Page 5 - Hospitality

OYO hits weekend with over 300K bookings; surpasses New Year's bookings

OYO also observed a 134 per cent jump in weekend vs weekday bookings during the festive weekend in 2022 vs 111 per cent in 2019.

Indian travel, hospitality sector rebounds with maximum hiring in March

However, the travel and hospitality industry is not quite back to pre-pandemic levels but is certainly on the way to recovery.

Domestic leisure to be strong even after overseas travel resumes: Experts

Temperatures are running high for those in the travel and hospitality business because they expect demand for both inbound and outbound travel to explode

FM Nirmala Sitharaman holds meeting with hospitality, tourism sectors

Finance Minister Nirmala Sitharaman on Friday held a meeting with representatives from travel, tourism and hospitality sectors to discuss various credit related issues with them. The meeting was also attended by senior finance ministry officials and heads of various public sector banks (PSBs). "Along with the FM, the meeting was also attended by MoS Finance Shri @DrBhagwatKarad; Finance Secretary; Secretaries for Financial Services, Economic Affairs & Revenue; chiefs of PSBs & IBA, besides senior officials from @FinMinIndia," the finance ministry said in a tweet. It is to be noted that Budget 2022-23 had proposed to open an additional Rs 50,000 crore window under the Emergency Credit Line Guarantee Scheme (ECLGS) to support hospitality and related services sector. "Hospitality and related services, especially those by micro and small enterprises, are yet to regain their pre-pandemic level of business. Considering these aspects, the ECLGS will be extended up to March 2023 and ..

Christmas, New Year help hospitality firms' Q3 earnings as Covid curbs ease

Most hospitality firms, particularly the ones that have a strong presence in the leisure locations, report year-on-year growth.

Hospitality sector improved in Q42021 on vaccination, eased curbs: JLL

Indian hospitality industry is on an upward trajectory with traveller confidence back, led by improved vaccination rates as well as ease in travel restrictions, investment management company JLL said.

Hospitality body says new Maharashtra Covid rules to hurt hotels, eateries

Urges state to allow operations till 11 p.m. at least as against 10 p.m. currently

Reliance to buy control of New York's Mandarin Oriental hotel for $98 mn

Company says the acquisition will help the group increase its consumer and hospitality footprint.

Hospitality industry on alert mode amid threat from Omicron variant

With states imposing restrictions on gatherings for Christmas and New Year celebrations, hoteliers and restaurant operators are, however, staring at possible booking cancellations

Tata Power, ama Stays & Trails tie up to set up EV charging stations

Tata Power has collaborated with am Stays & Trails, India's first branded homestay portfolio by Indian Hotels Company Ltd, to set up EV charging stations at over 30 of its villas and heritage bungalows across 11 destinations. A rising demand for sustainable transport infrastructure has resulted in an increasing number of hospitality brands investing in electric vehicle (EV) charging points, a statement said. The collaboration is a step forward in catering to the evolving needs of environmentally-conscious customers by reducing their travel carbon footprint and embracing a more sustainable future. This marks an important step for both flagship Tata Group companies in furthering their commitment towards adopting more sustainable and cost-efficient business practices. Under the partnership, Tata Power EZ Charge has established EV chargers for guests staying at the am Stays & Trails homestays. Tata Power has deployed an extensive EV charging infrastructure with over 1,000 EV ...

Hotels roll out red carpet for year-end vacationers after brisk Dussehra

For the annual recovery to reach 2019 levels, though, it may still take another six to 12 months

About 46% Indians plan to travel in Oct-Dec, finds survey

As much as 46 per cent of the respondents in India are looking to travel in October-December: Survey

Hotels see green shoots of recovery as the fear of the pandemic recedes

But recovery in average daily rates remains some distance away

Radisson Hotel Group to make deeper inroads into tier-4 and 5 towns

The multinational hotel chain to open 12-15 hotels each year for 5 years

Oyo to file for $1.2 bn IPO next week, sees recovery after pandemic: report

Startup has endured months of layoffs, cost-cuts and losses during the coronavirus outbreak.

Hyatt Hotels charts plan to increase India footprint by 70% in two years

Aims to add 3,800 keys by 2023-end

ZFW Hospitality enters Mumbai to scale 15 brands with 50 Dark Kitchens

New Delhi based ZFW Hospitality on Thursday announced its foray into the financial capital of the country where it plans to support over 15 brands with 50 dark kitchens and fulfilment centres. As part of its first cohort in Mumbai, ZFW will support the growth of over 15 brands such as Keventers, Vadilal, among others, as part of its immediate launch plans in Mumbai, the hospitality company said in a statement. ZFW Hospitality is a hyper-local expansion platform for food and beverage (F&B) and direct-to-consumer (D2C) brands. This expansion will help the platform scale up to the 100-store mark by August. ZFW, which already partners with leading brands, has established a strong presence in Delhi-NCR with over 35 fulfilment centres. Mumbai is a very strategic move for us, as it's the third-largest market in India for food delivery and hyper-local e-commerce after Delhi and Bengaluru. Most brands on their expansion trajectory prefer to cover the major metros as their first milestones

Underperforming hotels going dirt cheap but buyers lack appetite

20-25% of 150,000 branded hotels risk permanent closure; May room tariffs down 16-18% on average; occupancy drops to 18-20%, revenue per room down by 49-51%

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.

Hyatt Regency Mumbai suspends operations due to lack of funds

The Country Head also said that future reservations through Hyatt booking channels will remain temporarily unavailable.