Hotel Sector

Hotel biz to rise 23% in FY22 over pre-Covid period: CRISIL Ratings

The Indian hotel industry is likely to witness 23 per cent growth in revenue this fiscal over the pre-pandemic level, driven by a strong recovery in business travel and continued traction in leisure travel, according to a report. Higher average room rates (ARRs) and occupancy will help the hotel industry log a strong improvement in profitability to around 34 per cent this fiscal compared to 24 per cent in the pre-pandemic period (fiscal 2020), Crisil Ratings said in a report. Revenue, on its part, will increase 23 per cent over the pre-pandemic level, riding on a strong recovery in business travel and continued traction in leisure travel, it added. "Leisure travel had gained traction post the Delta wave last fiscal, while business travel has started picking up steadily after a much milder Omicron wave in January 2022. This has been fuelling demand in the MICE (meetings, incentives, conventions and events) segment," Crisil Ratings Senior Director Mohit Makhija said. Crisil Ratings .

Luxury hotel rates in India lag other markets, says Accor's Mark Willis

India still needs to catch up with other markets in terms of the rates the hotels command. He also touches upon the expansion plans

OYO elevates two senior execs in service experience and revenue functions

The firm recently had also revamped its flagship patron-facing app, CO-OYO, allowing users to now run their own promotional offers ahead of the peak festive travel season this year

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

London flight, hotel fares surge ahead of Queen's funeral

Average rate for a hotel up to $384 from $244 per night; high-end hotels sold out for Sunday night; average prices for a return flight from US over $950

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

Flipkart launches hotel-booking service, sees travel industry gaining

Flipkart Hotels will provide room bookings at 3 lakh domestic and international hotels. It will offer customers services like flexible travel and booking-related policies, and easy EMI options

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

Salaries of top managers rise as occupancy in hospitality sector improves

The remuneration of directors of hotel companies, like IHCL and EIH Ltd, has seen a rise between 8 and 250 per cent in FY22 year-on-year (YoY)

Delhi HC stays CCPA norms, says paying service charge a matter of choice

No such charge on takeaway orders: Court

IHCL's Ginger brand continues expansion, on track to scale up to 125 hotels

IHCL has traditional hotel brands like Taj, Vivanta, SeleQtions, and new-age ones like Ginger and Ama

Hotel industry sees growth as daily room rates, occupancies over 2019 level

Mumbai hotels recorded an occupancy rate of 80 per cent in May 2022, which was followed Pune and Bengaluru, consulting firm HVS Anarock said

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

IHCL signs a new SeleQtions Hotel deal in Udaipur city of Rajasthan

The IHCL, announced the signing of a new SeleQtions hotel in Udaipur, Rajasthan. The hotel is managed by Lalit Bagh Heritage Palace and Museum Private Limited.

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

Fortune Park Hotels to add five hotels in India by December 2022

These five hotels will be -- Fortune Resort Benaulim Goa, Fortune Park in Hoshiarpur (Punjab), Fortune Park in Tirupur (Tamil Nadu), Fortune Select in Goa and a Fortune Inn in Haldwani (Uttarakhand)

Indian Hotels' iconic Taj named strongest hotel brand in the world

Indian Hotels Company (IHCL), South Asia's largest hospitality company, announced that its iconic brand, Taj, has been rated the Strongest Hotel Brand in the World by Brand Finance, the world's leading brand valuation consultancy in its annual 'Hotels 50 2021' report.This report recognizes the most valuable and strongest hotel brands across the globe."This is a proud moment for the Indian hospitality industry on the global stage. Taj being rated as the World's Strongest Hotel Brand is a testament to the unwavering trust our guests have consistently placed in us and the warmth and sincere care our employees have embodied day-after-day. We will continue our endeavor to elevate the world class experiences of luxury hospitality and deliver the magic of Tajness to all our stakeholders," said Puneet Chhatwal, Managing Director & Chief Executive Officer, Indian Hotels Company.Taj received an overall Brand Strength Index of 89.3 out of 100, with a corresponding AAA rating for customer ..

RBI creates liquidity window of Rs 15,000 crore to help hotels, tourism

Relief meant for 'contact-intensive sectors' that have been pulled down due to coronavirus

'INNergise' to Mood Diet: Five-star hotels go all out to beat Covid blues

Focus of home delivery menus is on foods that provide nutrition and improve mood without pinching customers' pockets

Most eateries in Mumbai remain shut as guest cap puts plans in a pickle

While the rest of Maharashtra has reopened with 50 per cent capacity, Mumbai restaurants have been allowed 33 per cent capacity only