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American hospitality giant Wyndham sees big opportunity in India’s new hoteliers

Livemint

Livemint · 5m ago

American hospitality giant Wyndham sees big opportunity in India’s new hoteliers

Wyndham Hotels & Resorts is focusing on India’s new generation of hotel developers for expansion, seeing opportunities in the preference for owner-operated businesses. The company plans to grow its footprint in India without the costs of managing or owning properties, aligning with the country's infrastructure boom. Wyndham aims to expand its midscale and above hotel categories, benefiting from rising demands for cost-effective accommodations. The company prioritizes using cash flow to grow operations over stock buybacks.

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‘Luxury travel has hit its peak, budget hotels are the future’

Livemint

Livemint · 11m ago

‘Luxury travel has hit its peak, budget hotels are the future’

The consumption of luxury hotels worldwide has reached its peak and is now slowing down, according to Dimitris Manikis, the president of the EMEA region for Wyndham Hotels & Resorts. He mentioned that budget-friendly and mid-range hotels will dominate the future of hospitality, catering to the needs of the new consumer who seeks no-frills, economical accommodation. Despite this trend, Indian tourists are projected to spend $18.82 billion on overseas travel in 2024. Wyndham Hotels & Resorts plans to focus on economy and mid-market segments in India, with various new hotels in development.

Oyo to add over 1000 hotels under Accelerator Programme by December

Economic Times

Economic Times · 2y ago

Oyo to add over 1000 hotels under Accelerator Programme by December

OYO plans to expand its portfolio by adding over 1,000 hotels by December. The company aims to attract 100 first-generation hoteliers into its network, offering them the benefits of technology, marketing, and operational expertise. This initiative reflects OYO's strategy to strengthen its presence and provide support to small hotel owners, enabling them to thrive in the competitive hospitality industry. Oyo said it also plans to add over 100 first generation hoteliers operating these hotels across India.

Hoteliers look to better growth despite H1 occupancy dip

Livemint

Livemint · 7m ago

Hoteliers look to better growth despite H1 occupancy dip

In the second half of FY25, hoteliers are optimistic about continued revenue growth, driven by strong room rates and wedding season demand. Despite a slight occupancy dip, major hotel chains like Oberoi, Taj, and Lemon Tree have seen significant revenue increases. Future prospects are bolstered by infrastructure developments like new highways and airports, enhancing travel and demand. Additionally, approximately 120 new hotels opened in smaller cities, reflecting expanded capacity and solidifying the hospitality sector's growth outlook.

OYO Snaps Up Paris-Based Checkmyguest For $27.4 Mn: Report

Inc42 · 11m ago

OYO Snaps Up Paris-Based Checkmyguest For $27.4 Mn: Report

Indian hospitality startup OYO has acquired Paris-based Checkmyguest for a reported value of INR 230 crore ($31 million) in a cash and stock deal. Checkmyguest, valued at $110 million, provides property management software for hoteliers. The acquisition also includes Checkmyguest's housing renovation business HMG and luxury rental apartment management company Studio Prestige.

Fired Americans say Indian firm gave their jobs to H-1B visa holders

Livemint

Livemint · 1y ago

Fired Americans say Indian firm gave their jobs to H-1B visa holders

A group of American professionals has accused Indian outsourcing giant Tata Consultancy Services (TCS) of firing them and replacing them with Indian workers on H-1B visas. The American workers have filed complaints with the Equal Employment Opportunity Commission, alleging that TCS illegally discriminated against them based on race and age. TCS denies the allegations, stating that they have been an equal opportunity employer. The complaints raise concerns about how Indian IT companies utilize H-1B visas, which have long sparked worries about displacing American workers with cheaper foreign labor. The EEOC has yet to comment on the matter.

Germany's Hansgrohe accelerates India expansion with ambitious retail strategy

Livemint

Livemint · 1y ago

Germany's Hansgrohe accelerates India expansion with ambitious retail strategy

German sanitary fittings giant, Hansgrohe, is expanding its operations in India by opening 50 new stores across the country this year. The company currently operates in 78 Indian cities with 170 stores and is known for its high-quality faucets and showers. This expansion follows the launch of a new ceramics line, which is now locally assembled in India. Hansgrohe aims to capture a broader customer base and increase its presence in the premium segment of the luxury bathroom fittings sector. The company sees India as an exciting growth opportunity due to rising purchasing power and the growing demand for luxury home products.

Hyatt to tap into India's golden age with luxury hospitality offerings: CEO

Livemint

Livemint · 1y ago

Hyatt to tap into India's golden age with luxury hospitality offerings: CEO

Hyatt Hotels Corp. is focusing on the Indian luxury hospitality market by introducing its Miraval Resorts and Spas brand to cater to high-end guests. India is Hyatt's fourth largest revenue-generating market, and the company plans to double its current 48 properties within five years. They are also broadening their strategy to include smaller-inventory hotels for semi-urban areas. Hyatt acknowledges the shift towards domestic travel and aims to attract more Indian leisure travelers. The company sees India as a great opportunity with a strong economy and growing travel trends. Challenges include high capital formation costs and delayed infrastructure projects.

NapTapGo raises $500,000 pre-seed funding, backed by T9L Qube

Inshorts · 5m ago

NapTapGo raises $500,000 pre-seed funding, backed by T9L Qube

NapTapGo, India’s first pod hotel startup, has raised $500,000 in pre-seed funding, backed by T9L Qube. The startup aims to make budget travel more accessible with hygienic, tech-driven pods. With plans to expand to 80+ pods in five years, NapTapGo targets solo travellers and professionals. T9L Qube’s support strengthens innovation in India’s growing hospitality sector.

RBI rate cut to support growth; when credit offtake rises, so will deposits: Axis Bank CEO Amitabh Chaudhry

Economic Times

Economic Times · 1m ago

RBI rate cut to support growth; when credit offtake rises, so will deposits: Axis Bank CEO Amitabh Chaudhry

Axis Bank CEO Amitabh Chaudhry sees India’s growth largely unaffected by global challenges, with rate cuts expected to boost credit demand and, in turn, deposits. He's optimistic about Indian entrepreneurship, dismissing concerns over new generations favoring investments over business operations. The influx of Japanese banks in India doesn’t worry him, and he projects cautious optimism regarding deposit mobilization, credit growth, and private capital expenditure, underscoring that new entrepreneurs will drive growth in the coming years.

Grapevine: Mizuho withdraws from Yes Bank race; K Hospitality eyes IPO

VCCircle

VCCircle · 1y ago

Grapevine: Mizuho withdraws from Yes Bank race; K Hospitality eyes IPO

Japanese financial giant Mizuho has withdrawn from the race to acquire a stake in Yes Bank, leaving Sumitomo Mitsui Banking Corporation (SMBC) and Emirates NBD as the main contenders. Yes Bank is looking for a new owner after facing financial challenges in recent years. In other news, K Hospitality, an Indian hotel chain, is considering going public with an initial public offering (IPO) to raise funds for expansion and development.

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