Friday, November 8, 2024

hotel

The Hosteller secures INR 48 Cr from V3 Ventures for expansion

Hotels & Restaurants
The Hosteller, a popular backpacker hostel chain, has secured INR 48 crore in funding. The investment is a combination of equity and debt, with INR 16 crore coming from Blacksoil as debt and the remainder from...

TreeHouse Hotels introduces hi-way MOTELS, eyes growth

Hotels & Restaurants
TreeHouse Hotels & Resorts, part of Karma Hospitality LLP, has introduced hi-way MOTELS. This new addition expands their brand portfolio, which already includes The Luxury Villa Collection, TreeHouse Exotic, TreeHouse, and Nest by TreeHouse. Hi-way MOTELS at...

Radisson group opens newly Svelte Delhi, a 108-Room Hotel

Hospitality
On Tuesday, October 8, Radisson Hotel Group announced the opening of Svelte Delhi, a Radisson Individuals member, making it the first of this brand...

Nationwide hotel occupancy reaches decade-high of 67.5% in 2023-24: Hotelivate Report

Hospitality
India's branded and organised hotel sector achieved a decade-high occupancy rate of 67.5% in 2023-2024, with an all-time record average daily rate of INR...

Marriott International sees future growth in India’s untapped regional markets

Industry
Marriott International, the world’s largest hospitality company by room count, anticipates significant growth in India, its fifth-largest market. Untapped͏͏ Markets͏͏ on͏͏ the͏͏ Radar: David͏͏ S.͏͏ Marriott,͏͏...

SAMHI strengthens portfolio with acquisition of Innmar Tourism and Hotels

Industry
Branded hotel ownership and asset management platform SAMHI has successfully finalized the Share Purchase Agreement (“SPA”) for the acquisition of Innmar Tourism and Hotels...

EaseMyTrip signs exclusive deal with PhonePe for hotel listings

LATEST
Following the sale of half of his stake for INR 920 crore by cofounder and CEO Nishant Pitti, online travel aggregator Easemytrip has announced...

Indian Hotels Company to launch Vivanta and Ginger Hotels in Tamil Nadu’s Hosur

Industry
The Indian Hotels Company Ltd, known for its iconic Taj brand,͏͏ has͏͏ announced͏͏ the͏͏ launch͏͏ of͏͏ two͏͏ greenfield͏͏ projects͏͏ in͏͏ Tamil͏͏ Nadu.͏͏ The͏͏ developments͏͏...

OYO acquires US chain Motel 6 in $525 Mn deal, eyes global expansion

Hospitality
Motel 6, the iconic budget hotel chain known for its long-standing presence along U.S. highways, is set to be acquired by OYO, an Indian...

Oberoi Group to exit UAE as management contract for Al Zorah Resort ends

Hospitality
Oberoi Group, the luxury hotel chain, will no longer manage The Oberoi Beach Resort, Al Zorah,͏͏ following͏͏ the͏͏ termination͏͏ of͏͏ its͏͏ contract͏͏ with͏͏ the͏͏...

Taj Hotels becomes first Indian hospitality company to achieve INR 1 Lakh Cr market cap

Hospitality
St͏art͏ing ͏w͏i͏t͏h͏ a da͏i͏l͏y ͏ra͏t͏e of͏ IN͏R 6 ͏in 1͏903 at i͏ts͏ ͏in͏a͏ug͏ural͏ M͏umb͏ai (then B͏ombay) prop͏e͏r͏ty, Tat͏a G͏r͏oup͏’s ͏Taj͏ Ho͏tel͏s ͏h͏a͏s ͏now ͏achi͏eved...

Radisson Blu Guwahati to expand with 85 new rooms and 10,000 square feet

Hospitality
Radisson Blu Guwahati is expanding with 85 new rooms and an additional 10,000 square feet of space. The hotel currently offers 196 rooms. It has...

OYO turns profitable in FY24 with INR 229 Cr PAT, cutting employee costs by half

Hospitality
IPO-bound OYO turned profitable in the financial year 2023-24 (FY24) as it streamlined expenses and reduced employee costs. The unicorn reported a net profit...

Royal Orchid Hotels anticipates 80% occupancy in H2 2024

Hospitality
After a sluggish first quarter, Royal Orchid Hotels Ltd. expects occupancy rates to rebound to around 80% in the third and fourth quarters, according...
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