Page 4 - Hotel Sector

ITC demerger: Medium-term outlook intact; stk can hit Rs 550 to Rs 575 mark

While the medium-term outlook remains highly optimistic, the stock may remain choppy in the near-term

OYO to add over 1,000 hotels by Dec, to target 100 first gen hoteliers

Hospitality technology platform OYO on Wednesday said it will add over 1,000 hotels to support over 100 first-generation hoteliers by December 2023 as part of its accelerator programme. The company launched its accelerator programme in March this year with a target of supporting 50 first-generation hoteliers. OYO has already added more than 300 hotels operated by 30 hoteliers since the announcement of the plan which is higher than the initial target of adding 200 properties in the first phase of the programme, the company said in a statement. "Since the unveiling of our Accelerator Program, we have been actively engaging with our hotel partners to gather their insights, concerns, and suggestions," OYO Chief Merchant Officer Anuj Tejpal said. The company is also offering financial assistance to facilitate expansion in new markets. It has already extended support worth Rs 10 crore, it added. With the Indian hospitality sector showing signs of promising growth in the next few years,

Hotel chains smell business opportunity in small towns, off-beat locations

Hotel companies are working fast to take advantage of being the first mover at these locations

IHCL, Kamat: Hotel stocks at 52-week high; check out the trading strategies

Shares of Kamat Hotels India are on the course to double this year, while Royal Orchid Hotels and Oriental Hotels have both gained 30 per cent each.

Tier-II cities experience expansion of Hotels as leisure travel grows

The sector closed the year with occupancy in the range of 59-61 per cent, up 15-17 percentage points (pp) over the previous year and only 5-7 pp lower than the full year of 2019

Hotel stocks in demand: Lemon Tree, Oriental, Kamat Hotels surge up to 10%

Going forward, analysts expect FY24 to stay strong for the sector supported by full resumption of the economy, India's G20 presidency in 2023, ICC Men's world cup and easing of E-visa rules.

Hotel biz to rise 23% in FY22 over pre-Covid period: CRISIL Ratings

The Indian hotel industry is likely to witness 23 per cent growth in revenue this fiscal over the pre-pandemic level, driven by a strong recovery in business travel and continued traction in leisure travel, according to a report. Higher average room rates (ARRs) and occupancy will help the hotel industry log a strong improvement in profitability to around 34 per cent this fiscal compared to 24 per cent in the pre-pandemic period (fiscal 2020), Crisil Ratings said in a report. Revenue, on its part, will increase 23 per cent over the pre-pandemic level, riding on a strong recovery in business travel and continued traction in leisure travel, it added. "Leisure travel had gained traction post the Delta wave last fiscal, while business travel has started picking up steadily after a much milder Omicron wave in January 2022. This has been fuelling demand in the MICE (meetings, incentives, conventions and events) segment," Crisil Ratings Senior Director Mohit Makhija said. Crisil Ratings .

Luxury hotel rates in India lag other markets, says Accor's Mark Willis

India still needs to catch up with other markets in terms of the rates the hotels command. He also touches upon the expansion plans

OYO elevates two senior execs in service experience and revenue functions

The firm recently had also revamped its flagship patron-facing app, CO-OYO, allowing users to now run their own promotional offers ahead of the peak festive travel season this year

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

London flight, hotel fares surge ahead of Queen's funeral

Average rate for a hotel up to $384 from $244 per night; high-end hotels sold out for Sunday night; average prices for a return flight from US over $950

Flipkart launches Flipkart Hotels for domestic, international market

Flipkart Hotels will provide customers with the opportunity to book hotel rooms across 300,000 domestic and international hotels

Flipkart launches hotel-booking service, sees travel industry gaining

Flipkart Hotels will provide room bookings at 3 lakh domestic and international hotels. It will offer customers services like flexible travel and booking-related policies, and easy EMI options

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)

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

No such charge on takeaway orders: Court

IHCL's Ginger brand continues expansion, on track to scale up to 125 hotels

IHCL has traditional hotel brands like Taj, Vivanta, SeleQtions, and new-age ones like Ginger and Ama

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

IHCL signs a new SeleQtions Hotel deal in Udaipur city of Rajasthan

The IHCL, announced the signing of a new SeleQtions hotel in Udaipur, Rajasthan. The hotel is managed by Lalit Bagh Heritage Palace and Museum Private Limited.