Page 3 - Hospitality

Sushen Mohan Gupta:The Man Who Has Redefined South Indian Hospitality

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'Hospitality industry faces talent crunch, to add 1 mn jobs in few years'

The hospitality industry is expected to add around 1 million jobs in the next few years as the sector is grappling with huge shortage of talent amid rapid expansion after the Covid-19 pandemic, say experts. The current demand-supply gap of talent in the industry stands at around 55-60 per cent, indicating a substantial mismatch between the needs and the available talent pool, Randstad India Director, Professional Talent Solutions, Sanjay Shetty told PTI. Issues related to talent shortage was fuelled by the post-pandemic boom in demand, Shetty said, adding that the the momentum is expected to continue in the next few years with at least a million jobs being created. According to industry leaders, the overall hiring has more than quadrupled post-Covid with entry-level positions emerging as the most sought-after in the past two years. Some companies are upskilling existing talent or recruiting from other industries to fill the void, while others have intensified efforts to attract and

At Rs 100 crore, OYO posts FY24 as maiden profitable fiscal: Ritesh Agarwal

Travel tech platform OYO reported financial year 2023-24 as the maiden profitable fiscal with a net earning of nearly Rs 100 crore, founder Ritesh Agarwal said on Thursday. In a post on social media platform X, Agarwal said he sees growth ahead "not just in India" but also in OYO's other key markets of Nordics, South East Asia, the US and UK. "While a delighted customer or a hotel partner brings the biggest smile on my face, our first cut financials of FY24 have me humbled as well," Agarwal shared. "We had our maiden net profitable financial year at nearly Rs 100 crore. This was our eighth consecutive quarter of a positive EBITDA and we also have a cash balance of around Rs 1,000 crore," he added. He further highlighted that global credit rating firm Fitch has also taken note of OYO's improved performance and strong cash flows, upgrading its credit rating. "I see growth ahead not just in India with emerging travel trends such as premiumization, spiritual travel, business travel an

Wockhardt Hospitals launches early recovery program for liver transplant

The hospital group also claims that the ERP program improves the survival rate of the patients by approximately 2-3 per cent while enhancing patient outcomes through advanced techniques

Surya Eye Announces 3rd Location in Bandra (W)

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India's hospitality sector saw investments worth $401 mn in 2023: JLL

Sector has been witnessing a surge since 2023, with 25,176 keys signed and 12,647 keys opened, stated the report titled 'Hotel Investment Trends - India 2023'

Hospitality industry expects 11-13% revenue growth on domestic demand

The hospitality industry is expected to clock 11-13 per cent revenue growth in 2024-25 on steady domestic demand and a rise in foreign travellers, a report said on Monday. This revenue growth will follow a likely 15-17 per cent growth in the current financial year, backed by steady domestic demand and ramp-up in foreign travellers, Crisil Ratings said in a report on Monday. The strong demand dynamics along with modest new supply will keep the operating performance of the industry healthy over the near term, the report added. According to the report, the healthy operating performance will augur well for the industry profitability where the EBITDA, or earnings before interest, taxes, depreciation, and amortization will continue the strong momentum over the current and the next fiscal. This, along with limited capital expenditure, will keep the credit profiles strong, the report noted. "The domestic travel demand, which remained a key driver this fiscal, will sustain next year as wel

OYO forays into sports hospitality biz, shortlists 100 hotels in 12 cities

Hospitality and travel-tech firm OYO on Thursday announced its foray into sports hospitality business shortlisting 100 hotels across 12 key cities, including Delhi, Chennai, and Bangalore, to cater to large sports events. The sports hospitality business aims to meet the unique needs of large sports events with a focus on providing end-to-end solutions, including providing accommodation to athletes and sports officials participating in various sports events, the company said in a statement. Under the vertical, a wide array of accommodation options, ranging from budget-friendly to premium hotels, will be offered to ensure a comfortable and convenient stay to participants and attendees throughout the event, it added. "The launch of our sports event management unit aligns with OYO's commitment to continuous innovation and customer-centric solutions. With a focus on delivering quality hospitality, OYO plans to offer athletes a conducive and comfortable environment, ensuring they can full

Radisson Hotel Group added 21 properties in India under 9 brands in 2023

The Radisson Hotel Group on Wednesday said it has accelerated its growth in India by signing 21 hotels under a portfolio of nine brands in 2023. These 21 hotels also include the signing and opening of the group's first property at Ayodhya, in Uttar Pradesh -- Park Inn by Radisson Ayodhya, as the destination gained a lot of national and international attention following the consecration of the Ram Temple last month, Radisson group said in a statement. In India, the Group continues to enjoy a first-mover advantage in the country's key pilgrim destinations. It will soon introduce branded hotels in Vrindavan in Uttar Pradesh and Ujjain in Madhya Pradesh, the statement added. Globally, Radisson Hotel Group added over 30,000 keys to its international portfolio. In the Indian market, Radisson Hotel Group is one of the largest international hotel operators with over 165 hotels in operation and development. It continues to be the largest hotel operator in tier I markets like Delhi NCR ...

D B realty board gives in-principal nod to demerge hospitality business

Mumbai-based D B realty on Friday said its board has in-principally approved a proposal to demerge the company's hospitality business as part of its efforts to unlock the value for shareholders. In a regulatory filing, the company informed that the Board of Directors has considered and in-principally approved the proposal to demerge its hospitality business consisting of hotel business and assets. The assets include Goan Hotels & Realty Pvt Ltd (a wholly owned subsidiary), BD and P Hotels (India) Pvt Ltd (a subsidiary), and Bamboo Hotel And Global Centre (Delhi) Pvt Ltd (an associate of the company). "The demerger will unlock the value of the real estate and hospitality business for the company's shareholders, enable a differentiated strategy to capture the huge potential of the Indian hospitality sector, and attract a distinct set of investors, partners, collaborators, and leadership talent focused on the hospitality business," D B Realty said. It will also ensure that the real ..

Apeejay Surrendra Park Hotels to ramp up portfolio to 4,603 keys in 5 years

The hospitality brand, which started its first hotel on Park Street in Kolkata, has about 30 hotels across 20 cities today - 7 are owned and 3 leased

Airbnb, U'khand Tourism sign initial pact to enhance hospitality standards

Airbnb on Thursday said it has inked an agreement with the Uttarakhand Tourism Development Board (UTDB) to build host capacity in lesser-explored destinations. Under the Memorandum of Understanding (MoU), Airbnb will undertake capacity building activities in the selected pilot locations to enhance local hospitality standards, the company said in a statement. This partnership will focus on onboarding homestays onto the Airbnb platform. "This partnership with Airbnb will further expand our efforts to promote homestay culture in our state. "Individuals in the tourism sector will receive training on responsible hosting which will unlock their potential to attract guests from India and abroad. Through this partnership, we're confident the travellers will be presented with enriching, immersive experiences," Uttarakhand Tourism Secretary and UTDB CEO Sachin Kurve said. Airbnb will conduct workshops in the identified pilot destinations to train 'model hosts', will conduct a thorough revie

Who was Biki Oberoi, the man who set high standards in hospitality industry

Born in 1929, Biki Oberoi was the executive chairman of EIH Limited, the flagship company of the Oberoi Group, from 2002 to 2022

Hotel stocks to ride the elevator to revenue growth on room rates

Listed players hit the 'suite' spot of growth in the business segment in Q2 defying seasonality

As business booms for Indian hotels, you can't check in any time you like

Domestic tourism is booming, helping hospitality groups to beat pandemic downturn

Kolkata Port floats EoI for commercial development on riverfront lands

The Syama Prasad Mookerjee Port has floated an expression of interest (EOI) for commercial and hospitality projects on riverfront lands in Moyapur, the Noorpur-Hooghly point and Budge Budge in South 24 Parganas district, officials said on Wednesday. The 20.49-acre site at Moyapur is proposed for development of a luxury resort, as it still holds remnants of the old gunpowder magazine built by the British, they said. Records indicate that from June 1, 1803, all ships were asked to store their gunpowder at the new facility in Moyapur, the port's Chairman Rathendra Raman said. He said the project site still has four magazines on the west side, 2 pillbox (guardhouse) on the south and one magazine on the northern side. "The Moyapur magazine site still holds remnants of the old, and exhibits immense potential to be developed as a recreational spot for people of Kolkata and its surroundings, and as a place of historical importance," Raman said. The magazine here refers to an ammunition ..

Club is a place for people to work, meet, entertain: Vivek Narain

They are the third space, 'away from home and office': CEO of The Quorum

Rixos Joins As A Sponsor For WOW Awards Asia, Enriching the Experiential Landscape

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EIH's profit after tax jumps multi-fold to Rs 92 cr in March quarter

Hospitality firm EIH Limited on Monday said its consolidated profit after tax in the fourth quarter ended March grew multifold to Rs 92 crore over the year-ago quarter. Profit after tax grew to Rs 329 crore in FY23 as against the previous year, the company said in a statement. Its consolidated revenue stood at Rs 2,096 crore in the financial year ended March, up 101 per cent from a year ago, it stated. Vikram Oberoi, Managing Director & CEO, EIH Limited, said, FY23 has been a record year for EIH Limited, reporting the highest ever full-year consolidated revenue, EBITDA and PAT. Hotels managed by EIH Limited achieved an industry-leading RevPAR index of 127 per cent for the FY23, on the back of an ARR index of 120 per cent".

Thomas Cook India's Q4 total income rises 150% to Rs 1,300 crore

The Group's operating Ebitda grew significantly to Rs 270 crore for the full financial year 2022-23 (FY23) against a loss of Rs 120 crore in FY22