Hotel Chains

Indian Hotels well poised to achieve vision of 300 hotels by 2025

India's largest hospitality company Indian Hotels Company Ltd on Monday said it is well poised to achieve its vision of 300 hotels by 2025, from the current portfolio of 260 hotels. Indian Hotels Company Ltd (IHCL) said it accelerated portfolio expansion in FY 2022-23 which ended in March, with the signing of 36 new hotels and the opening of 16 new hotels, in the past year. The current pipeline stands at 73 hotels. "With its current portfolio of 260 hotels, IHCL remains well poised to achieve its vision of 300 hotels by 2025," the company stated. According to IHCL, with eight new hotel signings, the iconic brand Taj is slated to reach the 100-hotel milestone from 98 hotels currently. Puneet Chhatwal, Managing Director & Chief Executive Officer, IHCL, stated, "IHCL has witnessed a tremendous year of growth with unprecedented momentum of portfolio expansion. We signed a record 36 hotels in this financial year taking our portfolio to 260 properties. "With this growth our managed ...

Hotels may hike corporate rates by 15% from January amid surge in demand

Most hotels are already commanding 15-20 per cent higher rates compared to 2019 for the non-contracted rooms

Mid-sized hotels on aggressive expansion drive as occupancy, rates zoom

Mid-sized hotels have an advantage of better penetration in the tier-2 and tier-3 markets

Reliance to buy control of New York's Mandarin Oriental hotel for $98 mn

Company says the acquisition will help the group increase its consumer and hospitality footprint.

Survival first, revival later: Hospitality industry's mantra for 2022

When the sun rises in 2022, the Indian hospitality industry will be waking up with prayers for survival, desperately looking forward to some form of support from the government as revival from the impact of the coronavirus pandemic of the last two years will be an arduous journey. Just as the industry was beginning to see a flickering light at the end of a long tunnel towards the end of 2021, the spread of the Omicron variant of coronavirus and subsequent extension of suspension of scheduled international passenger flights till January 31, 2022, has come as a dampener to those who were looking to have some business in the winter season. With inbound tourist arrivals unlikely amidst the pandemic, the industry wants the government to incentivise domestic travels with income tax benefits for a limited period so as to help the hospitality and tourism sector get up again by tapping the pent up demand for holidays, within the country. According to industry body Federation of Hotel & ...

Consumer court asks hotel to pay Rs 2 cr in damages to model for haircut

A bench of President RK Agrawal and Member Dr SM Kantikar directed the hotel to pay a compensation of Rs 2 crores to the woman.

Zostel claims win in 3-year legal battle against OYO, latter refutes

Zostel could get upwards of $600 million if arbitration goes through

Hospitality firms may go for fund raising to stay afloat as recovery eludes

EIH's successful rights issue to help firm reduce debt substantially, paves way for more companies to actively consider fund raising

Home-away-from-home model offers hotels a sliver of hope amid Covid crisis

IHCL plans three-fold increase for its homestay properties

Wedding bells to the rescue of five-star hotel chains amid pandemic

But the celebrations remain scaled down owing to pandemic-related restrictions

Hotel chains in India do their bit to fight coronavirus pandemic

In addition, IHCL is distributing meals cooked by the TajSats to colleges (Lady Hardinge Medical College, New Delhi) and seven hospitals in the National Capital Region

Kainaz Messman Harchandrai and the story of Theobroma's rapid growth

Kainaz Messman Harchandrai is turning Theobroma, her mother's beloved desserts business, into a national cake shop chain

Hotel stock investors fear June quarter due to coronavirus impact

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

OYO: Toxic culture, troubling incidents reported at SoftBank's India jewel

Oyo is part of a group of prominent start-ups that have sprinted to get as big as possible, fed by money from large investors such as the Japanese conglomerate SoftBank

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

Hotel chains face valuation gaps in acquiring assets in Indian markets

In order to tap the burgeoning demand and plug the gap between supply and demand, hospitality firms are preferring buyouts over building greenfield projects

Global hotel chains push into mid-market space outside India's metros

Accor, Marriott and Hyatt are the contenders

Indian chains lose out in hospitality battle

Marriott-Starwood, Carlson Rezidor and others are winning the tug-of-war for customers with local hotel chains as they add new properties at a breakneck speed

Hotel chains seek bigger share of online bookings

Share of online hotel bookings in the country is estimated to have more than doubled to 15% in 2015, from 6% in 2014