TRIPLE BOTTOM LINE APPROACHES OF HOSPITALITY INDUSTRY IN INDIA

Abstract

Indian tourism and hospitality industry has emerged as one of the key drivers of growth among the service sectors in India. Hotels represent the largest segment of hospitality services in India. The impact of hotel industry on various sectors is estimated to be substantial and the growth of hospitality business depends on the expansion of the number and capacities of the hotel rooms. With the change in preference and behavior of customers, hotels have customized facilities and services to maximize efficiency and yield. “Hospitality with responsibility” is the present need and most hoteliers are begun to ‘green up’ their operations with triple bottom line (TBL) approaches. It not only focuses on the economic value of the hotel but also the contribution towards environment and society. This paper is an attempt to understand the initiatives of hospitality firms in India which set their goals based on profit, planet and people as they realized the tourist’s commitment toward sustainable development.