23 Jul 2024

Travellers seeking luxury in Goa will soon have a new option. The Indian Hotels Company Limited (IHCL), known for its Taj Hotels, is partnering with Bharat Realty Venture to build a 170-key Taj property on 17 acres of beachfront land in Anjuna, North Goa. This will be IHCL's sixth Taj Hotel in Goa, offering spacious accommodations with breathtaking views of the Arabian Sea. The resort will feature diverse culinary options, a J Wellness Circle spa, and North Goa's largest dining area with outdoor grounds, ideal for social gatherings and weddings. This addition marks a significant milestone for Goa's vibrant hospitality scene.Read more

12 Jul 2024

Lords Hotels & Resorts is set to open Lords Eco Inn Purulia, West Bengal, in early 2025, marking a significant milestone in their expansion for 2024. This new property caters to the rising demand for sustainable travel, featuring eco-friendly practices and amenities such as a restaurant, rooftop lounge, and two banquet halls accommodating up to 200 guests each. Located 250 kilometres from Kolkata, the hotel will serve as a comfortable base for exploring Purulia's historical and natural attractions. This move aligns with Lords' goal to establish over 100 properties in India within the next three years.Read more

11 Jul 2024

Whiteland Corporation has partnered with Marriott International to develop "Westin Residences Gurugram," the first standalone Westin Residences in India. Situated on a 20-acre site along Dwarka Expressway in Sector 103, Gurugram, the project will offer approximately 674 luxury units in its first phase, launching in Q2 of the current financial year. The total investment for the project exceeds INR 5,000 crore, with an estimated sales value of over INR 15,000 crore. Homes will range from 235 to 386 sqm, with prices starting around INR 5 crore. This landmark project, managed by Marriott, aims to redefine luxury living in Gurugram.Read more

10 Jul 2024

Global investment firm KKR is acquiring a controlling stake in Baby Memorial Hospital (BMH), a Kerala-based multispecialty hospital chain. The deal, reportedly worth 2,500 crore for a 70% stake, aims to support BMH's expansion across India. Founded in 1987, BMH currently operates 1,000 beds in Calicut and Kannur, offering services across 40 medical specialties. KKR's investment, made through its Asian Fund IV, aligns with its healthcare sector focus in Asia Pacific. The partnership will leverage KKR's expertise to accelerate BMH's growth, improve healthcare accessibility, and potentially lead to both organic expansion and acquisitions. This move highlights the increasing interest of global investors in India's growing healthcare market.Read more

09 Jul 2024

India's hotel sector anticipates a varied performance in FY25, starting with a challenging June quarter due to factors like general elections and seasonal impacts. Preliminary data shows a slowdown in revenue per available room (RevPAR) and average room rate (ARR) growth compared to earlier periods. However, optimism prevails for the latter half, buoyed by strong growth foundations from previous years. Analysts foresee increased corporate travel, MICE segment growth, and resurgence in domestic and international tourism driving recovery. Major hotel chains like IHCL and Chalet Hotels plan substantial expansions, signaling confidence in long-term sectoral resilience amidst short-term market fluctuations.Read more

08 Jul 2024

Radisson Hotel Group has announced a significant expansion in India, signing agreements for 10 new hotels, bringing their total to over 180 properties in the country. This expansion includes entry into five new markets: Jawai, Sagar, Yavatmal, Ooty, and Kozhikode. A standout addition is a new Radisson Blu in Udaipur, featuring a unique location overlooking the Nathdwara cricket stadium. This expansion strategy balances entering new markets and reinforcing presence in existing ones, reflecting Radisson's commitment to meeting the growing demand for high-quality accommodations as India becomes a key player in the global travel industry.Read more

04 Jul 2024

A luxurious Taj Amer hotel in Jaipur could be demolished after the Nahargarh Wildlife Sanctuary's eco-sensitive zone (ESZ) monitoring committee ordered its removal. Allegedly occupying a protected zone, the hotel, managed by Kanha Hotels and Spa Pvt Ltd, faces accusations of illegal construction. The National Board for Wildlife rejected the hotel's application in February 2024, and operations began in 2023. Despite claims of having necessary approvals, the committee's order calls for action by the Jaipur Development Authority. This case highlights the need for strict adherence to environmental regulations when developing in ecologically sensitive areas.Read more

02 Jul 2024

Uttar Pradesh Chief Minister Yogi Adityanath plans to revise building regulations to boost the hotel industry and capitalise on the state's tourism potential. The proposed changes focus on easing land and road requirements for small to mid-sized hotels in residential areas. Additionally, the formation of the Shahjahanpur Development Authority aims to support planned urban development. Adityanath also seeks to repurpose unused government buildings. These initiatives are expected to create a conducive environment for hotel and real estate investments, driving growth in the hospitality sector and enhancing the attractiveness of the state for developers and homebuyers alike.Read more

26 Jun 2024

The State Bank of India (SBI), India's largest lender, plans to open 400 new branches across the country in the current financial year (FY25), despite a rise in digital banking, with nearly 89% of transactions happening outside physical branches. SBI Chairman Dinesh Kumar Khara emphasised the need for branches to provide in-person services like wealth management and financial advisory. The expansion focuses on rural areas to improve financial inclusion for the unbanked population. With these additions, SBI's network will grow to 22,942 branches, balancing physical and digital services to cater to diverse customer needs.Read more

24 Jun 2024

InterGlobe Enterprises intends to open twelve Miiro hotels throughout Europe, beginning with Paris in July and Barcelona in August, followed by London and Vienna in 2025. The new brand caters to frequent visitors aged 30 and up, offering entry-level luxury rooms. InterGlobe, which also runs IndiGo Airlines, bought eleven properties from K+K properties in 2019. InterGlobe Aviation's latest equity sale for INR 73,360 crore would fuel its expansion. Miiro plans to compete in mature areas such as London and Paris.Read more