Project report for Hotel Annanya Inn

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. During 2018, FEEs from tourism increased by 4.70 percent Indian government has also taken several steps to make India a global tourism hub. The government has initiated 'Project Mausam' under which it has proposed to establish cross-cultural linkages and to revive historic maritime cultural and economic ties with 39 Indian Ocean countries. Further, since April 2017, the e-tourist visa facility has been made available to citizen 161 countries. The government has introduced e-Tourist Visa (e-TV) for 161 countries as against the earlier coverage of 113 countries (source: Ministry of Tourism). year-on-year to US$ 28.59 billion. FEEs during January 2019 was US$ 2.55 billion. Tourism has now become a significant industry in India. It is a sun rise industry, an employment generator, a significant source of foreign exchange for the country. Tourism in India is the third largest foreign exchange earner of the country. The booming tourism industry has had a cascading effect on the hospitality sector with an increase in the occupancy ratios and average room rates.

Hotel Annanya Inn is planning to expand its business by building more rooms and facilities in the upper deck. The hotel is situated in the prime location with access to road and communication networks.

Pushpa Pandey is an aspiring entrepreneur with so much potential and ideas. She has a strong vision of the business she is going to do. She is committed and has a well executable plan and its possible risks expected alsoshehave in her plans. 

Hotel Annanya Inn is planning to set up a fine hotel.The hotel industry in India thrives largely due to the growth in tourism and travel. Due to the increase in tourism with rising foreign and domestic tourists, the hotel sector is bound to grow. There is an emergence of budget hotels in India to cater to much of the population who seek an affordable stay. International companies are also increasingly looking at setting up such hotels. Imbalance in an increase in tourists both domestic and foreign not been supported with an equal number of rooms is a latent source of opportunity for growth.

 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 have continued to support the growth of domestic and outbound tourism. During 2018, foreign tourist arrivals (FTAs) in India stood at 10.56 million, achieving a growth rate of 5.20 percent year-on-year. FTAs in January 2019 stood at 1.10 million, up 5.30 percent compared to 1.05 million year-on-year. The travel & tourism sector in India accounted for 8 percent of the total employment opportunities generated in the country in 2017, providing employment to around 41.6 million people during the same year. The number is expected to rise by 2 percent annum to 52.3 million jobs by 2028. International hotel chains are increasing their presence in the country, as it will account for around 47 percent share in the Tourism & Hospitality sector of India by 2020 & 50 percent by 2022. As per world travel and tourism Council (WTTC), India is one of the favorite tourist destinations from the year 2009 and will continue to be one of the favorite tourist destinations. Further, the Travel and Tourism Competitiveness Report by World Economic Forum, has ranked India at the sixth place in tourism and hospitality.

The hotel is also planning to create its own website and also list in the popular marketing website such as OYO, Goibibo, etc and also make tie-ups with State tourism development board.