Page 4 - Hospitality

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

As the economy rebounds, India's hotel industry may have its best year ever

After posting a hike of 13 per cent in FY22 the ARR of premium hotels is estimated to have increased by 24 to 26 per cent in FY23, a decadal high of Rs 7,500 to 10,000, according to a Crisil report

Budget 2023-24: Hospitality will benefit, says Massive Restaurants' Kalra

Zorawar Kalra, Founder & MD, Massive Restaurants, talks about Union Budge 2023

Small towns witness highest increase in room bookings in 2022: OYO

India's small towns like Hathras, Sasaram, Karaikudi, and Tenali witnessed the highest increase in room bookings in 2022, according to hospitality and travel-tech firm OYO's annual data. With travel bouncing back strongly after the pandemic, OYO Travelopedia 2022 found that Hyderabad, Delhi, Bangalore, Kolkata, and Chennai emerged as the most booked cities in India for business travel. "Uttar Pradesh became the most visited state in 2022. Smaller towns and cities such as Hathras (Uttar Pradesh), Srinagar in Uttarakhand, Sasaram (Bihar), Karaikudi (Tamil Nadu) and Tenali (Andhra Pradesh) observed the highest increase in bookings in 2022 versus 2021. June 4, 2022, was the most booked day in 2022," OYO said in a statement citing its data. While Hyderabad, Delhi, Bangalore, Kolkata, and Chennai are the most booked cities for business travel, OYO said Jaipur, Goa, Kochi, Varanasi and Visakhapatnam topped the charts as favourite leisure destinations in 2022. "Varanasi became the most boo

Airbnb to verify all guests, crack down on party bookings, says report

Online hospitality major Airbnb has announced that all guests will be required to verify their identity for a successful booking, while it will also crack down on parties booked through its service

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

Fitch downgrades OYO's ratings over uncertainty in making profit

Rating agency expects the company's FY23 revenue to increase by around 30%, lower than its forecast.

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

The talent crunch: Why fresh graduates are fleeing the hospitality sector

As occupancy peaks, hospitality firms find themselves competing with retail, e-commerce, real estate and IT for employees