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General Facilities for 3 Star Hotel:
Full-time operation 7 days a week in season.
Establishment to have all necessary trading licenses.
Establishment to have public liability insurance.
24 hr. lifts for buildings higher than ground plus two floors.
Bedrooms, Bathroom, Public areas and kitchen fully serviced daily.
All floor surfaces clean and in good shape.
Floors can be of any surface or materials.
Power backup or Diesel Generator – DG sets.
Market Outlook
Indian Market
The Indian tourism and hospitality industry has emerged as one of the key drivers of growth among the services sector in India. Tourism in India has significant potential considering the rich cultural and historical heritage, variety in ecology, terrains and places of natural beauty spread across the country. Tourism is also a potentially large employment generator besides being a significant source of foreign exchange for the country. As of 2019, 4.2 crore jobs were created in the tourism sector in India, which was 8.1 per cent of the total employment in the country. The number is expected to rise by two per cent annum to 52.3 million jobs by 2028.
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India is one of the fastest emerging tourist destinations in the world. With beautiful varying landscapes from beaches to snow-clad mountains with diverse culture, traditions and cuisines, the country has plenty to offer for international and domestic tourists alike. Moreover, awareness and marketing initiatives such as the Incredible India campaign along with the newly introduced e-visa options, help make travelling to India more accessible for international tourists.
India is the most digitally-advanced traveler nation in terms of digital tools being used for planning, booking and experiencing a journey, India’s rising middle class and increasing disposable incomes has continued to support the growth of domestic and outbound tourism.
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Indian Hotel Industry’s room rates are most likely to rise 25% annually and occupancy to rise by 80%, over the next two years. ‘Hotel Industry in India is gaining its competitiveness as a cost effective destination. The ‘Hotel Industry’ is likely to add about 60,000 quality rooms, currently in different stages of planning and development.
Government Initiatives
The Indian Government has realized the country’s potential in the tourism industry and has taken several steps to make India a global tourism hub.
Some of the major initiatives planned by the Government of India to boost the tourism and hospitality sector of India are as follows:
Ministry of Tourism launched DekhoApnaDesh webinar series to provide information on many destinations and sheer depth and expanse on the culture and heritage of India.
Ministry of Tourism launched Audio Guide facility App called Audio Odigos for 12 sites in India (including iconic sites).
Prime Minister, Mr Narendra Modi urged people to visit 15 domestic tourist destinations in
India by 2022.
Statue of Sardar Vallabhbhai Patel, also known as ‘Statue of Unity’, was inaugurated in October 2018. It is the highest standing statue in the world at a height of 182 metre. It is expected to boost the tourism sector in the country and put it on the world tourism map.
Government of India is working to achieve one per cent share in world’s international tourist arrivals by 2020 and 2 per cent share by 2025.
Under Budget 2020-21, the Government of India has allotted Rs 1,200 crore (US$ 171.70 million) for development of tourist circuits under Swadesh Darshan for eight Northeast states.
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Under Budget 2020-21, the Government of India has allotted Rs 207.55 crore (US$ 29.70 million) for development of tourist circuits under PRASHAD scheme.
In 2019, Government reduced GST on hotel rooms with tariffs of Rs 1,001 (US$ 14.32) to Rs 7,500 (US$ 107.31) per night to 12 per cent and those above Rs 7,501 (US$ 107.32) to 18 per cent to increase India’s competitiveness as a tourism destination.
In September 2019, Japan joined a band of Asian countries, including Taiwan and Korea among others, to enter India’s tourism market.
Achievements
Following are the achievements of the Government during 2019-20:
During 2019-20, an additional fund Rs 1,854.67 crore (US$ 269.22 million) was sanctioned for new projects under the Swadesh Darshan scheme.
Ministry of Tourism sanctioned 18 projects covering all the North Eastern States for Rs 1,456 crore (US$ 211.35 million) to develop and promote of tourism in the region under Swadesh Darshan and PRASHAD schemes.
Statue of Sardar Vallabhbhai Patel, also known as ‘State of Unity’, was inaugurated in October 2018 and the total revenue generated till November 2019 stood at Rs 82.51 crore (US$ 11.81 million).
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Kay Players
Advani Hotels & Resorts (India) Ltd.
Alchemist Hospitality Group Ltd.
Bekal Resorts Devp. Corpn. Ltd.
Cambay Hotels & Holidays Ltd.
Clover Residency Pvt. Ltd.
Manipal Integrated Services Pvt. Ltd.
Leela Palaces & Resorts Ltd.
Jungle Lodges & Resorts Ltd.