Goa's Hospitality Industry: A Study on Status, Opportunities, and Challenges

Abstract

Purpose: This study aims to learn more about the hospitality sector in Goa, India, including its current state, potential, and growth. The review plans to distinguish the variables that add to the progress of the cordiality business in Goa, as well as the difficulties it faces in adjusting to changing times and the effect of the Coronavirus pandemic. The concentrate additionally tries to feature the extraordinary elements of the Goan cordiality industry that put it aside from other traveler objections in India. Methodology: This study employs a secondary research strategy based on a review of previously published articles, reports, and data on the Goan hospitality sector. Google Scholar, ResearchGate, and official Goa Tourism Division publications are used in the study. The information examination centers around key execution markers, for example, inhabitance and room rates in the neighborliness business in Goa. Findings: Despite the challenges posed by the COVID-19 pandemic, this study reveals that Goa's hospitality industry has performed well in recent years. Hotels in Goa saw a significant rise in occupancy rates from 15% to nearly 55% in the final quarter of 2022. Moreover, the typical room rates expanded from Rs 4,500 to nearly Rs 7,000 every evening. Goa saw the greatest increase in hotel demand among India's level II cities, rising by 118% in April. In addition, the study predicts that Goa's hospitality industry will continue to expand in 2023, surpassing pre-pandemic levels of demand and increasing revenue for the state and local governments. Practical Implications: Students, researchers, and policymakers interested in Goa's hospitality industry will benefit greatly from this study's practical implications. The study gives a valuable understanding of the industry's current state and growth and development potential. It also emphasizes the Goan hospitality industry's distinctive characteristics that set it apart from other Indian tourist destinations. The discoveries of this study can help partners in the business, including hoteliers, financial backers, and policymakers, to pursue informed choices and to make the most of the amazing open doors introduced by the development of the travel industry in Goa. Also, the review gives bits of knowledge into the effect of the Coronavirus pandemic on the friendliness business in Goa and the actions that have been taken to adjust to the evolving conditions. Originality/Value: This study gives a canny investigation present status of the Goan Lodging Industry, featuring its advantages, future potential, extraordinary qualities, restrictions, open doors, and qualities for industry advertisers. Even though this report is based on secondary research, it could be improved by having in-person interviews with key stakeholders like hoteliers, tourists, locals, and other industry players. These people would be better able to share their actual experiences and give feedback from the ground up. By providing a more comprehensive understanding of the Goan lodging industry and its overall impact on the Indian tourism industry, such primary research would further enhance this study's value and originality. Policymakers, stakeholders in the industry, and investors interested in the Goan tourism industry who want to make informed decisions may benefit from this study's findings. Moreover, understudies, specialists, and the overall population can profit from this concentrate by acquiring a more profound comprehension of the housing business in Goa and its commitment to the more extensive travel industry. Paper type: Case Study