Hotel

Pride Hotels targets IPO by March 2026 to fund renovations: Chairman

Hospitality chain Pride Hotels is targeting to launch initial public offering (IPO) by March 2026 to fund renovations of existing properties and pare debt, its Chairman & Managing Director Sureshchand Premchand Jain said. The Pune-based company, which filed its preliminary papers with markets regulator Sebi in October, is awaiting regulatory approval to float the IPO. The proposed IPO comprises a fresh issue of equity shares worth Rs 260 crore and an offer for sale (OFS) of 3.92 crore equity shares by existing shareholders. Of the fresh issue proceeds, Rs 159.68 crore will be used to modernise and renovate existing hotels, Rs 40 crore for debt repayment, and the balance for general corporate purposes. Total borrowings stood at Rs 65 crore as of March 2025, the draft papers showed. Elaborating on the utilisation plan, Jain told PTI that the company intends to deploy the funds over the next 12 to 27 months to undertake renovation, refurbishment and upgradation of six out of seven .

Chalet Hotels sees 'rapid growth' once new room occupancies stabilise

Business travel, MICE, and wedding season expected to drive Chalet Hotels' occupancy and RevPAR growth in H2 FY26

Michelin says it's honest about hotel ratings. Should we believe it?

For years questions have swirled in the travel industry about whether the company can maintain impartiality in awarding stars to local restaurants

Auro Realty plans $225 mn India bond sale to fund hotel, asset acquisition

Auro Realty's bond issue is in advanced stages and could be completed as early as this month, while private credit funds are expected to be investors, the bankers added

Goa real estate, hotel tariffs see 15-20% correction amid tourist surge

The substantial correction in real estate rates across Goa is a trend that analysts believe is part of a 'healthy cycle' that would create stronger foundations for growth in the future

Mahindra Holidays & Resorts India to add 850 rooms in FY26: CEO Manoj Bhat

Mahindra Holidays & Resorts India Ltd plans to add 850 rooms in the current fiscal as part of it ongoing strategy to have 10,000 rooms by 2030, according to its Managing Director and CEO, Manoj Bhat. The company, which added 520 rooms in FY25, could see a doubling of its capex in FY26 from the Rs 300 crore spent last fiscal depending on receipt of permits and regulatory approvals for its planned expansion, Bhat told PTI. "We had the highest ever room additions in FY25 and FY26 will be higher, and I think we'll add about 850 rooms... They'll come at various points, (spread from) from Q1 to Q4...," he said when asked about the company outlook for 2025-26. Mahindra Holidays & Resorts India Ltd (MHRIL) currently has total 5,800 rooms under its flagship brand Club Mahindra. On the total number of rooms expected in FY26, he said,"FY26, my guess is (it will be) anywhere between 6,500 to 6,600 rooms." When asked about capex for FY26, he declined to share an exact number saying "we ..

18% GST on dining at 'specified premises' hotels: How it changes your bill

Hotels with room rents under Rs 7,500 in FY25 aren't 'specified premises' unless they opt in voluntarily

OYO expects 60% jump in Q4 revenue at Rs 2,100 crore: Ritesh Agarwal

Global travel tech platform OYO expects to register over 60 per cent year-on-year growth in revenue for the fourth quarter ending March at Rs 2,100 crore, Founder Ritesh Agarwal told the senior leadership on Monday. The OYO Founder and CEO informed the company's top leadership that the sharp jump in Q4 revenue highlights the company's ability to drive sustainable, profitable growth. "We are on track to register over 60 per cent year-on-year revenue growth in Q4 FY25, reaching over Rs 2,100 crore. This marks a significant milestone and highlights our ability to drive sustainable, profitable growth. A key contributor to this performance has been the successful integration of G6 Hospitality, adding Rs 275 crore to our revenue," Agarwal said in the email sent to OYO's senior leadership, seen by PTI. Even without G6, its revenue stands strong at Rs 1,886 crore, demonstrating robust organic growth of 42 per cent, Agarwal said. G6 Hospitality, acquired by OYO from Blackstone in 2024, is a

OYO elevates Sonal Sinha as CEO of newly-acquired G6 Hospitality

Global travel-tech unicorn OYO on Friday announced the appointment of Sonal Sinha as Chief Executive Officer of G6 Hospitality, the American motel firm it recently acquired from Blackstone Real Estate. The acquisition, which was completed in December last year, added 1,500 franchised hotels across the US and Canada to OYO's portfolio, significantly expanding its North American presence. According to OYO, the combined entity is projected to generate a gross booking value of approximately USD 3 billion, with G6 Hospitality, which operates the Motel 6 and Studio 6 brands, contributing USD 1.7 billion. The integration of G6's portfolio with OYO's existing operations is expected to create significant synergies and accelerate growth across international markets, the company stated. "Sonal has been instrumental in driving OYO's international business to new heights," said OYO Founder & Group CEO Ritesh Agarwal. "His deep understanding of our operations and proven track record of ...

Seeing distinctive travel trends in India: Booking.com's Laura Houldsworth

"In India, we're witnessing distinctive travel trends, including spiritual and religious tourism" said Laura Houldsworth, MD & VP, APAC, Booking.com

Hilton unpacks growth plans with 75 Hampton brand hotels in India

Global hospitality major signs strategic licensing agreement with NILE Hospitality

Analysts remain optimistic on FMCG major ITC post hotel arm spin-off

During the pre-open session conducted by the exchanges on Monday, the discovered share price for ITC was Rs 455 per share, down Rs 27 from the closing price of the previous session

Oberoi Realty to build luxury villas, hotel in coast town Alibaug

Company tells stock exchanges it has acquired 81 acres from landowners for the project

Co-living startup Truliv debuts in Bengaluru with nearly 1,000 beds

Adopting a cluster-based growth approach, Truliv plans to expand its operations by adding 1,500 more beds over the next 18 months, bringing its total to 2,500 beds

S Korean hotel fire kills 7, matters made worse by lack of sprinklers

A fire that killed seven people in a South Korean hotel was possibly made worse by the lack of sprinklers, fire officials said Friday, as they investigated the cause of the blaze. At least 12 people were being treated for injuries related to the fire that broke out Thursday evening at the nine-story property in the city of Bucheon, just west of the capital, Seoul. Officials say the fire didn't spread broadly after starting in an unoccupied room on the 8th floor. But with the room was unprotected by sprinklers and toxic smoke quickly filled the upper floors. Most of the victims were found in the rooms and hallways of the eighth and ninth floors. Lee Sang-don, an official with the Bucheon Fire Station, said the hotel, which was built in 2003, wasn't mandated to have a sprinkler system. While South Korea began requiring sprinklers on all buildings with more than six floors starting in 2017, the requirement wasn't retroactively applied to most older buildings, except for some medical ..

Bring tourism policy before investment summit: Hoteliers to Raj govt

The state is holding the 'Rising Rajasthan' summit between December 9 and 11

Travel surge expected during I-Day long weekend: Industry experts

A significant increase in travel is expected during the Independence Day long weekend beginning Thursday, according to industry experts. According to hotel booking platform Booking.com, the top 10 most searched domestic getaways during the long weekends in August are Udaipur, Lonavala, Jaipur, Ooty, Kodaikanal, Munnar, Goa, Mahabaleshwar, Varanasi and Puri. Moreover, the top five most searched metros in India during the long weekends in August are Bengaluru, Mumbai, Delhi, Chennai and Hyderabad. The booking platform looked at search sessions between 28 July-31-July, with check-in dates between 15 August-19 August and 24 August-26 August. "The surge in searches for both domestic and short-haul destinations during August's long weekends reflects this trend. While popular tourist hotspots remain attractive, we are also seeing rising interest in some destinations such as Hampi, Madikeri, Ujjain and Gokarna," Santosh Kumar, Country Manager for India, Sri Lanka, Maldives and Indonesia at

Hotel bookings in 'suite' spot for Independence Day long weekend

Goa has witnessed a 166 per cent spike in bookings

L&T Realty, Valor Estate to co-develop Rs 20k cr project in Mumbai's BKC

The project will feature a mix of premium housing, commercial spaces, and a five-star luxury hotel. It has a total development potential of over 7.5 million square feet

Hotel bookings, airfares on strong wicket as IPL fever catches on

According to Thomas Cook India, online searches for travel during the IPL months are up 25 per cent when compared to last year