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Royal Orchid looking to triple hotels to over 300, room count to 20k in 5yrs: CMD

Economic Times

Economic Times · 1m ago

Royal Orchid looking to triple hotels to over 300, room count to 20k in 5yrs: CMD

Royal Orchid Hotels Ltd plans to expand aggressively, aiming to triple its properties and rooms to over 300 and 20,000 in five years. Chairman Chander K Baljee outlined the strategy, including entering the budget segment with the 'Regenta Z' brand for Gen Z customers. The company plans to increase its workforce from 9,000 to 20,000 and introduce new brands like 'Iconiqa'. Additionally, Royal Orchid will integrate wellness and ayurveda concepts and incorporate AI for efficiency.

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Chalet Hotels will continue to invest in large inventory hotels

Livemint

Livemint · 1y ago

Chalet Hotels will continue to invest in large inventory hotels

Chalet Hotels, a subsidiary of K Raheja Corp, has plans to expand its portfolio of large inventory hotels by adding 800 rooms in the next three to four years. With a focus on capitalizing on demand generated by office spaces near its properties, the company aims to increase its total room count to 5,000. Unlike the trend of reduced asset ownership, Chalet Hotels focuses on growth in both its balance sheet and EBITDA. The company has collaborations with operators like Accor, Marriott, Hyatt, and Taj and is considering launching its own brand.

Hotels are having the best of both worlds: higher prices, more guests.

Livemint

Livemint · 10m ago

Hotels are having the best of both worlds: higher prices, more guests.

- Hotel room rates in India increased by as much as 70% in the last two years - Luxury hotels raised their average nightly rates by over 20% in 2023-24 - The number of hotels charging ₹7,500 or more per night nearly doubled in India - In FY24, hotels across India registered the highest occupancy rate in over a decade at 67.5% - India's branded hotel room supply is still significantly smaller compared to countries like the US and China - Big city hotels are the main drivers of the surge in pricing, with hotels charging ₹7,500 or more per night increasing from 156 to 229 in just a year

This hotel chain doubles down on spiritual tourism, luxury & metro hubs

Livemint

Livemint · 5m ago

This hotel chain doubles down on spiritual tourism, luxury & metro hubs

Sarovar Hotels & Resorts is expanding in India’s hospitality sector, targeting premium business hubs, leisure, and spiritual tourism. Operating 136 hotels, the company plans to add 16-20 properties this year, including international locations. Sarovar is experiencing double-digit growth, with a significant focus on spiritual destinations. The company is repositioning its Golden Tulip brand and considering introducing the upscale Royal Tulip to India, while seeking government support for hotel investments due to high costs and long return timelines.

‘Will deploy ₹800 crore to acquire new hotels by FY27’

Livemint

Livemint · 8m ago

‘Will deploy ₹800 crore to acquire new hotels by FY27’

Hospitality arm of Dharampal Satyapal Group (DS Group) is planning to expand its hotel portfolio from six hotels to 10-12 by 2027. The company is targeting both city and resort properties in high-growth regions across India, including tier I and tier II cities. DS Group aims to add 300 rooms by 2025 and another 500 by 2026, doubling its total room inventory to 2,000 by 2027. The company has invested INR 200 crore in expanding its existing assets and is focused on high-demand markets. DS Group is also leveraging its food and beverage businesses to enhance guest experiences.

Bengaluru sees ₹485 crore in hotel asset sales in a single day | Mint

Livemint

Livemint · 10m ago

Bengaluru sees ₹485 crore in hotel asset sales in a single day | Mint

- Samhi Hotels Ltd has acquired a 142-room, 4-star hotel in Bengaluru's Whitefield area for ₹205 crore. - Formerly managed by ITC under the Fortune brand, the property is now called Trinity Hotel and will become part of Samhi's portfolio. - Samhi plans to expand the property by adding 200-220 rooms in a separate building, rebranding it from upscale to upper-upscale. - Samhi's focus on Bengaluru aligns with its long-term growth strategy, given the city's strong demand growth driven by limited supply. - Juniper Hotels has secured a ₹280 crore deal to sell a 220-room, five-star hotel near Bengaluru airport to Lulu Group's Twenty Fourteen Hotels India Pvt. Ltd. - The Indian hospitality sector is witnessing a surge in transaction activity, with projected deal volumes expected to reach $413 million by year-end.

Chalet Hotels acquires Marriott property Courtyard for ₹315 crore

Livemint

Livemint · 1y ago

Chalet Hotels acquires Marriott property Courtyard for ₹315 crore

Chalet Hotels, part of K Raheja Corp group, has acquired Courtyard by Marriott Aravali Resort for ₹315 crore. The 158-room property was on the market for about a year. This acquisition aligns with Chalet Hotels' plans to add around 800 rooms to its portfolio. The company reported a net profit of ₹195 crore for the first nine months of the current fiscal year. Chalet Hotels collaborates with operators such as Accor, Marriott, Hyatt, and Taj, managing various properties across India.

IHCL, Ambuja Neotia Group ink pact for 15 new hotels, focus on east, northeast region

Economic Times

Economic Times · 18d ago

IHCL, Ambuja Neotia Group ink pact for 15 new hotels, focus on east, northeast region

Indian Hotels Company (IHCL) and Ambuja Neotia Group have announced a partnership to establish 15 new hotels in eastern and northeastern India, with an investment of up to ₹2,000 crore. The new sites will be a mix of greenfield, brownfield, and conversions across West Bengal, Sikkim, and Himachal Pradesh. This initiative aims to enhance tourism potential in the region. The partnership will increase their hotel count from 28 to 43, adding over 1,000 rooms.

GIC, SAMHI Hotels plan $300 mn hotel joint venture

VCCircle

VCCircle · 3m ago

GIC, SAMHI Hotels plan $300 mn hotel joint venture

Singapore's GIC and India's SAMHI Hotels will form a joint venture to develop upscale hotels in India, with plans for a $300 million equity investment. GIC will acquire a 35% stake in three SAMHI units running four hotels in Bengaluru and Pune, including two Marriott properties. GIC’s investment will help reduce SAMHI’s debt by 5.8 billion rupees, with additional funds allocated to a new Bengaluru hotel project.

Samhi Hotels' big bet: transitioning old office buildings into luxury hotels

Livemint

Livemint · 7m ago

Samhi Hotels' big bet: transitioning old office buildings into luxury hotels

Samhi Hotels Ltd is transforming old office buildings into luxury hotels, a trend initially seen in the US and China. They leased a building in Hyderabad's Hitech City to become a 170-175-room hotel managed by Marriott's W Hotel brand. This strategy allows faster, cost-effective growth, minimizing capital expenditure. With a portfolio spanning various segments, Samhi plans to add hotel rooms in cities like Bengaluru and Pune, aiming to boost their five-star offerings.

Q4 Results Preview: Hotel industry likely to post double digit growth in revenue

Livemint

Livemint · 1y ago

Q4 Results Preview: Hotel industry likely to post double digit growth in revenue

The travel industry is expected to see stronger earnings for the Q4FY24, driven by growth in hotels, luggage, and aviation sectors. The hospitality sector has shown healthy average occupancy levels and an increase in demand for meetings and events. New hotel openings have seen growth, while luggage companies like VIP and Safari Industries are expected to perform well. Chalet Hotels and Lemon Tree are expected to see growth in average room rates and revenue. Overall, the travel industry is poised for a positive quarter.

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