Economics of Hotel Management

Cover -- Preface -- Contents -- Chapter 1 The Hotel Industry -- 1.1 Role of Economics in the Hotel Industry -- 1.2 Historical Background -- 1.3 The Lodging Industry -- 1.4 Hoteliering in India -- 1.5 Significance of the Hotel Industry -- 1.6 Tourism -- 1.7 Forms of Tourism -- 1.8 Objectives of Tourism -- 1.9. Significance of Tourism -- 1.10 Growth of Tourism -- 1.11. Foreign Exchange Earnings Between 1991-2001 -- 1.12 The Types of Hotels -- 1.13. Constraints of Tourism -- 1.14. Tourism Policy -- Chapter 2. Consumption -- 2.1. Utility Analysis of Demand -- 2.2. Concepts Related to the Two Approaches -- 2.3. Cardinal Utility Approach -- 2.4. Indifference Curve Analysis -- 2.5. The Budget Line or The Price Line -- 2.6. Consumer's Equlibrium -- 2.7. Consumer's Surplus -- 2.8. Consumer Sovereignty -- Chapter 3. Demand Analysis -- 3.1. Meaning -- 3.2. Features of Demand -- 3.3. Demand Schedule -- 3.4. Demand Function -- 3.5. Law of Demand -- 3.6. Analysis of Demand -- 3.7. Nature of Demand-Distinctions in Demand -- 3.8. Forecasting of Demand -- Chapter 4. Elasticity of Demand -- 4.1. Meaning -- 4.2. Price Elasticity of Demand -- 4.3. Measurement of Price Elasticity of Demand -- 4.4. Income Elasticity of Demand -- 4.5. Cross Elasticity of Demand -- 4.6. Factors Influencing the Elasticity of Demand -- Chapter 5 Production Function -- 5.1 Meaning -- 5.2 Features Related to Production Function -- 5.3 Law of Variable Proportion -- 5.4 Isoquant Curves -- 5.5 Equilibrium Point in the Production Process -- 5.6 Economies to Scale -- Chapter 6 Cost of Production -- 6.1. Meaning -- 6.2. Cost Concepts Relating to Production Function -- 6.3. Behaviour of the Average Cost Curves -- 6.4. Characteristics of the Long Run Cost Curve -- 6.5. Relationship Between the Marginal Cost and the Average Cost Curves -- 6.5. Break Even Analysis -- Chapter 7 Supply -- 7.1. Meaning.