Page 6 - Hospitality Sector

Union Cabinet enhances ECLGS corpus by Rs 50,000 crore to Rs 5 trn

The Union Cabinet on Wednesday approved raising the outlay of the Emergency Credit Line Guarantee Scheme (ECGLS) by Rs 50,000 crore to Rs 5 lakh crore and the additional amount will be earmarked for enterprises in the hospitality and related sectors. In the 2022-23 Union Budget, there was a proposal for raising the limit of ECLGS from Rs 4.5 lakh to Rs 5 lakh crore to help hospitality sector hit by the coronavirus pandemic. The hike in the amount has been made on account of the severe disruptions caused by the pandemic in the hospitality and related sectors, Information and Broadcasting Minister Anurag Singh Thakur said while briefing the media on various decision taken by the Cabinet. He said that loans worth around Rs 3.67 lakh crore have been sanctioned under ECLGS till August 5, 2022.

Coffee Day Enterprises Q1 net loss narrows to Rs 18 cr; revenue up two-fold

Revenue from coffee, related business in April-June period of FY23 came in at Rs 189.63 cr as against Rs 67.16 cr earlier. Revenue from hospitality services stood at Rs 14.32 cr as against Rs 2.40 cr

Best yet to come for hospitality sector: IHCL CEO Puneet Chhatwal

The Tata Group's hospitality arm reported a record quarterly performance for the June quarter as all-round growth helped the firm surpass the 2019-20 operational performance

Sold out: Hospitality firms set to cash in on upcoming long weekend

With fears regarding the pandemic largely abating, vacationers are flocking to popular destinations

Withdrawal of excise policy: Too early to gauge impact, say restaurateurs

Delhi-based restaurateurs on Saturday said it was too early to gauge the impact on the hospitality industry after the city government's announcement to withdraw its new excise policy 2021-22

How to plan a holiday trip? Here's what you need to know before travelling

Planning a vacation? It is a must to carry copies of documents like your passport, IDs, Aadhaar, PAN, etc. Try to choose the best hotel in your travel destination that suits your budget.

Sebi to auction properties of Royal Twinkle, Citrus Check Inns on July 15

Capital markets regulator Sebi on Friday said it has lined up as many as 39 properties of Royal Twinkle Star Club Pvt Ltd and Citrus Check Inns Ltd for an auction on July 15 at a reserve price of Rs 66.51 crore. The move is part of Sebi's effort to recover funds worth thousands of crores of rupees raised by the companies. In a notice, the Securities and Exchange Board of India (Sebi) said the auction will be conducted between 11 am to 1 pm on July 15, 2022. The properties to go under the hammer include office premises, residential flats, land parcel, shops, land & buildings located in Gujarat, Maharashtra, Goa, Daman, and Dadra and Nagar Haveli. From November 2019 to March 2022, more than 266 properties were auctioned at a reserve price of Rs 1,297 crore. The move came after a Supreme Court order in December 2019, which directed the sale-cum-monitoring committee, headed by retired Justice J P Devdhar, to proceed with the sale of 114 properties of the companies within six ...

Hospitality deals pick up after a lull as HNIs, family offices check in

Family offices, high net-worth individuals and institutional investors are looking at the sector, say advisory firms

Can rising Covid cases thwart contact-sensitive sectors' recovery?

The economy is recovering from lockdowns, but the recent uptick in Covid-cases across the country is worrying the industry again. Here's a report on the outlook for the contact-sensitive sector

Today headlines: Economy to feel pinch; IAMAI vouches for lower age consent

Business Standard brings you top headlines of the day

ICICI Securities gives 'buy' call for Indian Hotels, Lemon Tree

Brokerage house ICICI Securities has given a 'buy' call for hospitality stocks such as Indian Hotels Company and Lemon Tree Hotels.

Hospitality sector rings in FY23 on positive note amid broad-based recovery

Business hotels, which saw a delayed recovery, are back stronger and sooner as big ticket conferences and meetings have resumed in a big way, said hotel industry executives

Sterling Holiday Resorts appoints Vikram Lalvani MD & CEO

He takes over from Ramesh Ramanathan, who continues to be the Chairman of the company, Sterling Holiday Resorts said in a statement

Hospitality sector prepares for biz uptick after three waves of pandemic

Led by weddings, hotels see surge in bookings across segments

FM meets tourism, hospitality representatives on banking-related issues

Union Finance Minister Nirmala Sitharama met with representatives from travel, tourism, and hospitality sectors to discuss various banking-related issues.

Business hotels start seeing signs of recovery after protracted lull

Pent-up demand in MICE segment as firms start hosting physical events again, and easing of curbs on international travel will also help in getting closer to pre-Covid revenue levels, says industry

Street signs: Hospitality in focus, Vedant Fashions GMP at 5%, and more

Brokers are advising clients to build long positions in hotel and restaurant stocks on hopes of a sharp uptick in business

Budget 2022: Govt extends ECLGS till Mar 2023; includes hospitality sector

Total guarantee cover expanded to Rs 5 trillion

Budget FY23: Covid-hit hospitality sector demands infra status for hotels

With fresh wave of Covid plunging hospitality sector back into uncertainty, industry body said it has asked government to consider granting infrastructure status to hotels, extend moratorium on loans

Omicron variant dampens festive spirit, worries hospitality sector

A restaurant owner in Khan Market, the buzzing shopping and eating destination in the heart of the city, said this is their turnaround moment but it may not happen.