Page 3 - Indian Hotels

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

Indian Hotels, Escorts: Ruchit Jain of Motilal Oswal picks stocks to buy

Stocks to Buy Today: Indian Hotels share price has turned up after breaking out from an bullish harami candlestick pattern on the daily chart

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 .

Hotel stocks hit record highs, driven by strong growth expectations

>> A 5x returns upgrade: Hotel stocks trump Nifty 50 >> Luxury margins boost: 100-150-bp hike likely

Customers likely to gain as high-end hotels get GST options on dining

The GST Council decided to suitably amend the CGST Act to link GST on restaurant services with actual room tariff provided by the hotel

Foreign arrivals in India likely to cross pre-Covid levels next year

As the Indian hospitality industry prepares to uncork the champagne to welcome 2025, it is gearing up to roll out the red carpet to foreign tourists, whose arrivals are likely to cross pre-Covid levels next year while looking to continue its significant contribution to the country's economy and make 'India inevitable'. The sector, which is poised to contribute USD 1 trillion to India's economy by 2047, however, is looking up to the government for policy interventions, such as unified licensing, workforce upskilling, and targeted infrastructure investments to enable the vertical meet demand generated by India's drive towards becoming the world's third largest global economy. "India aims to become the third-largest economy by 2047, and the hospitality sector is set to play a pivotal role in achieving this goal. The sector's multiplier effect on the economy surpasses that of manufacturing and agriculture," Hotel Association of India (HAI) President KB Kachru told PTI. Asserting that th

Sarovar Hotels bets big on highway properties; 80 projects in pipeline

Hospitality firm Sarovar Hotels is broadening focus towards highway hotels and resorts close to major cities, capitalising on the country's rapidly expanding roads network, a top official said. The hotel chain has 80 projects in the pipeline over the next few years as part of its expansion plan, he said. "Highway hotels and resort-concept properties close to cities, within three-four hour journey, are a new high-growth segment for hospitality, at a time when competition is getting intense in urban centres," Sarovar Hotels Chairman Ajay K Bakaya told PTI in an interview. He said this strategic shift aligns with the ongoing road infrastructure development in the country. Enhanced connectivity is opening up opportunities for leisure and business travel, creating demand for accessible and convenient accommodation options, he said. "We haven't seen such development of highways in the past. Around 10,000 km of national highways are being constructed annually, which is remarkable. It is

Delhi HC reserves verdict on plea against ban on eateries' service charge

The Delhi High Court on Friday reserved its verdict on the petitions by restaurant bodies challenging the guidelines prohibiting hotels and restaurants from automatically levying service charge on food bills. "Arguments heard. Judgement reserved," said Justice Prathiba M Singh. Federation of Hotels and Restaurant Associations of India (FHRAI) and National Restaurant Association of India (NRAI) moved court in 2022 by filing two separate petitions. The guidelines, issued by Central Consumer Protection Authority (CCPA) on July 4, 2022, were stayed by the high court later that month. The counsel for FHRAI, in his rejoinder submissions on Friday, asserted the CCPA had no power or jurisdiction to impose such a ban, without following the principles of natural justice. "Merely holding a meeting with the industry body is not in compliance of natural justice," he said, "the guideline could only be advisory in nature". He said the service charge was levied on customers for the benefit of th

Indian mid-segment hotels enjoy competitive edge against int'l peers

Flexible contracts with suppliers and access to cost-effective cloud solutions are giving home-grown mid-segment hotel brands a competitive edge against international counterparts in India, according to a whitepaper by cloud-based hospitality technology solutions provider Hotelogix. According to the whitepaper, home-grown mid-market brands with small inventory can experience rapid growth in tier II, III, and IV cities, as it is exceedingly challenging for international brands to establish operational capabilities in those areas where 80-85 per cent of demand is domestic. India's home-grown mid-segment hotel brands control about 60 per cent of the total branded rooms available in the country, it mentioned. These domestic mid-market brands have also begun exploring management contracts and franchise models as a growth strategy, providing a significant competitive advantage over international chains, it said. Being Indian brands, they understand local people, culture, and tradition ..

Premium valuations likely to cap upsides for Indian Hotels' stock

The company expects revenue per available room (RevPAR) growth to remain strong, with like-for-like RevPAR to grow in high single digits

Indian Hotels, Federal Bank, Coforge from BSE Midcap index hit record highs

Shares of Coforge hit a new high of Rs 8,236.95, gaining 3%, and zooming 71% in six months, on a strong growth outlook.

Better demand trends upgrade Indian Hotels Company to profit suite

Management credits demand-supply gap, shifting demographics for hitting the 'suite spot'

Taj Hotels' parent co IHC to add 120 properties to tap travel, wedding boom

Indian Hotels will open the 1952-built Hessischer Hof in Frankfurt in the next 10 months marking its first foray into continent Europe

IHCL Q2 results: Net profit zooms more than 3-fold to Rs 582.71 cr

Indian Hotels Company Ltd on Thursday reported a more than three-fold rise in its consolidated net profit to Rs 582.71 crore for the second quarter of 2024-25, helped by exceptional gains from the consolidation of its air and institutional catering business segment TajSATS. The country's largest hospitality firm had registered a net profit of Rs 178.97 crore in the year-ago period, according to a regulatory filing. Its revenue from operations increased to Rs 1,826.12 crore in the June-September quarter from Rs 1,433.20 crore in the corresponding quarter of the last financial year. However, during the period under review, IHCL's expenses also rose to Rs 1,502.01 crore, as against Rs 1,248.68 crore a year ago. Puneet Chhatwal, Managing Director & CEO, IHCL, said, "The second quarter witnessed a strong revival of demand resulting in overall revenue growth of 28 per cent and 16 per cent growth for the hotel segment, marking the best ever Q2 Consolidated EBITDA margin at 29.9 per ...

IHCL acquires 55% stake in Rajscape Hotels to enhance experiential leisure

Rajscape Hotels manages 16 boutique properties under the brand 'Tree of Life Resorts & Hotels' across India

This recently listed stock enters top-100 mcap club; jumps 127% in 6 days

At 02:16 pm, with a market cap of Rs 95,886 crore, Waaree was trading 12% higher at Rs 3,337.70, and stood at number 100th position beating Indian Hotels.

Cuban cigars to AirTags: Luxe hotels curate Diwali hampers beyond the box

Locally sourced goodies, sustainable packaging becomes the draw this festival season

Hyatt Hotels plans to reach 100 properties in India within 5-6 years

Global hospitality major Hyatt Hotels Corporation is confident of nearly doubling its properties in India to 100 hotels over the next five to six years to tap opportunities in one of its top global growth markets, according to a senior company official. The company is also actively exploring opportunities to introduce additional global brands from Hyatt's portfolio to India, Hyatt Hotels Corporation Managing Director, India & Southwest Asia, Sunjae Sharma told PTI in an emailed interview. "We are enthusiastic about our expansion plans in India. With our strong pipeline and strategic growth initiatives, we are confident that we will achieve the milestone of 100 hotels within the next 5-6 years," he said. Sharma said, "This ambitious target is driven by the flourishing travel and hospitality industry in India, the growing demand for high-quality hospitality, and the strong connection our brand has with discerning travellers." He was responding to a query on how many properties and ..

Oyo likely to raise $200 million at 2x valuation of $4.5-5 billion

OYO to refinance its $450 mn of outstanding debt

SAMHI Hotels to acquire Innmar Tourism for enterprise value of Rs 205 cr

Innmar Tourism and Hotels, incorporated in October 2003, had a turnover of Rs 24.76 crore in FY24