Page 4 - Global Travel Industry

The 10 best budget travel destinations for 2024; all details inside

The astonishing variety of travel places in India has to be seen to be believed. Tourists have given lifetimes to exploring the popular places and neglected corners of this incredible country

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Hyderabad most travelled city in 2023, UP most visited state: Oyo

As remote working and flexibility declined, travelers sought to maximize their vacations and extended long weekends this year

Go Air troubles mount as billionaire-backed Indian airline nears collapse

Chief Executive Officer Kaushik Khona quit at the end of November, saying he couldn't get the carrier flying again and that staff hadn't been paid for six months

OYO elevates Rakesh Kumar as Chief Financial Officer with effect from Jan 1

Hospitality technology platform OYO on Tuesday announced the elevation of Rakesh Kumar to Chief Financial Officer (CFO) with effect from January 1, 2024. Abhishek Gupta, the current CFO, will continue with OYO in an advisory and mentorship capacity, OYO said in a statement. Kumar, who is currently working as Deputy Chief Financial Officer, in his new role as the CFO, will continue driving financial strategy and operational efficiency, the company said. He has been overseeing financial functions, including business finance for all markets, treasury, controllership, shared services, financial and investor reporting, taxation, and financial planning and analysis, it added. In his last six years at OYO, Kumar has played a pivotal role in the company's financial stability during the COVID-19 pandemic. His leadership facilitated successful equity and debt raises and strategic acquisitions. "Rakesh's elevation to the role of CFO is a crucial milestone in our pursuit of financial stabilit

Younger travellers driving tourism rebound: Thomas Cook India's Menon

Madhavan Menon speaks to Akshara Srivastava about the drivers behind this growth and what lies ahead for the Indian travel and hospitality landscape

Airfares will go up by mid-high single digits, says Yatra Online CEO

Dhruv Shringi speaks about their plans of driving revenue and the travel boom in the country

From paperwork to passport: Atlys' digital leap in visa processing

Mohak Nahta's Atlys is streamlining visas, winning travellers and investors alike

Focus more on niche products to tap market demand: Global Travel Market

The first edition of Global Travel Market (GTM 2023) and expo drew to a close here on Saturday with leading players of travel and hospitality sector calling for stepping up promotional efforts focusing more on niche areas like experiential travel, wellness and heritage to tap the full potential of post-pandemic surge in tourism. The four-day event, which saw a large number of business decisions being clinched during the B2B sessions by stakeholders from around the world, also stressed on firming up sectoral collaborations and government-industry relations to impart a further momentum to the highly promising sector. GTM 2023 was organised by South Kerala Hoteliers Forum (SKHF), Trivandrum Chamber of Commerce and Industries (TCCI), Tavaz Ventures, Metro Media and Citrine Hospitality Ventures, a statement said here on Saturday. GTM CEO Siji Nair said the expo had participants from around 24 countries and more than 20 states, making the event a grand success. Overall, more than 1,000 .

India-Canada standoff: Anxiety builds among students, travel companies

Several education consultancy agencies said they are getting panic calls from students and parents, who have already registered themselves

Travel growth to drive luggage makers' revenue by 15% in FY24: CRISIL

Steady growth in tourism and corporate travel and preference for premium products will drive luggage sales in the current fiscal, helping manufacturers clock a 15 per cent growth in revenue, according to a report. This will be on the back of a 40 per cent rise in luggage makers' revenues in 2022-23, the report by Crisil Ratings said on Wednesday. Consumers' preference for hard luggage has driven up operating efficiencies and improved capacity utilisation of luggage makers in the organised sector, which will help expand their operating margin by 150-200 basis points year-on-year to 16 per cent this fiscal, the report said. The growth in margins and top line are aided by a 20 per cent fall in prices of key raw materials -- polypropylene, polycarbonate, and polyamide, it said. Raw material prices, largely driven by cost of crude, comprise 40-45 per cent of the cost for luggage makers, the report, which is based on 90 per cent of the organised luggage market, stated. Crisil Director J

New York City expects to host over 300,000 Indian travellers this year

New York City is hoping to welcome 3.06 lakh travellers from India this year as the city witnesses economic recovery that has helped the growing momentum in tourist footfalls, New York City Tourism and Conventions EVP, Global Communications, Tiffany Townsend has said. "The pace of tourism's rebound helps fuel New York City's economic recovery, having supported approximately 3,40,000 jobs in the full leisure and hospitality sector, more than USD 40 billion in direct visitor spending and approximately USD 60 billion in total economic impact for 2022. NYC expects to welcome 11.4 million international visitors this year, including 306,000 travellers from India," Townsend told PTI in an emailed interaction. In 2019, New York City welcomed a total of 66.6 million visitors the City's 10th consecutive year of record tourism growth, she said, adding that this included 13.5 million international travellers, with 3,36,000 hailing from India. She said that India has always been an important ..

71% ready to spend Rs 1-6 lakh on international holidays, Dubai tops list

44% of Indians will allocate an increased budget for travel post-pandemic, 31% will take more domestic trips in 2023-24, and 30% will increase the trip duration.

Air India, Sabre Corporation sign multi-year deal for global travel access

This long-term global distribution partnership will support Air India's ambitious growth plans, said Air India's Chief Commercial & Transformation Officer

RateGain Travel up 4% after it inks pact with cloud-based property platform

In the past three months, shares of RateGain have soared over 25 per cent, as against 2.7 per cent decline in the S&P BSE Sensex

Have adequate funds to survive any Covid curbs: MakeMyTrip CEO Magow

In an interview with Business Standard, MakeMyTrip CEO Rajesh Magow talks about the steps the company took to emerge stronger from the Covid setback will help them withstand any uncertainty

Indians flocking both foreign and local getaways as travel recovers: Airbnb

The traveller is also expanding his travel horizons, looking to explore new getaways abroad

Surge in bookings, cost cutting fuel 8-fold surge in IPO-bound OYO's Ebitda

Spike in adjusted Ebitda primarily driven by a 23% QoQ rise in Gross Booking Value per hotel in Q2 to Rs 4,00,000; firm still ends with Rs 333 cr loss

Ola shuts in-car infotainment service launched in 2016 as global first

Industry sources say the service was not proving any value to the ride-hailing company

Mahindra Holidays looks to check in non-members with new hotel brand

To be positioned in the upper upscale band of the leisure segment, the hotel will compete with the likes of Pullman and Courtyard by Marriott