Page 6 - Indian Hotels

Hoteliers optimistic on current economic scenario, future prospects: Report

A significant number of Indian hoteliers have expressed optimism over the current economic scenario and future prospects, as occupancy rates have increased over the past six months, a report said on Wednesday. Business sentiment among Indian hoteliers continues to remain strong, with nearly half (49 per cent) reporting an increase in average room rates, and an even higher number (55 per cent) said there has been an increase in occupancy rates over the past six months, the report titled Indian Accommodation Barometer 2023 by Booking.Com said. The gradual return of international travellers, along with the opportunities presented by digitalisation and interest in sustainable travel, also add to this upbeat mood, it noted. The report is based on a survey conducted between July 17 and August 25 via telephonic interviews. Around 250 executives and managers from the Indian travel accommodation sector (hotels and holiday rental providers) participated in the survey. The report also found t

Zubin Saxena succeeds Navjit Ahluwalia as Hilton's senior VP, country head

Zubin Saxena will take charge in January 2024; he was previously working at the Radisson Hotel Group for over eight years

Oriental Hotels hits new high; up 27% in 1 week on hopes of strong earnings

Growth in the industry is largely expected from domestic demand which is expected to remain strong through FY24 even as international travel has shown green shoots of recovery.

Accor plans to open 30 new hotels in India in 3-5 years to tap potential

French hospitality major Accor plans to open 30 new properties in India in the next three to five years to tap the huge potential here, according to its Senior Vice President Operations, India and South Asia, Puneet Dhawan. The hotel chain, which has nine brands in India out of 40 from its global portfolio, will also consider introducing more brands in the country to cater to different segments of customers here. "Currently our pipeline is about 30 signed contracts...These are expected (to be operational) in the next three to five years," Dhawan told PTI when asked about the company's expansion plans in India. These properties will be developed by local partners and run by Accor under its existing nine brands in India, including Fairmont, Novotel, Mercure and Pullman, among others. The investments on these new properties will be done by the partners. Some of the cities where the new properties will come up include New Delhi, Chandigarh, Mohali, Bhubaneswar and Amritsar. The ...

As business booms for Indian hotels, you can't check in any time you like

Domestic tourism is booming, helping hospitality groups to beat pandemic downturn

Chocolate tree, local produce: How hotels went all out for G20 Summit

ITC Hotels was entrusted with the task of catering for the presidential and prime minister's banquets

Fully booked, hotels turn to curated menu and security for G20 meet

Five-star hotels across New Delhi are all booked out for the upcoming Leaders' Summit to be held from 9-10 September

Expect premium hotel occupancy in India to be at decadal-high of 72%: Icra

Premium hotel occupancy in India is estimated to be at a decadal-high of 70-72 per cent with average room rates expected around Rs 6,000 to Rs 6,200 in FY24, ratings agency ICRA said on Wednesday. Consistent improvement in consumer sentiments despite the inflationary environment, stable corporate performance, and domestic air passenger traffic inching above pre-Covid levels augur well for travel and hotel demand, ICRA said in a statement. The ratings agency said it "estimates pan-India premium hotel occupancy at around 70-72 per cent in FY2024, after recovering to 68-70 per cent in FY2023." Pan-India premium hotel average room rates (ARRs) are expected to be at Rs 6,000 to Rs 6,200 in FY2024, it added. "While the occupancy is expected to be at decadal highs, the RevPAR (Revenue per available room) is expected to remain at a 20-25 per cent discount to the FY2008 peak," ICRA said. ICRA Ltd Vice President and Sector Head Corporate Ratings, Vinutaa S said gateway cities like Delhi an

Conscient Infrastructure buys 6.6 acre land in Gurugram for around Rs 85 cr

Indian Hotels Company Ltd (IHCL) on Thursday announced the opening of its first hotel in Jammu under Vivanta brand. With this, IHCL now has a presence in Jammu, which is an important economic centre with a thriving tourism industry, company's Managing Director and Chief Executive Officer Puneet Chhatwal said in a statement. "This also extends our itinerary in the union territory with our existing hotels in Srinagar and Katra. We are delighted to launch the 90-key Vivanta Jammu, City Centre which will be an integral part of the city's landscape," he said. With the addition of this hotel, IHCL will have five hotels in Jammu and Kashmir, including one under development.

Himachal Pradesh to set up 3 high-end hotels along Kiratpur-Manali highway

The Himachal Pradesh Tourism Development Corporation (HPTDC) will open three high-end hotels along the Kiratpur-Manali highway to facilitate tourists, Chief Minister Sukhvinder Sukhu said on Monday

Room rates, occupancy surpass pre-Covid levels for hotels, says report

Mahindra Holidays is aggressively expanding its inventory by acquiring properties and creating more resorts

BSE Midcap index hits 52-week high; Astral surges 9% on strong Q4 results

Despite global concerns, the domestic market structure remains positive on the back of healthy macro data, strong earnings, and recent FIIs buying, brokerage firm Motilal Oswal said in a note.

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.

Stocks to watch: Godrej Consumer, Axis Bank, Wipro, IRB Infra, IHCL, ACC

Stocks to watch today: From Godrej Consumer to Axis Bank, here are top stocks to watch in Friday's trade

IHCL, IndiGo, IRCTC: Analysts bet on travel stocks ahead of holiday season

Travel/tourism-related stocks: Analysts suggest investors keep a selective 'buy on dips' strategy on the space entailing hotels, airlines, travel agents, ticket booking players, and luggage makers

Royal Orchid Hotels, Kamat Hotels: Hotel stocks can rally up to 20%

Select hotel stocks may rise up to 20 per cent in coming sessions, as per the technical charts

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.

Indian Hotels well poised to achieve vision of 300 hotels by 2025

India's largest hospitality company Indian Hotels Company Ltd on Monday said it is well poised to achieve its vision of 300 hotels by 2025, from the current portfolio of 260 hotels. Indian Hotels Company Ltd (IHCL) said it accelerated portfolio expansion in FY 2022-23 which ended in March, with the signing of 36 new hotels and the opening of 16 new hotels, in the past year. The current pipeline stands at 73 hotels. "With its current portfolio of 260 hotels, IHCL remains well poised to achieve its vision of 300 hotels by 2025," the company stated. According to IHCL, with eight new hotel signings, the iconic brand Taj is slated to reach the 100-hotel milestone from 98 hotels currently. Puneet Chhatwal, Managing Director & Chief Executive Officer, IHCL, stated, "IHCL has witnessed a tremendous year of growth with unprecedented momentum of portfolio expansion. We signed a record 36 hotels in this financial year taking our portfolio to 260 properties. "With this growth our managed ...

Mahindra Resorts to invest Rs 1,800 cr, to add 2,100 rooms in 5-6 years

Mahindra Holidays & Resorts, the only listed entity in the membership-driven holiday segment, will add 2,100 more rooms in the next five to six years with an investment of around Rs 1,800 crore, according to a top company official. The company, better known as Club Mahindra, runs 119 properties, of which 74 are in the home market, 33 in Finland, Sweden and Spain being run under the banner of Holiday Club which it bought some years back. It also has 12 properties in the Middle East and South Asian markets. At present, the company has 4,900 keys inventory. The company has a customer base -- all club members and most of them having 25-year memberships -- of 2.8 lakh as of December 2022. The membership fee is the biggest revenue stream for the company, which is a debt-free entity of the Mahindra group and had a cash pile of Rs 1,090 crore at the end of December. "We'll be closing FY23 with 4,900 rooms across 119 properties, 60 per cent of them are owned properties and the rest ...

Significant room for upside in Indian Hotels stock, say analysts

Analysts estimate annual growth of 15% in revenue and 20% in Ebitda during FY23 to FY25, and have target prices ranging Rs 375-380