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Reliance Industries and Oberoi to jointly manage luxury hotels in India and UK

Livemint

Livemint · 1y ago

Reliance Industries and Oberoi to jointly manage luxury hotels in India and UK

Reliance Industries partners with Oberoi Hotels to manage properties in India and the UK, including Anant Vilas in Mumbai and Stoke Park in the UK.

Related News

Wyndham partners with Cygnett to introduce La Quinta and Registry Collection Hotels in India

Economic Times

Economic Times · 28d ago

Wyndham partners with Cygnett to introduce La Quinta and Registry Collection Hotels in India

Wyndham Hotels & Resorts has partnered with Cygnett Hotels & Resorts to introduce its La Quinta and Registry Collection brands in South Asia. This strategic alliance will add over 60 hotels in India, Bangladesh, Sri Lanka, and Nepal over the next decade. The La Quinta brand will feature more than 50 properties, offering modern amenities and value, while Registry Collection Hotels, co-branded with Cygnett's luxury line Anamore, will establish 10 luxury accommodations.

RIL to invest Rs 50,000 cr in Assam in five years; set up AI data centre, mega food park, double Reliance Retail stores: Mukesh Ambani

Business Today

Business Today · 5m ago

RIL to invest Rs 50,000 cr in Assam in five years; set up AI data centre, mega food park, double Reliance Retail stores: Mukesh Ambani

Reliance Industries Limited (RIL) plans to invest Rs 50,000 crore in Assam over the next five years, establishing an AI data centre, a mega food park, and doubling Reliance Retail stores. Announced at the Advantage Assam Summit, the investment will also support compressed biogas hubs and a seven-star Oberoi Hotel. This initiative is expected to create significant employment opportunities and benefit sectors like agriculture and bamboo, enhancing Assam's presence in national development.

Hilton to go big on luxury expansions in India, eyes 10-fold growth in a decade

Business Today

Business Today · 3m ago

Hilton to go big on luxury expansions in India, eyes 10-fold growth in a decade

Hilton plans to expand significantly in India, doubling its brand footprint within five years and launching its first LXR Hotels & Resorts in Bengaluru by 2026. The company aims for a tenfold increase in Indian hotels over the next decade. Recognizing India as a critical market, Hilton will strategically expand its portfolio across luxury and economy segments. Upcoming projects include the Curio Collection and Signia by Hilton, indicating a focus on luxury growth.

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

‘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.

Reliance’s lifestyle brands endured a tough FY24

Livemint

Livemint · 1y ago

Reliance’s lifestyle brands endured a tough FY24

Reliance Brands, owned by Mukesh Ambani's Reliance Industries Limited, experienced a challenging financial year with most of its businesses facing weak performance. Reliance Brands, which owns over 50 international fashion labels, reported widening losses despite an increase in total revenue. The company's designer brands also struggled, reflecting a challenging environment in the luxury fashion sector. The shift to online shopping and reduced footfall in physical stores may have contributed to the decline in sales.

Real estate majors are coming for the hotel industry bearing a ₹10,000-cr purse

Livemint

Livemint · 1y ago

Real estate majors are coming for the hotel industry bearing a ₹10,000-cr purse

Indian property developers are increasingly investing in the hospitality sector, attracted by its rapid growth and high yields. Prestige Estates Projects, for example, signed a deal with Marriott International to manage six of its upcoming hotel projects. Meanwhile, other developers such as D B Realty, House of Abhinandan Lodha, DS Group, and K Raheja Corp's Chalet Hotels have earmarked substantial budgets for hotel development and management. Major industry players like Hyatt Hotels Corp are also focusing on India's hospitality industry, particularly in the luxury segment. This surge in investment highlights the sector's "golden era" and the potential for sustained growth in the Indian hotel industry.

Alpha Wave bets $145 mn on Oberoi Realty group firm

VCCircle

VCCircle · 4m ago

Alpha Wave bets $145 mn on Oberoi Realty group firm

Alpha Wave Global is investing $145 million in a joint venture with Oberoi Realty and its chairman, acquiring a 21.74% stake in I-Ven Realty Ltd. This joint venture focuses on real estate projects. Additionally, I-Ven will raise about $20 million from existing shareholders. The funds will primarily repay loans from Oberoi Realty and reduce current promoters’ stakes. Initially formed in 2003, the venture plans to develop a luxury mall and other facilities on a Mumbai land parcel.

IHG Hotels & Resorts shifts gears in India, to double presence after slow start

Livemint

Livemint · 1y ago

IHG Hotels & Resorts shifts gears in India, to double presence after slow start

IHG, the hospitality group behind InterContinental, plans to double its operating hotels in India over the next five years. The company recently signed 13 new deals and will focus its expansion in cities such as Gurugram, Mumbai, and Goa. While IHG acknowledges that its presence in India is currently small compared to other markets like China, it sees great potential due to strong GDP growth, a growing middle class, and increasing infrastructure investments. The company aims to cater to the diverse needs of the Indian market, including budget hotels and luxury brands like Six Senses and Regent Hotels & Resorts.

40% of Indian IPOs of 2024 dip below issue price

Inshorts · 8m ago

40% of Indian IPOs of 2024 dip below issue price

Around 40% of the Indian companies that went for IPO in 2024 have shares falling below their issue prices, Moneycontrol reported. Ola Electric Mobility, Saraswati Saree Depot, ECOS India Mobility, Apeejay Surrendra Park Hotels, and Northern Arc Capital are among those trading below their issue prices. Overall, 75 companies have jointly raised over ₹1.2 lakh crore through IPOs this year.

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