Page 10 - Hotel Industry

Hotels roll out red carpet as big fat Indian weddings make a comeback

2.5 million marriages may get solemnised during the wedding season starting next week; tariff at hotels up by a record 25-30% over 2019-20 levels

Hotel stocks order room service: See strong Q1, a stronger outlook

Inbound tourism, higher occupancies, and lean cost model are positives for listed hospitality majors

With new hotel brands, ITC checks in with 'house of brands' model

ITC has launched two brands - Storii, in the boutique premium segment, offering immersive experiences, and Mementos, a collection of unique luxury properties across destinations

Lemon Tree Hotels zooms over 100% in one year, stock nears record high

The increasing traction in corporate travel will benefit us to a great extent as more than 85 per cent of the company's inventory is in business hotels, the company said in its annual report.

Hotels nearly full as Bengal braces for 'revenge travel' during Durga Puja

Over 70 per cent of hotel rooms in the tourist destinations of northern West Bengal are booked for the Durga Puja vacation, an official said on Saturday. The economy of the region, which boasts of some picturesque Himalayan destinations such as Darjeeling and Kalimpong, and forests of the Dooars, was battered by the pandemic as tourists stayed home amid the lockdowns. As coronavirus cases subside, businesses are hopeful of an effervescent festive season with tickets of trains to New Jalpaiguri -- the gateway to the region, sold out and hotel rooms fast getting filled up. Federation of Bengal Hotels assistant secretary Ujjwal Ghosh said the region saw a good footfall during the summer holidays this years, and the hoteliers expect even a better festive season. "Over 70 per cent of hotel rooms have already been booked in the Hills and in Dooars, and we expect the rest to be filled up soon," he said. The homestays are also witnessing a huge demand with most expected to be fully booked

Mid-sized hotels on aggressive expansion drive as occupancy, rates zoom

Mid-sized hotels have an advantage of better penetration in the tier-2 and tier-3 markets

Salaries of top managers rise as occupancy in hospitality sector improves

The remuneration of directors of hotel companies, like IHCL and EIH Ltd, has seen a rise between 8 and 250 per cent in FY22 year-on-year (YoY)

Hotel liable to pay for death caused by fire

A fire broke out on the night between August 3 and 4, 2012, at Hotel Lucky India

ITC shares hit 52-week high in intra-day; rally over 37% so far this year

ITC shares hit its one-year peak on Thursday amid talks about an organisational restructuring at the conglomerate, including demerger of hotels business and listing of its technology venture

Delhi HC stays CCPA norms, says paying service charge a matter of choice

No such charge on takeaway orders: Court

OYO offers special discount of up to 60% for NEET 2022 woman aspirants

OYO announced a discount scheme for women candidates appearing for NEET 2022, wherein those applicants travelling to their centres can avail up to 60 per cent discount on their stay in its hotels.

Hotel industry sees growth as daily room rates, occupancies over 2019 level

Mumbai hotels recorded an occupancy rate of 80 per cent in May 2022, which was followed Pune and Bengaluru, consulting firm HVS Anarock said

Hotels and restaurants can't levy service charge by default, says CCPA

The hotels have to clearly inform the consumer that paying the service charge is at the consumer's discretion, the CCPA said

NRAI says no illegality in levying service charge by restaurants

Ahead of its June 2 meeting with govt, the top hotel industry body said that the levy of service charge is a matter of individual policy to decide if it is to be charged or not.

Chalet Hotels consolidated net loss narrows to Rs 11.45 crore in Q4

The company had posted a consolidated net loss of Rs 5.98 crore in the same quarter of the preceding fiscal

Hotels ask govt to restore insurance premium rates to 2018-19 level

HAI claimed that the increased premium rates put all hotels at par and do not differentiate between the quality of risk undertaken

Hotel Association of India urges govt to bring down insurance premiums

The hotel association alleged that insurance companies are not allowed to quote different rates to hotel properties based on the risk category of the insured, thereby putting all the hotels at par

Domestic hotel industry to return to pre-Covid level this fiscal: Report

According to its report, the hotel industry is expected to clock 60 per cent of pre-COVID revenues in FY22, despite almost four months of impact because of COVID 2.0 and COVID 3.0

Hospitality sector rings in FY23 on positive note amid broad-based recovery

Business hotels, which saw a delayed recovery, are back stronger and sooner as big ticket conferences and meetings have resumed in a big way, said hotel industry executives

Hotel industry expects traction in occupancy, room rates in 2022: Study

The hotel industry in the country which bore the brunt during the COVID-19 pandemic is on the path of recovery with higher occupancy, increased average room rates (ARR) and spurt in merger and acquisition deals, a study said on Wednesday. Domestic leisure travel is the driving force behind the road to recovery coupled with an increase in business travel, and with most organisations gradually resuming to a full or hybrid work-from-office model, it said. In 2021, the occupancy was 42-45 per cent and the average room rate was Rs 4,300-4,600 which was higher than 2020 but less by 25-28 per cent compared to 2019 levels, it said. We expect India-wide occupancy to improve to 66 per cent in 2022, along with a 28 per cent increase in ARR during the year. We expect occupancy & average room rates to return to pre-pandemic levels by the end of CY22 (calendar year) and by mid-CY23, respectively, HVS ANAROCK president (South Asia) Mandeep Singh Lamba said in the report. The year 2022 started .