Category Archives: Hotels

Mumbai leads in terms of hotel occupancy in India: HVS

Mumbai is leading in terms of hotel occupancy (74.2%) as per a report by HVS Global Hospitality Services. According to the report as expected in the second year of the up-cycle, all major markets tracked  witnessed an increase in Revenue per available room (RevPAR) except for Agra. Interesting to note, Noida saw the highest year-on-year growth in RevPAR (16.0 %), followed by Hyderabad (11.4%) and Ahmedabad (10.7%). Noida displayed the lowest occupancy (56.9%) and Ahmedabad, the lowest average rate (3,840), the study said. All 13 hotel markets depicted an increase in occupancy leaving Pune (-0.7%), even as some markets saw a lower growth (Bengaluru and Mumbai at 0.4% and 0.6%, respectively) compared to others (Ahmedabad and Noida at 12.0% and 11.7%, respectively). In 2016/17, only two cities showed a decline in average rates – Agra, which witnessed a steep decline of 8.9% over 2015/16 and, Ahmedabad, which witnessed a minor decline of 1.1%. Goa registered the highest yearon-year increase of 7.3% in average rate, followed by Pune (5.7%).

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New opened hotels in India averaged 45.9% occupancy: Report

Hotels that opened in 2015-16 in India  averaged 42.7 per cent and, new openings of 2016-17 averaged  45.9 per cent occupancy in their very first year, according to a report by HVS Global Hospitality Services. Similarly, while  first year ARRs were successively lower than their  preceding years from 2012-13 to 2014-15, the ARR for  hotels that opened in 2015-16 and 2016-17 have seen  an increase in comparison to their preceding year, the report said. Both these figures, coupled with the demand-supply  outlook for the next sixty-months, further corroborate our view that most  markets in India are at a point where both occupancy and ARRs can substantially improve. The question is whether the sector’s stakeholders will truly manage to capitalise  on the evident opportunity, or do we still need to live by  the adage, the report said.

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OYO acquires wedding banquet company

OYO Hotels has announced the acquisition of wedding banquet company Weddingz.in to expand its playfield to real estate sector. Globally, the wedding industry has grown to become a $500 billion market and OYO’s sharp focus on global expansion will support its debut in disrupting these markets. Commenting on the development, Maninder Gulati, Chief Strategy Officer – OYO, said, “What this partnership facilitates is combining OYO’s capabilities of asset management and technology with the scale Weddingz.in offers in India’s fragmented $40bn weddings industry. The company has a healthy scale of managing 1,500-plus wedding events per quarter, with an inventory size of over 40 banquets spread across Mumbai and Delhi.’’ With more than 10 million marriages in India held annually, the segment holds immense potential for innovation, improvement and standardization of processes. “Weddingz.in is India’s largest banquet management company specialising in weddings led by an extremely ambitious founder Sandeep Lodha and his talented team and the value proposition they bring to the table via skills in managing weddings is clearly visible in their dominance and popularity.’’ added Maninder. Sandeep Lodha, Founder, Weddingz.in, commented, ‘’This alliance will work towards simplifying wedding planning for Indians while tapping the enormous opportunities this space offers.”    

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IHG signs deal for four Holiday Inn hotels to develop Buddhist Circuit

InterContinental Hotels Group (IHG) has signed a management agreement with Lotus Trans Travel to establish a four hotel portfolio under the Holiday Inn banner. Slated to open between 2020 and 2023, Holiday Inn Bodhgaya, Holiday Inn Kushinagar, Holiday Inn Gorakhpur and Holiday Inn Shravasti together will add over 450 rooms to IHG’s system and establish the company’s presence at the Buddhist tourism circuit. As a part of the agreement, Holiday Inn hotels in Bodhgaya, Kushinagar and Shravasti will be refurbished and upgraded to ensure the portfolio is fully representative of the Holiday Inn brand globally. Holiday Inn Gorakhpur will be will be a new build hotel. Bodhgaya in Bihar, Gorakhpur, Shravasti and Kushinagar in Uttar Pradesh are some of the main pilgrimage centres for Buddhism in India and together form a part of ‘The Buddhist Circuit’ in the country that drives a great deal of religious visitors and international travellers to these states. Sudeep Jain, Vice President—Development, South West Asia, IHG said, “We are excited to be collaborating with Lotus Trans Travel, who have a strong presence and a deep market understanding of Buddhist destinations in India. This signing adds to the rapidly growing presence of our well-recognised Holiday Inn brand across the country.” Karan Rai, Director, Lotus Trans Travel, added, “We feel there is a need for quality branded accommodation in cities with immense travel potential such as Bodhgaya, Kushinagar, Gorakhpur and Shravasti, and are delighted to be partnering with IHG for our business in these markets.”

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OYO enjoys robust business growth in China while continuing dominance in India

Expanding its presence in China in November 2017, OYO has grown its presence in the country by 50,000 exclusive rooms with a strong presence in cities including Hangzhou, Xian, Nanjing, Guangzhou, Chengdu, Shenzhen, Xiamen and Kunming among others. It recently launched its exclusive hotels in Hulunbeier City, Sanya City and Hainan Province. Commenting on the business performance, Ritesh Agarwal, Founder & CEO, OYO said, “We are thrilled with the response OYO Hotels has received in China. It is well-established that there is a great demand for good-quality accommodation among the 400 MM middle income people in the country. July was a milestone month where we added 25,000 rooms to our chain and look forward to achieving a similar feat in the coming months. It’s been a truly exciting journey for us and we believe that the innovation and R&D being offered in China will assist us and the mission globally.” With its unique business model, OYO works in close proximity with its hotel partners while ensuring a quality living experience to guests, promising benefits to both. In India, OYO has a 100,000-exclusive-rooms strong chain with a presence in over 160 cities with Malaysia and Nepal as the other two international destinations where the chain is present.

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10 out of 11 Indian cities registered increase in average daily rates this year

Ten out of eleven markets registered stability or increase in average daily rate (ADR)s in the first half of the year, according to recent report by leading investment firm, JLL. Mumbai is the leader in absolute RevPAR and Delhi is the leader in RevPAR percentage change in H1 2018 over the same period last year. Raj Rana, Chief Executive Officer- South Asia, Radisson Hotel Group said, “The overall business sentiment in the hotel industry has been high in 2018 and it may well be marked as the beginning of a sustainable upswing. Buoyed by occupancies touching 70 per cent in many markets and average rates registering improvement, the industry seems to be headed in the right direction. Having braved some early headwinds last year, the industry seems to have regained strength on the back of growing demand, slowing down of supply and various initiatives taken by the government.”

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Niraamaya Retreats debuts in North India with Royal Heritage Haveli, Jaipur

Niraamaya Retreats, a collection of boutique properties across India, has announced its first foray in North India to operate and manage Royal Heritage Haveli in Jaipur. Located on the outskirts of the city, the haveli offers unique experiences such as destination cued dining, cooking sessions revealing the secrets of the family’s favourite recipes passed down generations, a hands-on hand-block printing workshop and a private class of Polo at a nearby farm. Elaborating on the expansion, Manu Rishi Guptha, CEO, Niraamaya Retreats, said, “Our entry in to North India is a big step towards establishing a significant pan-India presence for the Niraamaya brand. Each of our properties brings a unique combination of local and cultural activities complimented with the boutique Niraamaya experience. We are delighted to mark our debut in Rajasthan with the iconic Royal Heritage Haveli which has all the hallmarks of a magnificent boutique property which entails a rich heritage, a serene location and most importantly the gracious hospitality of the noble family who interacts with the guests.” Built in the 18th century as a hunting lodge for the Jaipur royal family, the sprawling five-acre property offers 19 spacious suites. Built in the Indo-Saracenic style of architecture, each of the living spaces has a unique character which exudes regal charm and features well-appointed interiors that provide the highest standards of luxury and comfort.    

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Ginger Hotels signs new property in Bharuch, Gujarat

Ginger has signed a new hotel in Bharuch, a key city of Gujarat. The brand is already present in six cities in the state with hotels under development in Surat and Sanand. With this new addition, Ginger will have 10 hotels with a combined inventory of close to 800 rooms in Gujarat. Deepika Rao, Managing Director and Chief Executive Officer, Ginger said, “We are delighted to expand our presence in Gujarat and enter Bharuch by partnering Hotel Sethna Plaza Annexe. The modern day Bharuch is one of the biggest industrial areas in the state. The hotel will be ideally located to cater to the business guests.” With 55 comfortable rooms, an all-day diner, a banquet hall and a fitness centre; the new Ginger is located just a few minutes from the railway station amidst a commercial hub catering to chemical, textile and pharmaceutical companies. The hotel is a management contract and is slated to commence operations in 2019.    

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The Fern Residency opens in Yeshwanthpur, Bengaluru

The Fern Hotels & Resorts has started managing The Fern Residency, Yeshwanthpur-Bengaluru in Karnataka. With this opening, the tally of the hotels managed by the group under The Fern Residency brand goes up to 22 hotels. Located 30 kms away from the Kempegowda International Airport, The Fern Residency, Yeshwanthpur is a mid-scale business and leisure hotel with 64 well appointed rooms. Suhail Kannampilly, COO, The Fern Hotels & Resorts, said, “The Fern Residency, Yeshwanthpur strives to offer excellent services with affordable pricing. I am happy that guests to Bengaluru and local residents will be able to experience our ​services at our second hotel now open in the Garden City.” ​The hotel has large banquet facilities and latest business services​ for the discerning  business traveller​. Guests can enjoy various facilities such as high-speed Wi-Fi, LCD TV, digital in-room safe, in-room tea and coffee, minibar, etc.

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OYO signs MoU with SBI & Bank of Baroda to offer financial fillip for small hotels

OYO Hotels has inked MoUs with the State Bank of India and Bank of Baroda for extending its support to budget hotels and creating jobs across levels. Signed under the aegis of the Pradhan Mantri Mudra Yojna, the MoUs will enable financial support for OYO’s existing and potential hotel partners for fuelling transformation and standardisation at their properties. This will also allow OYO to spearhead the creation of thousands of jobs in Tier II and III cities by nurturing micro-entrepreneurs in the hospitality sector. Speaking on the development, Jayant Chauhan, SVP – Fintech, OYO, said, “We are thrilled to join hands with banking powerhouses – the State Bank of India and Bank of Baroda and achieve the mission of job creation in the country by enabling the youth to emerge as micro entrepreneurs and run their own successful businesses. These MoUs will help us in shortening the demand-supply gap of quality accommodation by offering hoteliers a platform to transform their property and enhance the business by creating beautiful living spaces.’’ As a step towards enabling convenient financing for its asset partners through banks and NBFCs, OYO has also established an in-house Fintech division. These loans will help individuals hailing from Tier II and III cities to be self-employed and run their own budget assets with OYO’s diverse brand portfolio.  

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