Page 6 - Hospitality Sector
Leisure Hotels Group to add 6 properties by 2022-end
Hospitality firm Leisure Hotels Group is looking to add six properties across the country by the end of 2022 as part of its expansion plans in the country, a top company official said. Currently, the company has 28 properties with around 1,000 rooms spread across four states Himachal Pradesh, Uttarakhand, Uttar Pradesh and Goa. "We are looking to add a total of six properties by the end of the next year. So, the number will be somewhere in the region of 34 by the end of 2022," Leisure Hotels Group told Vibhas Prasad PTI. The upcoming properties will be in Varanasi, Dharamshala, Bhimtal, Mussoorie, Naukuchiatal and Jaipur, he added. About the investment, the company is planning for opening the upcoming hotels, Prasad said these would be largely under the asset-light model. So, the company will not be putting in money from its own pockets, but the owners will be putting somewhere to the tune of about 100 crores in total, for them. "We, over and above this, are looking at a few oth
 "Leisure Hotels Group to add 6 properties by 2022-end")
Street finds comfort in hospitality stocks on hopes of recovery in biz
Share prices have risen in past fortnight on hopes of recovery in biz
 "Street finds comfort in hospitality stocks on hopes of recovery in biz")
Fortune Park Hotels to add five hotels in India by December 2022
These five hotels will be -- Fortune Resort Benaulim Goa, Fortune Park in Hoshiarpur (Punjab), Fortune Park in Tirupur (Tamil Nadu), Fortune Select in Goa and a Fortune Inn in Haldwani (Uttarakhand)
 "Fortune Park Hotels to add five hotels in India by December 2022")
Suba Group's Click acquires controlling stake in leisure group1589 Hotels
Click Hotels envisions crossing 3,000 rooms and plans to have a pan India presence by 2021.
 "Suba Group's Click acquires controlling stake in leisure group1589 Hotels")
Holiday first, pay later: Offer suited only to travellers with deep pockets
No amount blocked on advance booking but such borrowing is reckless
 "Holiday first, pay later: Offer suited only to travellers with deep pockets")
US leisure, hospitality pay surges to a record. Now will workers come?
Hotels, restaurants and other businesses are boosting pay as they try to rebuild their staffs and meet increasing demand from Americans ready to venture out
 "US leisure, hospitality pay surges to a record. Now will workers come?")
A soaring flight plan: Bird Group eyes Air India's ground handling arm
The promoter-brothers, distant cousins to IndiGo's Rahul Bhatia, are eyeing Air India's ground handling subsidiary to augment their aviation services business even as they make a big play in EVs
 "A soaring flight plan: Bird Group eyes Air India's ground handling arm")
Recovery play? Brokerages see up to 40% upside in this Jhunjhunwala stock
Shares of Indian Hotels Company have rallied 105 per cent from its 52-week low levels hit in May last year
 "Recovery play? Brokerages see up to 40% upside in this Jhunjhunwala stock")
Pick-up in leisure travel helps hotels post sequential revenue growth
Cost cutting initiatives by Indian Hotels, EIH helps restrict loss at the operating level
 "Pick-up in leisure travel helps hotels post sequential revenue growth")
After Budget newsflow on GST rates, demand hold key for ITC stock
Shares of the cigarette maker hit 52-week high after the Budget left taxes unchanged
 "After Budget newsflow on GST rates, demand hold key for ITC stock")
A fourth of rooms at risk if Budget doesn't help sector: Hotel bodies
Urge infra status for hotels worth over Rs 25 crore, lower GST and income tax rates
People are realising they can't stay locked forever: Sudeep Jain of IHG
In a Q&A, the Southwest Asia MD of the hotel chain says sentiment in the hospitality sector is improving with the reduction in the number of Covid-19 cases and vaccination drive
 "People are realising they can't stay locked forever: Sudeep Jain of IHG")
OYO to make further investments in Europe: CEO Ritesh Agarwal
Agarwal was speaking at the India Symposium 2020, organised by the Institute of Chartered Accountants of India (ICAI) Netherlands Chapter and India Dutch Financial Corridor (IDFC)
 "OYO to make further investments in Europe: CEO Ritesh Agarwal")
US-focused disounts make Black Friday sale a white space in India
Post-Diwali weeks are dull here as most of the shopping budget is spent during Dussehra and Diwali period in the country
 "US-focused disounts make Black Friday sale a white space in India")
Relief & uncertainties for hospitality sector: A reality check amid Covid
Business Standard's Nivedita Mookerji does a reality check from Ground Zero. Listen to this podcast
 "Relief & uncertainties for hospitality sector: A reality check amid Covid")
Hospitality firms may go for fund raising to stay afloat as recovery eludes
EIH's successful rights issue to help firm reduce debt substantially, paves way for more companies to actively consider fund raising
 "Hospitality firms may go for fund raising to stay afloat as recovery eludes")
Hospitality finds little room in Kamath panel's debt restructuring plan
Majority of hotels do not meet the eligibility criteria of the RBI-appointed panel
 "Hospitality finds little room in Kamath panel's debt restructuring plan")
We're seeing huge demand from ecommerce, BFSI, says Startek's Rajiv Ahuja
"The future of work, according to me, will be hybrid -- work from home and brick and mortar."
 "We're seeing huge demand from ecommerce, BFSI, says Startek's Rajiv Ahuja")
Hospitality major EIH gets board approval to raise up to Rs 350 cr
The rights issue price has been fixed at Rs 65 per equity share, including a premium of Rs 63 per equity share over face value of Rs 2 per share, it added
 "Hospitality major EIH gets board approval to raise up to Rs 350 cr")
Kamath panel recommendations: Implementation to be key, say hotel execs
Hospitality firms say banks should be willing to restructure
 "Kamath panel recommendations: Implementation to be key, say hotel execs")