09 Aug 2023

Pancard Clubs, a company focused on hotel and resort development, has been ordered to undergo a Corporate Insolvency Resolution Process (CIRP) due to defaulting on investor repayments. Over 100 investors, seeking to recover Rs. 1.5 crore, filed a petition against the company. Pancard Clubs operated an unregistered investment scheme under the guise of a timeshare scheme, generating returns on investments. The company was directed to refund Rs. 7,035 crore to investors, leading to legal battles and property auctions. The court's decision emphasizes the importance of investor awareness to prevent such collective investment scheme scams.Read more

04 Aug 2023

The Leela Ashtamudi, A Raviz Hotel, marks The Leela Group's second entry into Kerala, India. Located by the tranquil Ashtamudi lake, the hotel provides a relaxing environment surrounded by lush greenery and coconut trees. With 93 rooms showcasing Kerala's Nalukettu aesthetic tradition, private plunge pool villas, and two traditional experiential houses dating back 200 years, the hotel offers a blend of modernity and tradition. Guests can enjoy backwater cruises on the houseboat named Mahayana. The dining venues offer mesmerizing lake views and a range of delicious regional dishes. The resort also offers Kerala Ayurveda and spa treatments for healing and relaxation, along with an outdoor pool and fitness centre.Read more

03 Aug 2023

Dusit International, a leading Thai hotel and property development company, launched its ambitious sustainability initiative, "Tree of Life." Designed to embody environmental, social, and governance elements, the program introduced four levels of achievement, encouraging Dusit properties to operate sustainably. Led by a dedicated Sustainability Committee, the initiative aims to protect vulnerable species, reduce waste, conserve energy, and support local communities. As hotels and business units progress through the levels, guests can easily identify their sustainability efforts. "Tree of Life" reflects Dusit's values, signaling their commitment to making a positive impact in every place they touch.Read more

31 Jul 2023

Mahindra Holidays & Resorts India is gearing up to introduce a new resort brand to captivate the growing traveller demographic in India. The brand aims to offer nightly accommodations, challenging established market leaders. The company seeks to double its room inventory by 2030, catering to over 340,000 members globally across 135 resorts. With zero debt and a 20% increase in total income, Mahindra Holidays is also on track to be entirely debt-free by 2024-25, providing a promising platform for the aggressive expansion of their timeshare offerings.Read more

28 Jul 2023

FMCG giant ITC has announced the demerger of its hotel business, leading to the creation of a new entity, ITC Hotels Ltd, as a wholly-owned subsidiary of ITC Ltd. The demerger aims to attract specialized investors and strategic partners for the hospitality segment while unlocking value for ITC's shareholders. By creating a separate entity, ITC can focus on optimizing each segment's operations and cater to specific industry needs. The move reflects ITC's vision for growth and increased agility in the competitive hospitality market. While some may raise concerns about the conglomerate's stability, the benefits of focused operations and targeted investments outweigh potential drawbacks.Read more

24 Jul 2023

The North Goa Airport, also known as Manohar International Airport Mopa, is set to see significant development with the addition of two new hotels near the parking lot. Operated in collaboration with Ginger hotels and renowned French hospitality firm Accor SA, these hotels will offer 100 and 200 rooms in their first and second phases, respectively. The hotels' location near the airport and the booming real estate and tourism in Goa are expected to drive room rates between Rs. 8000 to Rs. 10,000 per day. The public-private partnership venture signifies a promising future for Mopa Airport, benefiting from the increasing demand for accommodations in the state.Read more

21 Jul 2023

Indian Hotels Company Limited (IHCL) has expanded its presence in Maharashtra with the introduction of a new Ginger hotel in Kolhapur. The addition of this hotel reflects IHCL's commitment to providing quality accommodation options across India. The Ginger hotel in Kolhapur will feature 70 well-appointed rooms, a multi-cuisine restaurant, a meeting room, and a fitness centre. With its strategic focus on emerging markets, IHCL aims to tap into the growing demand for affordable accommodation in tier-II and tier-III cities. The presence of IHCL in Kolhapur will contribute to the local economy and enhance the city's reputation as a preferred destination for both business and leisure travellers.Read more

19 Jul 2023

Mandarin Oriental plans to open its third luxury hotel in London by 2028, adding to its existing properties in Hyde Park and Knightsbridge. The strategically located hotel will offer a lavish experience, combining contemporary elegance with classic British charm. With exceptional service, opulent amenities, and renowned dining options, the Mandarin Oriental London aims to attract both business and leisure travellers. The hotel will feature extensive wellness and leisure facilities, providing a tranquil escape from the bustling city. Set to enhance London's hospitality scene, the opening of this prestigious property is highly anticipated.Read more

19 Jul 2023

FIVE Hotel Group has become a trailblazer in sustainability by achieving a monumental feat in the UAE—obtaining 100% renewable electricity. Through a collaborative effort with the Dubai Electricity and Water Authority (DEWA), FIVE has emerged as the first hotel group in the country to receive this distinction. This achievement highlights the power of collaborative innovation and demonstrates FIVE's unwavering commitment to Sustainable Development. With a significant reduction in carbon use intensity and ambitious action plans for the future, FIVE aims to inspire others and create a reality where audacious dreams, creative building, and vibrant living converge for climate revitalization.Read more

13 Jul 2023

Titan, a subsidiary of Tata Group, is planning to expand its global presence by opening 18 new stores for its jewellery brand, Tanishq, with a focus on the Gulf region. The company aims to have a total of 25 stores by the end of the fiscal year, driven by high demand for Tanishq jewellery. Titan also plans to expand its eye care business through the Titan Eye+ brand, initially targeting the GCC region. The company is intensifying efforts in the Tamil Nadu market and enhancing its presence in the Watches & Wearables segment. Titan achieved consolidated revenue of Rs 40,575 crore in the fiscal year 2023.Read more