08 Nov 2023

Accor, a global hospitality leader, has strengthened its foothold in India with the launch of the Novotel Jaipur Convention Centre (NJCC), its 24th property in the country. NJCC serves as a pivotal milestone in Accor's expansion strategy, catering to the booming business and conference travel market. The hotel, strategically located near Jaipur International Airport and major attractions, offers 226 modern rooms and exceptional amenities. It distinguishes itself as a versatile MICE facility, spanning 42 acres with 13 meeting rooms, a grand ballroom, and a vast lawn for events. This move enhances Accor's presence in India's hospitality sector and elevates Jaipur as a prime destination for large-scale events and conventions.Read more

07 Nov 2023

Olive by Embassy, a leading multi-brand hospitality management firm, is excited to announce its entry into the realm of hybrid hospitality and leisure, driven by the changing landscape of hospitality. Olive introduces four distinct brands aimed at meeting the diverse requirements of today's travelers. This approach is built on a "hospitality first" ethos and integrates various elements like hotels, co-living, coworking spaces, members' clubs, wellness amenities, and dining options within one location. Olive aims to expand its presence across India, with plans for premium resorts and luxury stays in key leisure destinations, along with an employment boost for various cities.Read more

04 Nov 2023

Roostels India, the master licensee for Roadies Rostel, plans expansion into diverse travel segments, including backpackers and co-living accommodations. With the flagship Roadies Rostel Leisure brand expanding to holiday destinations, Roadies Rostel Backpackers targets budget-conscious backpackers, and Roadies Rostel Co-living caters to short and long-term stays, including corporate guests. Roostels India's strong social media presence, coupled with its franchise model and strategic approach, positions it as a significant player in the evolving hospitality landscape, with plans for expansion in key cities and holiday destinations.Read more

03 Nov 2023

Beyond Green, a global hotel portfolio focused on sustainability, has added two palace hotels from The Leela Group: The Leela Palace Bengaluru and The Leela Palace Udaipur. Beyond Green, by Preferred Hotels & Resorts, focuses on aligning with the Sustainable Development Goals related to nature, culture, and community. Currently comprising 38 hotels, mostly upper upscale and luxury properties, Beyond Green plans to expand to 42 by year-end. Around 50% of Beyond Green member hotels are not Preferred Hotel members, indicating its growth beyond the Preferred brand. This initiative aims to set higher sustainability standards beyond typical green practices.Read more

01 Nov 2023

Reliance Industries is set to unveil Jio World Plaza, India's largest luxury shopping destination, on November 1. Located in Mumbai's Bandra Kurla Complex, the 750,000 square feet mall will host prestigious luxury brands like Bulgari, Cartier, Louis Vuitton, and many more. Notably, Bulgari will make its debut in the Indian market through this venture. The mall will provide exclusive services such as personal shoppers, VIP concierge, wedding concierge, and porter service, enhancing the luxury shopping experience in India. With the country's evolving luxury retail landscape and increased demand, this launch marks a new era in luxury retailing.Read more

01 Nov 2023

The Indian hospitality industry is witnessing a surge in investments from family offices and high net worth individuals (HNIs). In the first nine months of 2023, family offices have invested Rs 900 crore in hotels, which is two-thirds of the total investments of Rs 1,400 crore made in the industry. This marks a substantial increase compared to 2022 when family offices invested Rs 190 crore out of the total Rs 600 crore in the hotel sector. The investment momentum is expected to continue, reaching Rs 2,000 crore in 2023, driven by robust average daily rates (ADR) and occupancy levels in hotels across the country. Emerging markets like Ayodhya, Varanasi, Haridwar, and Rishikesh are also attracting investment.Read more

31 Oct 2023

The Indian hotel sector is on track for a double-digit revenue growth in FY24 powered by robust domestic and international tourism, states a recent report by ICRA Limited. The growth got a boost from global events like the G20 Summit and ICC World Cup 2023 held in India. ICRA anticipates a 70-72% occupancy rate in premium hotels across India in FY24, with average room rates expected to hover around Rs 6,000 to Rs 6,200. The report highlights improved infrastructure, enhanced air connectivity, and a rise in MICE (Meetings, Incentives, Conferences, and Exhibitions) events as key drivers behind this optimistic outlook, indicating a resilient rebound for the industry post-pandemic.Read more

27 Oct 2023

Karma Group, led by Chairperson and CEO John Spence, is redefining luxury hospitality with its unique members-only model. They plan to invest $100 million for expansion and have partnered with EY to explore diverse financing options. Their focus on exclusivity and tailored experiences, akin to elite membership clubs, has garnered them around 85,000 members, including 25,000 from India. Recognizing evolving consumer preferences, Karma Group emphasizes the entertainment aspect of hospitality, creating memorable experiences. Their prudent financial strategy, with minimal debt exposure, and a global presence, including 15 resorts in India, mark them as pioneers in the luxury hospitality industry.Read more

26 Oct 2023

Darjeeling's Gorkhaland Territorial Administration (GTA) has leased out nine tourism properties in the Sandakphu-Phalat area to private parties due to their failure to generate sufficient revenue. These properties, mostly lodges and trekking huts along the Himalayan trail, were found to be in need of repairs estimated at Rs 6.72 crore. Sandakphu, the highest point in Bengal at 12,000 feet, is renowned for its trekking trail. The leasing decision has sparked controversy, with some alleging favouritism in property selection. GTA member Noran Sherpa defended the process, noting that a committee assessed properties' financial health before leasing them.Read more

24 Oct 2023

India's largest multiplex operator, PVR Inox, has reported a profit for the latest quarter, marking the third consecutive financial report since the merger of PVR and Inox. The profit of 166 crore for the July-September quarter was driven by the success of Hollywood movies like "Barbie" and "Oppenheimer" and popular Bollywood films, leading to higher theatre attendance. The company also expanded by opening 37 new screens during the quarter, contributing to a 53.3 percent sequential increase in consolidated revenue. The average ticket price and customer spending on food and beverages both increased, offsetting higher expenses. PVR Inox's shares rose in the September quarter.Read more