Hospitality & Retail

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Eldeco's Terra Grande Sirmaur: Holiday Homes in Himachal Pradesh

Author : PNT Bureau

Terra Grande Sirmaur, nestled in Himachal Pradesh's hills, epitomises luxury and tranquillity for those seeking upscale holiday homes in the Himalayas. The project, a part of Eldeco Group, offers exclusive villas in a serene hillside locale, blending modern living with natural beauty. With low-density, secure designs and a host of amenities, it promises a harmonious second home experience. Amidst a growing trend for holiday residences, Terra Grande redefines luxury hillside living, hinting at a future of sophisticated dwellings in sync with nature's abundance....

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IHG Hotels experiences growth amid a tourism surge, shifting focus towards luxury offerings

Author : PNT Bureau

In 2023, IHG Hotels and Resorts, a global hospitality leader, experienced a remarkable rebound, surpassing pre-pandemic levels and witnessing extraordinary growth in the tourism industry. The company, managing renowned brands like Holiday Inn, Intercontinental, and Six Senses, marked the launch of its premium lifestyle brand Voco and secured 15 new deals during the year. Sudeep Jain, IHG Hotels & Resorts Southwest Asia managing director, highlighted the industry's expansion as a key factor behind the success, citing increased occupancy rates and room rates. With plans to add 45 hotels in the next three to five years, including luxury brands Regent and Kimpton, IHG anticipates continued growth in the Indian market....

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NCLAT rules in favour of Appu Hotels promoters in takeover bid dispute

Author : PNT Bureau

The National Company Law Appellate Tribunal (NCLAT) has ruled in favour of Appu Hotels' existing promoters, restoring the Board of Directors' powers suspended during a takeover bid by MGM Healthcare's Managing Director M K Rajagopalan. Acceptance of the settlement proposal by Appu Hotels' promoter, Palani G Periasamy, led to the withdrawal of the resolution process, reinstating AHL's original board and control over assets. The decision allows the full-scale operation of Hotel Le Royal Meridien in Chennai, marking a significant step forward. The tribunal's approval of the Rs. 595 crore settlement sets a rare precedent for complete debt resolution, offering hope for industries navigating financial distress under the Insolvency and Bankruptcy Code....

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Gurugram struggles to curb proliferation of unapproved guesthouses covering 145 acres

Author : PNT Bureau

Gurugram faces a rampant proliferation of unauthorized guesthouses, covering 145 acres in key sectors, with approximately 1,400 operating illegally. Despite enforcement efforts by the Town and Country Planning Department, these establishments persist, often breaking seals or obtaining court stays. State policies for guesthouse construction include minimum plot sizes and sector-wise caps, but recent data reveals 70% of guesthouses operate unlawfully. Many serve as alternative accommodations for medical, IT, and industrial entities, maintaining a high 90% occupancy rate. The issue, stemming from 2010 B&B licenses, persists due to lax enforcement. Authorities face the urgent task of curbing this unchecked growth to restore order in the city's accommodations....

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Hotel plots near Noida International Airport set for e-auction on December 22

Author : PNT Bureau

The Yamuna Expressway Industrial Development Authority (YEIDA) plans to auction land for hotels near the upcoming Noida International Airport in Jewar. An e-auction is scheduled for December 22 which will offer three commercial plots in Sector 28, adjacent to the airport and the Yamuna Expressway. These strategically located plots aim to attract big players. Big entities like the ITC Group have already expressed interest. With applications accepted until December 14, the auction anticipates a minimum revenue of Rs 108 crore. Successful bidders will secure 90-year leases for constructing multi-storey hotels, pending clearance for structures exceeding 24 meters in height from the Airports Authority of India....

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ICRA predicts 15% surge in trading values and rental income for mall operators in FY24 and FY25

Author : PNT Bureau

ICRA projects a 14-15% growth in retail trading values for FY2024 and a 10-12% rise in FY2025, buoyed by robust consumer demand. Mall operators are expected to witness a 9-10% YoY growth in rental income for FY2024 and 8-9% in FY2025, fuelled by healthy occupancy rates and rental escalations. H1 FY2024 already saw an 8.4% YoY increase in rental income. The rebound in footfalls and trading values from FY2023 persists into H1 FY2024, with ICRA anticipating continued growth. The Indian retail sector, particularly malls, shows resilience and recovery supported by increased household spending and positive consumer sentiment....

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Leela Palaces expands into Northeast India with a luxurious Sikkim retreat

Author : PNT Bureau

The Leela Palaces, Hotels and Resorts has ventured into Northeast India with the signing of a management agreement for Leela Sikkim, a 140-room luxury hotel set to open in December 2026. Located near Gangtok Hill, the resort, owned by the SIBIN Group, aims to redefine hospitality in the region with its Himalayan backdrop, innovative design, and signature services. Featuring independent villas, wellness facilities, diverse dining options, and a casino, Leela Sikkim promises an authentic experience, showcasing the cultural richness and natural beauty of this unexplored Himalayan destination. The expansion aligns with The Leela's strategy to grow in key leisure destinations across India....

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Cinepolis unveils cutting-edge 1427 seater multiplex at LULU Mall in Hyderabad

Author : PNT Bureau

Cinépolis introduces a state-of-the-art multiplex at Hyderabad's LULU Mall, boasting 5 screens and 1427 seats, setting a new standard in cinematic indulgence. With an emphasis on comfort, RealD 3D technology and Dolby Atmos, this venture elevates the movie watching experience. The multiplex features a gourmet dining counter and expands Cinépolis's footprint to 27 screens across Hyderabad and 127 screens in South India. This collaboration between Cinépolis and LULU Mall promises an immersive, culturally rich entertainment experience, blending world-class cinema with vibrant surroundings, setting a new benchmark in cinematic excellence....

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Dusit International announces inaugural hotel venture in Malaysia's Gamuda Cove

Author : PNT Bureau

Dusit Hotels and Resorts collaborates with property developer Gamuda Land for its inaugural venture in Malaysia named ASAI Gamuda Cove. It is set to open in Q1 2026. This 280-key hotel follows Dusit's unique ASAI brand and the enhanced 'ASAI Tropical' model, offering diverse amenities. Positioned strategically in Gamuda Cove, near the biodiversity-rich Paya Indah Discovery Wetlands, it seamlessly integrates with nature and community. The hotel supports eco-friendly practices, featuring a first-of-its-kind e-tram network. Anticipating a million annual visitors, this partnership aligns with Gamuda Cove's eco-tourism focus. Dusit International's global portfolio and plans for new hotels reinforce its industry prominence....

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Saijo's Itomachi Hotel O: Japan's first zero-emissions hotel redefines sustainability

Author : PNT Bureau

The Itomachi Hotel O in Saijo, Japan, designed by architect Kengo Kuma and spearheaded by semiconductor company Advantec, is drawing attention as the nation's first zero-emissions hotel. Inaugurated as part of a regional revitalization effort, the hotel achieves net-zero carbon emissions through rooftop solar panels, contributing to the city's renewal amid population decline. The multifunctional complex, featuring a market and restaurants, serves as an emergency shelter with a 140-kilowatt solar capacity. The hotel enhances this to 300 kilowatts, securing the highest green accreditation in Japan. This innovative project not only addresses environmental concerns but also exemplifies the integration of sustainability with community-driven regional development....