Hospitality Sector

OYO asks govt to probe FHRAI's 'illegally-run' executive committee

Claims committee's actions hurting small hotel owners; constant friction with organised players discouraging SMEs and entrepreneurs from moving ahead with the times and with technology

Budget 2023: FHRAI pitches for infrastructure status to hospitality sector

The hospitality sector needs to be accorded infrastructure status by the Centre to help it avail long-term funds under the RBI infrastructure lending norm criteria, according to Federation of Hotel & Restaurant Associations of India. In its pre-Budget demand, the Federation of Hotel & Restaurant Associations of India (FHRAI) said although industry status has been accorded to tourism and hospitality by many state governments, the incentives and privileges associated with an industry have not been conferred to the sector. "The industry needs infrastructure status to be accorded by Government of India to enable the hospitality sector avail long-term funds under the RBI Infrastructure lending norm criteria," FHRAI Secretary General Jaison Chacko said in a statement. This will enhance quality accommodation supply and therefore, stimulate higher global and domestic travel demand, he added. Chacko further said tourism and hospitality should be placed on the concurrent list of the ...

From packaged food to hotel menus: ITC goes gung ho on millets

ITC is also developing a comprehensive millets-based portfolio under popular brand names and in familiar formats for easier adoption

Hotels, resorts sold out on high demand for Christmas-New Year celebrations

The domestic hospitality industry is gearing up to make the most of full-fledged Christmas and New Year celebrations this time around after two years of washout by the pandemic, with rooms at many hotels and resorts already sold out. As people seek to make up for the winter holidays lost to COVID-19, destinations like Karjat, Lonavala, Vizag, Dharamshala, Udaipur, Manali and Gir are witnessing good demand, apart from traditional popular places like Goa, Kerala and Shimla. "The year-end festive season looks very positive and this year appears to be one of the best years so far for the hospitality sector," Apeejay Surrendra Park Hotels Ltd Managing Director, Vijay Dewan told PTI in an e-mailed response. He further said, "All our hotels are gearing up for sold out spaces along with high occupancy in rooms. This year we have lined up some great events during Christmas and New Year's which the guests missed out during the last 2 years due to the pandemic." Mahindra Holidays & Resorts ..

Hospitality industry sees welcome boost from India's G20 presidency

As President, India will host nearly 200 meetings across the country that thousands of delegates are expected to attend along with media, govt officials, event managers, private sector representatives

Hospitality sector's per-room revenue grew 89.6% YoY in Q3: JLL report

Room demand across business cities remained strong during the quarter, primarily driven by MICE and other business-related travel

Penalties on OYO, MakeMyTrip, GoIbibo big win for hospitality sector: FHRAI

With the penalties of Rs 223.48 crores and Rs 168.88 crores on MMT-Go and OYO for anti-competitive conduct, the FHRAI described it as "one of the biggest wins for the hospitality industry"

New Covid strains, seasonal ailments may spike hospitalisation in winter

13 XBB variants detected in Maharashtra are all under home-isolation; the strain spreads rapidly and is said to be behind the recent spike in Singapore

With new hotel brands, ITC checks in with 'house of brands' model

ITC has launched two brands - Storii, in the boutique premium segment, offering immersive experiences, and Mementos, a collection of unique luxury properties across destinations

Flipkart launches Flipkart Hotels for domestic, international market

Flipkart Hotels will provide customers with the opportunity to book hotel rooms across 300,000 domestic and international hotels

Top headlines:Airtel makes Rs 8k-cr spectrum payment; ECLGS corpus enhanced

New entrant Akasa Air is financially strong enough to place an aircraft order in the 18 next months that will be significantly larger than its first, its founder and CEO Vinay Dube said on Wednesday

Union Cabinet enhances ECLGS corpus by Rs 50,000 crore to Rs 5 trn

The Union Cabinet on Wednesday approved raising the outlay of the Emergency Credit Line Guarantee Scheme (ECGLS) by Rs 50,000 crore to Rs 5 lakh crore and the additional amount will be earmarked for enterprises in the hospitality and related sectors. In the 2022-23 Union Budget, there was a proposal for raising the limit of ECLGS from Rs 4.5 lakh to Rs 5 lakh crore to help hospitality sector hit by the coronavirus pandemic. The hike in the amount has been made on account of the severe disruptions caused by the pandemic in the hospitality and related sectors, Information and Broadcasting Minister Anurag Singh Thakur said while briefing the media on various decision taken by the Cabinet. He said that loans worth around Rs 3.67 lakh crore have been sanctioned under ECLGS till August 5, 2022.

Coffee Day Enterprises Q1 net loss narrows to Rs 18 cr; revenue up two-fold

Revenue from coffee, related business in April-June period of FY23 came in at Rs 189.63 cr as against Rs 67.16 cr earlier. Revenue from hospitality services stood at Rs 14.32 cr as against Rs 2.40 cr

Best yet to come for hospitality sector: IHCL CEO Puneet Chhatwal

The Tata Group's hospitality arm reported a record quarterly performance for the June quarter as all-round growth helped the firm surpass the 2019-20 operational performance

Sold out: Hospitality firms set to cash in on upcoming long weekend

With fears regarding the pandemic largely abating, vacationers are flocking to popular destinations

Withdrawal of excise policy: Too early to gauge impact, say restaurateurs

Delhi-based restaurateurs on Saturday said it was too early to gauge the impact on the hospitality industry after the city government's announcement to withdraw its new excise policy 2021-22

How to plan a holiday trip? Here's what you need to know before travelling

Planning a vacation? It is a must to carry copies of documents like your passport, IDs, Aadhaar, PAN, etc. Try to choose the best hotel in your travel destination that suits your budget.

Sebi to auction properties of Royal Twinkle, Citrus Check Inns on July 15

Capital markets regulator Sebi on Friday said it has lined up as many as 39 properties of Royal Twinkle Star Club Pvt Ltd and Citrus Check Inns Ltd for an auction on July 15 at a reserve price of Rs 66.51 crore. The move is part of Sebi's effort to recover funds worth thousands of crores of rupees raised by the companies. In a notice, the Securities and Exchange Board of India (Sebi) said the auction will be conducted between 11 am to 1 pm on July 15, 2022. The properties to go under the hammer include office premises, residential flats, land parcel, shops, land & buildings located in Gujarat, Maharashtra, Goa, Daman, and Dadra and Nagar Haveli. From November 2019 to March 2022, more than 266 properties were auctioned at a reserve price of Rs 1,297 crore. The move came after a Supreme Court order in December 2019, which directed the sale-cum-monitoring committee, headed by retired Justice J P Devdhar, to proceed with the sale of 114 properties of the companies within six ...

Hospitality deals pick up after a lull as HNIs, family offices check in

Family offices, high net-worth individuals and institutional investors are looking at the sector, say advisory firms

Can rising Covid cases thwart contact-sensitive sectors' recovery?

The economy is recovering from lockdowns, but the recent uptick in Covid-cases across the country is worrying the industry again. Here's a report on the outlook for the contact-sensitive sector