Domestic passive mutual fund (MF) schemes will have to sell around Rs 1,500 crore worth of ITC Hotels shares once the demerged entity lists on the exchanges, according to estimates. Passive MF schemes - especially those tracking the Nifty 50 and Sensex - will have to offload their holdings in ITC Hotels as the stock will be excluded from the indices.
If the first quarter results are anything to go by, the hospitality industry may have to face gloomier times ahead.
This final was filled with unusual happenings, and one that will stand out is India coach Gautam Gambhir seen smiling for a change!
Stakeholders said the industry was first hit by widespread cancellations after the April 22 Pahalgam terror attack in Jammu and Kashmir, and the fresh disturbances have further dented travellers' confidence.
'I hear that there are some 10,000 Indians stuck in Iran, including nearly 4,000 students from Kashmir. But, I do not know any of them. Here I am all by myself and the embassy has asked me not to venture out far from my hotel. People here are going about their daily lives despite the bombings'
Fadnavis' tongue-in-cheek remark directed at Uddhav on the "scope" for him in the ruling side set off speculation last week.
'Today, Shah Rukh is sitting so high up that it will have to be something really spectacular for him to jump up and say, "Hey, yes, let's make this film!".'
The primary drivers: Geopolitical disruptions inflating fuel and operational costs, and a surge in travel demand.
The hospitality industry has around 212,000 rooms, with an industry size of about Rs 82,000 crore. The industry could grow at an annual rate of 10.5 per cent for the next three financial years, despite a quiet Q1FY25. The demand will be driven by domestic travellers, who will contribute roughly 50 per cent of the growth, while foreign tourists will account for 30 per cent.
Recalling or relabelling medicines already in the supply chain before September 22 will not be mandatory, the finance ministry said on Tuesday, issuing a fresh set of frequently asked questions (FAQs) to address industry concerns following the announcement of goods and services tax (GST) revisions.
Cook a full meal of intriguing Arunachali food and surprise a foodie loved one.
Social gatherings and events held at hotels have seen an exponential rise since the pandemic and to cater to that segment, Hyatt Hotels has launched a luxury venue in Mumbai. Last week, Hyatt launched 'The Grand Showroom' which is a luxury venue customisable for events ranging from corporate parties, luxury weddings to high-profile occasions. This venue is an addition to its existing property in the city - Grand Hyatt Mumbai.
'They are clueless about the man on the currency notes.' 'They have been fed with WhatsApp forwards, so either Gandhi is vilified or deified. There's nothing in between.'
India were thoroughly exposed in their 10-wicket loss in the second Test of the Border Gavaskar Trophy with the match ending in less than two-and-a-half days as Australia bounced back to level the five-game series 1-1.
'If all of us (all the 57 Shiv Sena MLAs) stand together we can change the dynamic. We are not afraid of anyone.'
Dinesh Raheja celebrates Lata's 96th birth anniversary on September 28 by picking some choice examples of her non-typical songs that are tinged with a rare eroticism.
Sources in the know said a homeless man barged into the room at the hotel where the female cabin crew was staying and assaulted her.
Top-order batter Daryl Mitchell has declared himself fit to face India in New Zealand's final Champions Trophy group match after missing the win over Bangladesh on Monday because of illness.
'For him what's important is relationships, his role, and, of course, the script.' Rediff celebrates Shah Rukh Khan's 60th birthday on November 2 with a special series that introduces us to the man behind the superstar.
'His belief that he is touched by the Almighty reflects in his performances.'
His last stint with the Indian team in the UAE, during the 2021 T20 World Cup, was one to forget, but four years later, he has redeemed himself to become an invaluable asset for the Indian cricket team.
'If you want a room for the consecration, then you better book it now.' 'By this time next week there won't be any hotel rooms available in the temple city.'
After a perilous 500-km road journey out of conflict-torn Tehran, stranded Indian tourist Falguni Dey reached Iran's Astara border with Azerbaijan on Tuesday evening, but his ordeal is far from over.
An Indian engineer, Yogesh Panchal, was detained in Iran for almost two months for allegedly clicking photographs in a restricted zone. He was released earlier this week after the Ministry of External Affairs intervened. Panchal, who hails from Nanded district in Maharashtra, visited Iran in December to explore business opportunities. He was apprehended from his hotel room on December 7 and accused of shooting videos and photos in a restricted zone. He was held in a local detention center for 59 days and treated well, although blindfolded throughout his incarceration. The family sought help from Rajya Sabha member Ajit Gopchade, but the Iranian Embassy in Delhi initially did not cooperate. The MEA's intervention led to a hearing and his eventual release.
'One is not allowed to smoke on the sets of a Hollywood film even during a break.' 'When I asked an assistant to suggest some place where I could light a cigarette, he recommended the bad boys' corner -- where Jack Nicholson smoked.' 'However, I hesitated.' 'But when I was heading back to my chair after the shot, Jack Nicholson asked me if I wanted to join him for a smoke. We had a long conversation over cups of cappuccino.'
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.
Hoteliers are tweaking their pricing strategies to adjust to the new stickiness in the market.
Kriti-Kajol promote Do Patti... Shraddha is a black cat... Urvashi flaunts her Gucci...
The 25-year-old actress was found hanging from the fan with a piece of cloth and the police were called immediately, according to the hotel staff.
The finance ministry has said that the Goods and Services Tax will not apply on room rents of 'sarais' (inns) or properties managed by religious and charitable institutions. The clarification was issued by the Central Board of Indirect Taxes and Customs (CBIC) on Thursday evening to clear the confusion with regard to the levy of GST on room rents. This clarification by the Finance Ministry came following a demand from various quarters including AAP MP Raghav Chadha that the GST on rooms rented by religious institutions be withdrawn.
Duty magistrate Shivangi Vyas sent Mahamed Sharif for custodial interrogation, noting that police had to recover certain articles from his residence in Delhi, which were allegedly stolen by him.
Another special flight carrying 296 Indian nationals and four Nepalese nationals stranded in conflict-hit Iran landed safely in New Delhi on Wednesday, taking the total number of people evacuated under Operation Sindhu to 3,154.
'I am smitten with Tokyo's eclectic mix of modern cosmopolitanism and old world Japan,' confesses Dinesh Raheja.
The Bahujan Vikas Aghadi supporters gheraoed Vinod Tawde and raised slogans.
Bharatiya Janata Party general secretary Vinod Tawde on Wednesday dismissed the allegations of distributing money to influence voters, saying he was well aware of the rules and not foolish to indulge in such an activity at the hotel of political opponents.
Star batter Virat Kohli supported the presence of players' families on tours
The proposed reforms in goods and services tax (GST) announced by the government last week, coupled with the eighth pay commission dole-out, is likely to push consumption-driven stocks - such as air conditioners (ACs), select automobiles, fast-moving consumer goods (FMCG), retail, and counters of quick-service restaurants (QSRs) - into higher orbit over the next few months, believe analysts.
The hospitality industry has seen plenty of interest since the catastrophic impact of the pandemic, which led to losses in FY21. The hotel industry market cap has more than tripled since 2019 on the combination of a strong earnings rebound and positive surprises, as well as three recent listings. The industry has good tailwinds. The anticipation is, demand for rooms will outrun supply for a few years despite capacity expansions.
To see the happiness on their faces that only a travel experience can bring is priceless.
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.
