KKR acquires 70% stake in Baby Memorial Hospital for expansion
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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
Author : PNT Bureau
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....
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