Page 2 - Tourism Industry

TBO Tek Q4 result: 64% jump in PAT to Rs 46 crore, revenue up 31%

Travel distribution firm TBO Tek Ltd on Thursday said its profit after tax (PAT) rose by 64 per cent to Rs 46 crore in the quarter ended March 2024 from Rs 28 crore in the corresponding quarter of the previous year. The revenue during the reporting quarter jumped 31 per cent to Rs 369 crore crore compared to the year-ago period. For FY 2023-24, the PAT stood at Rs 201 crore, up 31 per cent over FY23 while the revenue was recorded at Rs 1,393-crore, an increase of 35 per cent over the financial year ended March 2023, the company said. "FY 24 was a landmark year for TBO. Following our successful IPO, we have recorded another year of remarkable growth, with revenue soaring to Rs 1,393-crore, showcasing 31 per cent increase with adjusted EBITDA at Rs 270-crore," said Gaurav Bhatnagar, co-founder and Joint MD, TBO Tek Limited. The gross transaction value during FY24 surged to Rs 26,536-crore, marking a 19 per cent year-over-year growth, he added. "Our acquisition of Jumbonline has alre

Infra, connectivity should be main focus: Himachal tourism stakeholders

Irrespective of which party forms the next government, infrastructure development and fixing connectivity issues should be the main focus in Himachal Pradesh, stakeholders of the state's tourism industry said. The state and central government should complete projects on proposed airport constructions, improve rail connectivity and build facilities along the highways for tourists, they said. "We are businessmen and do not wish to face the ire of any political party. Single engine or double engine, the government should work for development," said Nishant Nag, the owner of a hotel and amusement park in Shimla. The tourism economy of Himachal Pradesh accounted for seven per cent of state GDP amounting to Rs 14,000 crore, and generates 14.2 per cent direct and indirect employment, as per the latest economic survey. Candidates of both BJP and Congress contesting the Lok Sabha elections from Shimla, Mandi and Kangra seats have mentioned promotion of tourism and better connectivity as the

Why has Japan blocked the iconic view of Mount Fuji? All you need to know

The plan garnered headlines in April when officials, frustrated by the constant influx of mainly foreign visitors littering, trespassing, and breaking traffic rules, announced it

Raj govt to hold tourism festival 'Great Indian Travel Bazaar' from May 5-7

The state government plans to showcase its tourism infrastructure during the event.

Add colour to tourism via Holi events: Trade body to Rajasthan govt

If Holi events were organised properly at 50 destinations, more than 10 million people from outside could visit Rajasthan within five years, says a travel agent

Maldives to conduct road shows across Indian cities to woo tourists back

In an apparent bid to woo Indian tourists back to the Maldives, a major tourism body here has announced that it will hold road shows across key Indian cities. As the number of Indian tourists to the Maldives continues to decline, the Maldives Association of Travel Agents and Tour Operators (MATATO) held discussions with India's High Commissioner here, Munu Mahawar, on enhancing travel and tourism cooperation between the two countries. A full-blown backlash was directed at the Maldives following derogatory remarks against India and Prime Minister Narendra Modi on social media by three Maldivian officials after Modi posted photos and video of the pristine Lakshadweep Islands on India's west coast on January 6 on his X handle. Scores of Indians, including multiple celebrities, cancelled their reservations and dropped plans to visit Maldives. The tourism arrival statistics reflected how from being a top visitor country, India's position went down to first fifth and now at the sixth ...

Thomas Cook launches 'helicopter darshan' to Adi Kailash, Om Parvat

Targeting the surge in demand for spiritual tourism, Thomas Cook India and its group firm SOTC Travel have partnered with the Uttarakhand Tourism Development Board to offer aerial darshans to Adi Kailash and Om Parvat, the company announced on Wednesday. The five-day spiritual tour has been launched at a price of Rs 90,000 per person -- subsidized by the Uttarakhand Tourism Development Board. The base camp for the tour will be Pithoragarh, in Uttarakhand. The darshans will start from the second day onwards. On the day-2 of the trip Manokamna temple darshan will be organised and on day-3 onwards there will be Adi Kailash & Om Parvat darshan. Each batch of the five-day spiritual tour will consist of 14 persons. Thomas Cook and SOTC's data indicates a significant demand of 100 per cent YoY for Spiritual Tourism. The tour includes two helicopter darshans to Adi Kailash and Om Parvat, an ATV (All-Terrain Vehicle) for journey to the Parvati Sarovar temple and all meals (vegetarian), ...

Long Weekend: Airfares, hotel rates shoot up ahead of Holi, Good Friday

The Indian tourism industry is witnessing a sustained boom on the back of what industry stakeholders call a mindset shift, where people are using every opportunity to travel

Airlines expected to report lower loss of Rs 3,000-4,000 cr: Report

Airlines are projected to report a lower net loss of Rs 3,000 to 4,000 crore in the current as well as next financial years, helped by healthy passenger traffic growth and pricing discipline, a report said on Monday. For February, credit rating agency Icra in its report said domestic air passenger traffic was estimated at around 127.5 lakh. The aviation sector has also been grappling with supply chain challenges and issues related to Pratt & Whitney (P&W) engines. IndiGo grounded more than 70 planes due to P&W engine problems. "It is estimated that 24-26 per cent of the total fleet of Indian airlines in operations will be grounded by March 31, 2024. Considering the bulk recall of the engines globally by P&W and other existing issues with the OEM's engines, the testing by P&W is likely to take longer at 250-300 days," the report said. Meanwhile, it said the pace of recovery in industry earnings is likely to be gradual owing to the high fixed-cost nature of the ...

Bangaram, Thinnakara islands becoming tourism hotspots in Lakshadweep

When the fishing boat carrying tourists wades through the turquoise blue waters, as it approaches the Bangaram island, one could clearly see the coral reefs and flashes of multiple colors inside those natural structures. You can spot large sea turtles and various fishes running away from the sound of the boat's propeller. There is no need to question why Bangaram and its nearby Thinnakara island are considered the hot spot of tourism activity in Lakshadweep. Prime Minister Narendra Modi's photographs during his visit and stay at Bangaram, taken on a newly formed sand bank there has made the place even more popular. The Lakshadweep administration is operating a five star resort on this uninhabited island and there is nothing else, not even a shop or people who are outsiders. Occasionally tourists who are staying in Agatti, come to take a stroll on the resort property and go back and the guests staying there return to their tranquility, with no outside noises but just the humming of

Budget 2024: Sitharaman bats for developing iconic tourist destinations

The finance minister announced that long-term interest-free loans will be provided to states for financing the development of iconic tourist centres

National Tourism Day 2024: History, importance, theme and quotes of the day

National Tourism Day is celebrated to enhance awareness among the worldwide community on the significance of tourism. India offers many types of tourism like cultural, natural, and others

MakeMyTrip logs highest-ever quarterly gross bookings at $2.08 billion

The online travel services platform delivered its highest-ever quarterly gross bookings during Q3 FY24

US eyes more Indian tourists in coming yrs, number expected to rise to 2mn

The NTTO expects visitors from India to go up to 2 million by 2027

Goa govt introduces regenerative tourism to focus on 11 spiritual sites

The Goa government has introduced the concept of regenerative tourism, which will revolve around 11 places of worship in the coastal state. Talking to PTI on Saturday, state Tourism Minister Rohan Khaunte said the concept of regenerative tourism will redefine the approach towards travel and tourism. Our model of regenerative tourism will revolve around eleven spiritual sites or Ekadasha Teertha, he said. By involving local communities, especially women and youth, in exploring, understanding, and projecting their culture, cuisine, and lifestyle, Goa tourism aims to harness the commercial and economic potential of their history and heritage, the minister said. Regenerative tourism isn't a luxury but a necessity, a transformative approach that transcends the limitations of traditional tourism models, he said. This type of tourism isn't just about safeguarding the environment; it is about fostering a deeper connection between travellers and the places they visit, he said. It encourag

India-Maldives spat: Foreign tourists, locals vouch for Indian destinations

Amid the ongoing rift between India and the Maldives, the foreign visitors here shared the experiences of their visits to various Indian states and lauded Indian tradition, culture and colour

Airbnb, U'khand Tourism sign initial pact to enhance hospitality standards

Airbnb on Thursday said it has inked an agreement with the Uttarakhand Tourism Development Board (UTDB) to build host capacity in lesser-explored destinations. Under the Memorandum of Understanding (MoU), Airbnb will undertake capacity building activities in the selected pilot locations to enhance local hospitality standards, the company said in a statement. This partnership will focus on onboarding homestays onto the Airbnb platform. "This partnership with Airbnb will further expand our efforts to promote homestay culture in our state. "Individuals in the tourism sector will receive training on responsible hosting which will unlock their potential to attract guests from India and abroad. Through this partnership, we're confident the travellers will be presented with enriching, immersive experiences," Uttarakhand Tourism Secretary and UTDB CEO Sachin Kurve said. Airbnb will conduct workshops in the identified pilot destinations to train 'model hosts', will conduct a thorough revie

Various initiatives taken to boost tourism in Andaman & Nicobar: Chief secy

The Andaman and Nicobar administration has taken numerous initiatives to attract more tourists to the archipelago, including granting access to uninhabited islands, allowing beaches to remain open till late night and reaching out to more airline operators, a top official said. Speaking to PTI, Chief Secretary Keshav Chandra said that there will also be eco-friendly tourism infrastructure in four islands and 11 tourist sites. "The administration has taken various initiatives towards promotion of tourism... like development of a five-star property at Megapode in Port Blair in PPP mode, leasing out land at Radha Nagar Beach in Swaraj Dweep (Havelock Island)," he said. "Beaches are now being opened during late night hours for tourists to enjoy the heavenly sight of the landscape as well as the bio-luminescence. Efforts are being made to reach out to more airline operators that will lead to competitive and affordable pricing of tickets for tourists," he added. The administration is also

Chinese arrivals in Maldives rose to third spot in 2023, shows data

In CY 2023, Chinese footfall jump­ed to the third spot. They are very close to the numbers from India and Russia and may soon soar to the number 1 spot

Airport to new resorts, Lakshadweep tourism is in for an upgrade: Details

Lakshadweep tourism: Some of the key infrastructure development projects lined up in Lakshadweep include an airport upgrade, resorts, and improved utility services among others