Venturing a Budget Hotel in Sri Lanka Free Essay Example, 2500 words

As evident in the landing/disembarking cards of Sri Lanka, UK and USA there is no indication of social classes of tourist to these destinations. All it shows is the occupational category of tourists (Refer to appendix 12). The landing/disembarking cards are the main source of gathering tourist characteristics. Therefore the proposed venture will be using the occupation to identify various categories of the target market, which comprise businessmen, retired persons, educationist, another occupation category, and no occupations categories. According to Sri Lankan tourist board statistics in 2007, total international tourist arrivals were 494008 (Refer appendix 06). Out of the total arrivals 80523 (16.3%) were businessman, 135358 (27.4%) people were another occupation category, 25194 (5.1%) were retired people, 28158 (5.7%) were educationist and 88922 (18%) were in no occupation category. This totals to 358156 (72.5%) as our target market according to occupation category (Refer appendi x 13). Competitor analysis is an important strategy for a business to identify its competitors to gain a competitive advantage over rivals. Some of our competitors are Hotel Sansu, Renuka Hotel, Colombo City and Hotel Janaki (see appendix 14 28). We will write a custom essay sample on Venturing a Budget Hotel in Sri Lanka or any topic specifically for you Only $17.96 $11.86/page These facts coupled with the current global financial crises, the demand, for low budget accommodations worldwide are expected to rise (Refer appendix-18).