Hotel Business

Cleartrip says aiming for growth in flight tickets, hotels business in 2023

The improved performance will be led by revenue growth, expansion in business-to-business (B2B) category and lower marketing spends

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

Hotels and restaurants can't levy service charge by default, says CCPA

The hotels have to clearly inform the consumer that paying the service charge is at the consumer's discretion, the CCPA said

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

IHCL looks to build portfolio of 300hotels, scale up new business

The Indian Hotels Company (IHCL) is eyeing to build a portfolio of 300 hotels and strengthen and scale up new businesses, including Qmin, 7Rivers, ama Stays & Trails, under its Ahvaan 2025. We have signed over 100 hotels and opened over 40 hotels in the past five years, becoming the fastest growing hospitality company in India. Ahvaan 2025 will further accelerate our profitable growth by scaling our diversified brand portfolio across traditional and new businesses," IHCL Managing Director and Chief Executive Officer Puneet Chhatwal told reporters on Monday. IHCL aims to build a portfolio of 300 hotels, clocking 33 per cent EBITDA margin, of which 35 per cent EBITDA share contribution is expected to come from new businesses and management fees by 2025-26, he said. The hospitality company is also focused to strengthen the balance sheet with focus on free cash flows and be a zero net debt company, he said. Chhatwal said Ginger will be an important growth vehicle and will scale to 125

As Sri Lanka battles economic crisis, Indians rethink travel plan

Travel firms and hotels say they have not recorded cancellations, but the island declaring a national emergency is worrying for business.

Holidaying abroad or dining out? Expect to shell out more this summer

A steep rise in the cost of services and consumables is prompting those in the restaurant, travel, and hotel business to revise their rate cards by 10-20% in the coming weeks

With at least 12 mega-projects, Hilton eyes the big box in India

After two failed partnerships, the 102-year-old international hospitality chain hopes to expand its presence in the country

NDMC show-cause notice to Le Meridien Hotel for continuing trade activity

The New Delhi Municipal Council has issued a show-cause notice to the Le Meridien Hotel for allegedly operating restaurants, lodging house and other licensable trade activities

A fourth of rooms at risk if Budget doesn't help sector: Hotel bodies

Urge infra status for hotels worth over Rs 25 crore, lower GST and income tax rates

Our focus is to make an IPO-ready company, says OYO chief Ritesh Agarwal

'We'll look at various things like the market situation, opportunities outside, and so on, and the board will consider and then potentially advise on the timeline,' Agarwal said

ITC weighs 'alternate structure' for hotels business for value creation

Puri also said that there were many smaller pieces in the portfolio that required support from institutional strengths, and that's why they structured the way they were

Hotel stock investors fear June quarter due to coronavirus impact

Hotel stocks are likely to remain under pressure until the situation comes under control

Sidestepping growth slowdown: Upscale business hotels see surge in bookings

However, according to industry estimates, there is a shortage of close to 100,000 rooms across different categories

Mahindra Group to check into upscale hotel segment to tap burgeoning demand

Sources said that the proposed diversification from 'vacation ownership' through its Club Mahindra brand will put the firm on a similar turf as that of the Tata Group's Indian Hotels

GST council meet: Hotel owners and operators cheer tax reduction

Removal of compensation cess on all manufacturers of aerated drinks brought some breather for beverage majors

Tycoons rushing to check into hotels: Mittal, Ambani may diversify holdings

The Piramals have provided structured finance to many real estate developers that are putting up hotels and their typical exit route is through refinancing within 5 yrs