Category Archives: Hotels

The government has approved transfer of 3.7 acres of land at Pragati Maidan here to ITDC and ITPO on a 99-year lease for Rs 611 crore to set up a five-star hotel. Giving details, Information and Broadcasting Minister, Prakash Javadekar, said India Trade Promotion Organisation, which manages Pragati Maidan, will undertake a mega project to redevelop the land into a world-class International Exhibition and Convention Centre. The implementation of the International Exhibition and Convention Centre (IECC) project is in full swing and scheduled to be completed in the year 2020-21, said an official release. The approval has been given for “transfer of 3.7 acres of land at Pragati Maidan on a 99-year fixed leasehold basis at a price of Rs 611 crore in favour of the special purpose vehicle (SPV), which will be formed by India Tourism Development Corporation (ITDC) and Indian Railway Catering and Tourism Corporation (IRCTC) for development and operation of a five-star hotel.” In order to ensure completion of the hotel project in a fast track mode, the SPV will take necessary steps including selecting a suitable developer and operator third party through a transparent competitive bidding process to construct, run and manage (directly or through a professional brand) the hotel on a long-term fixed lease basis. Throughout the world, a hotel facility is an integral part of any Meetings, Initiatives, Conferences and Exhibitions (MICE) hub/destination, the release said. “Hotel facility will add value to IECC project and promote India as a global destination for trade and commerce along with employment generation,” it said. The International Trade Fair which has lakhs of visitors and small traders participating every year will also benefit from the transformation of Pragati …

Sarovar Hotels and Resorts has opened Shravanthi Sarovar Portico in South Bengaluru. This will be brand’s sixth hotel after Davanam Sarovar Portico Suites, La Marvella Sarovar Premiere, Radha Hometel, Radisson Blu and RBD Sarovar Portico. The hotel offers easy access to the Central Business District and electronic city and is in close proximity to major tech parks and entertainment hubs. It offers 80 newly renovated guest rooms, an all-day dining restaurant, club bar, fitness center and conferencing facilities. The redecorated lobby is spacious and comprises of a coffee lounge, just the perfect setting for relaxation or business networking. Shravanthi Sarovar Portico has different decorative themes on each of the four floors. From Scandinavian to Spanish county to Manhattan to the Royal, the hotel’s theme floors and rooms will leave the traveler with a signature experience akin to none. On the launch, Ajay Bakaya, Managing Director, Sarovar Hotels & Resorts, said, “We are happy to associate with Shravanthi Group for our new property in South Bangalore. We found great synergies with the group and are excited about our association. With an apt location and serene atmosphere, our new property will be a home away from home for both business and leisure travelers.”

In a recent interview, President and CEO of InterGlobe Hotels says, “We enter 2020 with enthusiasm and hope. We have 6 hotels with a total of approximately 1000 rooms under active development and are currently pursuing some very promising fresh deals in Pune, Goa, Mumbai, Hyderabad and Bengaluru. We expect the operating performance to generally improve as the fundamentals of the industry remain strong with a slowing supply graph and an improving demand curve which has historically been in the 8-10% range.”

Goldstone Hotels & Resorts has spread its wings in the state of Bihar as the brand is set to launch two new properties; one at Motihari which will open next week and the other one in Patna, which will be unveiled in the next 15 days. Sandeep Singh, Managing Director Goldstone Hotels says, “The brand’s presence in the state was long due and we aim at having at least 7 more properties in Bihar by the end of this financial year to cater to every segment of clientele.”

The Hotel Momentum India report by JLL revealed that 15% of new hotels signed in Q3 2019, in India were conversions of old hotels. The report also highlighted that domestic hotel operators signed more properties than international hotel operators with the ratio of 67:33.

In a recent report released by JLL India, Hotel Momentum India (HMI) Q3 2019, 19 branded hotels with 1256 rooms open in Tier II & III cities in the third quarter of this year. However, Tier I cities opened 3 branded hotels with 218 rooms and signed 2 branded hotels with 74 rooms. The reports also shows that 4 luxury hotels were signed during the same quarter consisting 282 keys.

In a recent interview, Atul Jain, COO, Best Western Hotels & Resorts, India, Bangladesh & Sri Lanka, said, “Best Western is already one of the most popular international hotel brands in India, and apart from reinforcing its presence, we’re also focussed on opening hotels with other brands in the portfolio to show that we have much more to offer. We have been experiencing a remarkable growth and penetration into diverse markets in India in the past three years, and we hope to gather more pace with the opening of ten more hotels in the next six months that will take our tally to 2,000 operating keys. This would be followed by the opening of over 1,000 keys in the pipeline. The new hotels shall operate under Best Western, Best Western Plus, SureStay Plus and SureStay Hotel by Best Western brands in locations across India.”

Marriott International and Prestige Group has announced the signing of agreements to open six new hotels across India. Under the agreement, Prestige Group would build new hotels across the W, JW Marriott, Tribute Portfolio and Moxy brands across India’s Southern belt, representing nearly 1,000 rooms across four brands. Prestige Group, plans to open the W Bengaluru, Tribute Portfolio Resort Bengaluru, Tribute Portfolio Hotel Kochi Maradu, JW Marriott Bengaluru Prestige Golfshire Resort & Spa, Moxy Chennai and Moxy Bengaluru, all ofwhich are expected to open between 2021 and 2025.

STR’s hotel pipeline data for the Asia Pacific region showed 2,039 projects accounting for 450,231 rooms in construction as of October 2019. This represented a 20.7% year-over-year increase in the number of rooms in the final phase of the development pipeline.  Five countries reported more than 20,000 rooms under construction including India where 24,892 rooms are under construction showing a growth of 8.3% over last year.

Bengaluru recorded highest RevPAR % change in Q3 2019 over the same period last year with 11%, followed by Gurugram with 9.5% and Hyderabad with 6.9% RevPAR change. The Hotel Momentum India (HMI) report for Q3 2019 has revealed that 9 out of 10 markets in India recorded an increase in RevPAR Performance in Q3 2019 over the same period last year. Mumbai came out to be the winner all across when it comes to RevPAR in absolute terms.