1. Task 1
Analyze current scale, scope and diversity of the hospitality industry so that your report will help The Mittal Group to take a decision. 1.1, M1
Assume that if I am a senior team member in “Expert Business Consultancy Firm” then my role is to show/give the information about the current scale, scope and diversity about the hospitality industry so that The Mittal Group will invest in hospitality industry and the information was briefly describe given below:-
1.1 Hospitality industry
The Standard Industrial Classification (SIC) (1968) defined it as 'establishments (whether or not licensed for the sale of intoxicating liquors) providing meals, light refreshments, drink or accommodation (.Jones, 1996). Knowles (1996:2) further describes the hospitality industry as 'any combination of the three core services of food, drink and accommodation...a blend of 'tangible and intangible elements - and the service, atmosphere and image that surrounds them.
Hospitality defines as the “reception and entertainment of guest, guest visitors with good well and friendly service”. Hospitality Industry is responsible for warm and friendly service to the people who have left their home for different propose service may differ depending upon type of the guest. Some of the examples of the hospitality industry are hotel, restaurant, pubs, nightclubs, travel agency, airlines, hospital etc. (Gurung, 2010)
As Nepal is a country of Mount Everest, birth place of Lord Gautam Buddha, country of diverse culture, tradition, garden of different castes and religion. Every year thousands of tourists come to visit Nepal and enjoy the real life. So Nepal is a developing country in the field of Hospitality. In order to make our country much more developed then we must focus to establish good and friendly environment. Lets’ take a simple example there must be a good accommodation and lodging. In Nepal there are only few star categorized hotels which were not enough for our country. So in my view Hospitality Industry doesn’t only gains profit for the people but it makes the country developed and get the job opportunity. It also makes good relationship between the countries.
1.1.1 Hospitality Gross Domestic Product (GDP)
In the context of Nepal, the hospitality industry has a significant share in the gross domestic product. The gross domestic product (GDP) of Nepal grew by 4.6% in Fiscal Year 2012 (ended in July 2012), up from 3.8% a year earlier. Good weather allowed a bountiful harvest, and robust increases in tourist arrivals and migrant worker remittances underpinned the recovery.According to the of Nepal the total flow of tourist in Nepal during 2068 was 7,36,215.The number of star and tourist-standard hotels in Kathmandu has increased by around 46 percent over the last five years.Nine star-rated and 74 tourist-standard hotels opened in the country between 2010 and 2011 after the government announced the Nepal tourism year 2011(NTY)campaign. In 1994/95 the ratio rate was highest turnover rate of Nepal. (www.adg.org, 2013)
This indicates that Nepal is a viable market for tourism industry. And the purchasing power of hospitality industry was also high in Nepal as for the information of Government of Nepal. Government approach three project worth over 55 billion . While the 5 star hotels was also built by Shesh Ghale, a non-resident Nepali (NRN) based in Australia.The company will invest around Aus$ 75-80 million (Rs 6.64 billion-Rs 7.09billion) in the project that will ‘start within a year’. MIT Group, which has bought land near the Narayanhiti Palace Museum for the project, has said the hotel will come into operation by 2017. (www.myrepublica.com, 2013)
1.1.2 Scope of the hospitality industry as given below:-
1. Employment opportunity/Generation
As we know hospitality industry is totally diverse industry and also largest and fastest growing industry. We have lot of opportunity to get employment easily in the field of...
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