Financial and Business Performance of Hotels – Government Support for R&D

This descriptive research has made an attempt to assess the financial and business performance of hotels in Kashmir Valley by administering a structured schedule to 307 hotel managers, selected using Convenience sampling. Results of the survey reveal that financial performance of hotels in Kashmir during the past three years has not witnessed any significant change while their business performance has witnessed a favourable growth due to better performance in terms of attracting new customers, satisfying customers and winning loyalty of customers. Total sales of hotels are exerting the highest impact on financial performance of hotels followed by rate of growth and finally, overall profitability. government's financial support for R&D is important factor having a bearing on both business and financial performance of hotels in Kashmir Valley. Hence, this study has revealed that concrete government support in terms of better infrastructure and technology upgradation is indispensable for the growth of any industry including hotels