The hospitality industry is very complex from the point of view of the GRC system. A plethora of regulations have to be complied, and major repercussions may occur if compliance is not practised. Hotel owners are finding it increasingly difficult to practice good governance, risk and compliance management with rapidly multiplying risks and regulatory compliance requirements as well as with newer laws supporting proper governance management. Compliance requirements for the hospitality industry range from PCI compliance to health and safety regulations, and everything in between.
However, it has experienced prominent growth in recent years due to various factors, including the rising budgets of domestic travellers, a commercial development boom and expansion of the tourism market, a growing airline industry and government-led initiatives trying to tap into this booming new source of wealth. There is a great scope for the expansion of this market as it is nowhere near saturation, especially with improving air travel, more relaxed visa restrictions, and tourist arrivals are only expected to increase. However, the Indian hotel industry is highly fragmented, with the majority of entrepreneurs dominating the market being small and unorganised.
we will use all our combined implimentation experience in this vertical to deliver a robust GRC solution