Singh, V: Innovative Corporate Strategies

The Liberalization era in India has ushered a series of changes on the economic front, thereby leading to all around changes in the living styles, spending preferences, customer‘s preferences and eating styles which may be outcome of increased spending potential. This has led to innovations in all spheres of business practices. Hospitality industry is one such industry where innovations have led to a complete change in the offerings, all across the value chain. This industry is so important that it has also become the fancy of more international players than ever before. The changes have swept metropolitans as well as regional urban centers. The challenges brought about by this competition are important areas to study as it no more remains to be a case of simple restaurants offering a regular menu which might have continued for decades or a hotel which might be offering just a couple of segments in its room range. Instead it is now a case of combo packs in servings and highly segmented facility offerings, specific accommodation suiting the needs of business executives, old and young travelers, honeymoon couples, small families etc.