Page 2 - Hospitality Industry

Hotel stocks order room service: See strong Q1, a stronger outlook

Inbound tourism, higher occupancies, and lean cost model are positives for listed hospitality majors

ITC scouts alternate structures for hotel biz; stock up 50% so far in 2022

According to reports, ITC Hotels could soon be a separately listed entity, carved out of the parent cigarette-to-branded packaged food conglomerate.

Flipkart forays into hospitality sector, launches hotel booking feature

Backed by Cleartrip's API, Flipkart Hotels will benefit from Cleartrip's deep understanding of travel customers and sectors

Temp staff hiring to rise as consumers return to stores in festive season

During the festive season, more than 500,000 short-term jobs are expected to be created

After decades of closure, ITC readies Nedou's hotel for launch in Srinagar

Nedou's have been the pioneers of the hospitality sector in Kashmir. They ran two properties in the Valley, one in Srinagar and the other in the Gulmarg ski resort

Covid pandemic-induced income blues not yet over for seven states/UTs

Residents of 6 states and a Union Territory are yet to recover from the Covid-19 pandemic-induced income shock, data compiled by the National Statistical Office for 21 states and UTs for FY22 shocks.

Govt nods enhancing ECLGS limit to Rs 5 trn for hospitality, allied sectors

Union Cabinet has approved the enhancement in the limit of Emergency Credit Line Guarantee Scheme by Rs 50,000 crore Rs 5 Lakh crore, with the additional amount being earmarked entities in hospitality

Salaries of top managers rise as occupancy in hospitality sector improves

The remuneration of directors of hotel companies, like IHCL and EIH Ltd, has seen a rise between 8 and 250 per cent in FY22 year-on-year (YoY)

Indian Hotels posts consolidated PAT of Rs 170 cr in Q1 amid rise in demand

The company's revenue surged by 249.45 per cent to Rs 1,293 crore during the quarter under review, compared to Rs 370 crore in the year-ago period.

Barbeque-Nation Hospitality Q1 profit at Rs 16 cr; revenue soars three-fold

The company had clocked a net loss Rs 43.85 crore in the April-June period a year ago, Barbeque-Nation Hospitality said in a regulatory filing.

Hotels, restaurants workers demand pay hike after service charge ban

Industry experts say that while restaurants will increase the food prices there is no certainty on it going to staff as it will be a part of the owner's revenue

India's restaurants slam new rules against compulsory service charge

Restaurants say they already explicitly mention the charge in notices at the gate and on the menus, and if someone chooses to use their services, they are bound to pay it

Hotel industry sees growth as daily room rates, occupancies over 2019 level

Mumbai hotels recorded an occupancy rate of 80 per cent in May 2022, which was followed Pune and Bengaluru, consulting firm HVS Anarock said

No experience, no resume and you're hired! Hotels fight for staff

Europe's largest hotelier Accor is running trial initiatives to recruit people who haven't previously worked in the industry

Suba Group signs master franchise deal with NYSE-listed Hotels

Suba Group to oversee 58 existing and upcoming Choice properties in India; move follows closure by American hospitality chain of its Indian arm

Hospitality industry outlook looks quite strong: Chandrasekaran at IHCL AGM

The hospitality industry is expected to do well going forward barring unforseen situations, and occupancy of Indian Hotels Company Ltd is expected to rise, company's chairman N Chandrasekaran said

Mumbai boosts hospital capacity as Covid cases rise, bed occupancy doubles

Around 10 out of every 1,000 beds are already occupied by Covid-19 patients, up from 4 a week ago

Hospitality sector in sweet spot but revenue boost eludes five key players

Lower costs, improving occupancies as well as room rents augur well

Street looking beyond Apollo Hospitals' disappointing Q4 performance

Based on sum-of-the-parts valuation, some analysts have pegged their target price between Rs 4,900-5,000

OYO completes acquisition of Europe-based Direct Booker for $5.5 mn

OYO acquire Europe-based Direct Booker. OYO has in the recent past declared its intent of actively scouting for 'tuck-in' acquisitions, especially in the European market as a strategic growth lever