Indian Hotels

Sarovar Hotels bets big on highway properties; 80 projects in pipeline

Hospitality firm Sarovar Hotels is broadening focus towards highway hotels and resorts close to major cities, capitalising on the country's rapidly expanding roads network, a top official said. The hotel chain has 80 projects in the pipeline over the next few years as part of its expansion plan, he said. "Highway hotels and resort-concept properties close to cities, within three-four hour journey, are a new high-growth segment for hospitality, at a time when competition is getting intense in urban centres," Sarovar Hotels Chairman Ajay K Bakaya told PTI in an interview. He said this strategic shift aligns with the ongoing road infrastructure development in the country. Enhanced connectivity is opening up opportunities for leisure and business travel, creating demand for accessible and convenient accommodation options, he said. "We haven't seen such development of highways in the past. Around 10,000 km of national highways are being constructed annually, which is remarkable. It is

Delhi HC reserves verdict on plea against ban on eateries' service charge

The Delhi High Court on Friday reserved its verdict on the petitions by restaurant bodies challenging the guidelines prohibiting hotels and restaurants from automatically levying service charge on food bills. "Arguments heard. Judgement reserved," said Justice Prathiba M Singh. Federation of Hotels and Restaurant Associations of India (FHRAI) and National Restaurant Association of India (NRAI) moved court in 2022 by filing two separate petitions. The guidelines, issued by Central Consumer Protection Authority (CCPA) on July 4, 2022, were stayed by the high court later that month. The counsel for FHRAI, in his rejoinder submissions on Friday, asserted the CCPA had no power or jurisdiction to impose such a ban, without following the principles of natural justice. "Merely holding a meeting with the industry body is not in compliance of natural justice," he said, "the guideline could only be advisory in nature". He said the service charge was levied on customers for the benefit of th

Indian mid-segment hotels enjoy competitive edge against int'l peers

Flexible contracts with suppliers and access to cost-effective cloud solutions are giving home-grown mid-segment hotel brands a competitive edge against international counterparts in India, according to a whitepaper by cloud-based hospitality technology solutions provider Hotelogix. According to the whitepaper, home-grown mid-market brands with small inventory can experience rapid growth in tier II, III, and IV cities, as it is exceedingly challenging for international brands to establish operational capabilities in those areas where 80-85 per cent of demand is domestic. India's home-grown mid-segment hotel brands control about 60 per cent of the total branded rooms available in the country, it mentioned. These domestic mid-market brands have also begun exploring management contracts and franchise models as a growth strategy, providing a significant competitive advantage over international chains, it said. Being Indian brands, they understand local people, culture, and tradition ..

Premium valuations likely to cap upsides for Indian Hotels' stock

The company expects revenue per available room (RevPAR) growth to remain strong, with like-for-like RevPAR to grow in high single digits

Indian Hotels, Federal Bank, Coforge from BSE Midcap index hit record highs

Shares of Coforge hit a new high of Rs 8,236.95, gaining 3%, and zooming 71% in six months, on a strong growth outlook.

Better demand trends upgrade Indian Hotels Company to profit suite

Management credits demand-supply gap, shifting demographics for hitting the 'suite spot'

Taj Hotels' parent co IHC to add 120 properties to tap travel, wedding boom

Indian Hotels will open the 1952-built Hessischer Hof in Frankfurt in the next 10 months marking its first foray into continent Europe

IHCL Q2 results: Net profit zooms more than 3-fold to Rs 582.71 cr

Indian Hotels Company Ltd on Thursday reported a more than three-fold rise in its consolidated net profit to Rs 582.71 crore for the second quarter of 2024-25, helped by exceptional gains from the consolidation of its air and institutional catering business segment TajSATS. The country's largest hospitality firm had registered a net profit of Rs 178.97 crore in the year-ago period, according to a regulatory filing. Its revenue from operations increased to Rs 1,826.12 crore in the June-September quarter from Rs 1,433.20 crore in the corresponding quarter of the last financial year. However, during the period under review, IHCL's expenses also rose to Rs 1,502.01 crore, as against Rs 1,248.68 crore a year ago. Puneet Chhatwal, Managing Director & CEO, IHCL, said, "The second quarter witnessed a strong revival of demand resulting in overall revenue growth of 28 per cent and 16 per cent growth for the hotel segment, marking the best ever Q2 Consolidated EBITDA margin at 29.9 per ...

IHCL acquires 55% stake in Rajscape Hotels to enhance experiential leisure

Rajscape Hotels manages 16 boutique properties under the brand 'Tree of Life Resorts & Hotels' across India

This recently listed stock enters top-100 mcap club; jumps 127% in 6 days

At 02:16 pm, with a market cap of Rs 95,886 crore, Waaree was trading 12% higher at Rs 3,337.70, and stood at number 100th position beating Indian Hotels.

Cuban cigars to AirTags: Luxe hotels curate Diwali hampers beyond the box

Locally sourced goodies, sustainable packaging becomes the draw this festival season

Hyatt Hotels plans to reach 100 properties in India within 5-6 years

Global hospitality major Hyatt Hotels Corporation is confident of nearly doubling its properties in India to 100 hotels over the next five to six years to tap opportunities in one of its top global growth markets, according to a senior company official. The company is also actively exploring opportunities to introduce additional global brands from Hyatt's portfolio to India, Hyatt Hotels Corporation Managing Director, India & Southwest Asia, Sunjae Sharma told PTI in an emailed interview. "We are enthusiastic about our expansion plans in India. With our strong pipeline and strategic growth initiatives, we are confident that we will achieve the milestone of 100 hotels within the next 5-6 years," he said. Sharma said, "This ambitious target is driven by the flourishing travel and hospitality industry in India, the growing demand for high-quality hospitality, and the strong connection our brand has with discerning travellers." He was responding to a query on how many properties and ..

Oyo likely to raise $200 million at 2x valuation of $4.5-5 billion

OYO to refinance its $450 mn of outstanding debt

SAMHI Hotels to acquire Innmar Tourism for enterprise value of Rs 205 cr

Innmar Tourism and Hotels, incorporated in October 2003, had a turnover of Rs 24.76 crore in FY24

Oyo buys leading US hotel chain G6 Hospitality from Blackstone for $525mn

Oyo has steadily expanded its footprint in the United States since its launch in the region in 2019 and currently operates over 320 hotels across 35 states

From filter coffee to viral blend: Annapoorna steams up headlines

Sreenivasan raised concerns about the different GST rates for sweets, savouries, and bakery products during an interaction of Sitharaman with MSMEs and Chamber of Commerce in Coimbatore

Chandan Taparia of MOFSL recommends buying these stock on September 11

PI Industries is in a strong uptrend and holding the gains at higher zones.

India's hospitality sector attracts $93 million investment in H1 of 2024

Listed hotel companies lead hotel transactions in H1 2024

F&O Cues: Options data hint more gains for Nifty; 4 stocks see long buildup

Derivative market update for Monday, Sept 02: FIIs long-short ratio in index futures rose to 2.6:1, implying 5 longs for every 2 shorts. Bandhan Bank, Syngene and Granules India see long buildup.

InterGlobe opens boutique lifestyle hotel Miiro in Paris, Barcelona

InterGlobe Enterprises, the biggest shareholder of IndiGo airline, has opened its boutique lifestyle hotel Miiro in Paris and Barcelona and is looking to add more properties in Europe over the next couple of years, a top official said. Neena Gupta, CEO of Miiro, said Le Grand Hotel Carye in Paris opened in July and Borneta in Barcelona this month. The entry-level luxury lifestyle hotel brand will continue back-to-back launches into 2025 with London and Vienna. Templeton Garden in London, located in the leafy area of Earl's Court, will offer 156 rooms, complemented by a cafe-deli, a neighbourhood restaurant, a vibrant bar, and an outdoor F&B experience in an expansive garden oasis in the Spring of 2025, she said. The two hotels in Vienna, with their strategic location boasting over 200 rooms, will be the next destination for Miiro. With further openings planned for 2026, Miiro is poised to expand its footprint significantly. InterGlobe, which is the biggest shareholder in ...