Page 4 - Hotel Industry

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,

Eco Hotels expands into Bengaluru, to unveil 2 new hotels by early Feb

Eco Hotels and Resorts Ltd on Thursday said it has expanded into the Bengaluru market by opening a 60-room property and looks to make operational two new hotels in Kota and Nagpur by early next month. The mid-segment hotel chain in a statement said that it has achieved a major milestone and will be entering Bengaluru, the Silicon Valley city of India, with a 60-room property under the 'EcoExpress' brand. Eco Hotels is also gearing up to open two properties at Nagpur with 44 rooms and Kota with 63 rooms by the month-end or early February 2025, it said. The sustainable hospitality services provider said Baroda and Aurangabad hotels are undergoing interiors and will become operational soon. Through our expansion into fast-growing markets like Mysore, Nagpur, and Shirdi, we are strengthening our footprint as well as catering to the travel requirements of environmentally conscious hospitality, Vinod K Tripathi, Executive Chairman of Eco Hotels and Resorts said. The new openings align .

Compromised values: Oyo's decision to discriminate opens Pandora's box

How businesses deal with such issues, which will increasingly be on their radar, will determine their longevity and popular image

Branded hotels to log 13-14% growth in FY25 on demand surge: CRISIL report

Branded hotels in the country are likely to see double-digit revenue growth of 13-14 per cent in 2024-25, and 11-12 per cent in the next financial year on demand surge, a report said on Thursday. While domestic leisure and business travel will continue to be the primary demand drivers, growing traction in the MICE (meetings, incentives, conventions and exhibitions) segment and pickup in foreign tourist arrivals will provide additional fillip, Crisil Ratings said in a report. The branded hotels segment registered a strong 17 per cent growth last fiscal, it added. To meet the increasing demand, the pace of room additions, which has increased since last fiscal, is expected to pick up further and majorly through the asset-light management contract route, it said. As a result, supply will increase by 20 per cent over this fiscal and the next, it added. Operating margin is expected to improve by 100-150 basis points (bps) this fiscal and sustain at similar levels in the next, it ...

Hotel room rates set to rise in 2025, driven by strong demand growth

Hotels are going fully booked at the end of the year, despite foreign tourist arrival numbers still remaining below pre-Covid levels

Hotel rates hit all-time high in 2024, driven by domestic tourism, weddings

In all, India's metro cities remain the strongest hotel markets, and the strong rate growth experienced last year was largely driven by these markets

Investment summit, events keep hotel industry happily busy in Rajasthan

There are more than 2,500 big and small hotels in Jaipur

'Imperial' trademark dispute: HC says yes to settlement among Akoi family

Hardev had alleged that Jasdev had unilaterally made changes to the trademark and moved the court to prevent its unauthorised use

Kolkata-based Jain Group to invest Rs 500 cr in hospitality sector by 2030

The group aided Sarovar brand's re-entry into Kolkata after a gap of 5 years. Sarovar Portico Kolkata at Rajarhat was launched on Wednesday, a 128-key mid-market hotel

Hotel asset management companies make room for international brands

An analyst said that in the last two-three years, there have been a lot of other hotel companies that are desperate to enter the Indian market with a branding sign

Oyo's premiuim hotel brand 'SUNDAY' launches first international hotel

In a bid to expand its premium property portfolio overseas, SUNDAY, a luxury hotel brand owned by OYO's parent firm and SoftBank Group, has opened its first properties abroad in the UK and UAE, OYO announced on Wednesday. The initiative is a part of OYO's ongoing efforts to strengthen its premium property portfolio across the globe, the company stated. SUNDAY Lansbury Heritage near London's iconic business district Canary Wharf will now be operated by Oravel. The 35-room property is a restored Grade II listed building with its history dating back to 1628 when the East India Company built its first chapel and almshouses on the site. SUNDAY in Dubai has been launched with the opening of SUNDAY Holiday International Hotel. The premium brand of properties was originally launched in May 2023 in India by the joint venture between the Softbank and Oravel Stays. At present, there are three SUNDAY properties in India with a plan to increase to 25 by the end of March 2025. "Our data indic

Radisson to further expand presence in Tier-II, -III cities: Nikhil Sharma

We will close this year with 130 operating hotels and add almost 20 operating hotels next year, said Nikhil Sharma, MD, South Asia, Radisson Hotels group

IHCL plans to double its consolidated revenue, portfolio of hotels by 2030

Ankur Dalwani, executive vice president and chief financial officer, IHCL, stated that the company will continue to remain net cash positive

Marriott International, Samhi Hotels ink pact to open 3 properties in India

Marriott International and SAMHI Hotels on Wednesday announced that they have signed a pact to develop three new properties comprising more than 568 rooms across India. The projects with SAMHI Hotels, one of India's leading hotel ownership and asset management companies, comprising the W Hyderabad Hitec City, Bengaluru Whitefield, A Tribute Portfolio Hotel and The Westin Bengaluru Whitefield, Marriott International said in a statement. These properties are expected to open during 2026-2028, elevating the two companies' joint efforts to expand their footprint in the country. "With 153 operating properties in India, we are focused on strengthening our presence in the country and are optimistic that this will position us well to meet the strong demand for both leisure and business travel," Rajeev Menon, Marriott International President, Asia Pacific excluding China, said. SAMHI Hotels Chairman, Managing Director and Chief Executive Officer Ashish Jakhanwala said, "We are collaborating