Indian Hotels Company Limited, which runs the Taj Group of hotels in India and abroad, will promote the 'Ginger' brand across the country by setting up properties targetting the mass market.
According to multiple sources close to the development, Mercedes-Benz is already in talks with multiple developers in Gurugram for a luxury branded residence project.
Taj Dubai will be the first international property to house 'Chambers' and offer facilities and privileges.
Their projects are known for Italian-inspired creative façades with intricate urban elegance.
The latest move removes one of the key friction points for visitors, temporary liquor permits, while allowing licensed hotels and restaurants operational flexibility.
Travel firms expect package prices to rise by 5 to 10 per cent, depending on destination and inclusions.
Less than a month before assembly polls in Bihar, a Delhi court on Monday framed charges against Rashtriya Janata Dal chief Lalu Prasad Yadav, former Bihar chief minister Rabri Devi and their son and leader of opposition Tejashwi Yadav in the alleged IRCTC scam case.
'They are saying that there is a pilot shortage which is not correct, but if it was true, did they suddenly come to know this on December 5?' 'If they didn't have crew, why did they seek approval for a winter schedule? To get the approval, the operator has to show crew strength and also a buffer of crew available.' 'If they had a crew crunch, why did they ask for extra flights? Or was it something else that made them so sure that they would get away with this exemption and bans?'
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.
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.
Red Square and VDNKh easily rank among the most striking places I've visited -- both for their historical significance and architectural splendour.
My admiration for Russian culture, vision and ambition grew with every step as I clocked the miles, Nitin Sathe tells us after a visit to Moscow and St Petersburg.
The rise of domestic leisure travel, helped by rising income levels, is helping the industry offset the sluggishness in business from foreign visitors
'College-going Gen Z students are devastated by the killings and destruction.' 'These are not the kind of people who would burn somebody's home or beat up political leaders or set fire to people and snatch guns from the policemen.' 'So obviously a huge infiltration has happened.'
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.
The Delhi high court on Friday stayed a Rs 1,140 crore angel tax demand raised by the Income Tax department from hospitality and hotel aggregator Oyo's parent company Oravel Stays Private Limited for the assessment year 2020-21. The tax demand was issued under Section 56(2) (viib) of the Income Tax Act, commonly known as the "angel tax" provision, which applies when unlisted companies issue shares at a value exceeding their "fair" market price.
The contract has been entered into with Paranjpe Schemes Construction Limited and the new hotel will be a part of the Taj Business Hotels portfolio, a release stated.
The stocks are largely from sectors such as chemicals, finance and cement, which struggled earlier but the worse seems to be behind them.
"Twelve years after India's worst terror attack on Mumbai, two Taj hotels -- Colaba and Bandra have received a terror threat from Karachi. "I have had detailed discussions on beefing up security arrangements with both Maharashtra DGP and Mumbai Commissioner of Police," Deshmukh said.
Reliance 4IR Realty Development, a unit of Mukesh Ambani's Reliance Industries, paid a Rs 86.5 crore 'development fee' to license the Trump brand for a forthcoming real estate project in Mumbai.
'That way you're not hostage just to US sort of exports to India.'
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.
After a silence of about three months, Orient-Express Hotels, the Bermuda-based luxury hotel chain, has finally broken its silence on the apology sought by Indian Hotels Company Limited.
'India has not faced a major terrorism loss since the Mumbai terrorist attacks in 2008.'
FSSAI is looking to tap the Airport Health Organisation to ensure that such incidents aren't reported in the future.
Rajbaris are a link to Bengal's rich past, of grand mansions, classical fine dining, and allow guests to be pretend zamindars for those few hours or days that they stay.
The race to acquire diversified fintech firm Religare Enterprise Limited (REL) intensified as Dabur group promoters, the Burman family, said it was going ahead with the open offer on Monday and claimed that the counter offer made by US-based businessman Digvijay Gaekwad wasn't valid and will not stand scrutiny of market regulator Sebi. The Burman family claimed that the competing offer falls outside the 15-day window stipulated by the Sebi takeover code, following their initial offer on October 4th, 2023.
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.
If as critics point out, the environmental impact assessment study was commissioned only after the auction process got underway with not all the stakeholders getting to know of it, then the government has already compromised the trust it could have enjoyed with Kerala's public including its coastal communities, points out Shyam G Menon.
There were certainly qualities adhering to the Tata Group, which emanated from the persona of Ratan Tata. Most notable of these would be the low profile he maintained, which sharply contrasted the in-your-face celebrity status, celebration of wealth and pursuit of importance many of liberalised India's rich, love, notes Shyam G Menon.
Hotels are also relying on couples who had earlier planned destination weddings but are now considering options within the country.
A lot depends upon the crucial decision-making skills of the management. If you have any doubts about the management then you always have the choice of selling your shares or not buying stocks of those companies at all.
This was a man who like Buddha transformed himself into achieving the impossible and being an inspiration for many generations to come, says business thinker Mudit Jain.
'I was completely in awe of him. After the shot was okayed, I would quickly run back to my chair and sit quietly till I was called again.'
Indian kiranas are agile enough to face the q-com challenge, but it's going to be a tough fight, notes Ambi Parameswaran.
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 future of travel is increasingly shifting to focus on experiences that positively impact one's overall wellness.
Popular doesn't always mean best. Here's why.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
When the landslide hit, Sruthi's house was washed away, along with its inhabitants. She lost her entire family and some relatives. All she had left for a close confidante was her fiance Jenson. Days after the landslide and the loss of her family, Jenson died in a road accident that also left Sruthi with serious injuries. News of the accident and Sruthi's backdrop as the lone surviving member of a family wiped out in the July landslide, was picked up by the media, and people rushed to help.
Hoteliers are tweaking their pricing strategies to adjust to the new stickiness in the market.
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