Over INR 10,000 crore to be invested by major builders into India's hotel sector
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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....
IHG Hotels & Resorts to expand presence in India, eyes 100 properties in five years
Author : PNT Bureau
IHG Hotels & Resorts aims to double its operating hotels in India to 100 properties over the next five years. Currently, it operates 46 hotels with nearly 50 more in the pipeline. In 2023, IHG recorded strong growth across brands in cities like Gurgaon, Mumbai and Amritsar. It is targeting tier 2/3 cities and focusing on mid-scale brands which reflect 70% of new deals. The expansion plan features brands like InterContinental, Crowne Plaza, Voco, Holiday Inn and more to meet India's demand for branded accommodations....
Wyndham Hotels plans expansion into India's growing branded residences market
Author : PNT Bureau
Wyndham Hotels is expanding aggressively into India's booming branded residences sector. By 2025, the hospitality giant aims to have at least five branded residential projects operational across major Indian cities like Bengaluru, Mumbai, and Delhi. According to Dimitris Manikis, President of Wyndham for Europe, Middle East and Africa, the company sees strong potential given rising demand from consumers who prioritize security, health, and unique experiences from trusted brands. With a robust pipeline, Wyndham is well-positioned to capitalize on the growing demand in the residential and hospitality market in India....
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