Most of the hotels in the country, including the Indian ones that traditionally owned assets, have embarked upon an asset light model for a faster growth and quicker returns. Lemon Tree is likely to announce a deal with Keys Hotels in the next two weeks.
US-based equity investment firm Warburg Pincus has picked up stake worth Rs 280 crore (Rs 2.8 billion) in the hospitality chain Lemon Tree Group
Warburg Pincus, the private equity major, is set to enter an equal joint venture with Patu Keswani's Lemon Tree Hotels to get into affordable housing.
Indian hotel companies are experiencing a sharp correction in share prices due to the Iran war and broader geopolitical tensions, leading analysts to cut operating profit expectations and valuations, despite structurally positive medium-term prospects.
Prohibition never stopped anyone from drinking in Gujarat. It only made the stories that come after a lot more interesting, recounts Binu Alex.
Kudos to the makers for attempting to create a meaningful series, Bandwaale, that blends the beauty of music to inspire you to look within, and find your voice, raves Divya Nair.
Jain food is light on the stomach and uses no potatoes, onions or garlic. Try these green banana specials. And a mango custard.
India's hospitality sector is rolling out the red carpet for investors. A flurry of upcoming IPOs, or initial public offerings, the entry of new players, and ambitious expansion plans by Indian and global hotel brands are ushering in what could be the industry's most formalised era yet. Leading the charge are real estate titans, who are turning their hotel arms into global hospitality chains.
With the rise of wellness tourism and experiential travel, specialised jobs are being created in spa management, event planning and local experience curation, besides social media management.
A probe into e-mails threatening blasts at Narendra Modi Stadium in Ahmedabad and different places in 12 states has unravelled a tale of unrequited love and vengeance allegedly unleashed by a woman executive of an MNC in Chennai to defame a man, leading to her arrest.
Hotel companies, which have experienced substantial share price gains in the past six months, are not only expected to post robust revenue growth in the seasonally weak July-September quarter (second quarter, or Q2) of 2023-24 (FY24), with the trend continuing in the second half (H2) of FY24, but according to some analysts, they will also benefit from a structural uptrend in progress. To begin with, larger players in the listed hotel sector are expected to report strong growth in Q2 compared to the year-ago quarter. Led by higher demand from the business segment, the sector is expected to achieve a growth rate of 15-30 per cent.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
The hospitality industry has around 212,000 rooms, with an industry size of about Rs 82,000 crore. The industry could grow at an annual rate of 10.5 per cent for the next three financial years, despite a quiet Q1FY25. The demand will be driven by domestic travellers, who will contribute roughly 50 per cent of the growth, while foreign tourists will account for 30 per cent.
The mood at the Hotel Investment Conference South Asia (HICSA), the annual hospitality industry conference was rather upbeat. But hotel brand operators and owners remain cautiously optimistic of the outlook and are living on a hope that a third wave of the pandemic doesn't become a reality. Having just survived the unprecedented zero revenue situation, the two day confrence organised by consulting firm Hotelivate, was dotted with anecdotes and best practices adopted by the hotels of all hues.
Security concerns prevent the largest hotel project in the country to take off.
About Rs 12,000 crore are stuck in India's first hotel district, Delhi's Aerocity, because of red tape.
The move to demerge the hotel business into a separate entity by ITC has brought back focus on hotel stocks, which have already seen a good run thus far in fiscal 2023-24 (FY24). Analysts believe there could be more gains in store over the next one year for the stocks in this sector, but suggest investors put in money on a correction only from a long-term perspective. Hotel stocks, according to A K Prabhakar, head of research at IDBI Capital, have seen a good run as travel picked up post Covid in India. Not only have the room rents increased, the occupancy, too, has surged.
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Consumption-related stocks, such as hotels, and quick service restaurants (QSRs), have been hitting the ball out of the park ahead. On the other hand, the Miss World Pageant scheduled for later this year in New Delhi, too, could provide some tailwind to these stocks, especially hotels and aviation. However, analysts suggest investors put their best foot forward and buy these counters only on a decline given the recent rally and economic headwinds.
The key risks against a fast recovery would include long delays in business travel resumption, delays in commissioning, etc.
With companies like Google, Amazon and Facebook having their offices world over, science and engineering professionals working in data centres are key assets for a country's economic stability and security. Focused programmes and adequate attention to traditional educational programmes will help build a pool of skilled people.
Different government departments want changes to existing structures and layout is resulting in for hoteliers.
At a time when the economic slowdown is eating into corporate earnings, the country's economy hotels, including Krizm Hotels and Berggruen Hotels, are going ahead with their expansion plans.
A UK major kickstarts a homegrown hotel chain in India.
Patu Keswani, the owner of Lemon Tree Hotels and Red Fox Hotels discusses his success mantra, his life as an entrepreneur and fun he had in starting his own hotel chain.
Growing trees means much more than strewing seeds around; it takes an understanding of local climatic conditions, indigenous strains and partnership with local communities.
Hospitality chains are hosting dual brands on one property, looking for operational efficiencies without diluting their brands, says Shivani Shinde Nadhe.
Don't bet everything you have, Lemon Tree's Patu Keswani tells Pavan Lall.
This e-series funding round also makes OYO the most valued hospitality company in the country, ahead of the Tata group's Indian Hotels Company, which owns the Taj brand of hotels, and EIH, which owns the Oberoi brand of hotels.
Delhi has been witnessing sit-in protests at Shaheen Bagh and Jamia Millia Islamia against the new citizenship law for over 90 days.
Ditch the usual Holi recipes and opt for something tasty yet healthy like stuffed mushrooms and quinoa pancakes.
The Uttar Pradesh Police had on Tuesday constituted an 18-member Special Investigation Team (SIT) to probe the death of the seer and detained a disciple of his in Haridwar.
After a turnaround in performance by Indian equity markets since July that has seen the S&P BSE Sensex and the Nifty50 wipe out the year-to-date losses, analysts suggest investors start nibbling into stocks that are focused on the domestic economy. While they say intermittent corrections, led by policies of global central banks and other economic data, cannot be ruled out, analysts expect India's relative outperformance among global equity markets to continue as it looks better placed with a healthy economic recovery, and remains one of the fastest growing major economies. In this backdrop, Neeraj Chadawar, head of quantitative equity strategy at Axis Securities, believes that amid global slowdown, aggressive tightening by the central banks, and preference for domestic interests first (by the local government), export-oriented themes are likely to be muted or will deliver conservative returns in the near-term.
Green Tomato Days are here. Make the most of them.
'If we can't celebrate life itself, it is not a festival anymore, but one's ignorance of what's happening around us.'
Goldman-HDFC JV and OYO Hotels & Homes are betting big on student housing, says Raghavendra Kamath.
Some start-ups, small businesses allowing pets at workplace
An easy-to-cook recipe from blogger Satyajit Kotwal that's loaded with health benefits.
Sectoral players feel addition of rooms could hit earnings.
