Indian Hotels Company, the 100-year-old Tata Group hotel chain is attempting to rewrite the rules of the hotel business by launching 'budget hotels'. Take the Rediff Business Quiz and find out how much you know about the hotel industry.
Operating profit margin for the quarter grew to 21.3 per cent in the current quarter compared to 12.40 per cent in the previous corresponding period.
Large chains like the Marriott and Taj that are estimated to consume two million plastic bottles a year have taken a conscious decision to first eliminate PET bottles on their premises and then reduce the use of single-use plastic altogether, saying they are all for a sustainably environment-friendly tomorrow.
The Taj Mahal Hotel, which completed 100 years of existence on Tuesday, will continue as the symbol of India's hospitality and warmth, Tata Group Chairman Ratan Tata said in Mumbai.
As several premium hotels such as ITC, Taj and Oberoi reopen after the lockdown in cities such as Bengaluru, Kolkata and Hyderabad, many changes have been made for the safety of guests and staff including temporary closure of spas, bars, gyms, and swimming pools.
The tata group intends to invest Rs 1,500 crore (Rs 15 billion) in setting up 150 'value hotels' in India and abroad over the next five years.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In a departure from the past, when IHCL adopted the organic route for entering markets like London and New York, this time around the expansion will be acquisition-led.
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
The decision to auction Taj Mansigh brings to an end a six-year-old tussle between the NDMC and Tata Group, which has operated the landmark property for nearly four decades.
Hotel companies said the conditions are not investor friendly and making money on the property could be tough in the initial years.
Corporate clients form more than half of the business for most branded hotels, especially in cities.
Marriott-Starwood, Carlson Rezidor and others are winning the tug-of-war for customers with local hotel chains as they add new properties at a breakneck speed.
A British court on Monday began hearing the compensation claim of man paralysed during the 2008 Mumbai terror attacks with the victim suing the owners of the iconic Taj Mahal Palace Hotel, alleging they neglected security despite warnings of an imminent assault.
NDMC to auction Taj Mansingh within three months.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
The court, however, asked the civic body to grant six months "breathing time" to the company in vacating the hotel in case they lose out in the e-auction.
This would be the fourth time the New Delhi Municipal Council would be giving an extension.
Hoteliers are tweaking their pricing strategies to adjust to the new stickiness in the market.
Fourteen per cent of the $16 billion invested by Ratan Tata in M&As abroad has been written off by his successor.
However, many historians, conservationists and artists have slam move to 'entrust' Red Fort to cement company.
The decision was taken at a council meeting on Thursday after the home ministry wrote to the civic body to cancel the company's first right of refusal.
The city's landmark five-star Taj Mahal hotel, popularly called the Taj Mansingh after the road it's situated on, is likely to get yet another lease extension.
Only 10,059 tourists have visited the state this month compared to around 90,000 in July
The BSE Midcap ended up 0.5% while the Smallcap index ended nearly 1% higher
