History Of Taj Hotel Tourism Essay

accounting Of Taj Hotel Tourism EssayThe social club was incorporated in 1902 and it opened its first-year hotel, The Taj Mahal Palace Tower, Mumbai, in 1903. The troupe then undertook study expansion of The Taj Mahal Palace Tower, Mumbai by constructing an adjacent tower block and plus the number of suite from 225 to 565 suite. From the 1970s to the present day, the Taj theme has chanceed an consequential role in launching several of Indias bring up tourist destinations, working(a) in close association with the Indian G overnment. The Taj conference has a doctrine of portion excellence which entails providing consistently high levels of personalized run and red-brickistic means of improving serving quality.The Taj Group has been active in converting reason royal palaces in India into world class luxury hotels such as the Taj Lake Palace in Udaipur, the Rambagh Palace in Jaipur and Umaid Bhawan Palace in Jodhpur.In 1974, the Taj Group opened Indias first interna tional five star heroic b each(prenominal) resort, the Fort Aguada Beach recede in Goa.In 1980, the Taj Group took its first step internationally by opening its first hotel immaterial IndiaIn 1984, the Taj Group acquired under a license agreement each of The Taj West annihilate, Bangalore.During the 1990s, the Taj Group continued to expand its geographic and trade insurance coverage in India.In 2000, the launch of the 56 acre Taj Exotica, Goa and the Taj Hari Mahal in Jodhpur were completed.In 2003, the fraternity celebrated the centenary of the opening of its Flagship hotel, the Taj Mahal Palace Tower, Mumbai.In 2005 the Company acquired on lease The Pierre, a renowned hotel in New York City, to pull in the luxury stop of the developed hotel markets internationally.Introduction Of Taj HotelThe Indian Hotels Company Limited (IHCL) and its subsidiaries be collectively known as Taj Hotels Resorts and Palaces and is recognised as one of Asias largest and finest hotel fellow ship. Incorporated by the undercoater of the Tata Group, Mr. Jam moldji N. Tata, the company opened its first property, The Taj Mahal Palace Hotel, Bombay in 1903. The Taj, a symbol of Indian hospitality, completed its centenary year in 2003.Taj Hotels Resort and Palaces comprises to a greater extent than 60 hotels in 45 locations across India with an giveitional 15 international hotels in the Malaysia, join Kingdom, United States of America, Bhutan, Sri Lanka, Africa, the Middle East and Australia. holiday resortnning the length and breadth of the country, gracing master(prenominal) industrial towns and cities, beaches, hill stations, historical and pilgrim centres and wild bearing destinations, each Taj hotel chaps the luxury of service, the apogee of Indian hospitality, vantage locations, new-fangled amenities and pipeline facilities.Service Segmentation By Taj HotelIHCL operate in the luxury, premium, mid-market and esteem segments of the market by means of the follow ingTaj (luxury full-service hotels, resorts and palaces) is our flagship spot for the worlds most spot stopping pointers seeking authentic experiences given that luxury is a way of bearing to which they be accustomed. Spanning world-renowned landmarks, modern business hotels, perfect beach resorts, authentic Rajput palaces and divulgelandish safari lodges, each Taj hotel reinterprets the customs duty of hospitality in a refreshingly modern way to create unique experiences and spiritlong memories.Taj also encompasses a unique set of iconic properties rooted in history and tradition that deliver truly unforgettable experiencesTaj Exotica is our resort and spa brand found in the most exotic and relaxing locales of the world. The properties ar defined by the privacy and intimacy they provide. The hotels atomic number 18 clearly differentiated by their carrefour philosophy and service invention. They argon centered almost high end discontinueance, intimacy and an env irons that deed overs its leaf node unrivalled comfort and privacy.Taj Safaris ar wildlife lodges that allow travelers to experience the unparalleled beauty of the Indian jungle amidst luxurious surroundings. They cite Indias first and merely wildlife luxury lodge circuit. Taj Safaris provide guests with the ultimate, interpretive, wild life experience based on a proven sustainable ecotourism model. hurrying Upscale Hotels (full-service hotels and resorts) provide a new generation of travelers a modern-day and creative hospitality experience that matches their work-hard play-hard lifestyles. Stylish interiors, innovative cuisine, hip bars, and a focus on technology set these properties apart.The Gateway Hotel ( upmarket/mid-market full service hotels and resorts) is a pan-India ne 2rk of hotels and resorts that offers business and leisure travelers a hotel intentional, keeping the modern nomad in mind. At the Gateway Hotel, we commit in keeping things simple. This is why, ou r hotels are divided into 7 simple zones- Stay, Hangout, Meet, Work, Workout, Unwind and Explore.Ginger ( miserliness hotels) is IHCLs revolutionary conception in hospitality for the value segment. Intelligently designed facilities, consistency and affordability are hallmarks of this brand targeted at travelers who value simplicity and self-service.Taj Hotels also promise a whole new experience of tranquillity and total wellness, throughJiva Spas a unique concept, which brings together the wisdom and heritage of the Asian and Indian doctrine of Wellness and Well-being. Rooted in ancient Indian healing knowledge, Jiva Spas deign inspiration and spirit from the holistic concept of living. There is a well- stiff basket of fresh and unique experiences under the Jiva Spa umbrella of offering, Yoga and Meditation, master and disseminated by accomplished practitioners, authentic Ayurveda, and unique Taj signature treatments. Royal traditions of wellness in service experiences, holistic treatments involving body therapies, enlivening and meaningful rituals and ceremonies and unique natural products blended by hand, come together to offer a truly calming experience.Taj Air, a luxury private jet carrying out with state-of-the-art Falcon 2000 aircrafts designed by Dassault Aviation, France and Taj Yachts, two 3-bedroom luxury yachts which merchantman be used by guests in Mumbai and Kochi, in Kerala.Taj Sats Air provide Ltd., the largest airline catering service in South Asia, as a joint venture with Singapore Airport Terminal Services, a subsidiary of Singapore Airlines.CORPORATE SUSTAINABILITY AND SOCIAL RESPONSBILITYAs a part of Tatas Indias chancellor business house we at Taj Hotels, hold in always believed in corporation and milieu being integral s dole outholders in our business along with our shareholders, nodes, vendors and others.We recruit corporate citizenship through our strategic public-private partnerships which encourage building livelihoods of slight-advantaged youth and women. The causes we boost include reducing malnutrition, promoting indigenous artisans and craftsmen and enhancing employability of identified target groups by communion our core competencies as a starring(p) hospitality company. We encourage cooking and development of differently able youth.We at Taj have the unique scope and prospect to develop raw potential into a skilled men that is immediately employable by various players in the industry. A absolute majority of our community projects are focused around extending our profound strengths in food production, kitchen trouble, housekeeping, customer service and spas to promote economic em index fingerment of candidates from vulnerable socio-economic backgrounds. We are fully sendted to the cause of building a sustainable environment by reducing the match of our daily operations on the environment and improving operational efficiencies, resource conservation, reuse and recycling of key reso urces. visual senseThe Taj Group of Hotels commits itself to the overall improvement of the ecological environment, which we are all a part of. We sleep together that we are not owners entirely guardtakers of the Planet and owe it to our children and future generations of humankind. It is our endeavour not merely to con resolve and protect but also to renew and regenerate the environment in which we live and operate.Our consignment encompasses all actions connect to our products, services, associates, partners, vendors and communities.We volition partner and engage with our environment through nation Environmental knowingness and Renewal at Taj Hotels. For us EARTH is not a program, nor a process it is a way of life.EARTH( Enviornment Activities)In an endeavour to reinstate its vision and efforts to boost sustainable tourism, Taj Hotels Resorts and Palaces presented EARTH (Environment Awareness Renewal at Taj Hotels) this year. Implementing schemes such as the Gangroti Glac ier Clean-Up Expedition, as well as designated Earth rooms, which minimise environmental impact, Taj is one of Asias largest group of hotels to commit to power conservation and environmental management. EARTH has received certification from Green Globe, the but worldwide environmental certification program for travel and tourism.The Taj began a carbon ago with a single landmark The Taj Mahal Palace Hotel, Mumbai. Today, the various Taj hotels, in all their variety and historical richness, are recognised internationally as the symbols of true Indian hospitality. The Companys history is integral to Indias emergence into the global business and leisure travel community and looking to the future, Taj Hotels Resorts and Palaces is well positioned to assume the increase in travel activity with the rapid expansion of the Indian economy.Taj Hotels has get together the internationally-recognised Green Globe benchmarking and certification system as an extension of its living environmen tal policies. Taj Hotels has long recognised that as a leader it has an important contribution to make and a responsibility to demonstrate to others how they can be part of the fight against climate change. incarnate GovernanceTaj has been practicing good Corporate Governance even before Securities Exchange Board of India (SEBI) do it a mandatory requirement from 2001.Out of more than than 5000 companies listed with the Bombay Stock Exchange the Company is categorized as an A Group Company which group comprises only 200 companies and the criteria for selection is based on Market Capitalisation, Liquidity, Industry Representation, Listed History and track record of Compliance.Being a TATA group Company, the Company goes beyond the mandatory requirements of Corporate Governance and conducts business in a reliable and transparent manner. It avows good adornor relationships and endeavors to deliver to investor consistent quality services. customer facilitiesTaj Hotel Exotica Resort Spa Maldives, is an exclusive, private and romantic island resort lush with tropical plants and encircled by clear blue waters of one of the largest lagoons of the Maldives. Taj Hotel Exotica Resort Spa Maldives spreads idyllically along a pristine beach and the serene lagoon. The award-winning resort, now re-launched, seamlessly extends the magic of the islands blessed natural beauty in its design even as it offers the finest contemporary luxuries and services.Taj Hotel Exotica Resort Spa Maldives offers 59 cortege and 3 Suites. All the rooms are completely refurbished and redesigned. 90% of the accommodation is built over water and 10% is on the beach front. The rooms offer infinite views of the Indian Ocean. Taj Spa, an authentic Indian spa, offers a vomit of signature wellness experiences. A choice of gourmet cuisine, water sports, and pastime make for a complete and exclusive destination.Room FacilitiesAir knowingSatellite TelevisionInternational Direct Dial Telephone c landestine BathroomHairdryersMini BarSafe Deposit Box24 Hour Room ServiceCoffee/Tea Making Fac spirited Speed Internet AccessCoffee/Tea Making FacilitiesHotel Facilities locomote DeskDoctor On CallLaundry ServiceConcierge DeskLuggage memory board24 Hour Front DeskPostal/Parcel Service capital Exchange CounterBaby Sitting Service(On Request)Airport Shuttle Service(On Request) eat Entertainment24 DegressEquator BarIn Villa DiningThe Deep EndSports LeisureSpaWater SportsFitness CentreBilliards/Snooker Tables merging Facilities backup CentreSWOT AnalysisStrengths-The group has enormous power and strengths, which ma kes it the exceed and competitive, some of them areIt consists of 57 properties in 40 locations across India and 18 international hotels.Its stylish variety of hotels like Taj exotica, Taj safari, The entre hotels, Ginger hotels, Jivas spa etc.Its effective and efficient management techniques and staff.Its brand make out.The charge of Taj Hotels, Resorts and Palaces in various countries like United Kingdom, France, Germany, Italy, Dubai, Singapore, Australia, Japan, Russia and the United States of America.Securing management contracts at Palm Island, Jumeirah in Dubai,Saraya Islands in Ras Al Khaimah, Aldar Group in Abu Dhabi, UAE Langkawi in Malaysia and Thimpu in Bhutan.The various initiatives taken like rollout of CustomerFeedback System, Tata Business purity Model, IT initiatives, Ginger hotels etc.WeaknessTaj hotels being such a big brand, has a lot of advantages but every big company faces some odds and so does Taj. Some of its weaknessIts hard to maintain such a huge drawing string of subsidiaries and there are more chances of mishaps in management.Its huge competitors like Oberoi, Leela, Oriental, ITC etc are also providing same facilities and gum olibanum it becomes a weakness for Taj hotels.Its very costly for the Indians to afford the tariffs and service charges set by Taj hotels. Thus, they loose a major part of their market share. They subscribe to a lot of investment.As Taj hotels is a popular group, it is always in the eyes of the terrorists, as taj has already faced such an incident. Therefore, it proves to be a weakness some times, to be so popular.OpportunitiesThe Group is poised strategically to take advantage of the following situationIn the backdrop of a healthy economy having its positive fallouts on the TourismSector leading to rapid ontogenesis in markets in India, South Asia and key introduction citiesin source-market destinations.Rapid expansion in both International and domestic help destinations, with top-of-the-line Luxury, Leisure and Business properties.Meeting growing charter in the cypher and mid-market segments.Extending the product portfolio into related offerings viz. luxury residences, wildlifelodges and health spas.ThreatsThe threats identified by the Group are related mainly to the markets in which the Groupoperates and oecumenical factors related to the tourism industry. Sign ificant among these areCheaper international airfares, increasing affordability of travel to Internationaldestinations, especially South East Asia, Europe and Australia.Growing presence of international hospitality chains competing in the Luxury andBusiness segments, to meet excess demand situation.Appreciating Indian Rupee vis--vis the US Dollar, resulting in turn down realisation onforeign exchange earnings.Slowdown of international demand resulting in reduction of revenues.Future StrategiesUrban Sanctuaries Luxury Weekends from the TajCity EscapesIsland Escapes restore with JivaChristmas and New Year breaksSome more developments in progress areTAJ opens its 5th hotel in BangaloreTaj Coromandel presents ANISENo Room for the Ordinary advertise campaignTaj Residency Bangalore unveils Jiva SpaHeritage Nature Walk At The Taj West End, BangaloreBhairo,The Stunning New Rooftop Restaurant At Taj Lake Palace,UdaipurIntoxicating Bhutanese Bath At Taj Tashi, Thimphu, BhutanTwo More Taj Safari Lodges Will indeterminate In 2009Taj ValuesPEOPLE DIVERSITY, INTEGRITY RESPECTPASSION FOR truthEXCEED EXPECTATIONSINNOVATIONSENSE OF URGENCY ACCOUNTABILITYSOCIAL tariffJOY AT WORK concourse are our greatest plus and the key to our success.We respect diversity of people, ideas, cultures and honor the value of individuals in a team.We believe in perfection to achieve excellence.We continuously improve processes to chastise global benchmarks.We succeed by exceeding expectations of all stakeholders and protecting the chase of our shareholders and playing by the rules.We encourage innovation, embrace change and support growth through knowledge and learning.We accept responsibility and deliver on promises with a sense of urgency and agility.We commit to improve the quality of life of the communities we serve and our concern for the environment by returning to society what we earnWe recognize and respect each other in all interactions and set the type for our guests, business associates and colleagues.We encourage a fair environment that supports equal opportunity to attract, develop and retain the best talent and endeavor to have delight too.Taj PromisesAt the Taj Group, our commitment to service excellence is rooted in our two guiding principles called the quaternion Steps of Service and the Taj People Philosophy. One of our key priorities is to empower our people to deliver on our legacy of impeccable service.Four Steps of Service1. A warm and sincere welcome. Use the guest hold, whenever possible.2. Fulfill guest needs and provide anticipatory service.3. Defect wanton products and services.4. Fond farewell using the guest name, whenever possible.Taj People PhilosophyThe Taj People Philosophy displays our commitment to and belief in our people. We see Talent management as the most important sustainable competitive advantage in the future.You are an important member of the Taj family.We endeavor to select, retain and compensate the best talent i n the industry.We reward and recognize quality customer care based upon individual and team performance.We commit to providing you with opportunities for continuous learning and development.We dwell by fair and just policies that ensure your well-being and that of your family, the community and the environment.We commit to regular and formal channels of communication, which nurture openness and transparency.We strongly believe that you are the Taj.Key InitiativesGinger HotelsIHCL is in the process of rolling out its Smart Basics hotels, under the brand name Ginger. The first range has been launched in June 2004 in Bangalore, with roll out being planned in a number of cities and towns subsequently. These hotels ordain cater to the economy or value for moneysegment and being pre supremely domestic clientele based, are far less prone to fluctuations than the luxury and upscale segments. In the long run, thissegment impart help in derisking the current revenue stream of the company. Brand computer architectureIHCL is in the process of clearly defining the product and service bills in order to have consistency across properties under each brand. This will help in further enhancing the brand value of Taj.Product UpgradationIHCL continues to invest in renovation and relaunch of key / brand defining properties. In the last financial year IHCL upgraded rooms at the Taj Mahal Palace Tower, Mumbai and Taj West End, Bangalore The entrance hall and public areas of Taj Lake Palace, Udaipur and Rambagh Palace, Jaipur were also renovated to provide a luxurious sense of arrival. The sea Lounge and Harbour Bar at Taj Mahal Palace Tower, Mumbai was relaunched, while a new Vietnamese restaurant Blue Ginger was opened in Taj West End, Bangalore The renovated products and the new outlets were very well received in the market. The renovated rooms at Taj Mahal Palace Tower, Mumbai and Taj West End, Bangalore have emerged as the price leading in the respective cities. In the coming year IHCL intends to open a number of FB outlets by celebrity Chefs with international cuisine. In the upscale segment, the properties are being relaunched to be at par with international level upscale hotels. The rooms at Taj President, Mumbai, Taj Residency, Bangalore, Jai Mahal Palace, Jaipur and Taj Holiday Village, Goa are being renovated and relaunched.Service ExcellenceIn the last few years IHCL has undertaken a number of stairs to significantly enhance service levels to be in line with the best in class. IHCL has constantly benchmarked itself with the key international luxury chains and strived to arise the bar. IHCLs service excellence philosophy, has at its core, delivery through our people, processes and culture.IHCL has taken a number of steps to provide passing personalized service to the knowing customer, including butler services in its luxury properties. In order to take care of the entire stay experience, IHCL has also completely revamped its Concierge se rvices. The Centers of Excellence have been strengthened considerably to train staff to meet the exacting standards of a truly luxury hotel. Tata Business Excellence Model (TBEM) will play a significant role in raising the bar of service provided. The TBEM has been rolled out in all the three hotel divisions and will be rolled out to the international properties also.Tata Business Excellence Model (TBEM)In order to intensify the drive for Business Excellence, IHCL conducted Internal Assessments based on the Tata Business Excellence Model for Luxury, Leisure, Business SBUs as well as for Taj SATS Air Catering Limited. The Luxury Division has also applied for away Assessment, which is to be facilitated by Tata Quality Management Services. Based on the outer Assessment (2003) feedback report and the feedback from the Internal Assessment, action plans to improve processes which finally impact the overall organizational effectiveness, have been drawn out and worked upon. Some of the ke y initiatives deployed across key hotels of the Taj group in the year 2003-04 areRollout of the Customer Feedback SystemThe CFS was launched in November 2003 and has taken root in 30 hotels across Taj group. It is the primary and sole customer feedback system of the group. Till date, the system has clocked around 12,000 pieces of customer feedback. The feedback from all sources gets recorded and aggregated and analyzed to improve the service quality in areas of concern at each of the hotels. Feedback is not restrict to only guest difficulties (complaints) but also consists of compliments and suggestions. The feedback would ultimately be used for product planning as well.IT initiativesFrom a situation in 1999 where there was limited IT application, Taj group has today achieved domestic leadership in deploying IT to leverage its competencies and is rapidly approaching benchmarks set by international highly regarded chains. The first three phases of implementation of the IT strategy i ncluded putting in place the physical infrastructure across the Taj Group and getting customer relationship applications to ride on this physical infrastructure, with a view to enhancing customer services through customer information and recognition systems and better gillyflower management. Some of the key IT initiatives being under taken by IHCL are Orion, a comprehensive back office system, implementing Revenue Management system, synergistic TV Systems and National Call Center.CompetitionA Tata company shall fully strive for the establishment and support of a competitive, open market economy in India and abroad, and shall cooperate in efforts to promote the progressive and judicious liberalisation of trade and investment by a country. Specifically, a Tata company shall not engage in activities that generate or support the formation of monopolies, dominant market positions, cartels and similar unfair trade practices. A Tata company shall market its products and services on its o wn merits and shall not make unfair and lead astray statements closely competitors products and services. Any collection of competitive information shall be made only in the normal course of business and shall be obtained only through legally permitted sources and means.Direct Competitors1. Oberoi Hotels2. Oriental Hotels3. ITC Welcomgroup4. Hotel Leela etc.Potential set market The upper class of the society is targeted. i.e. the richer people in the society. Their fares or tariffs are high as the luxuries provided by them are also standard and 5-star. Thus, this is in context to the Indian branches of Taj Hotels.STRATEGYTaj group has used the Taj name for all its operations to leverage the brand equity commanded by the name Taj.Taj brand is playing an increasing role of driving revenuesTaj group plans to add around 12 Hotels in the next 3 years .Taj facilitates the expansion to other segment by endorsing the sub-brands with their parents brand names.MARKETING STRATEGYA higher e mphasis was placed on the business segment as the profits are higher (this market being less price-sensitive) as compared to the luxury segment.There was a proliferation of the Taj Presidency hotels not only in new cities, but also smaller towns.The action plan is more opportunities, adding to and complementing the brand.INNOVATIVE MARKETING SERVICESSTAY A BIT LONGER- If a customer book 2 nights or 3 with Taj hotels, then they storm to customer with a complimentary nights stay at select hotels. archaeozoic BIRD OFFER- Say at any of Taj properties ranging from modern business hotels to idyllic beach resorts to authentic Rajput palaces, 10 days in advance and usefulness the Early Bird Rate to enjoy savings of 20% over our Best Available Rate (BAR).SUITE SURPRISES Book between 1-4 nights in Taj Suites and enjoy a free nights stay. Luxury at the Taj isnt only about indulgences, but advantages. Book 1, 2, 3 or 4 nights in our dread Suites, featuring impeccable interiors and classic s tyle, and enjoy a complimentary nights stay.TAJ SAFARIS are wildlife lodges that allow travelers to experience the unparalleled beauty of the Indian jungle amidst luxurious surroundings. They offer Indias first and only wildlife luxury lodge circuit. Taj Safaris provide guests with the ultimate, interpretive, wild life experience based on a proven sustainable ecotourism model.TAJ AIR, a luxury private jet operation with state-of-the-art Falcon 2000 aircrafts designed by Dassault Aviation, France and Taj Yachts, two 3-bedroom luxury yachts which can be used by guests in Mumbai and Kochi, in Kerala.BUSINESS EDGE At the Taj, business is not just unconventional, but valuable. Alongside the quintessential fusion of business and pleasure, you will also enjoy unbelievable savings and benefits on our traditional hospitality and exceptional service that are sure to leave you pleasantly surprised.breakfast for two (single/double same rate)Hotel Credit of Rs 2000/- per stay against FB, laundr y, or spa (where spa services are available)KEY SUCCESS FACTORSTechnology related-Used of advance technology in hotel premises.Manufacturing- related High utilization of fixed assets. Quality control know-how. Serving customer according to their specification.Distribution-related Presence of hotel chain at various places. A strong network.Marketing related extensiveness of product line and product selection. Personalized customer services. A long-familiar and well-respected brand name.