Page 3 - Hospitality Industry

Expansion lays bricks for Phoenix upgrade: Revamps, launches boost outlook

Motilal Oswal upgraded Phoenix Mills to a 'buy' rating and raised its target price to ₹2,044 from ₹1,673 earlier, implying a potential upside of 35 per cent

Monsoon fury in North: Hospitality sector stares at revenue wipeout

Industry hopeful of revival, full festive season may not get impacted

Accor Hotels appoints Ranju Alex as new CEO for South Asia operations

French hospitality group Accor Hotels appoints former Marriott executive Ranju Alex as CEO for South Asia with plans to expand operations and open 300 hotels in India by 2030

FHRAI seeks GST rationalisation to boost India's tourism competitiveness

FHRAI urges the government to rationalise GST to make India's tourism sector globally competitive, aligning with Vision 2047 and attracting more investment to the economy

Yatra Online zooms 70% in 8 days; what's driving this travel related stock

Shares of Yatra Online hit a new 52-week high of ₹163.38, gaining 6 per cent on the BSE in Thursday's intra-day trade, and is seen inching towards its all-time high recorded more than a year ago.

Hospitality major Hilton Hotels sees growth across all segments in India

For the first six months of 2025, Hilton Hotels has recorded a double-digit growth in its revenue per available room (RevPAR) on a year-on-year (Y-o-Y) basis

Top hospitality chains eye eco-tourism resort projects in Andaman islands

Top hospitality companies, including Tata group's IHCL and Hyatt Hotels Corp, have shown interest in developing eco-tourism resorts at four locations in Andamans, including the uninhabited Aves Island, which will be opened for tourism for the first time, officials said on Saturday. The eco-tourism properties will be developed on a public-private partnership (PPP) basis at Neil Island, Aves Island, Long Island and Smith Island. Besides, the administration is also looking to redevelop the Megapode Resort in Port Blair, they said. The Andaman & Nicobar Islands Integrated Development Corporation Ltd (ANIIDCO) on July 28 invited bids for developing the resorts on a design, build, finance, operate and transfer basis, they added. A virtual pre-bid meeting was held on August 14, and it was attended by officials of some of the biggest players of the sector, including The Leela, Indian Hotels Company Limited (IHCL), Club Mahindra, Hyatt Hotels Corp, Ambuja Neotia Hospitality, Chalet Hotels,

Realty, hospitality firms upbeat on GST Diwali bonanza and tax relief

Real estate and hospitality companies hope that GST reforms, including lower taxes and simplified compliance, will boost demand, support tourism, and aid in the growth of the economy

Tourism can beat 'Trumpian' tariffs, says former G20 Sherpa Amitabh Kant

Former G20 Sherpa Amitabh Kant urges Rs 20,000 crore for global tourism promotion, saying the sector can offset US tariffs and boost India's growth and jobs

ITC Hotels sets 2030 goal of 220 properties, 5,300 keys in 5 years

ITC Hotels, in its first AGM post demerger, announced a pipeline of 58 hotels with over 5,300 keys in five years, targeting 200 properties by 2030 and expanding abroad

EIH to open four hotels to expand presence in India's leisure market

The company will be expanding through its Oberoi and Trident brands for the new hotels under management contracts, it said in a release in a stock exchange filing

Chalet Hotels names Shwetank Singh as new MD and CEO from February 1

Singh will take over from Sanjay Sethi. The board of directors, in a meeting on Thursday, approved the appointment of Singh as the MD and CEO

Indian hospitality sector dips on geopolitical tensions in June quarter

Hotel occupancy and room rates decline across cities amid Indo-Pak tensions, early monsoon and air crash; outlook for September quarter remains optimistic

Hotels target frequent air travellers to attract customers amid travel boom

Such initiatives highlight the rise in providing seamless travel experiences to travellers, as per hospitality industry executives

Leela Palaces Hotels operator posts consolidated net profit of ₹9 crore

Schloss Bangalore, the owner of Leela Hotels, reports a net profit of Rs 9 crore in Q1, reversing its loss from last year, and announces expansion plans with 8 new hotels and 966 keys

ITC Hotels hits 200-property mark; Q1 net profit up 54% at ₹133 crore

Revenue from operations grows 15 per cent year-on-year to Rs 815.5 crore; hotel chain plans to add over 7,000 keys through 2030 with brownfield asset focus

IHCL acquires additional stake in subsidiary ELEL Hotels for ₹165 crore

The acquisition was made at an issue price of ₹5,000 per share, the company said in a BSE filing

Delhi High Court stays ₹1,140 crore angel tax demand against Oyo

The Delhi High Court stays a ₹1,140 crore angel tax demand against OYO's parent company Oravel Stays for the assessment year 2020-21 under Section 56(2)(viib) of the Income Tax Act

Ventive, Marriott expand partnership to add 6 new hotels in India by 2030

Ventive Hospitality and Marriott International expand their partnership to develop six hotels in India by 2030, adding more than 1,400 rooms across key cities

IPOs mark a new era for India's hospitality industry with scale, ambition

In the past two months, international chains have announced aggressive expansion plans for India. Most plan to open 100-300 hotels in the next five years, said analysts at Elara Capital