The multi-brand strategy could drive profitability to a 25% profit margin in the next five years from 17% now.
The days when clean sheets and a well-stocked minibar were enough to ensure a satisfied customer are long gone, says Frederick Sabty.
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.
The 112-year old hotel chain has readied a three-pronged turnaround plan
'Demand in India has been outstripping supply.'
'If the Indian government actually delivers on the infrastructure plans, the hospitality sector would double itself by 2025.'
Treat yourself to two of Chef Satish Arora's signature five-star dishes.
Shares of Tata Group companies on Thursday rose up to 10 per cent, with Tata Chemicals and Tata Teleservices among the major gainers. Tata Sons Chairman Emeritus Ratan Tata, who played a key role in transforming the group into a global conglomerate, passed away late on Wednesday. He was 86. "Investors can pay tribute to Ratan Tata and the great corporate empire he built by buying stocks like TCS, Tata Motors, Tata Steel, Tata Consumer and Indian Hotels.
With demand drying up, hotels are surviving on quarantine centres and isolation facilities.
Cash registers are ringing more frequently at hotels and resorts with the return of the big fat Indian wedding after a two-year hiatus. This comes even as the small and intimate ceremonies - which became popular during the pandemic - are also set to keep those employed in the hospitality sector on their toes. As many as 2.5 million marriages are expected to get solemnised during the wedding season that gets underway from next week and stretches on till April, according to industry estimates.
The strident support from the hotels comes at a time when the industry is itself caught off guard with a sharp dip in both in-bound traffic from foreign markets, reduced domestic traction as well as a total shut-down of MICE business that has led the country top players by market cap to lose over half their value in just a little over a month.
The alpona (artwork) on the steep, winding road leading to Makaibari bears testimony to the visit of G20 delegates for the second tourism working group meeting in April last year. The lush tea bushes, the delegates joining in for the moonlight plucking of Silver Tips Imperial first flush, a favourite of late Queen Elizabeth II, cut a picture of mystical magic. But it's not the Kurseong tea garden's only shining moment - the last few years have been busy for the estate and its bungalow.
Offer valued at $1.86 bn comes 5 years after Bermuda chain rebuffed Indian Hotels.
China, India and Brazil showed significant support for additional spending on green products.
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 palace, currently run by JLR, will be offered to bidders on a long-term management contract.
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.
On Thursday, Prasad resigned as an independent director from the board of Suven Life Sciences. Earlier this week, Prasad had resigned from the boards of GMR Infrastructure, Delhi International Airport Ltd, TVS Motor Company and castings firm Nelcast Ltd.
From free salons to discounted room rates, hotels are offering it all.
Goa, Kerala, Maldives and Dubai are among the popular destinations.
The sudden resignation and almost-immediate announcement of a successor came as a surprise to many.
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
Baga and Gokarna make the list of the world's top 100 beaches.
Matcha tea lovers, this recipe is meant for you!
These deep-fried Corn Cheese Balls can be made from scratch in less than 40 minutes.
Indian Hotels rolls back its multi-brand strategy to focus solely on luxury, looks to paint all its properties with the Tajness brush.
Live it up in style with these credit cards.
'With Ramaland, the tourism department is looking to attract children and adults alike. It'll be learning with entertainment.'
Kiara and Sid may join the long list of celeb couples, who have chosen the beautiful destination of Rajasthan for their wedding.
Chef par excellence Satish Arora recalls his days working as a chef to prime ministers to Chandrima Pal.
Hospitality chains are hosting dual brands on one property, looking for operational efficiencies without diluting their brands, says Shivani Shinde Nadhe.
The Bharatiya Janata Party, which is expected to stake claim to form the next government in Maharashtra soon following the resignation of Uddhav Thackeray as the chief minister, will be holding a series of meetings in Mumbai on Thursday to decide the future course of action, where party's state in-charge C T Ravi will remain present, party sources said.
In Dubai, A Ganesh Nadar encountered high speeds on smooth-as-silk-roads, no bureaucracy, gold, Mr Toad's. And snow!
Aggregators provide standardised amenities and predictability of services, whereas online travel agents give wider choices and packaged travel deals.
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?
Two years after IHCL - one of Asia's biggest hotel chains which runs the Taj chain of hotels and resorts in addition to three other brands - had clinched the deal and subsequently demolished the multi-storey 434-room Hotel Sea Rock, it is now awaiting clearance to start construction.
On Day 2 of the summit, Modi and Xi held a fresh round of one-on-one discussion at the Taj Fisherman's Cove Hotel.
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