Important source markets for inbound tourism such as Europe, the US and the UK have been reeling under slowdown pressures, thereby bringing down tourism.
Company's strategy is to 'milk the brand' as much as it can, as well as to look at an early transition.
ABG close to winning bid for container-handling berth at Haldia.
The Comptroller and Auditor General can do a performance audit of production sharing contracts
Mumbai and Pune hotel projects put on hold for now.
It had also washed its hands off the fourth container terminal at Jawaharlal Nehru Port Trust, despite making a winning bid, with Port of Singapore Authority as the lead partner.
Haldia Bulk Terminals pulled out of 10-year contract for cargo-handling operations, blaming the political climate and "vested interest".
While the peak holiday season failed to bring in much business to the hotel industry, the online travel booking space has done reasonably well.
EIH posted a net loss of Rs 18.3 crore on lower occupancy levels.
Temporary relief for Bharti, Vodafone and former telecom secretary Shyamal Ghosh
Maruti Suzuki India Limited (MSIL), which witnessed labour unrest at its Manesar facility, is set to complete the process of regularisation of contract workers at the unit by November-end.
Going all out to market the all new Alto 800, pricing the base variant of the new car lower than the outgoing model, Maruti Suzuki India Ltd (MSIL), today said it will start exporting the car from Gujarat's Mundra port from December this year. The first export market is likely to be Chile in South America.
As expected, land prices in the region have shot through the roof in the last three to four months, rising about 12 times compared to prices a couple of years earlier.
US-based online travel company Expedia Inc is setting up a research and development (R&D) centre in Gurgaon, near Delhi. With 100 people already on board and another 200 still to be added, Expedia will have the biggest R&D facility among the online travel companies in India.
When the founder and CEO of MakeMyTrip.com, Deep Kalra, spoke of his plans to expand the company's offline retail stores, the American board members of the Nasdaq-listed online travel firm found the idea revolutionary.
A presentation by the CBI to a Joint Parliamentary Committee last week said the decision led to a loss of Rs 508 crore to the exchequer.
Nestle India, the subsidiary of Swiss dairy major Nestle, is all geared to set up its ninth plant in the country. The company had acquired about 50 acres of land at Sanand, nearly 30 kilometres from Ahmedabad, for a manufacturing plant, said Gujarat government officials.
The lease term of the Taj Palace Hotel, owned by the Indian Hotels Company, will expire on April 1, 2013, and it must settle a dispute with the Delhi Development Authority over the quantum of licence fee for a smooth renewal.
The company sees many more areas of inorganic growth in the future.
About 12 years ago when the Marriott group started its India stint with the opening of Marriott Goa, it was one of the few international hotels to seize the 'India opportunity.'
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