Hospitality Industry

SAMHI Hotels to acquire Innmar Tourism for enterprise value of Rs 205 cr

Innmar Tourism and Hotels, incorporated in October 2003, had a turnover of Rs 24.76 crore in FY24

Sluggish foreign tourism recovery impacts India's hospitality industry

The post-pandemic recovery in India's inbound tourism is lagging the global trend

Greenfield boom: Hotel investments in India return to pre-pandemic high

Return to pre-pandemic levels; Indore, Kanpur, Bhubaneswar among cities witnessing rise in demand for such projects

Statsguru: Tourism industry shows recovery but challenges remain

The tourism sector is facing a year-on-year decline in the share of jobs created

Ventive Hospitality files papers with Sebi to raise Rs 2,000 cr through IPO

The Pune-based company's IPO is completely a fresh issue of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP)

India's hospitality sector attracts $93 million investment in H1 of 2024

Listed hotel companies lead hotel transactions in H1 2024

Hilton to tap luxury travel trend in Asia Pacific, eyes 150 properties

Global hospitality major Hilton on Wednesday said it plans to cross 150 luxury hotels in the Asia Pacific region in the coming years, driven by new openings including India. The company, which plans to quadruple its luxury portfolio across the region compared with the end of 2023, is seeking to tap the rising luxury travel trend and a desire among customers to better understand their heritage through travel. "From Tokyo to Maldives, Shanghai to Jaipur '? the luxury segment is growing exponentially and Hilton's luxury brands are poised to capture the significant opportunity across the region," Hilton Asia Pacific President Alan Watts said in a statement. The company said the addition of properties, such as Lanson Place Causeway Bay Hong Kong and Gangtey Lodge, Bhutan from Small Luxury Hotels of the World, Hilton's luxury pipeline in Asia Pacific continues to gain momentum. Recent signings, including Waldorf Astoria Jaipur and Conrad Jaipur in India, and Conrad Yokohama in Japan, ...

Strong prospects, valuations to drive gains for hotel companies' stocks

Occupancy may improve by up to 5 per cent, with the average room rate growing at 7-8 per cent over three years

Relief to Tata's IHCL; Delhi HC bars 'Taj Iconic' from using 'Taj' name

Delhi High Court has ordered the MD of Taj Iconic to pay Rs 10 lakh in damages and Rs 5 lakh in costs to IHCL, in a trademark lawsuit filed by the Tata Group

IPO-bound hotel chain Oyo aims three-fold profit surge to over Rs 700 crore

Earlier this year, OYO reported its first PAT of nearly Rs 229 crore for the financial year 2023-24 (FY24). OYO achieved a PAT of about Rs 132 crore in Q1 FY25

Oyo posts first-ever annual profit of Rs 229 crore in FY24, eyes expansion

The company's total costs decreased by about 13 per cent to Rs 4,500 crore in FY24 from Rs 5,207 crore in the previous year

Heavy rains impact food delivery and quick commerce in north India

Poor road conditions and waterlogged streets amid heavy rainfall have led to an increase in undelivered orders

Oyo founder Ritesh Agarwal invests Rs 830 cr in firm's latest funding round

Besides Agarwal, key contributors in the funding round include InCred Wealth, J&A Partners, the family office of Mankind Pharma promoters and ASK Financial Holdings

India's hospitality sector to see strong tailwinds, says Thomas Cook MD

The country's hospitality sector is likely to witness strong tailwinds in the medium to long term, with demand outpacing supply, Thomas Cook India's Executive Chairman Madhavan Menon said. In an interview with PTI, he shared that the company's expansion plans in India are focused on a phygital model, and it is looking at opening around 20 new holiday outlets this fiscal through a combination of owned and franchise locations, and this will include key source markets across Tier 1-3 cities and towns. The company reported a consolidated net profit of Rs 73.13 crore during the first quarter ended June 30, marginally up from Rs 70.93 crore a year ago, according to a regulatory filing. During the April-June quarter, Thomas Cook India's total income rose to Rs 2,134.33 crore from Rs 1,931.87 crore in the year-ago period. "In the medium and long term, the tailwinds for the hospitality sector remain strong, with demand expected to continue outpacing supply," Menon told PTI. Citing industry

Mahindra Holidays & Resorts expects 85% occupancy this fiscal: MD & CEO

Mahindra Holidays & Resorts India Ltd expects occupancy levels for the ongoing fiscal to be around 85 per cent on the back of steady demand from its members with a rising trend of shorter holidays, according to its Managing Director and CEO Manoj Bhat. The company, which witnessed 90 per cent resort occupancy on an expanded inventory base in the first quarter of this fiscal, expects it to be softer in the second quarter. "Q1 is a peak quarter. Q2 will dip, Q3 will climb again. So it's a bit seasonal, but overall for the year, we expect around 85 per cent kind of occupancy," Bhat told PTI when asked about how the occupancy level is expected in the fiscal. He said factors like the extreme heatwave this summer coupled with the general elections that impacted the wider hospitality industry were not much of an issue for Mahindra Holidays & Resorts India. "For us, that is not so much a factor because for us there is steady member demand across the season," Bhat said, adding the ...

For your next holiday, dip into a luxury pool villa by the sea, hills

Resorts and hotels report rising demand from customers who want to idle or party by a pool

Union Budget 2024-25: Absence of incentives disappoints hospitality sector

India has witnessed a remarkable development in the tourism and hospitality sectors in the post-COVID-19 era. According to the Economic Survey 2023-24

Uttar Pradesh govt to add 200,000 hotel rooms to tourism inventory

In 2023, around 480 million domestic and foreign tourists visited UP, an increase of over 50 per cent, compared to 2022. The annual footfall is estimated to touch 850 million by 2028

Ahead of Budget, hospitality players demand infra status for hotels

Hospitality players want the government to accord infrastructure status to hotels to make investments on new properties more attractive rather than categorising them as luxury or even 'sin goods' in the upcoming Union Budget considering the sector's potential to play a key role in India's growth. They also want the government to consider incentives in the form of tax breaks or subsidies for adopting sustainable and eco-friendly practices, while asserting that the upcoming budget must accelerate the tourism agenda saying it is an opportunity to make Indian hospitality the emerging engine for GDP growth and employment generation. "The sector is burdened with high taxation, expensive and multifarious licences, approvals and compliances. Hotels are capital intensive with a long gestation period. Cost of operating hotels is high and largely fixed. This makes investments in hotels risky. There is a need to make hotel investments more attractive with an improved rate of investment and to .

Brigade Group to invest Rs 8,000 cr in Chennai; develop 15 mn sq ft

Bengaluru-based real estate company aims to double growth in Chennai