Tag Archives: investment

The IPO of Mach Conferences and Events was subscribed 196.70 times. Notably, retail investors demonstrated strong enthusiasm, with a subscription ratio of 136.49 times. The issue being oversubscribed 196.78 times, received bids for over 72.6 crore shares against 36.9 lakh shares offered for subscription. 

UNWTO has identified investments as one of the key priorities for tourism’s recovery and future growth and development. For World Tourism Day 2023, UNWTO highlights the need for more and better-targeted investments for people, for planet and for prosperity.

Fly Bharathi Aviations and Aeronautics is ready to kickstart its aviation journey in the Indian skies. The company has signed an MoU with UK- based SRAM and MRAM Group for an investment worth $1.8 billion. The fund will be utilised for the expansion of both domestic and international aviation business. 

The Government of Odisha has approved eight more investment proposals worth Rs.1,649.49 crore in the 89th State Level Single Window Clearance Authority (SLSWCA) meeting, out of which two are hotel proposals. The projects were approved in food processing, chemicals, plastics, tourism, steel downstream and infrastructure and will create employment opportunities for 1,450 people. In the tourism sector, a project by M/s Apeejay Surrendra Park Hotels Ltd. for expansion of its five-star hotel with an investment of Rs 150 crores, has been approved which will provide employment for 150 people and another proposal by M/s Kamat Hotels (India) Ltd. for expansion of its five-star hotel, with an investment of Rs. 52 crore has also been approved and it will provide an additional employment to around 160 people.

Minor Hotels has announced its stake in the Global Hotel Alliance, (GHA). Following this shareholder announcement, Dillip Rajakarier, CEO, Minor Hotels, will now join the GHA Board of Directors. The investment is worth a total of $3.2million, representing a 10 per cent share of the Global Hotel Alliance. First entering with the Anantara brand, Minor Hotels have been longstanding members of the GHA since 2007. As the GHA will enter its 15th year in 2019, Minor Hotels took the opportunity to support the alliance which is currently investing in new CRM and shared technology to build on the success of the Discovery loyalty programme. Dillip Rajakarier, CEO, Minor, commented, “Since joining the GHA in 2007, we have grown and developed our own brands and continue to acquire new ones, and membership of GHA fits well with our multi-brand strategy. GHA has consistently demonstrated the value of global customer reach and a strong CRM and loyalty programme for our hotels, and so we are delighted to be able to take our place as a shareholder in the business, with the opportunity to help guide its growth over the coming years.” He added, “The 13 million Discovery members will produce US$1.7 billion in room revenues in 2018, of which around US$125 million is from customers moving between our member brands. We plan to double those numbers in the next few years, as independent brands look to collaborate with each other to share the common challenge of competing with the ever-consolidating major brands and third party distribution providers.

The direct contribution of travel and tourism sector — which reflects the net value of output generated by hotels, airlines, travel agents, other passenger transportation services (excluding commuter services), and restaurants and leisure industries directly supported by tourists — was expected to rise 6.9 per cent YoY in 2017, suggests a FICCI-KPMG report. This accounts for 3.3 per cent of the country’s GDP, and is expected to form 3.5 per cent of it by 2027. In accordance with its GDP contribution, the sector contributes significantly to job creation. The sector directly accounts for 5.8 per cent of the total employment in India. Further, the Indian travel and tourism sector is expected to have attracted capital investment of Rs 2,387.7 billion (USD35.2 billion) in 2017 — accounting for 5.7 per cent of the total national investment.