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Hotels / Restaurants
OTAs, hotels, airlines launch 'festive' offers to boost bookings further
For the first time, Cleartrip has partnered with Flipkart for the big billion days sale that goes on till October 10 and offers a flat 20% discount on domestic flights, a full refund on flight cancellations at Rs 1, and upto Rs 25,000 off on international flights among other offers.
Hotels and restaurants set for bookings bonanza in October on back of pent up demand
ITC Hotels chief executive Anil Chadha said going by the current trend and surge in domestic traffic, bookings are expected to continue into the New Year. "We are seeing huge traction at leisure destinations pan India, with some destinations doing exceedingly well," Chadha said.
It’s check out time: Hospitality industry players eyeing lucrative deals from distress sales of hotels
Hospitality industry players who want to expand their portfolio are watching keenly as they expect distressed companies to soon default on loans and come up for sale.
Indian travel service providers laud Indian government's tit for tat move for UK nationals
"Right now there is no tourism coming in, so it will impact some commercial travel. Quite frankly, one is fed up with the attitude of the West," said Rajeev Kohli, joint MD of Creative Travel that specialises in inbound travel.
Oyo's aggrieved hotel owners planning to approach Sebi after co files DRHP papers
Federation of Hotel & Restaurant Associations of India, which had filed a complaint against the company in the CCI, said the investigation is ongoing and ‘many’ Oyo partners have indicated that they will approach Sebi and the finance ministry.
Restaurant industry wants clarity on GST on Swiggy, Zomato
The GST Council has said that food delivery platforms such as Swiggy and Zomato should cough up 5% GST, just like restaurants.
Domestic tourism above levels seen pre-pandemic, in Q2, says IHCL MD, Puneet Chhatwal
The day corporate travel comes back to 80-90% of pre-Covid levels in markets such as Delhi, Mumbai and Bengaluru, the total revenue of the hospitality industry should exceed pre-Covid levels, provided the leisure business stays the same, said Chhatwal.
Oyo to move ahead with IPO plans, Delhi HC to hear Zostel case on October 7
While Oyo has challenged the SC-appointed arbitrator's order passed originally in March over the dispute, Zostel moved an application late last month seeking to restrict Oyo from modifying its shareholding structure or cap table, including by way of an IPO.
Massive Restaurants considering expanding to US, besides Canada
The chain will expand to Canada through a Farzi Café in the middle of October and will have 25 operational cloud kitchens by the end of this year, up from seven currently. It will open its cloud kitchen brand Louis Burger, currently present in Mumbai, on October 15 in Delhi, Noida and Gurugram and has eight franchised Farzi Café outlets in the pipeline.
Exclusive: Zostel's petition in Delhi HC adds a legal twist to Oyo's IPO saga
Hospitality startup approaches Delhi High Court to restrain Oyo from modifying its shareholding structure or cap table including by way of an IPO. Oyo is also seeking a stay on the arbitrator award.
Hospitality sector should do well in the second quarter of this year, occupancy levels going up month on month: Puneet Chhatwal, MD and CEO, IHCL
"The business in quarter two should be better than quarter three of the last fiscal for the sector. Domestic tourism has taken a very strong charge. Most of the leisure destinations are outperforming themselves compared to pre covid levels. Our hotels in Theog, Rishikesh, Goa and Rajasthan have done well. Corbett, a small and off beat destination is doing double the pre Covid numbers,” said Chhatwal.
Wyndham to open newly built Ramada Plaza hotel during summer 2022
Wyndham, with nearly 50 hotels all across India and three in Mumbai, has 34 additional hotels in the development pipeline across the Indian sub-continent.
Treebo's Hotel Superhero appoints former Sabre executive Karthick Prabu as head of product management
Hotel Superhero, which recently announced an investment from and a technology partnership with hospitality group Accor, offers a cloud-based hotel management software which helps hotels drive higher revenues and guest satisfaction, as well as reduce operating expenses.
Oyo eyes over $12 billion valuation in IPO, founder not to offload stake
Oyo is looking to raise $1-1.2 billion largely by issuing fresh stock in the IPO. Existing investors would sell some stake via an offer for sale, but founder Ritesh Agarwal is unlikely to sell any of his 30% stake in Oravel Stays.
Bookings up in many hotels as India Inc gets moving again
At Aero City in the national capital, hotels of multinational hospitality chain Accor, the largest operator in the area with around 1000 rooms are buzzing with activity, clocking occupancies of around 78%.
Oyo Hotels may file draft red herring prospectus next week for $1 billion IPO
The IPO, tentatively pegged at between $1 billion and $1.2 billion, will consist of a fresh issue of shares and an offer for sale (OFS) from existing shareholders, the sources said. The SoftBank-backed firm has appointed Kotak Mahindra Capital, JP Morgan and Citigroup to manage the public issue.
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