Five-star hotels in Delhi contest ground rent hike with notices exceeding INR 240 crore
The Union Government has increased the annual ground rent for land leased to several major five-star hotels in New Delhi to crores of rupees. The Imperial and Claridges hotels are fighting the verdict in the Delhi High Court. The Land and Development Office (L&DO) issued demand notices for INR 177.29 crore for The Imperial and INR 69.37 crore for The Claridges, calculated at a 5% rate of the property value. Both hotels argue that the adjustments are arbitrary and retrospective. The court has ordered hearings before finalising the ground rent, with additional hearings set for July....
Bata India expands with 500th franchise store, aims to grow in tier 3-5 cities
Bata India, a leader in footwear, celebrates its 500th franchise store, highlighting its growth strategy in tier 3-5 cities. With over 1,860 stores nationwide, the brand leverages its strong franchise model to expand into smaller markets. The move responds to growing consumer demand for branded footwear and digital convenience. Bata's focus on premiumisation includes specialised stores like the Power Brand store for fitness enthusiasts, adapting retail strategies to local market dynamics. Despite economic uncertainties, Bata remains optimistic, driven by rising disposable incomes and evolving fashion trends. The milestone highlights Bata's resilience and strategic foresight in India's competitive footwear landscape....
IHCL to open new 170-key Taj Hotel in Anjuna, North Goa
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....
Lords Hotels & Resorts expands with Lords Eco Inn in Purulia, West Bengal
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....
Whiteland Corporation and Marriott to launch India's first standalone Westin Residences in Gurugram
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....
KKR acquires 70% stake in Baby Memorial Hospital for expansion
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....
India's hotel industry anticipates mixed performance in FY25 amid general elections and summer slowdown
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....
Radisson Hotel Group announces major expansion in India with 10 new hotels
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....
Taj Amer hotel in Jaipur faces demolition for violating eco-sensitive zone regulations
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....
Uttar Pradesh eases building regulations to boost hotel industry
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....
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....
InterGlobe to launch 12 Miiro hotels across Europe by 2025
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....
Royal Orchid Hotels targets doubling rooms to 11,000 keys in two years
Royal Orchid Hotels, a Bengaluru-based hospitality company, has announced an ambitious plan to nearly double its room count to 11,000 keys across India within two years. Targeting new cities in Jammu & Kashmir, Uttar Pradesh, Andhra Pradesh, and Telangana, the company aims to secure management contracts and explore flexible-lease revenue-sharing models. Shifting to an asset-light approach, Royal Orchid focuses on leases and revenue-sharing agreements to accelerate expansion and mitigate financial risks. With over 100 hotels in India, Sri Lanka, and Nepal, the company seeks to strengthen its luxury and smart hotel segments, reflecting optimism in the rebounding Indian hospitality sector....
Phoenix Mills announces new malls in Thane and Bangalore
Phoenix Mills Limited plans to expand with a third mall in Thane, Mumbai Metropolitan Region (MMR), as well as a potential hotel. It also aims to extend its Phoenix MarketCity Mall to Bengaluru. Phoenix Mills now operates two properties: Phoenix Palladium in Lower Parel, Central Mumbai, which houses a St Regis Hotel and a residential tower, and Phoenix MarketCity in Kurla, Mumbai. These additions seek to capitalise on Thane's growth and Bengaluru's dynamic market, expanding retail and hospitality options while driving economic growth and employment....
Lemon Tree Hotels to rennovate Aurika Mumbai to enhance customer experience
Lemon Tree Hotels is giving Aurika Mumbai a significant makeover, aiming to enhance its appeal and attract more guests. Renovations include updating rooms with new furniture, better lighting, and comfortable beds to ensure a pleasant stay. Common areas such as the lobby, restaurants, and event spaces will be redesigned for a more inviting experience. Aurika Mumbai Sky City offers modern conveniences and luxurious amenities, making it ideal for business or leisure. The hotel emphasizes fine dining and eco-friendly practices, like recycling and energy-efficient lighting. This investment reflects Lemon Tree Hotels' commitment to excellence, positioning Aurika Mumbai as a top destination in the city and boosting its reputation in the competitive hotel industry....
ITC Ltd. to demerge hotel business, creating ITC Hotels for independent growth
ITC Ltd. is set to demerge its hotel business, creating a new entity, ITC Hotels, poised for independent growth and financial stability. The move reflects ITC's strategic focus on core competencies and shareholder value, supported by a debt-free balance sheet. Despite economic challenges, ITC maintained financial discipline, emphasizing resilience and proactive management. The demerger, approved by 99.59% of shareholders and endorsed by the board in August 2023, will see ITC Hotels go public after regulatory approvals. This reorganization aims to reduce non-core risks and drive long-term profitability. ITC's focus on operational excellence and market opportunities positions both entities for continued success...
Retail space to expand by around 45 million square feet in next 5 years
A recent JLL report forecasts a 45 million sq. ft. surge in organized retail space across Mumbai, Delhi NCR, Bengaluru, Hyderabad, Pune, Kolkata, and Chennai by 2028. This transformative shift to experience-centric retail caters to today's consumer looking for more than just shopping. Expect mega malls exceeding 1 million sq. ft. and two monumental projects surpassing 2.5 million sq. ft. in Delhi NCR. Driven by global influences and investor interest, these developments promise a diverse mix of stores, entertainment zones, and dining experiences. With lease-based models allowing curated offerings, a new era of retail awaits, offering a dynamic and immersive shopping journey....
Oyo Hotels & Homes achieves first full year of profitability with INR 799.6 crore profit and INR 1,000 crore cash balance
Oravel Stays, the parent company of Oyo Hotels & Homes, reported a significant milestone: its first full year of profitability in the 2023-24 financial year with a profit of INR 799.6 crore (USD 12 million). This success follows eight consecutive quarters of positive EBITDA, totaling INR 2,100 crore. Oyo also maintained a cash balance of INR 1,000 crore and saw improvements in gross margins and operating costs. Founder Ritesh Agarwal is optimistic about future growth in India and international markets. Despite challenges like withdrawing its IPO papers, Oyo added over 5,000 hotels and 6,000 homes globally, reflecting a robust turnaround strategy....
Hilton to expand its presence in India with the introduction of Curio Collection and Waldorf Astoria brands
Hilton, a global hospitality leader with over 6,800 hotels, plans to triple its presence in India within 5-7 years. Currently operating 24 hotels across five brands, Hilton aims to expand to 75-100 hotels in top Indian markets. The strategy includes introducing the Curio Collection and Waldorf Astoria brands. A strong focus on food and beverage (F&B) aims to boost F&B revenue from 35% to 45%, targeting the INR 5 trillion wedding and conference market. Expansion into tier-2 and tier-3 cities is also planned, leveraging rising disposable incomes. This ambitious growth requires significant investment, emphasizing Hilton's confidence in India's hospitality sector....
Aparna Constructions invests INR 284 crore in Hyderabad's retail and entertainment sector
Aparna Constructions and Estates has ventured into the retail and entertainment sectors, investing INR 284 crore in Hyderabad. The company has allocated INR 252 crore to develop Aparna Neo Mall and INR 32 crore for Aparna Cinemas. The mall, located in Nallagandla, spans 3.67 acres and is set to open on May 31, 2024. Director Rakesh Reddy announced plans for four more malls featuring Aparna Cinemas across Telangana and Andhra Pradesh by 2027. Aparna's residential and commercial portfolios are also experiencing annual growth of 20% and 10%, respectively....
Radisson plans massive expansion in India with focus on religious destinations and tier two cities
Radisson Hotel Group, the second-largest international hotel chain in India, the country this year, driven by the growing demand for travel and accommodation. The chain aims to have a hotel within a two-hour driving distance in India, with a focus on expanding its presence in religious destinations. The company has already opened hotels in Ayodhya and Srinagar, achieving high occupancy and daily rates. Radisson is also planning to open new hotels in tier two, three, and four cities, believing that India's growth potential extends beyond just the metros. The company is committed to hiring 3,000 new employees this year and supporting the reverse migration of team members to their hometowns....
Lulu Group expands its presence India with new ventures in Amritsar and Noida
Lulu Group International, a prominent retail conglomerate based in Abu Dhabi, is making significant investments in India. The group has partnered with the Punjab government to establish a logistics and food-processing centre in Amritsar, which will serve as a hub for sourcing local products and supporting Small and Medium Enterprises (SMEs), farmers, and agricultural cooperatives. Additionally, the Lulu Group has expressed interest in investing INR 2,500 crore to open a mall and a hotel in Noida, Uttar Pradesh, as part of their expansion plans across the state....
Pilgrimage tourism in India sees 30-100% increase in summer bookings
India's pilgrimage destinations are thriving this summer, with travel companies reporting a 30% to 100% rise in bookings compared to last year. Popular sites like Ayodhya, Varanasi, Prayagraj, the Char Dham circuit, and Tirupati are drawing significant crowds. Thomas Cook (India) Ltd saw a 100% increase in Char Dham yatra packages, driven by younger travellers. The surge in visitors has prompted hotels to enhance their offerings, with mid-market and budget accommodations in high demand. This trend underscores the importance of pilgrimage tourism in India's travel sector, supported by innovative travel packages and improved connectivity....
Trent Ltd reports strong performance as Zudio expands to 545 stores in 164 cities
Trent Ltd's value fashion brand Zudio had a record year in fiscal 2024, opening 203 new stores and entering 46 new cities. With a store footprint of 10,000 sq ft, Zudio is well positioned for expansion. In FY2024, Zudio entered 46 new cities and strengthened its presence in 48 existing cities. For the full year, Trent Ltd reported consolidated revenues of INR 12,375 crore and net profit of INR 1,477 crore across its retail formats. The success of Zudio has attracted other national retailers like Yousta (Reliance Retail), Style-Up (ABFRL), and InTune (Shoppers Stop) to enter the value retail space. With India's value retail market projected to surge to USD 170 billion by 2026, Trent Ltd is well positioned to capitalize on opportunities through these brands in the high growth segment....
Over INR 10,000 crore to be invested by major builders into India's hotel sector
Several major real estate and hospitality companies in India have recently announced significant investments in the hotel sector. Prestige Estates Projects signed a INR 4,250 crore deal with Marriott, while DB Realty hired a hospitality veteran to expand their hotels arm worth INR 2,300 crore. Property developers like K Raheja Corp. have each earmarked at least INR 10,000 crore for hotel development over the next 5-7 years. International chains like Hyatt are also looking to invest heavily in India. House of Abhinandan Lodha plans to invest INR 2,000 crore in luxury hotels across spiritual destinations, and DS Group earmarked INR 1,000 crore for their hotels division. These large investments reflect the rapid growth and attractive opportunities in India's booming hospitality industry....
Fortune Hotels makes grand entrance near Statue of Unity with 144-room vegetarian haven
Fortune Hotels, part of ITC's hotel group, has launched Fortune Statue of Unity Ekta Nagar, strategically located near the Ekta Nagar railway station. This hotel features 144 well-appointed, vegetarian-only rooms with views of the Narmada River, catering to the growing demand for vegetarian-friendly travel. Amenities include 24-hour room service, high-speed Wi-Fi, and the Rainbow Restaurant offering a diverse vegetarian menu. The hotel also plans to offer versatile banquet facilities for up to 500 guests. Positioned near the Statue of Unity and various local attractions, Fortune Statue of Unity Ekta Nagar aims to enhance Ekta Nagar's appeal as a major tourist destination....
Phoenix Mills expands into hospitality and office space, targets growth in premium segments
Phoenix Mills, a key player in retail, is diversifying into hospitality and office spaces. They operate luxury hotels like St. Regis Mumbai (valued at over INR 1,200 crore) and Courtyard by Marriott Agra. Construction is underway for a 400-room Grand Hyatt in Bengaluru's Marketcity project, with an estimated investment of INR 600 crore. They've also acquired 11 acres near Mumbai for a potential 600-room hotel requiring an investment of nearly INR 800 crore. Their office portfolio aims to quadruple by FY28, reaching 7 million sq. ft. and generating an estimated INR 1,000 crore annual rental income, up from INR 170 crore in FY24....
Royal Orchid Hotels Ltd, in partnership with Hindva Hospitality LLP, has launched 'The World' the largest all-suite five-star hotel in Gujarat, marking its first hotel in Surat. Strategically located near key landmarks like the Surat Diamond Bourse and the upcoming Bullet Train Station, The World features 288 suites accommodating up to six guests each. The hotel boasts modern amenities, including banqueting rooms, spacious lawns, meeting facilities, a signature spa, a co-working space, and a gaming zone. This project aligns with Prime Minister Modi's vision of Surat as a diamond trading hub and aims to set new standards for luxury hospitality in the city....
Lemon Tree Hotels expands portfolio with Bareilly property acquisition
Lemon Tree Hotels expands its footprint in Uttar Pradesh with the announcement of Keys Select by Lemon Tree Hotels, Bareilly. Expected to open in 2025, the property will boast 60 rooms along with dining, banquet, and fitness facilities. Situated in the northern Indian state near Ramganga, Bareilly is renowned for its furniture manufacturing and cotton trade. Lemon Tree's move reflects the city's rising stature, particularly as a "Counter Magnet" in the NCR. With this addition, Lemon Tree Hotels reinforces its commitment to Uttar Pradesh, recognizing its rich historical and industrial appeal....
Tata-group owned IHCL launches 'Ekyam' platform to manage 25 hotels and 2,500 rooms by 2025
Tata Group-owned Indian Hotels Company Ltd (IHCL), which operates the Taj Group of hotels, has announced the launch of 'Ekyam', a new marketing platform to manage its portfolio of 25 hotels, and 2,500 rooms by 2025. The hotels at present on the platform, are jointly owned with its long-time partner, Nepali conglomerate CG Group's hospitality arm. Under two joint ventures, IHCL and CG Group own 7 of the 11 operational hotels, while CG Group owns the remaining 4. 'Ekyam' will primarily focus on properties located near adventure experiences in the Indian Ocean, Greater Himalayan regions, and wildlife areas. The platform aims to enhance transparency and drive growth in these properties under the two joint ventures between IHCL and CG Group....
Prestige Estates plans massive INR 1700 crore expansion of its hospitality portfolio
Prestige Estates Projects Ltd plans to significantly expand its hospitality portfolio over the next 3-4 years with a total investment of INR 1,700 crore. The company currently manages 1,849 rooms across various hospitality assets in India. The expanded portfolio is expected to generate annual revenue of INR 1,800 crore, double the current revenue of INR 900 crore. Prestige is exploring new markets like Srinagar, Ayodhya, Goa, Mumbai and expanding in existing markets. Prestige is also evaluating monetizing its existing hospitality portfolio through REITs and IPO. With the hospitality sector witnessing strong growth and demand returning to pre-pandemic levels, Prestige Estates' planned expansion of its portfolio seems timely....
IHCL records 27% YoY rise in Q4 net profit, plans INR 3,500 crore investment for growth
Indian Hotels Company Limited (IHCL) reported a 27.43% YoY rise in Q4 net profit to INR 418 crore, though net profit fell 8% QoQ. Revenue rose 18% YoY to INR 1,951 crore. For FY24, net profit grew 26% to INR 1,259 crore on a 17% revenue increase to INR 6,952 crore. IHCL achieved its 'Ahvaan 2025' goals ahead of schedule and will also launch upscale hotels under the re-imagined Gateway brand, expand internationally, and invest INR 3,500 crore over 5 years. IHCL is well positioned for continued growth, having already exceeded its strategic goals....
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