Hospitality Sector

Tourism, hospitality sector expected to create 50 million jobs in 5-7 yrs: HAI

The infrastructure status for the hospitality sector can push up investments not only to create accommodation, but also in the process boost income and employment generation, HAI President Puneet Chhatwal said while speaking here at the 6th HAI Hoteliers' Conclave.

Hospitality sector earned 15.8% more revenue per available room in Dec quarter: Report

The momentum from the last quarter is expected to carry on into this year, supported by the wedding industry, corporate and social MICE demand, and the growing significance of niche tourism categories such as religious tourism, the report noted.

Ram Mandir Effect: How the Temple is Transforming Ayodhya's Economy | Hospitality Sector Booms

Ahead of the Ram Mandir inauguration, hotels in Ayodhya overflow as tourists and devotees flock to the iconic temple. Hospitality giants like Radisson and Taj also join the boom. To meet the surging demand 73 new hotels have been built. Hospitality industry is seeing immense growth potential from high demand and UP is also bracing for economic boom. So, if you are also planning to visit Ayodhya, watch this detailed video by CNBC's Madeeha Mujawar

Remembering PRS Oberoi: A visionary who focussed on being the best

PRS Oberoi was proud of the hotels he built. He never compromised on trying to sign up a hundred hotels, his focus was always on quality over quantity. He started Make In India, 30 years ago, when it was not in vogue and made the whole world look at Indian hospitality as the best in the world

RIL and Oberoi to manage 3 hospitality projects together

The properties include the upcoming Anant Vilas Hotel in Mumbai's Bandra Kurla Complex (BKC), the iconic Stoke Park in the UK, and another planned project in Gujarat

Hospitality sector sees change in discretionary spending as smaller cities evolve

Indian Hotels recorded yearly net profit growth of nearly 31 percent to Rs 222 crore and 17 percent rise in revenue to Rs 1516 crore in company’s June quarterly results.

Indian hospitality sector bounces back after Covid slump: Report

The Indian hospitality sector seems to be a in bullish phase due to blend of diverse positives for the sector, led by a policy push leading to investment perking up.

Budget 2023: FHRAI pitches for infrastructure status to hospitality sector

Budget 2023: In its pre-Budget demand, the Federation of Hotel & Restaurant Associations of India (FHRAI) said although industry status has been accorded to tourism and hospitality by many state governments, the incentives and privileges associated with an industry have not been conferred to the sector.

OYO public issue likely to be delayed by another quarter: Report

The Sebi has asked the company to update risk factors, its key performance indicators, pending lawsuits, and the basis for valuation in the its DRHP.

Breather for restaurants, hotels: Delhi L-G sets up panel to ease licensing processes

The committee will be headed by the principal secretary for home and comprise senior representatives from Income Tax Department, Delhi Pollution Control Committee (DPCC), Municipal Corporation of Delhi (MCD), Delhi Police, Delhi Fire Services and New Delhi Municipal Council (NDMC), according to officials.

Hospitality sector demands change in infrastructure status to drive growth, benefit more cities

The sector has recovered from the impact of the pandemic, driven by domestic travel with occupancy level in latest June quarter higher by 4 per cent as compared to the pre-COVID level and average room rate up by 16 per cent, HAI President Puneet Chhatwal said here at the Hoteliers’ Conclave 2022.

Hotel stocks surge over 50% as industry checks in to growth phase with strong fundamentals

Leaner operating costs, increase in occupancy levels and average room rate reflect the strong uptick in the stock prices of Indian Hotels Company, EIH Ltd and Lemon Tree Hotels

Government provides additional Rs 50,000 crore under ECLGS to hospitality sector

As part of the Emergency Credit Line Guarantee Scheme (ECLGS), the government granted an additional Rs 50,000 crore on Wednesday to ensure low-cost credit flow to the hospitality and associated sectors, which have been severely impacted by the COVID-19 outbreak.

Sam Zell's Equity International likely to sell stake in SAMHI Hotels

DealStreetAsia reports Sam Zell-owned Equity International is looking to sell its stake in Gurugram-based SAMHI Hotels

With Omicron, it's déjà vu for premium hotels

The new variant has delivered a hard knock to the budding recovery, but this time the rebound in occupancy could be faster and the industry is better prepared to handle the disruption 

Well-capitalized & on path to profitability: OYO’s Ritesh Agarwal

Online hotel aggregator giant OYO Hotels & Homes sees a strong recovery in the Indian travel and hospitality industry as the impact of the second wave of COVID seems to reduce due to unlocking, Founder & CEO Ritesh Agarwal tells Moneycontrol’s Nisha Poddar in this exclusive chat.

Moody's assigns first-time B3 ratings to OYO, outlook stable

The rating incorporates Moody's expectation that OYO will continue to incur losses over the next 2-3 years and that its path to profitability remains uncertain in light of travel restrictions due to the pandemic.

Coronavirus Unlock 1 | Health Ministry releases guidelines for opening hotels

Hotels in containment zones will remain closed.

SoftBank-backed OYO to offload more loss-making hotels amid pandemic: Sources

The hospitality sector has been one of the worst affected by the coronavirus outbreak, with global and domestic travel coming to a near-halt.

Coronavirus impact: Hotel industry revenue likely to fall by Rs 90,000 crore in 2020 due to COVID-19

"Occupancies across hotels in key cities witnessed a sharp decline, as travel restrictions intensified and India went into lockdown towards the end of March 2020," HVS-Anarock said in a newsletter.

Hello This Is... | COVID-19's impact on hospitality sector

Rohit Kapoor, CEO - India & South Asia, OYO Hotels & Homes, talks about disruption in payment cycles and OYO's efforts to contribute towards the fight against COVID-19.

Nirmala to discuss highway liquor ban issue with colleagues

Commerce and Industry Minister Nirmala Sitharaman today said she will discuss with ministerial colleagues the Supreme Court ruling of banning liquor shops along highways, which has sparked concerns in the hospitality sector.

Hiring activity up 10% in November: TimesJobs

According to the latest TimesJobs RecruiteX report, travel & hospitality sector posted a 21 percent jump in hiring, followed by infrastructure 18 percent, petrochemicals 17 percent and IT and telecom sector 12 percent increase during the month.

Millitoons plans to acquire 9 US hotel cos for Rs 491 cr

"The company has drawn major plans to enter the hospitality sector in a big way and entered into an agreement to acquire nine companies in the US which own well established hotels for a total cost of USD 73.25 million equivalent to Rs 491 crore," Millitoons Entertainment said in a BSE filing.

'Net driving travel, hospitality growth in small towns too'

The report, which was released today, said: technology automation gives hoteliers across categories and size the infrastructure to scale up operations and a competitive edge in the market.