Page 2 - Hotel Industry

NRAI says no illegality in levying service charge by restaurants

Ahead of its June 2 meeting with govt, the top hotel industry body said that the levy of service charge is a matter of individual policy to decide if it is to be charged or not.

Chalet Hotels consolidated net loss narrows to Rs 11.45 crore in Q4

The company had posted a consolidated net loss of Rs 5.98 crore in the same quarter of the preceding fiscal

Hotels ask govt to restore insurance premium rates to 2018-19 level

HAI claimed that the increased premium rates put all hotels at par and do not differentiate between the quality of risk undertaken

Hotel Association of India urges govt to bring down insurance premiums

The hotel association alleged that insurance companies are not allowed to quote different rates to hotel properties based on the risk category of the insured, thereby putting all the hotels at par

Domestic hotel industry to return to pre-Covid level this fiscal: Report

According to its report, the hotel industry is expected to clock 60 per cent of pre-COVID revenues in FY22, despite almost four months of impact because of COVID 2.0 and COVID 3.0

Hospitality sector rings in FY23 on positive note amid broad-based recovery

Business hotels, which saw a delayed recovery, are back stronger and sooner as big ticket conferences and meetings have resumed in a big way, said hotel industry executives

Hotel industry expects traction in occupancy, room rates in 2022: Study

The hotel industry in the country which bore the brunt during the COVID-19 pandemic is on the path of recovery with higher occupancy, increased average room rates (ARR) and spurt in merger and acquisition deals, a study said on Wednesday. Domestic leisure travel is the driving force behind the road to recovery coupled with an increase in business travel, and with most organisations gradually resuming to a full or hybrid work-from-office model, it said. In 2021, the occupancy was 42-45 per cent and the average room rate was Rs 4,300-4,600 which was higher than 2020 but less by 25-28 per cent compared to 2019 levels, it said. We expect India-wide occupancy to improve to 66 per cent in 2022, along with a 28 per cent increase in ARR during the year. We expect occupancy & average room rates to return to pre-pandemic levels by the end of CY22 (calendar year) and by mid-CY23, respectively, HVS ANAROCK president (South Asia) Mandeep Singh Lamba said in the report. The year 2022 started .

How India's recovery is shaping up as states relax restrictions?

Restaurants are again teeming with diners, airports with fliers and markets with life. People are now stepping out and loosening their purse strings. How is India's economic recovery shaping up now?

Indian Hotels checks in with strong growth in Q3, stock up 17% since Jan

Company's metrics are strong but investors should track consistency on demand, room rates and occupancy.

Hotels clock 100% YoY growth in RevPar in last qtr of Calendar 2021: JLL

Indian hospitality industry is currently on a positive upward trajectory with traveller confidence backed by improved vaccination rates, and ease of travel restrictions, says JLL paper

Covid third wave to have benign impact on hotels industry: Ind-Ra

Covid-19's third wave is expected to have a benign impact on the hotel industry due to lesser restrictions along with the sector's pro-active preparation, said India Ratings and Research (Ind-Ra).

Hospitality body says new Maharashtra Covid rules to hurt hotels, eateries

Urges state to allow operations till 11 p.m. at least as against 10 p.m. currently

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.

Hyatt Hotels charts plan to increase India footprint by 70% in two years

Aims to add 3,800 keys by 2023-end

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

Underperforming hotels going dirt cheap but buyers lack appetite

20-25% of 150,000 branded hotels risk permanent closure; May room tariffs down 16-18% on average; occupancy drops to 18-20%, revenue per room down by 49-51%

Mumbai's Chalet hotels scouting for distressed assets as Covid curbs ease

'We've had a rough five quarters now since March of 2020,' says company's CEO Sanjay Sethi.

Covid-19 pandemic: Hotels can't offer vaccine package, says Centre

Necessary legal and administrative actions should be initiated against institutions which are giving package for Covid vaccination in collaboration with hotels, Additional Secretary to Health Min said

Hotel industry body makes a plea to PM Modi for relief from pandemic

The top association in the sector outlines a five-point relief package

Hotel industry says it lost Rs 1.3 trillion revenue in FY21, seeks help

The Indian hotel industry has taken a hit of over Rs 1.30 lakh crore in revenue for the fiscal year 2020-21 due to the impact of the COVID-19 pandemic, the Federation of Hotel & Restaurant Associations of India (FHRAI) said on Sunday. The apex industry body said it has submitted representation to the Prime Minister and a few other union ministers urging immediate support from the government to save the hospitality sector from imminent collapse and has requested for several fiscal measures for this. "The Indian hotel industry's total revenue in FY2019-20 stood at Rs 1.82 lakh crore. As per our estimates, in FY2020-21, approximately 75 per cent of the industry's revenues got wiped off. That is more than Rs 1.30 lakh crore revenue hit," the FHRAI said in a statement. The businesses are steadily closing and non-performing assets (NPAs) are rising, it added. Since March 2020, the industry has been struggling to manage its statutory and capital expenditure obligations. Repayment of ...