The data shows the average room rate of two-star hotels increased by 8.5 per cent in FY18, even though it lagged on occupancy at 61.8 per cent, down 1.4 per cent year-on-year
Taj Hotels Resorts and Palaces, Asia's largest hospitality chain, is looking to set up luxury properties in Africa, West Asia, China and Southeast Asia.
The company is confident that more hotel owners will be keen to associate themselves with the Hilton brand, the second-biggest hotel chain globally after Marriott.
The Supreme Court on Thursday asked the Maharashtra government to implement its earlier order on dance bars.
India needs to hardsell itself as a preferred tourism destination in overseas markets, besides promoting domestic tourism. We expect the Union Budget 2010-11 to be positive for the hotel industry.
With the Union Budget barely a month away, various industry bodies see this as an opportunity to draw Finance Minister Pranab Mukherjee's attention to their sectors and put forth their demands so that he can address these issues in the forthcoming Budget.
The construction of this hotel has been deferred by four years.
Tata-promoted Taj Hotels may decide to add the Nano to their line of chauffeur-driven cars used for guest transfers.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The SC aked the bars to give an undertaking that they would not engage employees with criminal antecedents near the dance area
Scenting opportunity in the budget hotel segment, diversified conglomerate Tata Group plans to construct 50 hotels of its no-frills chain Ginger -- across India in the next four years.
Sources in the Tata group said they could not attend as they were travelling.
Ginger Hotels are the Tata Group's chain of budget hotels.
The Tata group is strengthening the management super-structure within its group companies by extending the post of vice-chairman to three more companies - Tata Motors, Tata Steel and Tata Consultancy Services.
Given the school break, this is the peak travel season and companies catering to the 'friends and family' segment are expected to gain.
Low occupancy rate and ARR together led to significant fall in RevPAR of the hotel sector, affecting its profitability significantly in the busy quarter ended March 2009.
The financial losses due to economic meltdown and Mumbai terror attack notwithstanding, the Indian hotel industry is gearing up for the Commonwealth Games next year to make the most of the likely spurt in tourist traffic.
International hoteliers operating in the country through sales agreements with Indian hotels can expect some relief after the Delhi High Court ruled on January 30 that income paid by the Indian partner to its foreign counterpart is exempt from tax since it cannot be considered royalty or technical fees. The ruling in favour of US-based Sheraton International Inc was in response to an appeal filed by the Income Tax Department challenging the service agreement.
The hotel industry seeks infrastructure status and tax breaks, considering the huge investments required to meet the growing demand, especially in the NCR region for upcoming Common Wealth Games.
Ratan N Tata, chairman, Tata Sons, and chairman, Indian Hotels Co Ltd said that the terrible wanton attacks on Wednesday night on innocent people and the destruction of prominent landmarks in India deserve to be universally condemned.
At a time when the tourism sector is battling slowdown, terrorist attacks in Mumbai have cast a shadow on the industry and the hoteliers are expecting large scale cancellation of bookings, especially from overseas visitors.
Following the horrific terror attacks in Mumbai that have left more than 100 people dead and 300 injured, Ratan Tata, chairman Tata Sons and of Indian Hotels Co Ltd -- which owns the Taj group of hotels -- has condemned the killing of innocent people.
Indian Hotels buys 85% in Claridges subsidiary for Rs 680 crore.
The country's largest hotel firm, Indian Hotels Company, reported a net profit of Rs 234 crore, a fall of 38 per cent from the previous financial year.
Sea Rock Hotel, one of Mumbai's best-known landmarks since 1978, is changing hands for the second time in four years. Indian Hotels Company Ltd, owners of the Taj properties, on Friday said the company would buy the 400-room hotel located in Bandra from the Delhi-based Claridges, which had acquired the property in 2005.
Broader market underperformed the headline indices
Hit by the recent government diktats on banning smoking in public places, cigarette manufacturing firms are putting up a brave front and are gearing up to cope with the revenue loss. While companies like Godfrey Phillips have put up 'no-smoking' posters in their offices and removed ash-trays, lighters from their premises, others like ITC and the Indian Hotel Association have sought relief from the Supreme Court.
Hotel Taj Mahal Palace and Tower, which came under terrorist attacks last month, on Saturday said it will reopen the rooms in the Taj Mahal Tower on December 21. The hotel will reopen at 7 pm on Sunday, December 21, according to a statement from Indian Hotels Company. The hotel's heritage wing (Taj Palace), which bore the brunt of the damage, however, would take some more time to reopen.
The promoters of East India Hotels Ltd, owners of the Oberoi brand and the largest hotel chain after the Tata-owned Indian Hotels and ITC Welcome Group, are in advanced discussions with leading corporate houses and private equity firms to divest a strategic stake, possibly 26 per cent.
Corporate clients form more than half of the business for most branded hotels, especially in cities.
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
Making the things worse, those hitting their record low share prices included big names like Reliance Power, Cipla, Ranbaxy, Ambuja Cement, Hindalco, Indian Hotels, Jaiprakash Associates, Jet Airways, Suzlon Energy and Idea Cellular. Realty majors DLF Ltd, Unitech, Parsvnath, Sobha Developers, Omaxe and Puravankara also plunged to their all-time lows.
The court asked the city's civic body to bring its house in order.
The Indian Hotels Company, the Tata Group firm which runs the Taj Group of Hotels in the country, is set to expand its offerings by getting into serviced apartments business and by widening the portfolio of its wildlife resorts.
The protesters staged a sit-in at the main entrance of Bombay House.
The Taj Mahal hotel, ravaged during the 26/11 terror strikes, reopened on Sunday evening with its owner Ratan Tata dedicating the restored hotel to those who had lost their lives in the carnage."We cannot be knocked down--this is a memorable day and a tribute to those who saved many lives," an emotional Tata said, adding "it gives me a great sense of pride--this is the start of a new era."
Taj General Manager Karambir Kang, whose wife and two minor sons were killed in the deadly terror attack on the hotel, returned to work on Sunday.Kang's wife Nitti and two sons, Samar and Uday, who were put up at the sixth floor of the Heritage wing of the Taj Mahal Hotel, were killed in the terror attack on November 26 that lasted for nearly 60 hours.Despite losing his family, Kang continued to supervise rescue operations and helped guests at the hotel.
In a statement, Indian Hotels, a subsidiary of the Tatas, said, 'We will rebuild every inch that has been damaged in this attack and bring back the Taj to its full glory. The Taj is very much a symbol of India. We are monitoring the development of the unfortunate situation unfolding in South Mumbai in and around our hotel and are fully cooperating with the police and the government authorities to ensure the safety and security of all our guests and staff.'
The Cyrus Mistry camp is confident that independent directors will take their cue from their counterparts in Indian Hotels.
Tata and Singapore's Briley Group are planning a business jet JV based on the fractional ownership model.
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