Page 4 - Hospitality Industry

After brisk December, hotels face biz loss as Omicron drives cancellations

Large-scale weddings and corporate events in Jan called off or postponed; banquet-driven hotel chains most impacted with some seeing cancellations running into lakhs in a single day

TMS Ep73: Hospitality sector, CP Gurnani, RBL Bank, Vaccine IP waiver

Will Omicron affect the recovery of the hospitality sector? What's CP Gurnani's plan for TechM? Should you be caution about RBL Bank stock? What's hindering Covid-vaccine IP waiver? All answers here

How may Omicron affect the recovery of the hospitality sector?

The world is ringing in New Year amid rising Covid infection. And so is the hospitality industry, which was hoping to recover losses with year-end revelry. Let's look at what it means for the sector

Hospitality industry body urges Sebi again to suspend OYO's IPO process

Hospitality industry body FHRAI on Thursday again requested market regulator Sebi to suspend OYO's IPO process, citing non-disclosure of an investigation against the hotel chain for tax evasion, an allegation which the company has strongly denied. In a letter to the chairman of Securities and Exchange Board of India, Federation of Hotel & Restaurant Associations of India (FHRAI) Secretary-General Jaison Chacko said, "Oyo has failed to meet such threshold of disclosure to merit an approval from Sebi for an initial public offering (IPO)". Earlier in October, FHRAI had urged Sebi to suspend OYO's IPO process, drawing attention to irregularities, such as being engaged in anti-competitive business practice and inadequate disclosures of critical court cases, among others, in its draft red herring prospectus (DRHP). OYO had, however, strongly refuted it, terming FHRAI's allegations as "ill-informed, manufactured and baseless lies". In its latest letter to Sebi, FHRAI claimed that the ...

Plaza Premium Group selects TCS to transform airport hospitality experience

The long-term partnership focuses on reimagining the end-to-end airport travel experience across three core areas: customer experience, employee experience and operational excellence

EIH reports consolidated net loss of Rs 37.46 crore for Sept quarter

The hospitality firm on Friday reported a consolidated net loss

Hiring demand up 9% YoY in Oct, dips sequentially: Monster Employment Index

Hiring in hospitality and travel roles saw the highest month-on-month growth, indicating overall promising recovery for the sector

These goldsmith-techies use dynamic pricing to help businesses max revenues

Anshu Jalora and Vijeta Soni's firm Sciative uses AI, automation and big data to set movie ticket prices, and bus and airline fares, based on the demand curve for these services and products

Indian Hotels' net loss narrows to Rs 130 cr in Q2 on strong recovery

To raise Rs 4000 cr via Rights Issue and QIP

Chennai travel market on recovery track; 70% people keen to travel: Report

In addition to its holiday business, Thomas Cook India has observed increased uptick from the wedding and honeymoon segment

Ibis to invest over Rs 500 cr to add 685 keys across 4 hotels by FY24

Ibis, which last week opened its 20th property in the country at Vikroli in Mumbai offering 249 keys making it the largest, operates 3,808 rooms across 20 properties in 13 cities

Millennials are becoming largest consumer group for hotels: Descrozaille

Accor India COO says the firm has 17 new projects in the pipeline with three hotels opening this year

Hotel industry likely to clock 45-50% of pre-Covid revenues in FY22: Report

Demand has recovered sharply post the second wave of the pandemic aided by easing of restrictions during the July-September period, according to a report.

Places with better healthcare infrastructure will attract more tourists: PM

Tourists will feel safer at places where more people have been vaccinated against the viral disease, Modi said

Siliguri-based hotelier moves SC against Oyo for unfair practices

In July, the NCLAT closed insolvency proceedings against Oyo and one of its subsidiaries, and also disallowed the intervention of external parties

Microsoft, OYO in alliance to co-develop travel, hospitality products

Microsoft and hospitality firm OYO have entered a multi-year strategic alliance to co-develop next-gen travel and hospitality products and technologies, the companies said on Thursday. "OYO will adopt Microsoft Azure as a key enabler to drive cloud-based innovations and reimagine the hospitality and travel tech industry. The solutions will be geared to benefit patrons who operate the small and medium hotel and home storefronts," the companies said in a joint statement. Microsoft has also made a strategic equity investment in OYO, it added. Earlier in August, in an RoC filing, OYO had said that Microsoft Corporation has invested nearly USD 5 million (about Rs 37 crore) in OYO through the issuance of equity shares and compulsory convertible cumulative preference shares on a private placement basis. "We are excited to join hands with Microsoft in our constant endeavor to improve business opportunities for the small and independent hotel and homeowners, and to redefine experiences for

After a subdued Q1, hotels seeing sharp month-on-month recovery

But that's only when one takes into account the year-on-year performance. The first quarter of last year was a washout for the sector due to the nationwide lockdown

Tourism Min signs pact with MakeMyTrip, Ibibo to boost hospitality industry

The Ministry of Tourism has signed a MoU with MakeMyTrip (India) Private Limited and Ibibo Group Private Limited as part of its ongoing efforts to strengthen the hospitality and tourism industry

ITC adopting disruptive business models as part of strategy reset, says MD

About the FMCG business, Sanjiv Puri said ITC is focusing to build a formidable business at scale and several of its brands have already achieved leadership positions

Asset-right strategy to drive ITC's game-plan for hotels post Covid: MD

Sanjiv Puri said an extensive strategy reset has been undertaken to architect the structural drivers that will power ITC's next horizon of growth