India is one of the most favorite global locations in the world. Today, the tourism industry in India is one of the fastest growing sectors and given the situation, hotel industry seems to be bright. Lately there has been a great demand in the budget hotel segment owing to the increasing corporate travel. There are many 5 stars, 3 stars and 4 stars hotels but the difference of cost one has to pay for their stay between 5-star hotels and 3 to 4-star hotels is huge and this gap is filled up by the budget hotels. Lately budget hotels have become very popular and people who are planning to start the hotel business are having their eyes on budget hotels.

If you want to start your own budget hotel, there is always scope for new innovative business ideas in the market. A hotel management degree or some prior experience will give you confidence. It will also make you save time that you would take in learning through trial and error method. Make sure that your business offers-something unique that no other hotels offer. To find out this unique feature, you will have to carry out an extensive market analysis.
The main objective of analyzing the market is to identify the demand supply gap in the market. Visit hotels in a particular locality to find out the kind of services they offer. Make a note of services that you think are lacking. Visit various industry expositions that bring together all the brands in food and hospitality sector under one roof, Try to find out what budget hotels abroad offer to their customers. Figure out ways of how to bring in similar facilities and services at a reasonable price range.

The success rate of a budget hotel depends on the location and the number of rooms available. Besides good visibility to travelers, the hotel’s connectivity with the other parts of the city like airport, railway station and centers must be ensured. A standard budget hotel should have at least 40 rooms in a combination of single and double rooms. Given the perfect location and adequate accommodation, your ability to provide the ultimate in hospitality will be a powerful marketing factor in your hotel business. Your aim should be to make you guests feel at home all the time. Arrange a travel desk to manage your visitors travel plans starting from managing the air tickets reconfirmation, pick and drop, car rentals to multilingual guides for sightseeing.

Making your customer happy will not only ensure his coming back to your hotel, but also make him suggest your hotel to his friends. Regular advertising in travel magazines and special sections of newspapers, TV and radio will also support your goal of a steady stream of customers. Your Endeavour is to make your hotel a home away from home for your guest. And you can do it only when your employees carry the same motto in their mind. The secret of success is the right product mix backed with the right service mix.