Page 4 - Hotel Industry

Luxury rush: Hospitality industry may add 100,000 keys in 5 years

Ascott aims to double rooms to 12,000 by 2028; Hilton Hotels plans to grow operations by 10x in the next 10 years

Hotel chain Hyatt bets on India's population boom to fuel revenue growth

Hyatt said it plans to open six hotels in India, home to roughly 1.4 billion people, this year including in smaller cities from northern Ghaziabad to southern Kochi

Sarovar Hotels invests ₹120 cr in a TN project, its highest investment ever

"This project (Sarovar Portico, Sriperumbudur) opens up in the next two months and is our largest investment till now," said Ajay Bakaya, chairman, Sarovar Hotels and director, Louvre Hotels India

French company Accor Hotels aims to have 300 hotels in India by 2030

Currently, Accor Hotels has 71 operating hotels in India, with 40 hotels in its pipeline.

India continues to be a priority market for Wyndham Hotels and Resorts

Currently, it has nine operational hotel brands in India, with Ramada being its leading brand in terms of demand

Luxury hotel chains serve up exclusive experiences, some only for members

From high-end villas with private sommeliers to exclusive showcases at cultural centres to private sessions with Michelin-starred chefs and celebrities, hotel chains are pulling out all the stops

International, domestic mid-scale hotel brands find room to expand

Rise in discretionary incomes from tax breaks may flow into travel

Oravel Stays plans global expansion with 100 new SUNDAY Hotels in FY26

Currently, there are 30 SUNDAY hotels, with Sunday Luxury Downtown Al Qudaybiyah in Manama, Bahrain being one of the recent additions to the brand's portfolio, it said

Ibis plans expansion in key metros, focusing on greenfield projects

On Thursday, it added a fifth hotel at the Bandra Kurla Complex (BKC), with 206 rooms, making Mumbai a major market in terms of revenue contribution

Townhouse, Sunday brands bring 50% of Oyo's business: Ritesh Agarwal

He added that the reason for adding premium offerings to the company's suite of services was to improve its bottom line and stay relevant in the market

Hilton's Signia debuts in Asia-Pacific market with Jaipur hotel in 2028

The 216-room hotel will be developed in partnership with Sandeep Bakshi and Family LLP and will be Hilton's third offering in Rajasthan after Hilton Jaipur and DoubleTree in Jaipur-Amer

Indian Hotels set to add another 'Taj' to Mumbai, to invest Rs 2,500 crore

The construction of the Taj Bandstand, which will house 330 rooms, 85 apartments, and convention spaces, is expected to commence in 2025

Chalet Hotels to acquire Westin Resort & Spa, Rishikesh for Rs 530 crore

The company will acquire a 100 per cent stake in Mahananda Spa and Resorts, a wholly owned subsidiary of Mankind Pharma Limited

OYO to invest Rs 539.57 crore in UK to expand premium hotel portfolio

Travel tech unicorn OYO on Tuesday said it plans to invest 50 million pounds (Rs 539.57 crore) in the UK over the next three years, primarily to focus on expanding its premium hotel portfolio. The investment is expected to support 1,000 jobs over the next three years in the UK hospitality sector, OYO said in a statement. In a significant strategic shift, OYO is actively pursuing premiumization of its UK portfolio, by pivoting towards premium inventory acquisition, focusing on securing long-term leasehold and management contracts. The company is also in advanced stage talks with several large hotel chains and real estate companies for potential asset management transactions. "OYO's investment in premium hotels will not only strengthen our tourism infrastructure, but back our ambitious 'Showcase Britain' initiative, helping to boost economic growth as part of our Plan for Change," said the UK Minister for Investment Baroness Poppy Gustafsson OBE in the statement. Puneet Yadav, Count

Exploring opportunities in branded residences: ITC Hotels MD Anil Chadha

In a recent conversation with Business Standard, Chadha said: "It is something we are exploring, but have not settled for any specific model yet"

Budget 2025: MakeMyTrip CEO seeks industry status for hospitality

Ahead of the Union Budget, MakeMyTrip co-founder and Group CEO Rajesh Magow on Monday said the hospitality sector's long-pending demand for an "industry status and continued focus on infrastructure development to ensure last-mile connectivity are crucial to realising its full potential. In an interview with PTI, Magow shared his wishlist for the Union Budget for 2025-26, to be presented on February 1. "The hope is that it should be growth-oriented budget, which effectively should set the tone for pretty much every sector, including travel and tourism sector for us as well. And within that, you know, the long pending demand of the hospitality sector, on getting the industry status continues to remain, and I think, and it's an important one, for the overall industry," Magow said. Asserting that the government has been doing a "great job" of allocating more funds towards infrastructure development, he said it is important to keep up with the pace of allocation as well as ...

Indian Hotels drops 4% on profit booking, rich valuations post strong Q3

Earlier in the day, the Indian Hotels share rose as much as 2.60 per cent to hit an intraday high of Rs 835 per share

IHCL takes Qmin to QSR space, aims to make it a Rs 200-crore brand

Hotels behemoth records 20% rise in PAT and revenue in Q3

Lemon Tree Hotels share price up 3% on signing new property in Gujarat

The rise in Lemon Tree Hotels share price came after the company announced that it has signed a new property in Valsad, Gujarat

J&K imposes strict austerity measures, bans meetings in private hotels

Announcing a series of austerity measures to reduce expenditure for the current financial year, Jammu and Kashmir government has imposed a complete ban on holding of meetings in private hotels and discouraged conducting exhibitions outside the Union Territory. The government also banned creation of new posts and called for surrender of all posts which have remained vacant for more than two years. It also decided to regulate travel expenditure to ensure that each department's spending remains within the allocated budget. In a three-page order, Principal Secretary (Finance Department) Santosh D Vaidya said sanction is accorded to the rationalization of expenditure for fiscal prudence and economy during the current financial year 2024-25 with immediate effect. During the last quarter of the current financial year, the revenue expenditure should be limited to 30 per cent of budget allocation and in the month of March, the expenditure should be limited to 15 per cent of such allocation,