28 Oct 2024

Hyatt Hotels has launched 'The Grand Showroom' in Mumbai, a luxury venue designed for corporate parties, lavish weddings, and high-profile events. This new space, part of the Grand Hyatt Mumbai, responds to the growing demand for opulent event spaces, which saw a 25% increase in social events from 2022 to 2023. Managed by Juniper Hotels, the venue is expected to generate INR 45-50 crore in its first year of operations in 2025, highlighting the shift towards personalized and upscale gatherings in the city's hospitality landscape.Read more

24 Oct 2024

Nexus Select Trust, a REIT backed by rent-yielding retail assets, is set to acquire Bengaluru's Vega City Mall for INR 877 crore. The acquisition includes the 0.45 million sq ft mall and the land, currently owned by A S Muniswamy Raju HUF, leased to Blue Horizon Hotels. The deal, executed through Vijaya Productions Pvt Ltd, awaits transaction documents and closing conditions. Nexus Select Trust, which manages 17 shopping malls across 14 cities with a gross leasable area of 9.9 million sq ft, aims to strengthen its presence in Bengaluru and capitalize on operational synergies. This move highlights the trust's commitment to growth in India's retail sector.Read more

23 Oct 2024

Thailand's Dusit Hotels and Resorts is returning to India with the opening of dusitD2 Fagu, a luxury retreat near Shimla, scheduled for December 2024. The resort will include 80 rooms that integrate modern amenities with local traditional features, catering to tourists seeking rest, wellness, or adventure. DusitD2 Fagu, located near Shimla Airport and accessible from major Indian towns, is the brand's first hotel in India. The company intends to expand further, with four other properties slated to open in Karnataka by 2026. This move underlines Dusit's plan to capitalize on India's growing demand for luxury hospitality experiences.Read more

22 Oct 2024

Temasek Holdings has facilitated Manipal Health Enterprises in acquiring a five-storey hospital in Mumbai's Andheri for INR 115 crore. The property spans 2.6 acres and features approximately 225,000 square feet of built-up area. This acquisition is part of a broader strategy to enhance Manipal's market presence, following its stake increases in Medica Synergie and AMRI Hospitals.Read more

21 Oct 2024

Elan Miracle Mall in Gurugram's Sector 84 is undergoing a festive transformation, becoming a one-stop destination for holiday shopping. The mall now features an array of renowned brands in fashion, beauty, home decor, and dining. With stores like Zudio, HomeStop, SUGAR Cosmetics, and Haldiram's, it caters to diverse consumer needs. The mall's unique design, with a three-sided open layout, ensures accessibility and a pleasant shopping environment. It also offers entertainment and the newly opened Ramada Encore Hotel. Upcoming brand launches and festive events are planned to enhance the visitor experience. Elan Miracle Mall aims to be more than a shopping center, offering a comprehensive lifestyle destination for the festive season.Read more

18 Oct 2024

Bata marked its 130th anniversary with the opening of a new, eco-conscious headquarters in Gurugram, emphasising innovation and sustainability. Designed with "Blue-Sky Thinking," the space fosters creativity, collaboration, and flexibility through modern features like hot seating, smart technology, and sustainable systems such as solar power and water recycling. The office has earned Platinum LEED and GRIHA certifications. CEO Gunjan Shah highlighted Bata's commitment to innovation, employee well-being, and environmental responsibility. The new headquarters reflects Bata's dedication to blending tradition with modernity, preparing the company for a sustainable, forward-thinking future.Read more

17 Oct 2024

This year's wedding season is proving exceptional for the hospitality industry, with luxury hotels across India witnessing high demand and full bookings. International chains like Shangri-La, Radisson, Hyatt, and Hilton are launching specialized wedding services to cater to the growing trend of destination weddings. Major properties, including Noormahal Palace and Wyndham locations, are fully booked for auspicious dates in November and December. Hotels are introducing tailored packages, resulting in increased rates and high occupancy. With more than 4.8 million weddings expected across the country, the industry is set to see significant growth this season.Read more

16 Oct 2024

Tellado Realty, renowned for its luxury developments in Goa, has transferred its hospitality division to villa rental brand StayVista. This partnership enables StayVista to manage fully serviced stays at Tellado's upscale properties in Assagao, Siolim, Mandrem, and Aldona. The move reflects StayVista's strategy to strengthen its B2B vertical, offering services like facility management and design consultancy to developers nationwide. Tellado's founder, Rahul Agarwal, highlighted that the decision enables the company to focus on developing top-tier luxury villas while StayVista handles operations. Both brands aim to enhance Goa's luxury real estate market through this collaboration.Read more

15 Oct 2024

SAMHI Hotels has entered a share purchase agreement to acquire Innmar Tourism and Hotels (ITHPL) for approximately INR 2,050 million, fully funded through internal reserves. Following the acquisition, ITHPL will become a wholly-owned subsidiary of SAMHI. The deal includes a 142-room operational hotel in Whitefield, Bengaluru, with the potential to expand by adding 200-220 more rooms. SAMHI's chairman, Ashish Jakhanwala, emphasised that the acquisition aligns with the company's growth strategy, focused on key office and aviation markets. SAMHI currently owns six hotels with 9,181 rooms, further strengthening its presence in Bengaluru's hospitality market.Read more

14 Oct 2024

India's Tier II and III cities are witnessing rapid growth in retail real estate, with 25 million square feet of new developments projected over the next five years. Rising consumer demand, the availability of land, and a lack of quality retail spaces in these areas drive this expansion. Developers are creating large-scale malls, offering a diverse mix of national and international brands. Institutional investors are increasingly targeting these emerging markets, resulting in a surge of high-quality retail projects. This shift highlights the growing importance of smaller cities in India's evolving retail landscape.Read more