Indian Hotels

Indian Hotels Company Q3 net profit rises over four-fold to Rs 403 cr

Total expenses were higher at Rs 1,248.62 crore in the third quarter, up from Rs 1,014.23 crore a year ago

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

According to IHCL, with eight new hotel signings, the iconic brand Taj is slated to reach the 100-hotel milestone from 98 hotels currently

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 ...

Mahindra Resorts to invest Rs 1,800 cr, to add 2,100 rooms in 5-6 years

Mahindra Holidays & Resorts, the only listed entity in the membership-driven holiday segment, will add 2,100 more rooms in the next five to six years with an investment of around Rs 1,800 crore, according to a top company official. The company, better known as Club Mahindra, runs 119 properties, of which 74 are in the home market, 33 in Finland, Sweden and Spain being run under the banner of Holiday Club which it bought some years back. It also has 12 properties in the Middle East and South Asian markets. At present, the company has 4,900 keys inventory. The company has a customer base -- all club members and most of them having 25-year memberships -- of 2.8 lakh as of December 2022. The membership fee is the biggest revenue stream for the company, which is a debt-free entity of the Mahindra group and had a cash pile of Rs 1,090 crore at the end of December. "We'll be closing FY23 with 4,900 rooms across 119 properties, 60 per cent of them are owned properties and the rest ...

Significant room for upside in Indian Hotels stock, say analysts

Analysts estimate annual growth of 15% in revenue and 20% in Ebitda during FY23 to FY25, and have target prices ranging Rs 375-380

ITC Hotels launch Mementos Udaipur, its first Mementos property in India

ITC's Hotel Group has announced the opening of its first Mementos property by ITC Hotels, Ekaaya, Udaipur, under the new brand - Mementos

Premium hotels revenue likely to surge 80% in fiscal year 2023-24: Report

Premium hotels are expected to log in strong growth across operating parameters, especially on the revenue side, which is expected to surge 80 per cent this fiscal and a further 15-20 per cent next, buoyed by the continued recovery across categories, as per a report. Hotels are getting higher bookings across leisure, corporate, MICE (meetings, incentives, conferences, and exhibitions), and international travels, leading to a decadal-high occupancy for premium hotels, a Crisil Market Intelligence report said. The report is very bullish on the revenue growth of the premium segment owing to better operational parameters, primarily due to higher demand, increase in room rates and employee rationalisation The revenue of premium hotels is expected to surge 80 per cent in fiscal 2023, and a further 15-20 per cent in fiscal 2024, according to the report. Rising demand has the average room rates (ARRs) hitting the pre-pandemic levels, leading to record high operating margins, which is also

Indian Hotels soars 7% on heavy volumes backed by strong Q3 show

The demand outlook for the sector in 2023 remains robust on the back of sporting events such as world cup hockey and cricket and global events like the ongoing G20.

After 2 years of Covid lull, Delhi restaurants decked for X'mas, New Year

Business closures, slashed menus, empty seats, furloughed staff -- restaurant and cafe owners in Delhi wish to put these unpleasant memories behind them as they prepare to welcome guests for Christmas and New Year after a two-year lull due to coronavirus. The hospitality industry was one of the worst-hit sectors as multiple waves of the deadly COVID-19 pandemic in the last three years had broken its back, forcing many restaurants to shut down permanently or let go many of their staff. However, owners of several restaurants and cafes and their associations feel, the "worst is behind them", hoping that their businesses will once again thrive as "it is beginning to look a lot like Christmas again". Some owners said although there has been a bit of a scare after coronavirus cases were reported in some countries, as far as bookings for Christmas and New Year were concerned, they were back to pre-Covid numbers. The Centre has urged all states and Union Territories to gear up the whole ..

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 ..

Retail firm Lulu Group signs deal to open 6 shopping malls, 1 hotel in UP

The Uttar Pradesh government has signed a memorandum of understanding (MoU) with hypermarket and retail giant Lulu Group to set up six shopping malls and one hotel in the state

IHC, Mahindra Holidays: Time to check-in hotel stocks this holiday season?

Hotel stocks are seeing healthy accumulation with select stocks eyeing up to 35 per cent jump this travel season

TCS, Tata Coffee: 5 Tata Group stocks that you can bet on for a good return

With in the Tata Group space, except for Indian Hotels, others like TCS, Tata Motors, Trent and Tata Coffee seem poised for a buoyant rally in the near term.

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

Travelling with pets: How tourism industry is warming up to the idea

Six Indian stocks added to MSCI; Five Star IPO manages to scrape through

These stocks will witness inflows between $165 million and $255 million from passive trackers, analysts said

MSCI India index rebalancing could stoke Rs 13,000-crore churn

Varun Beverages, Tube Investments, IHCL seen as potential inclusions

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

Delhi HC gives the green light to restaurants to levy service charges

It comes just days after, on Tuesday, HC had asked the restaurants why they could not increase the salaries of their staff instead of levying a service charge

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