Page 3 - Hospitality

Hospitality sector gets a boost in Budget with tourism-focused measures

Experts say domestic, international, spiritual and medical tourism set to receive a significant boost

Budget 2025 boosts hospitality, health, education: Chef Manish Mehrotra

Through the announcements made in this Budget, there will be some job creation but more is required, Mehrotra said

UP receives Rs 1 trn investment proposals in hospitality sector in 2 years

Most of the investment is proposed in religious and spiritual centres such as Varanasi, Ayodhya and Prayagraj apart from traditional tourism hotspots like Lucknow, Agra, Kanpur, and Noida

Poised to achieve portfolio of 700 hotels by 2030, double revenue: IHCL

Tata Group-backed Indian Hotels Company on Thursday said it is "well poised" to achieve the portfolio of 700 hotels by 2030 under its "Accelerate 2030" strategy. The country's largest hospitality firm currently has 360 hotels under its portfolio, including 237 operational and 123 hotels in the pipeline. "IHCL is well poised to achieve its goal of a 700 hotel portfolio under its strategy - Accelerate 2030," the company said. IHCL also said it executed "85 signings and 40 openings in 2024". Suma Venkatesh, Executive Vice President - Real Estate & Development, IHCL said, "In line with IHCL's strategy Accelerate 2030, the growth continues to be focused on capital light, accounting for 75 per cent of the year's signings." She added, "The iconic Taj brand remains at the forefront of this growth with 19 signings in 2024. This is reflective of the growing affluence and demand for luxury experiences with signings spanning metros, pilgrimage locations, leisure destinations, state capitals .

Oyo completes US-based G6 Hospitality acquisition for $525 million

The deal is expected to increase Oyo's earnings before interest, taxes, depreciation and amortisation (Ebitda) to over Rs 2,000 crore in FY26

Hospitality CEOs raise demands of infra status, increasing marketing spends

Infrastructure status and easing taxation have been a long-standing demand of the sector

Ventive Hospitality to raise Rs 1,600 crore through IPO to reduce debt

Investors can bid for a minimum of 23 equity shares and in multiples of 23 equity shares thereafter

Delhi CEO captures 'peak Bengaluru moment' in hotel; netizens divided

Ananya Narang discovered instead a virtual receptionist managing all guest services remotely, which she described as her own 'peak Bengaluru moment'

Expect strong demand, occupancy in Q3, Q4 after subdued 1st qtr: EIH Ltd

Hospitality major EIH Ltd expects strong demand and occupancy in the third and fourth quarters of this fiscal after witnessing moderation in the April-June period due to elections and heatwave, according to its Managing Director and CEO Vikram Oberoi. The impact of this year's general elections on demand was higher compared to the previous elections, he told analysts. "Really, as a function of supply and demand, we had the election this year and I think at least our analysis shows that when compared to previous elections, which we looked over the previous election, we looked at the impact on this election has been more than in the previous election. We looked at the last election as well," Oberoi said. Besides, he said in many cities in Rajasthan where the company has leisure hotels and in Agra, temperatures have been extremely high this summer. "We still remain optimistic that foreign travel is bouncing back. And with strong Indian demand from the domestic market for luxury hotels

India's hospitality sector to see strong tailwinds, says Thomas Cook MD

The country's hospitality sector is likely to witness strong tailwinds in the medium to long term, with demand outpacing supply, Thomas Cook India's Executive Chairman Madhavan Menon said. In an interview with PTI, he shared that the company's expansion plans in India are focused on a phygital model, and it is looking at opening around 20 new holiday outlets this fiscal through a combination of owned and franchise locations, and this will include key source markets across Tier 1-3 cities and towns. The company reported a consolidated net profit of Rs 73.13 crore during the first quarter ended June 30, marginally up from Rs 70.93 crore a year ago, according to a regulatory filing. During the April-June quarter, Thomas Cook India's total income rose to Rs 2,134.33 crore from Rs 1,931.87 crore in the year-ago period. "In the medium and long term, the tailwinds for the hospitality sector remain strong, with demand expected to continue outpacing supply," Menon told PTI. Citing industry

Office or hotel? Workspaces embrace hospitality trends for employees

New-age offices and co-working spaces are adding creches, cafes, and concierge services

'Say goodbye to 9-to-5 jobs': LinkedIn co-founder latest prediction on AI

LinkedIn co-founder Reid Hoffman forecasts a seismic shift in the workforce landscape, driven by the relentless advance of artificial intelligence

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