Hotels / Restaurants
Espire Hospitality plans to have 20 hotels by FY25 with Rs 560 crore capex
Espire Hospitality Group plans to expand its portfolio to 20 properties by 2024-25, with an investment of Rs 560 crore. The group currently operates 10 hotels and will add 200 more keys this year. The capital expenditure will be used for renovating, leasing, and upgrading existing properties. The company is exploring opportunities in leisure destinations like Goa, Uttarakhand, Rajasthan, and Himachal Pradesh, as well as tier I cities.
Espire Hospitality Group to expand its luxury portfolio, to add three ZANA resorts
Espire Hospitality Group has launched its new resort, 'ZANA Forest Resort, Ranthambore,' near Ranthambore National Park and Tiger Reserve. This is the second resort under their 'ZANA - Luxury Escapes' brand. The resort offers 20 cottages and rooms, along with amenities such as tennis and badminton courts, football, billiards, and karaoke.
Pune's Kayani to Kolkata's Flurys: Six iconic Indian spots named among 'most legendary dessert places in the world'
Popular food guide 'Taste Atlas' has released a list of the 150 most legendary dessert places in the world, and there are many Indian entries featured on it.
IHG Hotels & Resorts & K Raheja sign two hotels in Powai, Mumbai
IHG Hotels & Resorts has partnered with Nikhil K. Raheja and Vijayta Raheja to expand its portfolio in Mumbai. The partnership will see the launch of a new five-star brand, voco, and a Holiday Inn Express & Suites property in the city. IHG has signed a management agreement with Saryu Properties & Hotels to convert two hotels in Mumbai into voco Mumbai Powai Hotel & Convention Centre and Holiday Inn Express & Suites - Mumbai Powai.
Hotel industry deals surge 140% in H1 2023
The hotel industry in India experienced a significant increase in transactions, reaching $175 million in the first half of 2023, a 140% rise compared to the previous year. This growth was attributed to India's outlier status in the APAC market, where hotel deal volumes declined. The development pipeline has slowed down, leading to more trading of operating assets. Experts predict that India's hotel investments will continue to increase in the coming years, potentially reaching the level of markets like Thailand.
Churchill's Old War Office launched as luxury hotel by Hinduja Group
The Indian-origin Hinduja Group conglomerate and the UK's richest family had acquired the landmark on Whitehall, opposite Downing Street, over eight years ago and tied up with Raffles Hotels to transform the building into an extravagant hub complete with luxury residences, restaurants and spas.
Nagaland to welcome its first 5-star properties through Hotel Polo Towers Group and government partnership
Hotel Polo Towers Group is a hospitality group with a strong presence in the Northeast. The group currently has nine operational hotels and five in development. The agreement encompasses the development of a 5-star hotel with a mall in Dimapur and a 5-star hotel in Kohima. The projects include more than 200 extravagant rooms across both hotels. The approximate direct and indirect investment in these projects is estimated at 150 crore.
IHCL expands footprint in Sikkim with opening of Taj Guras Kutir Resort & Spa in Gangtok
Indian Hotels Company (IHCL) has opened the Taj Guras Kutir Resort & Spa in Gangtok, Sikkim, as part of its expansion plans in the region. The 69-key resort, situated on 14 acres, showcases Sikkimese aesthetics and contemporary design. Each room features a unique Thangka, a local Buddhism-inspired painting.
The Oberoi Amarvilas, Agra only Indian hotel to feature in Inaugural Ranking of the World’s 50 Best Hotels 2023
The Oberoi Amarvilas in Agra, India has been named the only Indian hotel on The World's 50 Best Hotels 2023 list. The list recognizes hotels from 35 destinations worldwide and marks the first global ranking release by 50 Best since 2009. The Oberoi Amarvilas is located near the Taj Mahal and its selection reflects the dedication and allure of the property.
Mumbai's 'Bademiya' eatery sealed after cockroaches, rats found in kitchen in FDA raid
FDA raids on top Mumbai eatery 'Bademiya' over unhygienic food. Rats & cockroaches found inside kitchen.
Mahindra Holidays to invest Rs 1000 crore in Uttarakhand
Mahindra Holidays & Resorts has signed an MOU with the government of Uttarakhand to invest Rs 1000 crore in building four to five resorts over the next few years in the state. The company aims to become a strategic partner of the state and expand its key count from 5000 to 10,000 by 2030.
Must Watch
Samhi Hotels garners Rs 617 crore from anchor investors
Samhi Hotels has raised Rs 616.54 crore from anchor investors before its initial share sale. The company has allocated equity shares to 35 entities at an average price of Rs 126 apiece. Anchor investors include SBI Mutual Fund, Aditya Birla Sun Life MF, ICICI Prudential MF, and Tata MF. The IPO comprises fresh issuance of equity shares worth up to Rs 1,200 crore and an Offer For Sale of up to 1.35 crore shares. Samhi Hotels acquires/builds primary hotels and currently owns 4,800 keys across 31 operating hotels.
Bank of Maharashtra invites bids for loans of Asian Hotels (North)
In a rare development, Bank of Maharashtra is expecting full recovery of dues from the sale of the loans to a hotel, owned by the Jatia Group. It has set a reserve price of Rs 330 crore against Rs 324 crore dues, the bank said in a note to the asset reconstruction companies last week. Reeling under Covid 19, in December 2020, the company entered a one-time restructuring (OTR) with lenders.
Months of prep and non-stop work: How hotels made room for success
The hospitality industry in Delhi ensured a comfortable stay for G20 delegates during the summit. Over 2,000 room nights were booked in top hotels, including Taj, ITC Maurya, The Lalit, and Le Meridien. The catering at Bharat Mandapam was handled by ITC chefs, who delivered over 100,000 covers and provided a variety of cuisines.
Bengaluru eateries to offer paper napkins only on demand
The Bruhat Bengaluru Hotels Association (BBHA) in Bengaluru, India, has called on its approximately 40,000 member-establishments to minimize the use of paper napkins and offer them to customers only upon request. Currently, BBHA's members consume 10 tonnes of paper napkins daily.
Brookfield to invest Rs 1,500 crore more in Leela
"Our business in India has a very large real asset component where we can play in multiple categories as Brookfield Asset Management. If I wear my Brookfield hat, we can invest in any type of hospitality play. We can invest in select service, we can invest in mid scale, we can invest in upper upscale besides luxury. We can invest in resorts, we can invest in city hotels, services, and we are evaluating all of these concepts on a regular basis. As far as the Leela business is concerned, it's a real play on luxury, and that will remain the core of that business," Gupta said.
