Page 4 - Hospitality Sector

Puneet Chhatwal takes over as FAITH chairman; will also remain Prez of HAI

Chhatwal is the managing director and chief executive officer at Indian Hotels Company Limited. He will be taking over from Nakul Anand, the former executive director at ITC Hotels

In 2024, hospitality sector to tap opportunities in underserved Indian mkts

As per analysts' estimates, Chhatwal, who is also the Managing Director and CEO of Indian Hotels Company Ltd (IHCL), said the sector had clocked a 14 per cent growth in Revenue Per Available Room

Hospitality industry expects hiring to speed up after robust growth in 2023

The Indian hospitality and tourism sector is expected to see accelerated hiring going forward after witnessing a robust growth this year with domestic travels leading the way, according to industry players. With a report by the Hotel Association of India (HAI) projecting the hotel industry's direct contribution to India's GDP to reach USD 1 trillion by 2047, experts believe there will be a minimum of 25 per cent rise in the need for workforce, with the adjacent industries like travel, aviation, ticket booking, travel guides, and consultants to be increasingly in demand. "The hotel industry's direct contribution to India's GDP reaching USD 1 trillion by 2047 is a significant milestone. This substantial growth will undoubtedly bolster job creation within the sector, providing employment to millions of individuals across diverse skill sets," HAI Vice President K B Kachru told PTI. Kachru, who is also Chairman Emeritus & Principal Advisor, South Asia Radisson Hotel Group, further said

Probing data breach claim, no current security issue detected: Tata's IHCL

Tata group hospitality firm Indian Hotels Company Ltd on Thursday said it is investigating claims of a data breach, but asserted there is no suggestion of any current or ongoing security issue. According to a media report, there has been a personal data breach of 15 lakh users from the Taj Hotel database, which is available on the dark web for purchase at USD 5,000. "We have been made aware of someone claiming possession of a limited customer data set which is of non-sensitive nature," Indian Hotels Company Ltd (IHCL) spokesperson said in a statement. Asserting that safety and security of customers' data is of paramount importance to the company, the spokesperson said, "We are investigating this claim and have notified the relevant authorities." The spokesperson further said, "We continue to monitor our systems and there is no suggestion of any current or ongoing security issue or impact on business operations." IHCL runs a number of hospitality properties under the Taj, SeleQtion

RMZ Corp aims to add $25 billion of assets by 2029 as it expands portfolio

RMZ has been operating in the office space for nearly two decades, along with involvement in retail and residential segments

Zubin Saxena succeeds Navjit Ahluwalia as Hilton's senior VP, country head

Zubin Saxena will take charge in January 2024; he was previously working at the Radisson Hotel Group for over eight years

PRS Oberoi, doyen of Indian hospitality passes away at the age of 94

Chairman Emeritus of The Oberoi Group Prithvi Raj Singh Oberoi, widely known as the doyen of Indian hospitality, passed away on Tuesday, leaving behind a rich legacy. "It is with deep sadness that we inform the peaceful passing of PRS Oberoi, Chairman Emeritus of The Oberoi Group, earlier today," a statement said. A luminary in the hospitality industry, Oberoi's legacy transcends borders, leaving an indelible mark on the global landscape, it added. PRS Oberoi received numerous awards and accolades, amongst the most noteworthy the Padma Vibhushan, in recognition of his exceptional contribution to the country in tourism and hospitality. He was also honoured with the Lifetime Achievement Award at ILTM ( International Luxury Travel Market), recognizing his exceptional leadership and vision. PRS Oberoi was presented with the 'Corporate Hotelier of the World' award by HOTELS magazine USA. The 6th International Hotels Investment Forum in Berlin honoured him with the prestigious Lifetime

Hospitality major EIH Q2 net profit rises over 4-fold to Rs 94.14 cr

Hospitality major EIH Ltd on Friday reported an over four-fold rise in its consolidated net profit to Rs 94.14 crore in the second quarter ended September 30, 2023, driven by higher revenue. The company, which owns and operates hotels and resorts under the Oberoi and Trident brands, had posted a consolidated net profit of Rs 22.35 crore in the year-ago period, EIH Ltd said in a regulatory filing. Consolidated revenue from operations was at Rs 530.57 crore in the quarter under review as against Rs 401.05 crore in the corresponding period a year ago, it added. Total expenses in the second quarter were higher at Rs 426.43 crore as compared to Rs 355.9 crore in the last fiscal. EIH Ltd Executive Chairman Arjun Oberoi said the company achieved "exceptional financial results in the second quarter. We've seen a significant growth in both revenue and profitability." He further said the company is committed to expanding its presence in key markets.

Travel and tourism industry's hiring demand up 44% YoY in August: Report

Sales and business development roles have the highest hiring demand in the travel & tourism industry, and demand for gig workers, such as photographers, event planners, etc have increased by 14%

Hiring intent for freshers in travel & hospitality sector to rise 15%

With the travel and hospitality industry booming, the hiring intent in the sector is expected to grow by 15 per cent for freshers in the second half (H2) of this year, according to a report. The hiring intent for the travel and hospitality sector stands at 15 per cent for H2 (July-December), compared to 10 per cent in the first half of this year, according to learning and employability solution company TeamLease EdTech's 'Career Outlook Report HY2, 2023'. In the sector there are top 5 job roles that are poised to shape the careers of Indian freshers within the vibrant travel and hospitality domain, including food and beverage (F&B) associate, travel consultant, event coordinator, junior chef and business development executive, it said. "Our Career Outlook Report HY2, 2023 highlights the ever-changing landscape for freshers, with the travel and hospitality sector presenting bright prospects. We remain steadfast in our commitment to empowering young professionals with the knowledge .

OYO added 2,800 new corporate clients in Jan-July, up 11.75% YoY: Report

Hospitality tech platform OYO has added nearly 2,800 corporate clients during the January-July 2023 period, up 11.75 per cent year-on-year, according to a report. The company in its report titled 'OYO Business Travel Trends Report 2023' revealed that it recorded 20 per cent revenue growth from business travel in January-July 2023 against the year-ago period. "OYO had added 2,471 corporate clients in the same period last year recording nearly 12 per cent YOY (year-on-year) growth," the report said on Friday. The report also said that Hyderabad has emerged as the leading city, adding 660 corporate clients, followed by Gurugram with 593 clients, Delhi with 343 clients, Bengaluru with 315 clients, Mumbai (282 clients), Kolkata (268 clients) and Pune (218 clients). Many other business hubs such as Noida, Lucknow, Kochi, Jaipur, Chennai and Coimbatore have contributed to the growth. Hyderabad has also contributed the most towards revenue growth followed by Pune, Delhi, Gurugram and ...

Indian hospitality sector on a comeback trail with promising growth-report

CBRE reports investments in the Indian hospitality sector to exceed $2.3 bn in the coming two to five years

Job opportunities in hospitality sector rose by 60% in last year: Report

The demand for jobs in the hospitality sector rose 60 per cent in the last one year, mainly due to resumption of travel post the pandemic, according to a report. There is a growth of about 60 per cent in job postings and 20.10 per cent increase in job seeker interest in the hospitality sector, indicating recovery of the hospitality industry, global job site Indeed said in its report. The report, released on Friday, is based on an analysis of data on Indeed platform from March 2022 to March 2023. Delhi-NCR emerged as the top city for hospitality job opportunities, with a 20.37 per cent rise in job postings over the past year, followed by Mumbai and Bengaluru. With increasing inter-state travels, there continues to be a rising demand for job opportunities in the hospitality sector, it added. "The hospitality sector was perhaps one of the most affected industries since... the pandemic. The growth trajectory of this field has truly been impressive as it continues to grow at a rapid pa

OYO asks govt to probe FHRAI's 'illegally-run' executive committee

Claims committee's actions hurting small hotel owners; constant friction with organised players discouraging SMEs and entrepreneurs from moving ahead with the times and with technology

Budget 2023: FHRAI pitches for infrastructure status to hospitality sector

The hospitality sector needs to be accorded infrastructure status by the Centre to help it avail long-term funds under the RBI infrastructure lending norm criteria, according to Federation of Hotel & Restaurant Associations of India. In its pre-Budget demand, the Federation of Hotel & Restaurant Associations of India (FHRAI) said although industry status has been accorded to tourism and hospitality by many state governments, the incentives and privileges associated with an industry have not been conferred to the sector. "The industry needs infrastructure status to be accorded by Government of India to enable the hospitality sector avail long-term funds under the RBI Infrastructure lending norm criteria," FHRAI Secretary General Jaison Chacko said in a statement. This will enhance quality accommodation supply and therefore, stimulate higher global and domestic travel demand, he added. Chacko further said tourism and hospitality should be placed on the concurrent list of the ...

From packaged food to hotel menus: ITC goes gung ho on millets

ITC is also developing a comprehensive millets-based portfolio under popular brand names and in familiar formats for easier adoption

Hotels, resorts sold out on high demand for Christmas-New Year celebrations

The domestic hospitality industry is gearing up to make the most of full-fledged Christmas and New Year celebrations this time around after two years of washout by the pandemic, with rooms at many hotels and resorts already sold out. As people seek to make up for the winter holidays lost to COVID-19, destinations like Karjat, Lonavala, Vizag, Dharamshala, Udaipur, Manali and Gir are witnessing good demand, apart from traditional popular places like Goa, Kerala and Shimla. "The year-end festive season looks very positive and this year appears to be one of the best years so far for the hospitality sector," Apeejay Surrendra Park Hotels Ltd Managing Director, Vijay Dewan told PTI in an e-mailed response. He further said, "All our hotels are gearing up for sold out spaces along with high occupancy in rooms. This year we have lined up some great events during Christmas and New Year's which the guests missed out during the last 2 years due to the pandemic." Mahindra Holidays & Resorts ..

Hospitality industry sees welcome boost from India's G20 presidency

As President, India will host nearly 200 meetings across the country that thousands of delegates are expected to attend along with media, govt officials, event managers, private sector representatives

Hospitality sector's per-room revenue grew 89.6% YoY in Q3: JLL report

Room demand across business cities remained strong during the quarter, primarily driven by MICE and other business-related travel

Penalties on OYO, MakeMyTrip, GoIbibo big win for hospitality sector: FHRAI

With the penalties of Rs 223.48 crores and Rs 168.88 crores on MMT-Go and OYO for anti-competitive conduct, the FHRAI described it as "one of the biggest wins for the hospitality industry"