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Further rationalisation in goods and services tax (GST) on domestic hotels and restaurants could help fuel tourism growth in India, even as the country's travel market continues to grow despite global uncertainties, according to SOTC Travel Managing Director and CEO Vishal Suri. The GST Council had last year reduced GST on hotel rooms with tariffs of up to Rs 7,500 per night to 5 per cent from 12 per cent, without input tax credit, to make accommodation more affordable and support tourism. The new rates came into effect from September 22 last year. Suri said the government's decision to reduce the tax collected at source (TCS) on overseas tour packages to a uniform 2 per cent was a positive step for the industry. "The government has already reduced TCS on overseas tour packages to 2 per cent (uniform rate) and can further consider GST rationalisation on domestic hotels & restaurants," Suri told PTI in an interview. He said tourism has the potential to emerge as a major contributor
India has emerged as one of Radisson Hotel Group's strategic global growth engines and the company remains on track to reach 500 hotels target by 2030, as it is betting on emerging urban hubs and regional towns, religious tourism destinations and hotel conversions to drive its next phase of expansion, Nikhil Sharma, Managing Director & COO, South Asia, said. Backed by strong owner confidence and growing demand beyond traditional metros, the company expects faster conversion of its hotel pipeline into operational properties over the next two years while expanding deeper into Tier II, III and IV markets -- emerging urban hubs and regional towns -- leisure destinations and religious tourism hubs. "Without question. India has evolved from being an important market to becoming one of Radisson Hotel Group's strategic growth engines globally," Sharma told PTI in an interview. He said the company's India strategy was focused on execution, noting that in the first half of 2026 alone, ...
Radisson Hotel Group on Monday announced it has signed 10 new hotels in the second week of July, expanding its footprint across seven states and strengthening its growth trajectory in India. The 10 hotel signings span six brands, Radisson Blu, Radisson, Park Inn by Radisson, Radisson Individuals Premier, Park Inn & Suites by Radisson, and Radisson Individuals Retreats. The signings add hotels across major pilgrimage and temple-town markets, including Radisson Hotel Tirupati (Andhra Pradesh), Park Inn & Suites by Radisson Mathura Vrindavan (Uttar Pradesh), and Park Inn & Suites by Radisson Kadapa Airport (Andhra Pradesh). Besides, the group also plans to add more hotels to its current portfolio of 7 operational properties and a pipeline of 5 hotels in Bengaluru, India's technology capital and a strategic growth market. The recent signings include Radisson Blu Resort & Spa Bengaluru, Park Inn by Radisson Electronic City, and Lavish Hotel Bengaluru, a member of Radisson ..
Tata Group-owned Indian Hotels Company Ltd (IHCL) on Monday reported a 14.71 per cent year-on-year (YoY) rise in its consolidated net profit for the fourth quarter ended March at Rs 645.43 crore. The country's largest hospitality player had a net profit of Rs 562.66 crore a year ago, a regulatory filing showed. Its Revenue from Operations increased to Rs 2,765.29 crore during the fourth quarter of FY 2025-26, from Rs 2,425.14 crore in the same period of the preceding fiscal. However, the company's total expenses also rose to Rs 2,014.91 crore in the quarter under review from Rs 1,764.26 crore in Q4FY25. The Board of Directors of the company also recommended a dividend of Rs 3.25 per share, subject to the approval of the members at the ensuing Annual General Meeting. Ankur Dalwani, Executive Vice President and Chief Financial Officer, IHCL, said, "IHCL Consolidated clocked a double-digit revenue growth this fiscal, reflective of a broad-based performance - led by RevPAR growth of 9
The latest hike in the price of 19-kg commercial LPG cylinders used by hotels and restaurants has dealt a "severe blow" to the hospitality industry already reeling under the impact of closures and job losses, and will aggravate the situation, industry associations said on Friday. They urged the government to intervene and roll back the hike. The prices of commercial LPG - the one used in hotels and restaurants - have been hiked by Rs 993 to a record high of Rs 3,071.50 per 19-kg cylinder. Pradeep Shetty, Spokesperson, Hotel And Restaurant Association (Western India) - HRAWI & Vice President, FHRAI (Federation of Hotels and Restaurants Association of India), said, "Due to the recent rise in LPG prices, a 10 to 15 per cent hike in menu prices is imminent. But even that may not be enough to absorb the impact. We urge the government to urgently intervene, roll back this hike and stabilise LPG prices to give the sector some breathing space. Without immediate relief, the hospitality ...