Running Head:Hospitality Industry

In Search of New Market in BRIC Countries for Hospitality Industry

Acknowledgement

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

DECLARATION

I, [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.

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Abstract

The aim of this study was to explore new markets in BRIC Countries for Hospitality Industry.This paper also discussed the capital structure of leading hotel chains of India ,China,Russia and Brazil to examine the role of financing decision in the overall performance of companies. The paper also highlights the range of challenges that exist and illustrates those that arise from cross-cultural differences between eastern and western expectations, as well as the range of diverse organizational cultures within Russia's hotel industry. Managers must be aware of these differences and develop appropriate skills and competencies to help them adapt their style accordingly.

Table of Contents

CHAPTER 17

INTRODUCTION7

Background7

Purpose of Study8

Significance of Study8

CHAPTER 210

LITERATURE REVIEW10

Modern tourism12

Indian Hospitality Industry16

Advantages and challenges facing transitional managers in Russia17

Challenges:17

China's approach to vocational education and training in Hospitality Industry19

Hospitality Industry of Brazil20

CHAPTER 324

Methodology24

Ethical Concerns29

CHAPTER 431

Results and Findings31

Market in BRIC Countries31

Major Concern for Hospitality Industry in BRIC Countries34

Employees Attitude36

Customers Behavior37

Lodging and Food Services in BRIC Countries38

India and China39

Management of infrastructure39

Workforce issues40

Hospitality education42

Strategies for development and franchising42

The trading of hospitality firms44

Destination management45

Crisis management46

Russia46

Brazil52

CHAPTER 558

Discussion and Conclusion58

REFERENCES68

Chapter 1

Introduction

Background

Tourism is an industry that gives persons the opening to discover and discover distinct cultures and numerous distinct countries. People are adept to outlook attractions; dabble in localized cuisine and know-how life in a distinct country. Tourism is an industry that is quickly increasing as more and more persons are traveling abroad. People have a authentic interest in discovering about new cultures and experiencing all that a homeland has to offer. More countries are going closer to globalization and this in turn is starting to combine numerous cultures together. Developing countries are increasing their function in the tourism industry as countries are discovering that this is one of the quickest ways to profit from revenue.

Tourism blends numerous countries simultaneously in the service sector. The hospitality industry relies very powerfully on tourism and is the going by car force behind sectors such as nourishment and beverage as well as the inn industry. It is imperative that all of these industries work in a cohesive fashion because if one fails, so goes the others. When a homeland experiences a development in tourism there is mechanically an increase in nourishment and beverage and the inn sector amidst others. There are both positive and contradictory effects to the linkage in the hospitality industry and globalization plays a foremost part.

The hospitality industry creates a multitude of positions and job opportunities for persons in the localized area. As discussed overhead, the distinct sectors are strongly ...