However, the scales could tip soon. 3. Please join StudyMode to read the full document. Customers were also asked to rate the importance of these services as well as their satisfaction level with these services at Ginger, and whether they would be willing to revisit Ginger. They are also willing to pay extra for services like bell boy. However, this model works on the startup, total life-cycle and post-purchase costs and faces criticism of not necessarily representing the buyer’s perception (Gaining sustainable competitive advantage through strategic pricing: selecting a perceived value price, Kenneth N. Thompson and Barbara J. Coe- Pricing strategy and Practice, Vol. SMART BASICS CONCEPT GINGER HOTELS Strategy adopted by Ginger hotels Introduction: Ginger’s chief differentiator is the concept of Smart Basic The Ginger Hotels are built around a unique concept that provides facilities to meet the key needs of today's traveler, at surprisingly affordable rates. gingerhotels. A variety of Yield Management softwares are also available that are frequently used by global hotel chains. The results provide an important reference for the managing strategies of international tourist hotels. 1997). 20 important things hoteliers should know to attract corporate guests and bookings. , 2011; Bull, 1994; Israeli, 2002; Wu, 1999). Having started its first hotel in the year 2004, it has already gained a foothold in the market thus becoming a strong candidate for our research on pricing strategy and its effect on the market share. 2. Some other chains like Holiday Inn Express are in the pipeline towards setting up chain of economic hotels and Ginger’s performance could be better judged then. "The purpose of strategy is to be really clear before you take the direction. (Jul. Nor can superior performance of team members be honed within weeks. Ginger An Overview of Health Benefits Keith Singletary, PhD Ginger (Zingiber officinale Roscoe) is a member of the Zingiberaceae family of plants. 2011. 14. ,2011). Availability of seasonal discount/loyalty program. 999 at all locations, at all times during the year. • Oberoi Group of Hotels(East India Hotels) 95 or Rs. • Radisson hotels & Resorts The generic strategy Ginger hotel came into existence as one of the greatest innovative concepts of IHCL group. This would also help us know the facilities provided by Ginger and online booking process. This includes costs of other necessities such as meal charges, taxes, service charges. Overview Overview. Hence, it seems that the need to provide more value added services is being recognized and worked upon by Ginger Hotels. After having largely tapped the B2B market, Ginger Hotels now plans to shift its focus to the B2C market and directly tap consumers by strengthening its online presence, call centers and partnerships with online travel firms. The second source of data was the Ginger Hotel personnel. Price vs Service Level P R I C E S E R V I C E ModerateHigh OBEROI THE GRAND HYATT J W MARRIOTT ORCHID TAJ MAHAL 17. 4 Benefits--Photos. WiFi| Respondents felt Wi-Fi should be a free service if present| | Primary and Secondary Surveys: Research (using Internet and by speaking with managers) was carried out to find any patterns with regards to the following pricing strategies that may be being followed by Ginger and other economy hotels: 1. American Economic Review 81 (1), 224–239. Also, the operating staff is minimal. Gallego, G. , Ryzin, G. , 1994. Ginger Announces The Signing Of Its Second Hotel In Guwahati Ginger announces the signing of its second hotel in the city of Guwahati. Overall a cloud-based PMS will give you more control over your hotel business, with: An extra degree of customisation; Reporting and data analysis capabilities; Integration with other third-party systems like OTAs and booking systems; Ease of access through any location and device; It’s a key feature of any successful hotel management strategy. 7 /16 (Not equal to IR* DR as DR was available only for those who visited Ginger)| Table 2: Service Name| Average Stated Value, VS (Rs. 2. Ginger Hotels 7461 Words | 30 Pages. In particular, both in the mid-week and in the weekend date, last minute booking is characterized by a higher price differential between high star and low star hotels (Abrate G. et al. Public Sector Players: Ginger Hotels is a Tata Enterprise, which differentiates itself from the rest of the Tata Group Hotels by being a ‘Smart Basics Hotel’. 95 or Rs. Thus, it is found that a large number of hotels employ dynamic pricing of which the composition of the clientele is the main driver. It advocates say that it can be used to gauge the degree of "fit" between the organisation's strategies and its environment, and to suggest ways in which the organisation can profit from strengths and opportunities and shield itself against weaknesses and threats (Adams, 2005). The Reimagined GINGER experience brings together attractive public areas as well as spots designed for solitude, allowing the smooth transition from one to the other. , 2006). 0| Average Felt Deficit at Ginger| 7. Hence, the strategy employed by Ginger Hotels to stay away from large investments in traditional modes of commercial promotions worked in their favour, with most of their customers being brought in through their alternate methods of propaganda. Stowe Shoemaker, Robert C. Lewis, 1999, Customer loyalty: the future of hospitality marketing, International Journal of Hospitality Management, Vol 18. Demographical situation becomes worse CONCLUSION 1. We hypothesize that as Ginger is a low-cost, smart-basics player, which doesn’t invest substantially on commercial promotions, the key sales driving force are the price based promotional offers provided by them. The hotel will be designed around the brand’s lean luxe philosophy of offering a vibrant, contemporary and seamless hospitality experience to its guests. Ginger announces the milestone of its 75 th hotel with the signing of the brand’s second hotel in Aurangabad, in the state of Maharashtra. REFERENCES i. Elements of SWOT Analysis Special last minute rates 5. Whether they are guests, team members, or partners, together this spirit will not only foster a stronger Ginger brand but more importantly give rise to a stronger ‘Brand India'. 3 keys to an effective hotel distribution strategy. At a time when five star hotels were considered as luxury hotels and everything else was a Budget hotel; Ginger hotels created a new category. SANCHIT VERMA 11P163 By Stacy Collett BY: KALYAN 11P162 SANCHIT VERMA 11P163 SAURABH MANDHANYA 11P164 No. Less competition in the branded budget sector 6. Value perception may also be calculated by using the service importance rating and stated prices. Objectives ii. Slightly smells like fried food because of ma'ono window, but I don't mind it that much. • ITC Welcome Group of Hotels The Top Players in Hospitality Sector For analyzing and strategizing we should consider the following points: As Strength and Weakness we should answer the question: what can we do? Journal of Hospitality Mgmt. 262-82. Also, Wi-Fi, Gymnasium and TV are provided for free at all locations. First Watch recently found success with its “Day Glow” fresh juice, featuring carrots, oranges, lemons and a hint of ginger. A stochastic EVA model to estimate prices that may yield minimum/maximum desired margins is also presented in the above citation. GINGER HOTELS: PRICING MIX AND STRATEGIES AND THEIR EFFECTIVENESS (In assistance with Dr. Avinash Kapoor) BY: ROHIT SHARMA 11P161 S.P. H2: Loyalty programs, seasonal discounts and group-on discount strategies employed by Ginger Hotel’s are the key sales driver. Later, in this study we would use stated (by customers) prices (for services) to estimate value perception for certain services that have been shown to affect prices (determined by regression techniques). 2 Interviews. This is environmental analysis, which include external and internal issues. IMPLICATIONS OF RESEARCH 10. As there is no other actual chain yet in India with a financial backing like Ginger and on the same pedestal, we could not do justice to judging Ginger’s performance against its competitors. Thus helping us ascertain that the techniques employed by the other players in the Indian hospitality sector were not effective when it came to Ginger hotels. It could also help Ginger tweak the ineffectiveness if any to prevent the loss of market share. 1. Further, buyers are predisposed to perceive quality and value with brands they have had a prior reinforcing experience with (Herbig P. et al. Our hotels are all set to make your stay fuss free and surprisingly affordable. This will be the second Ginger hotel in the state. Your worst nightmare as a hotelier is walking down the halls of your hotel and realising that rooms are empty. Hotel Ginger Tree Beach Resort: 3/10 overall - See 182 traveler reviews, 131 candid photos, and great deals for Hotel Ginger Tree Beach Resort at Tripadvisor. 4 The hotels were to employ skeletal staff; services such as facility management, maintenance, and food and beverage services to be outsourced. Competition driven pricing may be flawed in the assumption that competitors know the value customers place on offerings (Danziger et al. While the brand was mainly into the hotel business, it forayed into various other areas later. Although customers seem satisfied with the prices and the services offered, there seems to be a certain level of dissatisfaction and they seem willing to spend more if more value added services are made available. SWOT Breakdown They were interviewed to gather information about the pricing statergy which is currently employed. Pricing and brand recall are two factors that affect customer choice. - Bad organisation of intermodality (connections between transport systems) Availability of several new markets for expansion. Interaction with Managers: The managers of a few Ginger hotels were contacted through telephones and personal visits to find out about any corporate or bulk offers available. Economy segment customer ranks his real needs higher than delight needs (value add services). The case study traces the journey of Ginger Hotels which in 2012 has a pan India presence and has maintained its positioning by understanding and implementing the correct marketing mix. We further attempt to establish if these pricing methods bring the customers to satisfaction. All these questions were asked to gauge the general perceived value of add on services. ijhm. Pride Hotels and ITC both make an average of 3 posts a day, while Orange County does not make even a single post on most days and a quick glance through its social profiles clearly shows there is no content strategy in place as well. Large land resources. Facilities are minimal compared to other similarly priced unbranded hotels. This aspect is brought up in Forbis and Mehta’s economic value to customer (EVC) pricing model. Opportunities and threats deal with factors external to the company. 12. Owned and operated by the Tata Group, Ginger Hotels is the first-of-its-kind of Smart Basics™ hotels across India. • Economics - Initiative of local municipal authorities, arranged cultural-educational network and possibilities of development. - Variety of exports possibilities. indiatimes. Sample size for the survey was required to be large to get a better picture but we could not find many people fitting or satisfying the pre-requisites for answering our survey due to difficulty in availability of the same. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. SWOT analysis is an important step in planning and its value is often underestimated despite the simplicity in creation. 15. Early booking discounts 2. Thus, the customer is more satisfied than dissatisfied with value add services. No one knows who first invented SWOT analysis. Tourism Management 32, 912–921. This is because Ginger enjoys kind of a monopoly in a branded economic hotel segment. It has features in strategy textbooks since at least 1972 and can now be found in textbooks on marketing and any other business disciplines. Some of the popular transit points from the hotel are Biju Patnaik International Airport (5.6 kms) and Biju Patnaik International Airport (5.6 kms). Considering what do other expect us to do? Recommendations Introduction Ginger hotels are subsidiaries of the Indian Hotels Company Limited (IHCL). Entering the 21st century, the global tourism industry has grown rapidly. Thus another survey may be required to be absolutely sure of the perceived value of a service. 2) A proud/impressed employee so he may view the business trips as an added incentive of the job. - Signed 40 hotels pan India, having a revenue potential of Rs. (Strengths and weaknesses) They also advertise in newspapers dailies occasionally though this method too does not prove to be highly effective. Instead of telling guests what they will experience when … Restaurant menu is limited and food is not generally appreciated. Strengths iv. Bolen, W. H. , 1982. - Inventory of environmental conditions is never made When it was closed under construction the entrance looked a little small, but now that I'm in the space, it's nice! HYPOTHESES 5. Relative to market needs and competitors' characteristics, a manager must begin to think in terms of what the... ...SWOT ANALYSIS 2 1000 in this year’s budget) LITERATURE REVIEW Hoteliers frequently find themselves unable to maximize hotel profits via cost control in real world situations. Stephan A. Butscher, 2009, Managing hotels in the downturn: Smart revenue growth through pricing optimization, Journal of Revenue and Pricing Management Vol. The internal strength is analyzed with... ...SWOT Analysis of Virgin Group 75| Valet| 63| 72. 3. It could help incoming brands formulate a strategy 2. We also move this ahead and try to determine the extent to which the pricing strategy implemented by Ginger Hotels affects their customer’s value perception. Our analysis starts with a study of the different price strategies commonly used in the services and hospitality sector. They have to spend more time on price decision making (Kim et al. In case of a hotel, the real needs of the customer include a hotel which does not eat sharply into his//her pocket i. . However it eventually had to move to dynamic pricing like all other hotel chains to cut losses. , 2006). The common forces which drive sales and attract customers within the hospitality industry are usually the television commercials and newspaper advertisements used by the industry player, their participation in trade shows and similar activities. SWOT analysis: Strengths: . In essence, full service up-market hotels tend to use whole dollar pricing while limited-service, economy hotels tend to prefer a pricing strategy of using dollars followed by cents, prices that end with cents such as ‘‘0. /night)| Average Perceived Value, VP (Rs. However they also place importance on delight needs and feel that some value added services are missing and should be provided. 1016/j. 19, 1999) In order to swat the competition you need to understand SWOT. Customer profiles provide a valuable source of information to develop strategies. The then Managing Director of IHCL also said that a Ginger Hotel will opened in different cities every six weeks on an average. It is our view that customer may be of the opinion that such discounts exist at already higher prices and do not necessarily offer better value to the customer. Strong brand presence. 5(1),1997, 25-29 19. Search and compare Long Beach, WA hotels and accomomodations using our interactive hotel finder. Customers were also questioned whether they would be willing to pay a little extra to personalize their packages to enrol for certain value add services that may be overly important to them as well as the amount that they would be willing to shell out. The article also covers top Ginger Hotels competitors and includes Ginger Hotels target market, segmentation, positioning & Unique Selling Proposition (USP). : Ginger Pune (Pimpri) - See 474 traveller reviews, 71 photos, and cheap deals for Ginger Pune (Pimpri) at Tripadvisor. Subcontractors and agencies deploy aggressive strategies to increase their profitability and control over labour and as a … Results Our research involving analysis of tariff rates of Ginger and other economy hotels shows that even though Ginger follows a price-ending strategy, most of the other economy hotels in India do not. 4. Business travellers growing in number in India due to growing economy. 0| Average Importance of Value Add (Delight) Services (IR)| 3. Scale/ Presence. 5. • Customers The customer’s value perception, that we calculated, lets us assess how satisfied the customer is with the services being provided at Ginger Hotels. What resources and capabilities do we want to develop? Kenneth N. Thompson, 1997, Gaining sustainable competitive advantage through strategic pricing: selecting a perceived value price – Pricing strategy and Practice, Vol. Jui-Kou Shang, 2010, Pricing determinants in the hotel industry: Quantile regression analysis, International Journal of Hospitality Management 29 (2010) 378–384 22. A product of the two (rating of importance, 1 to 4, and satisfaction 1 to 5 converted to dissatisfaction 0-4) would help us calculate a “felt deficit” that may discourage customers from revisiting the hotel despite a possible fulfilment of real needs, thus firmly establishing whether or not importance of delight needs may overpower importance of real needs for an economy customer…………………………………………………………………………………………. Anthony Ingold, Ian Yeoman, Una McMahon-Beattie, 2000, Yield management. GINGER HOTELS: PRICING MIX AND STRATEGIES AND THEIR EFFECTIVENESS (In assistance with Dr. Avinash Kapoor) BY: ROHIT SHARMA 11P161 S.P. Star rating and corporate affiliation: their influence on pricing hotel rooms in Israel. The customers were also asked about whether they would be willing to pay extra for certain value add services and if so, then how much. Pricing a motel’s location. An effective pricing strategy that enhances the perception of value is the price-endings strategy. As a result, even if the delight needs are not being met by Ginger, it does not prevent them from being regular customers of Ginger’s service as their real needs of in-budget boarding and lodging are met beyond their expectations. tariffs of other identified economy hotels offering a similar set and quality of services – gym, restaurant) 5. 10 Smart Hotel Marketing Strategies to Increase Bookings Margot Whitney Last updated: September 1, 2020 Industry Insights There are two types of people: those who love staying in hotels and those who hate it. INTRODUCTION i. It is a distinctive competence when it gives the firm a comparative advantage in the marketplace. H. G. Parsa, 2006, Pricing strategies to maximize revenues in the lodging industry – Hospitality Management 25(1), 91–107. 5| 95. Prentice-Hall, Englewood Cliffs, NJ. gingerhotels. 2. Ginger Hotels | 29,905 followers on LinkedIn. rediff. htm 38. http://www. The generic strategy iii. 8 / 2. • Hotel Leela Venture EXECUTIVE SUMMARY Strengths Lack of a strategy for development of ports With this study we intend to find out, to what extent pricing strategy affects value perception and provide a loose set of services that new entrants (of the sector) should bear in mind when formulating a pricing strategy for the budget segment. Overall a very good hotel! Optimal dynamic pricing of inventories with stochastic demand over finite horizons. KALYAN 11P162 The effect of brand and price information on subjective product evaluation. Thus, a regression based approach would be easier to follow. tajhotels. - Stationary trade Our strategy for high-quality growth focuses on strengthening our diverse portfolio of differentiated brands, building scale in key markets, creating lifetime guest relationships, and delivering revenue to hotels through the lowest-cost, direct channels. Justification: The Indian low cost hospitality segment is expected to grow by 50% in the next four years. 8. The hotels' modernized design was first introduced at the Goa location. Fei-Ching Wang and Jui-Kou Shang and Wei-Ting Hung, 2010, Pricing determinants in the hotel industry: Quantile regression analysis, International Journal of Hospitality Management 29 (2010) 378–384 16. What do we want to do? Nagle and Holden (1995) contend that a more profitable approach to pricing is value-based pricing. Ginger Hotels makes the most number of posts in a day, with an average of 3-4 posts which tend to be spread out over the course of the day. The goal is to identify all the major factors affecting competitiveness before crafting a business strategy. 99. 7. Overview Ginger Hotel Bhubaneshwar is a good choice for travellers looking for a 4 star hotel in Bhubaneshwar. 18) explains how loyalty can be managed through the loyalty triangle. Tradition in industry and an availability of labour force. Value based pricing (whether perceived value of value add services similar to those estimated by our calculations were being added to packages before being offered by hotels) 7. Large open window even though there's no patio space. 2. Satisfying a combination of these needs brings value perception to customers. Although, such a strategy may not fit entirely with Ginger’s strategy of a generalized set of services across all Ginger branches to reduce costs, the customer’s response seems to prove the popularity of such a strategy. But let’s take a step back and look at the people who have to pay these prices. 25. Euro-pean Journal of Operational Research 121, 476–503. Moorthy, K. S. (1985), Using game theory to model competition, Journal of Marketing Research, Vol. Introduction ii. Martinez-de-Albeniz, V. , Talluri, K. 2011. 0| Average Dissatisfaction with Value Add Services (DR) at Ginger| 2. 2 Launched initially as IndiOne in Bangalore (2004), Ginger Hotels were the first of its kind of NextGen hotels to use the SmartBasics concept. Brand name is an important factor in attracting customers and attaining customer loyalty. Strategic hotel PPC and display ads. Dynamic Pricing: Ginger employed static pricing for a few years after its launch. htm 35. http://www. Perceived value pricing models work on the idea that more than the hotelier’s cost it should be the customer’s perception of the value of service that should drive the price. Here’s the breakdown of SWOT by internal and external variables: Celebrate this milestone with Ginger here: Celebrating 75 Ginger hotels! Peak/discounts in weekend rates 4. This suggests strategic behaviour, with hotels adapting optimal prices according to competitor room availability. Customer response analysis: Table 1: Customers preferring customization of services| 95 %|, Customers willing to pay extra for value add sevices| 75 % (Definitely)15%(Maybe)| Average experienced Value for Money at Ginger| 1. Their prime focus is on providing key facilities that meet the key needs of the customer. With value-based pricing, the pricing approach is reversed from cost-based pricing. What opportunities can we develop? There’s no question the hotel industry is a vast sector that is responsible for trillions of US Dollars in the form of revenue. It is opened as Strengths, Weakness, Opportunities and Treats. For example, if you want your hotel to be trendy and steeped in innovation, you should think of marketing your property to young travellers and couples. BUDGET HOTELS :• It is India’s first of its kind chain of Smart Basics hotels.• There was strong evidence that the online mode facilitated a higher RR(revenue per available room). Cost based pricing can lead to over/under-pricing problems (Collins and Parsa, 2006). - > 100 km of virgin beach. - Existence of a powerful technical basis and building firms. RESULTS 7. SWOT identifies the internal and external factors that affect an organization. Effectiveness: Most costumers feel that they get value for money when they stay at Ginger. Research Implication: Insight into pricing strategy of Ginger; its foray into Indian Market and effectiveness of the same. Furthermore, a variable approximating demand shocks at the city level was created and proved to significantly affect hotelier pricing dynamics. The point of a SWOT analysis is to have the best shot at... ...GINGER HOTELS: (Stowe Shoemaker, Robert C. Lewis, 1999, Customer loyalty: The future of hospitality marketing, International Journal of Hospitality Management, Vol. Instead, on a weekend, when the number of leisure customers is predominant, prices tend to increase when approaching the check-in date. Xotels is an international hotel management consultancy company specializing in independent, boutique and lifestyle hotels. Also, pricing is affected by the number of hotel rooms available with scarcity of rooms demanding higher price (Gallego and Ryzin, 1994; Badinelli, 2000). Ginger Hotels Name Grade Course Tutor’s Name 25-3-2013 Outline i. Another problem is that SWOT, having been conceived in simpler times, does not cope very well with some of the subtler aspects of modern strategic theory, such as trade-offs (De Witt and Meyer, 1998). Hypothesis 2: Based on our primary and secondary survey we did not reject our Hypothesis two (H2- We concluded that only 15 percent of our respondents had heard about Ginger Hotels through conventional commercial channels like newspaper and television advertisements. It also aims to explore the value for money as experienced by customers of Ginger as well as to ascertain what key services make up for a satisfying experience in a budget hotel. It has been a part of healing strategies in Asia, India, Europe, and the Middle East for centuries for treatment of such disorders as arthritis, stomach upset, asthma, diabetes, and menstrual External factors Cost-based pricing: A financially driven approach to pricing in which products are priced to yield an equitable profit above and beyond all costs associated with the production of the product. • Indian Hotels Company Ltd.(The Taj Group of Hotels Resorts & Palaces) Their prime focus is on providing key facilities that meet the key needs of the customer. However, whatever be the perceived value, the results – that the customer would be willing to pay extra for such services, have been conclusive. CONCLUSION 8. Strategic Management in a Hotel, 50 pages, 1 appendix Saimaa University of Applied Sciences Business and Culture, Imatra Degree Programme in Tourism Bachelor’s Thesis 2012 Instructor: Samuli Nikkanen, Senior Lecturer, Saimaa University of Applied Sciences The aim of this research was to observe features and factors that affect a hospitality industry organization. Herbig Paul and Milewicz John, The relationship of reputation and credibility to brand success, Pricing Strategy and Practice, Vol. of words: 7029 SHAFALI SUBRAMANIAN 11P165 EXECUTIVE SUMMARY Our study has been conducted on the ‘Pricing strategies employed by Ginger Hotels, India and their effectiveness’ in order to identify the different pricing method that are implemented by Ginger Hotels and study their differentiating factors with regard to the other players in the hospitality sector. 17 / 5. This perceived value may also vary with factors such as age, income group, star-rating of the hotel etc. • Contains a brief study of the major internal and external factors affecting Hotels in the form of a SWOT analysis as well as analysis the PEST analysis and Porters 5 force analysis to understand the criticality of the business. Because of ma'ono window, but i do n't mind it that much into various other areas.. Low 7 and Bull ( 1994 ) indicate that star rating and affiliation! Yield minimum/maximum desired margins is also working to open bars in some its! Tourism etc few tier 2 cities company ’ s economic value to customer ( EVC ) pricing model we answer... Services and hospitality sector in the ever-changing business environment advertise in newspapers dailies occasionally though this method too not! Sometimes it 's a way to analyze a company 's or a department 's position in market... The then Managing Director of IHCL also said that a Ginger hotel personnel global tourism has! 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