The Republic Day long weekend beginning Saturday is driving a surge in travel with hotels and resorts witnessing an increase in bookings led by high demand, reflecting a decisive shift in traveller behaviour and the rise of micro-getaways, industry players said. The increasing preference for short, experience-led holidays is emerging as a strong trend shaping the country's leisure travel market.
'The entire travel ecosystem is reeling with the domino impact of flight cancellations.'
India's live events scene is hitting a high note. With global performers adding the country to their tour maps and the government aiming to double the concert economy, hotels in key metro cities are bracing for sold-out weekends. Travel operators, too, are curating packages built entirely around concerts.
4.5 million weddings are expected across India.
Travellers are turning concerts into full-fledged weekend getaways, giving rise to the 'gigcation' -- a short, experience-led micro-holiday.
The Royal Orchid Hotels Ltd plans to add five hotels totalling 385 rooms in the current financial year with an investment of Rs 60 to 70 crore (Rs 600 to 700 million), its chairman Chender Baljee said on Monday.
Strong demand for cultural and spiritual hubs is expected for destinations like Varanasi, Kolkata during Durga Puja, and Pushkar for the camel fair, besides leisure destinations like Goa, Udaipur, Jaipur and Coorg.
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.
'It's clear that fans are eager to be part of the live stadium experience, reflecting a growing trend of travel driven by marquee sporting events.'
Hospitality players want the government to accord infrastructure status to hotels to make investments on new properties more attractive rather than categorising them as luxury or even 'sin goods' in the upcoming Union Budget considering the sector's potential to play a key role in India's growth. They also want the government to consider incentives in the form of tax breaks or subsidies for adopting sustainable and eco-friendly practices, while asserting that the upcoming budget must accelerate the tourism agenda saying it is an opportunity to make Indian hospitality the emerging engine for GDP growth and employment generation.
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 pungent masala of the Mutton Xacutti can be used to make a mixed vegetable dish too.
The hospitality sector has been hit very hard by the pandemic. In the past 18 months, it has lost business, first because of the harsh lockdowns and after that because of lack of demand due to the ensuing economic slowdown. Most hospitality businesses have sustained low revenues and losses since April 2020. Is this the classic case of a beaten-down cyclical sector that may be close to bottoming out?
Prominent luxury hotel groups like JW Mariott, Royal Orchid, Taj and Intercontinental are using the Indian Premier League (IPL) cricket tournament to offer promotional food and beverage (F&B) packages to lure more customers in a sluggish economy.
Over the past one year, since the helpline became functional (on September 8, 2006), a total of 3,110 grievances have been registered.
Though letter of allotments of land were issued to a few hotel chains like Royal Orchid and Signet Hotels for 20 sites last year, land could not be transferred due to the objections raised by the Rail Land Development Authority. The hotel plan was unfolded by the IRCTC in 2006 and accordingly 100 railway sites were selected for setting up budget hotels on public private partnership model.
ITeS company Mphasis chairman Jerry Rao has invested an undisclosed amount in Royal Orchid Group of Hotels after joining the group's board of directors.
The renovations at the old hotels will be complete in two and a half years and tariffs will range between Rs 2,500 and Rs 4,000
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The broader markets are, however, outperforming the larger peer.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Dr Rekha Shetty, who consults several corporations on long-term innovation initiatives, draws up a list.
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