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08 May 2023
Indian Hotels Company Limited (IHCL), which is supported by the Tata Group, reported a historic annual profit amounting to Rs 1,053 crore in the financial year 2023, compared to a loss of Rs 265 crore in the previous year, due to effective asset management, demand surpassing supply, robust portfolio growth, among other factors. IHCL saw a 90 percent increase in revenue from operations, totalling to Rs 5,810 crore in the same period.Read more
24 Feb 2023
After 13 rounds of intensive bidding, the three-winning bidders of the now-defunct Rajesh LifeSpaces hotel property in Mumbai bidders are the hospitality and restaurant conglomerate Sankalp Recreation from Ahmedabad, Shri Ram Multicom from Kolkata and Rare Asset Reconstruction Co. The valuer chosen by the banks will now assess the three bidders' varied strategies. Lenders will put the best plan up for voting based on the net present value in accordance with the valuer's report.Read more
20 Feb 2023
Apeejay Surrendra Park Hotels Ltd (ASPHL) is a hotel company that operates under two brands: The Park and Zone by The Park. The company is set to revive its fundraising activities with a decision to go public with an initial public offering (IPO) of Rs 1500 crore by September of this year. Axis Bank, JM Financial, and ICICI Securities are the lead managers for the IPO. ASPHL is expected to be valued at Rs 5000 crore, and about 30% of the company's stake will be offered in the IPO, which will be a mix of primary and secondary sale of equity.Read more
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20 Jan 2023
In a statement released to the press, Unity Group co-founder Harsh V Bansal claims the company has entered into a joint development agreement with Parsvnath Developers to create 450,000 square feet of retail space in Delhi. The development will draw an investment of approximately Rs 200 crores. The land for mall will be leased from Delhi Metro and is situated close to the Netaji Subhash Place metro station. The deal is a part of the company’s strategy to double its retail portfolio and establish a retail Real Estate Investment Trust (REIT) in the coming year.Read more
28 Dec 2022
The United States Green Building Council (USGBC) has awarded 10 properties belonging to the ITC Hotels Group with the coveted “LEED Zero Carbon Certification”. This certification is awarded to building that operate with net zero carbon emissions annually. An entity’s carbon balance should be either ‘0’ or -ve. (Carbon Balance = Total Carbon Emitted - Total Carbon Avoided). According to the board, the ITC Hotels is the world’s largest chain with the maximum number of LEED Platinum-certified properties.Read more
01 Jan 1970
The Asia Pacific hospitality sector is undergoing a transformative shift, with global hotel operators increasingly dominating the landscape. Over 86% of future hotel supply in the region is expected to come through international brands. This rise is fuelled by brand proliferation, acquisitions, and strategic partnerships tailored to local markets. Branded hotels in the region are outperforming independent ones in revenue and performance, backed by global loyalty programmes and stronger distribution systems. Investors are also actively favouring branded properties, leveraging opportunities in rebranding and value-add strategies to maximise returns.Read more
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