Page 2 - Hotels

Brigade Hotel Q1 results: Net profit at ₹7 cr, income rises to ₹125.03 cr

Brigade Hotel Ventures Ltd has posted a consolidated net profit of Rs 7.16 crore in the first quarter of this fiscal. The company, which recently got listed on the stock exchanges after the successful Rs 760 crore IPO ( Initial Public Offering), had posted a net loss of Rs 5.78 crore in the year-ago period. Total income rose to Rs 125.03 crore in the April-June period of 2025-26 fiscal from Rs 102.20 crore in the corresponding period of the preceding year, according to a regulatory filing on Monday. Brigade Hotel Ventures Ltd, a subsidiary of realty firm Brigade Enterprise, has a portfolio of nine operating hotels across Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka) and the GIFT City (Gujarat) with 1,604 keys. Commenting on the results, Nirupa Shankar, Managing Director, Brigade Hotel Ventures, said, "Our Q1 performance reflects the strength of our diversified portfolio and our ability to navigate market challenges while capturing new ...

Hotels nearly sold out, airfares soar sharply for August 15 long weekend

Hotels report near-full bookings and airfares rise sharply ahead of the Independence Day long weekend, with strong demand across leisure and drive-in destinations

Brigade Hotel mobilises ₹325 crore from anchor investors ahead of IPO

Brigade Hotel Ventures Ltd, owner and developer of hotels in south India, on Wednesday raised Rs 325 crore from anchor investors, a day before its initial share-sale opening for public subscription. The anchor book saw participation from investors, including SBI Mutual Fund (MF), 360 One MF, Axis MF, Motilal Oswal MF, Bandhan MF, Edelweiss MF and Nuvama MF, according to a circular uploaded on the BSE's website. As per the circular, Brigade Hotel Ventures has allotted over 3.6 crore equity shares to 17 funds at Rs 90 apiece. This aggregates the capital raising to Rs 324.72 crore. The initial public offering (IPO) is scheduled to open on Thursday and conclude on July 28. The price band has been set at Rs 85 to Rs 90 per share. At the upper end of the price band, the company is valued at over Rs 3,400 crore. Brigade Hotel Ventures' IPO is entirely a fresh issue of equity shares worth Rs 759.6 crore with no offer-for sale (OFS) component. Proceeds from the issue to the tune of Rs 468

Oberoi Realty-led group to pay Rs 919 cr to acquire bankrupt hotel firm

The resolution plan was approved by the committee of creditors (CoC) on July 14 following which a letter of intent was issued in favour of the consortium

Delhi govt ends police permission for hotels, pools, entertainment trades

With the withdrawal of these regulations, Delhi Police will no longer be responsible for issuing No Objection Certificates (NOCs) or other licences for these commercial activities

Hyatt signs $2 bn deal with Tortuga to sell Playa's real estate assets

Hyatt had entered into a deal to buy Playa, which operates 24 high-end, all-inclusive resorts across Mexico, Jamaica and the Dominican Republic

80% domestic passengers expected to use Digi Yatra app by 2028: CEO

The app will support more Indian languages, enable driving licence onboarding, and run pilots for international and hotel check-ins over the next few months

Prestige Estates, Valor Group to develop ₹4,500 cr office complex in Mumbai

Realty firm Prestige Estates Projects Ltd has partnered with Valor Group to develop an office complex worth Rs 4,500 crore in Mumbai. In a regulatory filing on Thursday, Prestige Estates said that it has entered into a framework agreement with Valor Estate Ltd and its wholly owned subsidiaries for jointly developing a project on lands admeasuring in the aggregate 21,978.22 square metres at Andheri West, Mumbai. The project entails a total leasable area of 1.5 million sq ft and a Gross Development Value (GDV) of about Rs 4,500 crore. Both Prestige Estates and Valor will have a 50 per cent economic interest in the project. "The company and Valor Group shall jointly develop approximately 1.50 million sq. ft. leasable area commercial office complex on a 50:50 joint venture basis," Prestige Estates said. The company will infuse Rs 504 crore into the SPV (special purpose vehicle), which will be established to develop this project. Bengaluru-based Prestige Estates is one of the leading

Radisson Hotels Group expands presence in East India with 3 new signings

Hotel Deoghar in Jharkhand, Radisson RED Puri in Odisha, and Radisson Resort and Spa, Ranchi in Jharkhand are the new signings, with a combined key count of 400, the group said in a release

MakeMyTrip clocks record $9.8 bn FY25 bookings; Q4 profit at $29 mn

MakeMyTrip reports record gross bookings of $9.8 bn in FY25, led by domestic and international travel growth; Q4 profit down due to last year's one-time gains

Hilton to debut LXR in Bengaluru, double India portfolio in 5 years

Hilton to bring luxury LXR Hotels to India by 2026 and plans to open 29 hotels across key cities, driven by rising domestic tourism and infrastructure growth

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

Hyatt to expand India footprint with 6 hotels, 1 new brand in 2025

The hospitality chain will focus on its lifestyle brands like JdV and Andaz, and intends to bring its recently-acquired lifestyle brand Standard Hotels to the country

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

Restaurants can't compel customers to pay service charge, says Delhi HC

The HC decision came on a clutch of petitions moved by the Federation of Hotels and Restaurant Associations of India (FHRAI) and the National Restaurant Association of India (NRAI)

We aim to go beyond the traditional landmarks list: Airbnb Global CFO Mertz

India is an exciting market not just from a demographic point of view, but also because the government wants to make tourism a much bigger portion of the economy, says Mertz

Nespresso eyes store expansion in India, keen on B2B tie-ups with hotels

Nespresso makes coffee machines and coffee pods that are sold directly to consumers and businesses

Leading Indian-origin hotelier Joginder Sanger passes away in London

Joginder Sanger, a leading British Indian hotelier, has passed away in London, family sources said. He was 82. Sanger is said to have died surrounded by family on Friday night after being hospitalised due to a stroke. The Jalandhar-born entrepreneur began his journey in the UK with a travel agency and exclusive Air India contract before going on to set up a range of popular London hotels, including the Washington Mayfair Hotel, Courthouse Hotels in Soho and Shoreditch, and the luxury boutique hotel Bentley in Kensington. These hotels have been frequented by prominent Indian celebrities and politicians over the years, including former prime ministers, ministers and Bollywood stars. He was a dear friend of mine since the 1950s; I will miss him terribly, said NRI industrialist Lord Swraj Paul, 94. Like me, Joginder was also born in Jalandhar, and we shared so many experiences together. He will be missed by the Indian community in Britain, to which he has made immense contributions, he

Airfare, hotels skyrocket at Maha Kumbh: Here's how much devotees overpaid

From airfares to accommodation and even local transport, pilgrims at Mahakumbh have been forced to pay exorbitant prices.

If you travel for work, try living in a hotel instead of a home: Report

I stayed at different properties, but the Standards in New York, both the one in the East Village and the High Line ended up on heavy rotation for me