IIMB Management Review
Document Type
Interview
Abstract
The hotel industry is hopefully just emerging from a threeyear period of recession. The heyday of the industry was in the years immediately following the opening up of the economy, from 1993-94 onwards. However, we had a couple of unfortunate events at that time, Babri Masjid and then the plague scare. Despite the economic environment turning positive, these other elements are very good examples of the non economic factors that can have a serious impact on the hotel industry. So it was really in 94-97 that the industry reached its peak. Foreign investors came in significantly large numbers compared to the previous period and there was lot of interest in business. There was also an accompanying upsurge in tourism, whilst there was insufficient capacity. All in all it was a period on which the industry can look back with some nostalgia.
Recommended Citation
Seshadri, S
(2000)
"Reinventing Indian hospitality,"
IIMB Management Review: Vol. 12:
Iss.
4, Article 15.
Available at:
https://research.iimb.ac.in/imr/vol12/iss4/15
Publication Date
12-1-2000
First Page
25
Last Page
34
Included in
Finance and Financial Management Commons, Hospitality Administration and Management Commons