Hospitality & Retail

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PVR Inox's Q3 earnings soar thanks to blockbuster movies 'Barbie' and 'Oppenheimer'

Author : PNT Bureau

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....

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DS Group eyes strategic expansion with potential acquisition of Noida's iconic GIP Mall

Author : PNT Bureau

Noida's DS Group, known for its Rajnigandha pan masala, is reportedly evaluating the acquisition of the iconic Great India Place Mall (GIP) for Rs 2,000 crore. The potential move aligns with DS Group's broader strategy to deepen its foothold in the retail and hospitality sectors. The GIP Mall, once a prime shopping destination, has faced financial challenges post the pandemic. While DS Group emphasises no official bid has been made yet, their recent acquisition activities in the hospitality sector indicate a consistent expansion strategy....

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OYO targets festive season with 750 new hotels across 35 markets

Author : PNT Bureau

OYO plans to incorporate new 750 hotels within the next three months across 35 leisure markets including Goa, Jaipur, Rishikesh and Shimla. Majority of the additions would be in OYO’s premium brands like Palette, Townhouse, Townhouse Oak, and Collection O. The number of foreign tourists who arrived in India this year during January-June was 106% more than the figure for the corresponding period in 2022 and this is expected to grow further in the upcoming festive and winter season from October to January. The company aims to tap into this boom and emphasizes providing quality accommodations and creating job opportunities in local communities. OYO has also introduced a stay now pay later (SNPL) option, offering customers a credit limit of 5000 for settlement after 15 days from the stay....

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India's rising luxury hotel demand fuels expansion plans for Lemon Tree, Hilton, and Radisson

Author : PNT Bureau

The luxury hotel sector is thriving in India due to increased demand from high-income households. Leading hotel chains like Lemon Tree, Hilton, and Radisson are expanding their portfolios to cater to this trend. Lemon Tree recently opened the country's largest hotel, Aurika Mumbai Skycity, and is planning on many other projects in the next 3-5 years. Hilton is introducing its iconic Waldorf Astoria brand in Jaipur by 2027 and is considering further expansion. Radisson is debuting its Collection luxury hotel and aims to grow its footprint in India, with a focus on tier II-IV markets. Luxury properties contributed 14% of overall brand signings by keys in 2022, up from 9% in 2018....

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Indian hotel companies poised for strong H2 growth in FY24

Author : PNT Bureau

The hotel industry is on the verge of significant growth in the upcoming July-September quarter (Q2) of the fiscal year 2023-24 (FY24). This growth is expected to continue into the second half (H2) of FY24, driven by both short-term and long-term factors. Major hotel companies are gearing up to report substantial growth in Q2, with revenue expected to increase by 15-30% compared to the previous year. This surge is primarily due to increased demand from the business segment. Chalet Hotels is expected to lead with a remarkable revenue growth of 30%, while other key players like Indian Hotels Company and Lemon Tree Hotels are also set for significant growth....

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Metro Brands Limited: Stepping up expansion and e-commerce to capture India's footwear market

Author : PNT Bureau

Metro Brands Limited is a prominent Indian footwear retail company headquartered in Mumbai. With a vast network of 766 stores spanning 182 cities in India, they house various brands like Metro, Mochi, Walkway, and Crocs. Metro Brands is focused on expansion, aiming to open 200 new stores, repositioning the FILA brand, and strengthening its e-commerce presence. They're strategically expanding in clusters and exploring new markets in Tier 2 and Tier 3 cities, recognizing the growing importance of online shopping in the post-pandemic world. Their multi-channel approach combines physical and online stores to provide a seamless shopping experience for their customers....

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Controversial MakeMyTrip ad for India-Pakistan cricket match draws mixed reactions

Author : PNT Bureau

The India-Pakistan cricket rivalry took centre stage at the world's largest cricket stadium in Ahmedabad, Gujarat, on October 14, 2023. India's victory left fans ecstatic, but it wasn't just the match that had everyone talking. MakeMyTrip, one of India's leading online travel companies, released a controversial ad ahead of the game. The ad offered discounts to Pakistani fans based on the margin of their team's loss. While intended as a joke, the ad generated mixed reactions. Some found it disgraceful and insensitive, while others appreciated its light-hearted spirit. The India-Pakistan rivalry continues to evoke strong emotions, sparking creativity and debates that show no signs of slowing down. MakeMyTrip has yet to comment on the ad....

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Godrej Properties unveils luxurious Taj The Trees Hotel in Vikhroli, Mumbai

Author : PNT Bureau

Godrej Properties has unveiled the Taj The Trees hotel in Mumbai’s evolving Vikhroli neighbourhood. This luxury hotel, owned by Godrej Properties and managed by Indian Hotel Companies Limited (IHCL), spans 0.35 million square feet, offering 151 spacious rooms, dining options, a rooftop bar, pool, conference facilities, and a spa. The establishment has earned IGBC Platinum certification and offers captivating views of mangroves and an art and sculpture park. Vikhroli’s strategic location along the Eastern Express Highway connects it to various parts of Mumbai, including airports, making it an attractive destination for both business and leisure travellers....

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Expanding Luxury: The Postcard Hotel and ITC’s Storii bring new waves into Indian hospitality

Author : PNT Bureau

The Postcard Hotel is set to unveil India's most expensive hotel in Ranthambore, Rajasthan, offering luxury amidst nature's beauty. The hotel, designed by architect Luca Franco, features 14 opulent rooms, each with a private heated pool, and nightly rates starting at Rs. 1.95 Lakh. The Postcard Hotel plans to expand to seven more locations in the coming year, including Tirupati, Goa, and the Himalayas. With a vision to redefine luxury in the Indian hospitality sector, the chain aims to amass $1 billion in assets over the next three years and open new properties every quarter for the next seven years. Meanwhile, the ITC Hotels Group is expanding its boutique "Storii" brand to Kolkata, adding to its collection of unique boutique hotels across India....

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Indian FMCG Giant DS Group to invest Rs. 1,000 crore in expanding hotel portfolio

Author : PNT Bureau

DS Group, a leading Indian FMCG conglomerate, has reported a 12% increase in room revenues and 75% occupancy in its hotels over the past year. Capitalizing on this success, the company is expanding its hospitality offerings to meet the growing demand. With current locations in Jaipur, Guwahati, Nainital, and Jim Corbett, DS Group plans to add 250 more rooms to its portfolio by 2025. This move aligns with India's year-round tourism growth and increasing demand for accommodations due to conferences, weddings, and weekend events. The company intends to invest Rs. 500 crore in expanding existing hotels and another Rs. 500 crore in new hotel developments....