Hotel investments in the first half, January to June of 2024, reached USD 93 million, with forecasted volumes of USD 413 million for the full year, a 22% increase from 2023, according to JLL’s Hotel Investment Trends – India H1 2024. Of the transaction volume, approximately 72% were related to operational hotels, 23% involved under construction hotels, and the remaining involved land leases. During the first six months of 2024, six hotel transactions were concluded, ranging from operational assets in Tier I and leisure markets to land leases in airport district for greenfield development. JLL anticipates that the remainder of 2024 will continue to benefit from the favorable trends observed in its first half. The second half of 2024 has already started positively, with two transactions facilitated by JLL in key hospitality markets, totaling USD 70 million. Tier I markets remain robust, accounting for 78% of the projected transaction volumes, while Tier II and III markets make up the remaining 22%. Listed hotel companies led the hotel transactions in the first half of 2024, with the upscale segment claiming the highest share of the total transaction volume (44%), followed by mid-scale (31%), luxury (23%), and economy (3%) segments. In the first half of 2024, a total of 19,442 keys were signed, with 83% of them located in Tier II and III cities. Management contracts accounted for the majority of signings (89%), followed by franchises (8%), and lease and revenue share agreements (3%). The number of greenfield projects in the first half of 2024 (around 13,700 keys) surpassed the count for the entire year of 2023 (~13,600 keys), demonstrating the enduring confidence of hotel developers in the sector’s long-term growth. Tier I …

Embark on a journey beyond tradition as the Tamilnadu Travel Expo invites the trade to delve deeper into the tapestry of this state. This annual event, held on Sept 20-22 in Madurai, goes beyond themes, showcasing the state’s hospitality, wellness retreats and wedding destinations. To register, write to info@tamilnadutravelexpo.com or call 8939997767

As part of their shared commitment to highlight Oman as a preferred tourist destination, Oman Air and the Ministry of Heritage and Tourism have joined forces for a special stopover promotion for passengers transiting through Muscat. Available until 30 November 2024, the offer provides a free one-night hotel stay for premium class passengers when booking a stopover in Muscat, while those traveling in Economy Class can enjoy two nights for the price of one. In addition, guests have access to exclusive discounts on tours, car hire, and other services, making it the perfect opportunity to explore Oman’s charming capital and beyond.

New Zealand’s tourism industry is facing a storm with the government’s recent decisions on increasing visa fees and the International Visitor Levy (IVL). Higher prices for tourist visas kick in from October 1, going from $131 to $211. Meanwhile its International Visitor Conservation & Tourism Levy (IVL) will also go up from $22 to 62 from October 1.

Accepting this recognition from DDP, Jay Bhatia, Managing Director, Tulsidas Khimji Holidays, and a ‘Pioneer in Industry Advocacy’, said, “This is my second one from DDP and after ten years this appreciation is yet again a humbling experience. It brings back responsibility and the hard work that has been put in over the last few years. Bringing in innovation is a challenge, and we work towards it every day.”

Tourism Office of Spain in India invites the travel trade to attend an exciting webinar on Ibiza, it’s biodiversity and it’s culture as it celebrates 25 years as a UNESCO World Heritage Site. The top scorer of the Ibiza quiz will win a self-drive trip in Ibiza, sponsored by Ibiza Tourism Board. For more information, contact jaspreet.kaur@ddppl.com or call 9650196532.

Winner of ‘Outstanding Leadership in Luxury Hospitality’ award and GM, Sofitel Mumbai BKC, Manish Dayya, says, “This year has been thrilling for us with numerous accolades, including the Green Key Certification. For Accor, sustainability is at the very core of our business – sustainable transformation is a commitment we take very seriously.”

Ebix Inc. announced that it has successfully completed its Chapter 11 restructuring process and has emerged as a financially and operationally stronger company that is well-positioned for the future. The 12,000+ employee Company is now debt-free worldwide. Ebix Founder, Robin Raina, will continue to serve as CEO and Chairman.

In a recent announcement, Puneet Chhatwal, CEO, IHCL, reaffirmed the company’s dedication to enhancing the tourism industry. He stated, “We will increase the commissions from 10% by 25%, which means they will go to 12.5% for all of you.” This exclusive incentive is available to IATO members only.

Bird Group is set to make significant strides in the Quick Service and Casual Dining sectors. With an ambitious plan to launch 20 outlets by the end of 2024, 35 by the end of 2025 and 50 by the end of 2026, Bird Foods, a dedicated business vertical of Bird Group, is poised to redefine the dining experience across India. These outlets will be strategically located in popular locations across tier 1, tier 2 and tier 3 cities, including Delhi NCR, Mumbai, Pune, Bangalore, Chennai, Dehradun, and Bhubaneswar. At present, Bird Foods boasts a promising retail presence with four QSR brands: Spice Nama at Omaxe Mall, Chandni Chowk; The Indian Stories at Pebble Downtown Mall, Faridabad and the Mall of Dehradun, Uttarakhand; KaChing at Mega Mall, Gurugram; and Eat.co at various locations, including Lucknow Airport Metro Station, Tughlakabad Metro Station and Old Delhi Railway Station (IRCTC Food Plaza). All these and future outlets will boast of proprietary technological initiatives redefining customer experience. “We are diligently executing strategic initiatives across all our business verticals, ensuring we not only meet but potentially exceed these targets. By staying true to our core values of quality, innovation, and customer satisfaction, we are confident in our ability to achieve these significant milestones and continue driving growth for our company,” said Rahul Sehgal, Business Head, Bird Foods. Bird Group has always been at the forefront of innovation in the Indian business landscape. Their foray into the Quick Service Restaurant (QSR) sector is a natural progression, rooted in their belief that good food, good value and excellent service have the power to bring people together, create memories, and elevate everyday moments. This new venture has quickly grown into a dedicated business vertical, offering a diverse range of …