Hotel Sector

Hotel stocks slide, IHCL, Lemon Tree, ITC Hotels down up to 6%; here's why

Analysts believe tourist arrival in Kashmir will take a halt for some time and domestic travelers will switch to other domestic tourist destinations in the near term.

Pacific Group to build 1.5 mn sq ft mall, hotel in Jaipur by 2027

Real estate company Pacific Group will develop a 15 lakh square shopping mall and a hotel in Jaipur to expand business amid rising demand for premium retail spaces, a top company official said. Pacific Group has nine shopping malls, comprising more than 30 lakh sq ft of retail spaces, in Delhi, Ghaziabad, Faridabad, and Dehradun. In an interview with PTI, Pacific Group Managing Director Abhishek Bansal said, "We have a portfolio of nine shopping malls and now we are expanding in Jaipur, Rajasthan." He said the company has acquired 11 acre land in Jaipur to develop a shopping mall with total area of about 15 lakh sq ft. Pacific Group will also build a hotel comprising 130 rooms, he said, adding that the hotel will be managed by some hospitality chain. Bansal said there is a huge demand for superior shopping malls and hotels in tier-II and III cities. He said the mall in Jaipur is expected to be operational by 2026-end while the hotel will open in 2027. "We have started the proces

Hotel companies in India bank on loyalty programmes to attract customers

Earlier in March, the Indian Hotels Company (IHCL), under its loyalty program, Taj InnerCircle, reached 10 million members

Kamat Hotels, Taj Gvk Hotels hit 52-week highs; surge up to 36% in 1 month

The hotel industry is poised to continue its strong recovery in Q4FY25, fueled by healthy traction in MICE activities, cultural events, and a strong wedding season, believe analysts at Motilal Oswal.

IHCL signs first branded residences under Wellington Mews brand in UAE

The new properties are expected to be launched soon after Ramadan for an undisclosed amount, according to a company release

ITC Hotels trades weak in firm market; stock down 15% from listing day high

Buoyed by the government's policy interventions for the hospitality sector and a flourishing domestic tourism industry, ITC Hotels has strong growth enablers in place.

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

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 .

ITC demerger: 7 hotel stocks with up to 15% upside potential as per charts

Even as hotel shares fell up to 5% on Monday; technical charts hint up to 15% upside potential for Mahindra Holidays, TAJ GVK, Apollo Sindoori, ITDC, EIH, Oriental Hotels and Advani Hotels.

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 ...

NCLAT sets aside EIH plea against NCLT order for Golden Jubilee Hotels sale

The National Company Law Appellate Tribunal (NCLAT) has set aside hospitality major EIH Ltd's petition against an NCLT order approving the sale of Hyderabad-based Golden Jubilee Hotels. The appellate tribunal upheld the earlier decision of the National Company Law Tribunal (NCLT), allowing the bid of a Singapore-based entity and said the business decision by the majority of the CoC (Committee of Creditors) "cannot be questioned or looked into". "This recent judgment leaves no doubt about reinforced faith in commercial wisdom of CoC and little scope of any judicial intervention," said a two-member bench of the NCLAT. Earlier, the Hyderabad Bench of NCLT had approved the bids of Singapore-based BREP Asia II Indian Holding Co II (NQ) PTE on February 7, 2020, which was challenged before NCLAT by EIH, a flagship company of The Oberoi Group. EIH, which was managing Golden Jubilee Hotels and has 16 per cent shareholding, contended that it could not be treated as a promoter and become ...

HAI mulls incentives for hotel operators to adopt sustainable practices

Hotel Association of India is considering asking government to provide incentives to small hotel operators for adopting sustainability practices, according to its Secretary General MP Bezbaruah. While big luxury and five star operators are leading from the front on adopting sustainability practices, the smaller members of Hotel Association of India (HAI) are lagging behind due to cost issues of taking up the initiatives, he told PTI. "We have the big five star and luxury hotels with records which are exemplary and have been leading the world but we want it to flow down the line to get the smaller members (join the sustainability drive)," Bezbaruah said. HAI has tried to encourage its members and non-members into globally accepted certification programmes of sustainability, he said, however adding,"Some of these practices can be costly and may not be cost effective for many smaller hotels." When asked if HAI is looking for government support for the hospitality industry to adopt ...

Brigade Hotel Ventures files draft papers with Sebi for Rs 900 crore IPO

Brigade Hotel Ventures Ltd, owner and developer of hotels in South India, has filed draft papers with capital markets regulator Sebi to raise Rs 900 crore through an initial public offering (IPO). The proposed IPO is entirely a fresh issue of equity shares with no Offer-for-Sale (OFS) component, according to the draft red herring prospectus (DRHP). Proceeds from the issue to the tune of Rs 481 crore will go towards payment of debt, Rs 412 crore will be allocated to the company and Rs 69 crore to its material subsidiary, SRP Prosperita Hotel Ventures Ltd. Additionally, Rs 107.52 crore will be used to purchase an undivided share of land from the Promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes. The company may raise up to Rs 180 crore through a Pre-IPO Placement. If the placement is undertaken, the issue size will be reduced. Brigade Hotel Ventures Ltd is a wholly-owned subsidiary of Brigade Enterprises Lt

Indian hostel chains aim for global expansion amid rise of digital nomadism

The Hosteller recently raised $4 million in its Series A funding to expand its base of hostels, marketing, and other general purposes

Eco Hotels looks to become profitable by end of FY26; acquires 3 properties

Eco Hotels and Resorts Ltd looks to become profitable by the end of next fiscal and has acquired three properties with around 178 keys, according to a statement. The hospitality company which aims to develop eco-friendly properties with zero carbon footprint is also on course to hit 400-room capacity by month-end, the statement said. Eco Hotels & Resorts CFO Vikram Doshi said, We are committed to turn the company into profit by end of March 2026. We want to turn this company soon into one of the leading hotel companies of India. In its very first year of operation in India, Eco Hotels is setting new standards in sustainable hospitality, the official said. Eco Hotels has also announced the acquisition of three properties. These include a 90-room property in Mysore (Karnataka) a 44-room hotel at Tirupati (Andhra Pradesh), and another 44-room asset in Nagpur (Maharashtra). The company board recently approved the acquisition of these properties on a long-term lease basis. Moreover, .

This Tata Group stock quotes at an all-time high; market cap nears 1 trn

Shares of Indian Hotels Company hit a new high of Rs 693.35, gaining 4 per cent on the BSE in Tuesday's intra-day trade amid heavy volumes on expectations of strong revenue growth.

Royal Orchid Hotels expects about 80% occupancy in Q3, Q4: Arjun Baljee

After enduring a low first quarter, Royal Orchid Hotels expects occupancy level to bounce back and reach around 80 per cent in the third and fourth quarters, according to company President Arjun Baljee. Various factors, including low business travels, heatwave and competition from international destinations like Thailand impacted occupancies in the first quarter. In the first quarter, the company, which operates 107 properties, had an overall occupancy level of 70 per cent. "We are very optimistic. We have seen in Q2 a nice little bounce back, and Q3 and Q4 the business on books actually looks really good," Baljee told PTI. Asked about the occupancy levels, he said,"This quarter will be in the mid to high 70s. Then we're looking at the early 80s, and let's say the mid-80s is where I think, Q3 and Q4 should end up." Reflecting on the Q1 performance, he said historically from an India perspective for 'business-centric' hotels, "Q1 is always the worst" due to a variety of reasons, ...

10,000 US hotel workers strike as contract talks with operators break down

The strike is taking place with the industry facing a 9% increase in Labor Day weekend domestic travel compared to last year, according to AAA booking data

InterGlobe opens boutique lifestyle hotel Miiro in Paris, Barcelona

InterGlobe Enterprises, the biggest shareholder of IndiGo airline, has opened its boutique lifestyle hotel Miiro in Paris and Barcelona and is looking to add more properties in Europe over the next couple of years, a top official said. Neena Gupta, CEO of Miiro, said Le Grand Hotel Carye in Paris opened in July and Borneta in Barcelona this month. The entry-level luxury lifestyle hotel brand will continue back-to-back launches into 2025 with London and Vienna. Templeton Garden in London, located in the leafy area of Earl's Court, will offer 156 rooms, complemented by a cafe-deli, a neighbourhood restaurant, a vibrant bar, and an outdoor F&B experience in an expansive garden oasis in the Spring of 2025, she said. The two hotels in Vienna, with their strategic location boasting over 200 rooms, will be the next destination for Miiro. With further openings planned for 2026, Miiro is poised to expand its footprint significantly. InterGlobe, which is the biggest shareholder in ...

OYO withdraws DRHP, to refile its much-awaited IPO post refinancing

Softbank-backed OYO is set to refile its much-awaited IPO as the global travel tech player is close to finalising its refinancing plans to raise up to USD 450 million via sale of dollar bonds, sources said. JP Morgan is the likely lead banker for the refinancing through the sale of dollar bonds at an estimated interest rate of 9 to 10 per cent per annum, a source said. In preparation for the refinancing, OYO has already moved its application with markets regulator SEBI to withdraw its current draft red herring prospectus (DRHP). The company intends to refile an updated version of the DRHP, after the bond issuance. Oravel Stays Ltd, OYO's parent company, had in November prepaid a significant chunk of its debt amounting to Rs 1,620 crore through a buyback process. The buyback involved repurchasing 30 per cent of its outstanding Term Loan B of USD 660 million. The move brought down its outstanding loan amount to around USD 450 million. A source closely involved in the company's IPO .