15 Apr 2024

Blackstone Inc., a global alternative investment firm managing over USD 1 trillion in assets, is venturing into India's hotel market amid a strong rebound post-pandemic. With significant investments in Indian real estate, Blackstone is cautiously entering the hospitality sector, targeting independent hotels in South India valued between INR 300-400 crore. Blackstone's entry adds to growing investor interest in the sector, evidenced by recent acquisitions such as Chalet Hotels' purchase of Courtyard by Marriott Aravali Resort and Max Estates' acquisition of Accord Hotels and Resorts. Blackstone Inc., the world's largest alternative investment firm with over USD 1 trillion in assets under management (AUM) globally, is reportedly entering the Indian hotel market.Read more

12 Apr 2024

Mumbai-based NBFC, Infinity Fincorp, secured a USD 26 million funding round led by Jungle Ventures to aid small businesses' access to formal credit. Targeting micro-entrepreneurs often neglected by traditional banks, Infinity specialises in lending to businesses like tea shops and small manufacturers. With a loan book exceeding INR 750 crore across 20,000 loans, the funding will expand their reach. Founder Shrikant Ravalkar plans to invest in distribution, accelerating their mission. With micro-enterprises forming over 95% of Indian businesses facing a credit gap exceeding USD 500 billion, Infinity's investment promises a more inclusive and prosperous economic future.Read more

12 Apr 2024

Hilton has acquired a majority controlling interest in Sydell Group to expand its NoMad Hotels brand globally. Led by founder Andrew Zobler, Sydell Group has established innovative lifestyle brands like NoMad, The Line, and Freehand. NoMad properties will maintain their design and branding under Sydell Group while Hilton oversees expansion, aiming for 100 hotels worldwide. The partnership aligns with Hilton's strategy to enhance its luxury and lifestyle offerings, catering to evolving guest preferences. Each NoMad hotel will offer a unique luxury experience tailored to its locale, blending grandeur with intimacy and featuring local art collections. Hilton's venture into the luxury lifestyle sector solidifies its position as an industry leader, delivering exceptional experiences to travelers worldwide.Read more

11 Apr 2024

Singaporean hospitality brand Ascott is looking to enter the co-living segment in India and expand its serviced apartment business in the country. Currently operating seven properties through partnerships, Ascott plans to open 10 more by 2027. It also intends to launch a co-living brand in India, having started one in Singapore in 2019. Ascott tied up with Paras Buildtech to open a 94-room serviced apartment in Gurugram. The company aims to open another property in Gurugram and then explore tier-2 cities. Ascott covers various accommodation types and caters to the needs of living spaces in growing tech hubs.Read more

10 Apr 2024

Bengaluru-based Ferns Estates acquires a luxury hotel in Goa for INR 175 crore, along with an adjacent 2-acre plot for additional suites. Securing a INR 150 crore project loan from Bajaj Finance, they plan to construct high-end suites to meet demand. Chairman Errol Fernandes highlights Goa's dense hotel landscape and Ferns Estates' expansion strategy to add 1,000 keys across diverse locations. This move aims to enhance profitability and market position. In 2023, Indian hotel investments surged to USD 401 million, with HNIs and financial institutions driving activity.Read more

09 Apr 2024

Radisson Hotel Group aims to sign 30 new hotel deals annually over the next five years as part of its aggressive expansion plans in India. Currently India's second largest international hotel operator with 115 hotels across its brands, Radisson sees continued strong growth in India's hospitality sector. The company plans to open 30 hotels each year to achieve its goal of having a property within a two-hour drive anywhere in India. This bullish outlook is driven by surging domestic demand and higher investments from hotel owners, positioning Radisson for further growth in India.Read more

05 Apr 2024

PepsiCo India has announced plans to set up a new flavor manufacturing plant in Ujjain, Madhya Pradesh with an investment of INR 1,266 crore. Spread over 22 acres, the facility will boost PepsiCo's beverage production capabilities in India as part of its expansion plans. The company states the plant will be fully powered by renewable energy and implement zero liquid discharge technology to ensure 90% overall water efficiency and responsible water management. This investment marks PepsiCo's second major move in India since September 2023 and will be operational by early 2026.Read more

04 Apr 2024

Accor, a global hospitality giant, is poised for substantial expansion in India, aiming to add 30 new hotels with around 5,500 rooms over the next three to five years. With a diverse portfolio spanning luxury to economy segments, including renowned brands like Raffles and Novotel, Accor targets India's burgeoning middle class and thriving events market. Anticipated openings in cities like New Delhi and Bhopal highlight its strategic growth trajectory. Bolstered by India's economic growth and tourism sector, Accor's commitment to annual growth reflects confidence in the market's potential. As hotel investment surges and interest spreads to Tier-2 cities, Accor's ambitious plans align with India's evolving hospitality landscape.Read more

03 Apr 2024

Kolkata-based Jain Group plans to invest INR 500 crore by 2030 for expanding its hospitality business. Teaming up with Sarovar Hotels Pvt Ltd, they will launch a new hotel in Rajarhat within four months, investing INR 120 crore initially. The upcoming hotel, Sarovar Portico Kolkata Rajarhat, will boast 128 rooms across various categories and is set to open this July. Jain Group aims to reach 1,000 hotel rooms by 2030, including upscale mid-market to luxury segments, with existing presence at Holiday Inn, Kolkata airport, and plans for three more hotels in Siliguri, Durgapur, and Joka.Read more

02 Apr 2024

Indian Hotels Company Ltd (IHCL) has signed 52 hotels during the fiscal year 2024, nearly tripling the number of signings compared to the previous year. This accelerated expansion reflects IHCL's goal of growing its portfolio to over 300 hotels as part of its 'Ahvaan 2025' strategy. IHCL also opened 34 hotels in FY24, achieving its target. Executives highlighted strategic growth through upscale full-service hotels and existing partnerships, with a diversified pipeline including international and airport locations that reinforces IHCL's domestic leadership while facilitating international expansion.Read more