Category: Stays

ITC subsidiary Fortune Hotels to open a new hotel every month in FY25

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The hospitality sector in India is growing at a rapid pace, given the number of new hotels coming up across the country. Major international brands are looking at opening new properties over the next few years and joining this bandwagon is Fortune Hotels. The fully owned ITC subsidiary is planning to open a new hotel every month in the current financial year.

Managing Director of Fortune Hotels Samir MC told PTI that the expansion plans of Fortune Hotels, which recently opened its first international hotel — Fortune Resort & Wellness Spa Bhaktapur in Nepal – is a significant milestone in the company’s “beyond borders” expansion strategy.

“Following on the heels of this opening, we are poised to open at least four to six more hotels in the first half of the fiscal year in unique destinations like Kevadia (Ekta Nagar, Gujarat), Candolim (Goa), Palampur (Himachal Pradesh), and a beach resort in Chennai amongst others and an equal number in H2 (second half: October-March),” Samir said. “This pace aligns with our goal of establishing a new hotel almost every month in this fiscal year, marking significant progress towards our expansion targets,” he added.

Also read | India among the fastest growing markets, aim for 100 more hotels by 2030: Marriott International president

Elaborating on the challenges for India’s hospitality sector, Samir said economic uncertainties, such as fluctuations in exchange rates, geo-political tensions, and global economic downturns, can impact travel demand and consumer spending, posing challenges for hotels in terms of revenue management, occupancy rates, and profitability. He cited the increasing global travel trends, driven by rising disposable incomes, a desire for unique experiences, and improved accessibility, as “significant opportunities” for the hospitality sector to attract a diverse range of travellers.

Meanwhile, Minor Hotels said on May 3 that it was planning to open 50 properties over the next 10 years as it opened Bengaluru office and counts down to Anantara debut in Mumbai.

Minor Hotels is a global hotel owner and operator with more than 540 properties in 56 countries, is set to intensify its presence in the dynamic Indian hospitality market, targeting 50 new openings within the next decade. The group will focus its strategy on the upper-upscale and luxury hotel segments, where it expects strong interest from owners in its well-established Anantara, Avani, and NH Collection brands.

For Anantara Hotels & Resorts, the group is building on core brand differentiators by targeting opportunities in Ayurvedic wellness retreats, wilderness lodges, and historical palaces. It also believes Avani Hotels & Resorts is well positioned to fill a significant gap in the lifestyle hotel space across India, while NH Collection Hotels & Resorts will prove attractive for upper- upscale conversion opportunities.

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Marriott International launches 150th property in India; Katra Marriott Resort & Spa opens in Jammu and Kashmir

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Marriott International opened its landmark 150th hotel in India on May 3, 2024. Katra Marriott Resort & Spa was launched in Jammu and Kashmir to cater to pilgrims and tourists looking for an elite stay in the scenic Trikuta hills, known as the Vaishno Devi Hills. This pure vegetarian resort will offer a captivating blend of spirituality amid the scenic landscapes, where guests can indulge in leisurely nature walks and immerse themselves in the vibrant culture and culinary delights of Katra.

Marriott Hotels, said in a statement that Katra, is a spiritual destination known for the Shri Mata Vaishnodevi Shrine and Trikuta Hills. The resort will provide unparalleled access to attractions like the Patnitop Hill Station, Mansar Lake and Krimchi Temple, all of which are within an hour’s drive from the resort. Katra is 50 kms away from Jammu Airport and 222 kms from Srinagar International Airport. It is accessible by road from cities like Delhi, Chandigarh and Amritsar.

Commenting on the opening of the 150th hotel in India, Ranju Alex, Area Vice President, South Asia, Marriott International said, “We acknowledge not just our presence in the country, but also the unique and enriching experiences our hotels provide through their distinctive architecture and design, world-class food and beverage offerings and curated amenities that provide exceptional, one-of-a-kind stays. We continue to have confidence in the resilience of our brands and our teams and remain steadfast in our commitment to advancing our growth through a strong pipeline of hotels.”

Also read: Marriott 2023 revenues at ₹9,000 crore in India; will add over 4,000 rooms to growth pipeline

Katra Marriott Resort & Spa features 100 guest rooms, suites and cottages, offering breathtaking views of the Shri Mata Vaishno Devi Shrine and the surrounding lush green landscapes. For those seeking relaxation and rejuvenation, the Quan Spa offers five therapy rooms with treatments that embrace the ancient wisdom of Ayurveda and contemporary wellness practices.

“We are excited to welcome guests to Katra Marriott Resort & Spa, our spiritual haven, nestled at the foothills of the divine Vaishno Devi Shrine, where hospitality meets fulfilment,” said Satish Srinivasamurthy, General Manager, at Katra Marriott Resort & Spa. “Whether you seek spiritual solace, leisurely indulgence, memorable weddings, or wellness escapes, we are dedicated to crafting enriching experiences.”

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Homestays and hotels in Nainital: Uttarakhand is making a list of illegal units offering stays online

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Nainital, the lake city of Uttarakhand, is one of the country’s major tourist destinations. The district has many homestays and hotels, some of which are not registered with the Tourism Department. 

According to official data, of the thousands of staying options available to travellers in the hill station, only 900 homestays and 927 hotels are registered with the tourism department across the Nainital district. 

The government is losing significant revenue that it could potentially earn if all the facilities were registered with the Tourism Department. 

Registration will also ensure compliance with legal and safety norms. 

Also Read: These 5 scenic destinations in Uttarakhand require an Inner Line Permit

So, at the peak of the tourist season, the state’s Tourism Department has decided to crack down on unregistered facilities, starting with those offering online bookings. 

The government plans to survey the units operating across the district to prepare a list of illegal hotels and homestays and take action against them.

“It’s a challenging task,” district Tourism Officer Atul Bhandari told Local 18. “In the first phase, the Tourism Department will prepare a list of hotels and homestays making bookings through internet media and online sites, from which non-registered units will be identified,” he added.

So far, the Tourism Department has identified 60 unregistered units.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

ITC enters international market with ultra-luxury Ratnadipa in Sri Lanka

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Colombo’s skyline welcomed a new landmark today as ITC Hotels unveiled ITC Ratnadipa, marking the hospitality giant’s foray into the international market. Situated in the prestigious Gale Face area, the twin towers of ITC Ratnadipa, reminiscent of iconic structures seen in Singapore and Malaysia. As  Ranil Wickremesinghe, President of Sri Lanka, said at the inauguration ceremony- “The skyline of Colombo has a new gem.”

This is not just ITC’s first hotel outside of India, this also marks the biggest investment made by an Indian company in Sri Lanka so far. The inauguration ceremony was graced by His Excellency Ranil Wickremesinghe, President of Sri Lanka, and attended by esteemed dignitaries including Hon’ble Prime Minister Dinesh Gunewardena and Indian High Commissioner Santosh Jha.

Sanjeev Puri, Chairman, ITC group said that ITC Ratnadipa is a step towards strengthening tourism ties between India and Sri Lanka in the direction that PM Narendra Modi called- neighbors first.

Also read: Tourism in Sri Lanka rebounds as revenue reaches $1.8 billion in 2023

Beyond hospitality, ITC Ratnadipa aims to boost MICE tourism in Sri Lanka with its modern banqueting facilities spread over 40,000 square feet, ideal for hosting corporate events, weddings, and social gatherings. Additionally, the project introduces Sky Mansions to South Asia with the Sapphire Residences, offering luxurious apartments and penthouses with panoramic ocean views.

Santosh Jha, Indian High commissioner in Sri Lanka, stressed on India’s commitment towards Sri Lanka and said that India has always stood by its neighbor through thick and thin including the Covid pandemic and the financial crisis in the island country. “Launch of UPI, connectivity corridors and now ITC luxury property show India’s support to Sri Lanka,” said Jha.

Keeping it local, the hotel’s architecture and design is inspired by the national flower of Sri Lanka, the floating water lily. ITC Ratnadipa has 352 guest rooms, suites, and service apartments, each boasting private balconies offering stunning waterfront views. The hotel is strategically positioned between the Indian Ocean and Beira Lake, comprises two towers connected by the state-of-the-art ‘Ahasa’ sky bridge, an architectural marvel soaring 100 meters above ground.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Amsterdam bans construction of new hotels to fight overtourism

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Amsterdam, the capital of The Netherlands has banned the construction of new hotels to battle overtourism. The city’s council in a X post said on Wednesday (April 17), “Our aim is to maintain the city’s livability for both residents and visitors. This entails: combating over-tourism, halting new hotel developments, and capping tourist hotel stays at 20 million annually.”

According to reports, a new hotel will only be built in the tourist capital of Europe if another hotel shuts down. According to a release shared by the city council, if the total sleeping accommodations remain unchanged, and if a new establishment improves upon existing standards, such as enhanced sustainability, then it will be allowed to be built. The new regulation excludes hotels that have already obtained construction permits.

🏨❌ We zegen ‘nee’ tegen nieuwe hotels.

We willen de stad leefbaar maken én houden, voor bewoners en bezoekers. Dat betekent: geen overtoerisme, geen nieuwe hotels erbij, en niet meer dan 20 miljoen hotelovernachtingen door toeristen per jaar. ⤵️https://t.co/VILooYb30j

— Gemeente Amsterdam (@AmsterdamNL) April 17, 2024

The city has been actively pursuing measures to curb tourist influx, which reaches millions annually, primarily by discouraging sex and drug-related tourism in its red-light district.

Intentions of tourists visiting the Dutch capital have been repeatedly questioned by locals. In 2023, a staggering 49.7 million guests chose accommodations in hotels, campsites, and holiday parks across The Netherlands. This marked an 8.1 percent surge compared to 2022, setting a new record.

Also read | Top 10 city destinations of 2023: Paris was most-visited place, No 2 will surprise you

It has set a new threshold of 20 million as the maximum number of overnight hotels stays by tourists the city is prepared to accommodate each year.

Often hailed as a paradise for sex enthusiasts, The Netherlands is one of the most popular global sex tourism destinations. Prostitution is legal and regulated in the country. De Wallen in Amsterdam stands out as the largest and most famous red-light district, attracting international sex tourists seeking cubicle-based experiences.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Inside the luxury Dubai resort, Priyanka Chopra’s ‘home away from home’

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Amid her hectic schedule and frequent travel, actor Priyanka Chopra cherishes the time she spends with her family. Keeping work aside, she prioritises spending moments with her husband Nick Jonas and their daughter Malti Marie Chopra Jonas. Recently, the Quantico star shared photographs and videos from their cosy family vacation to the luxurious Bulgari Resort in Dubai.

From undertaking a yacht ride to basking under the sun on the beach, the images captured Priyanka and her family enjoying quality time on their vacation.

In the caption, she wrote, “Home away from home. Thank you @bulgarihotels for being such excellent hosts last weekend #throwback #ad”

In a video, Malti is seen playing in the sand. She was asked by Priyanka if she could say ‘Bulgari.’ To this, the toddler responded with ‘Boo-ya-mama’.

Here’s all you need to know about the Bulgari Resort Dubai:

The luxurious resort is on a seahorse-resembling island in Jumeira Bay. Surrounded by stunning oceanic views, the resort brings Mediterranean style to the Middle East. “Its nautical spirit inspires the Resort’s design, making it an oasis of luxury minutes from the mainland,” read the official website.

How to visit?

If you plan to visit the Bulgari Resort, the easiest way to reach there is by hiring a cab or taking a bus after arriving at the Dubai International Airport.

What does it offer?

At this famous resort, the ultimate luxury awaits you. The rooms are divided into three categories — Villas, Rooms and Suites, and Garden Rooms and Suites.

While the villas come with beach and skyline views, the second category features superior and premium rooms, deluxe beach view and suite rooms, according to reports.

The Garden Rooms and Suites category includes garden rooms, garden junior suites, and garden deluxe suites.

Prices at this luxury resort start at ₹1.25 Lakh for a twin accommodation per night.

Besides this, the property also includes a bar, lounge, cafe, spa centre, gym, yacht club restaurants and many more.

It also offers three fancy shopping boutiques: Bulgari Boutique, Bulgari Dolci and La Galleria.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Marriott 2023 revenues at ₹9,000 crore in India; will add over 4,000 rooms to growth pipeline

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Marriott International has marked a record year of growth in South Asia as the world’s largest hotel chain signed 28 deals to add over 4,600 rooms to its existing portfolio in the region.

The expansion is focused on growing the presence of Marriott International’s portfolio of luxury and premium properties. In an exclusive chat with CNBC-TV18, Rajeev Menon, President, Asia Pacific excluding China, Marriott International, said, “We have added over 4,600 rooms to our development pipeline in South Asia, which highlights the company’s growth in the region.”

At present, Marriott International operates 160 properties across 17 brands in South Asia. “In 2024, Marriott International is looking to open 14 more hotels in South Asia, following the debut of its Moxy Brand in Bengaluru in January 2024,” Menon said.

Also read: World’s largest hotel chain plans to add over 100 new properties in India by 2025

“Twelve of these properties will be in India and overall, they will add approximately 1,200 rooms to the hotel chain’s existing portfolio,” he added.

Highlighting the hospitality giant’s growth in India, Menon stressed, “In 2023 we saw phenomenal growth in the tourism and tourism products sector across the country. From our perspective, we are honoured and thrilled to continue to expand in India.”

Marriott crossed ₹9,000 crore in turnover in 2023, with revenue per available room (Revpar) in India up 32% in the year compared to 2022.

Mentioning upcoming properties in India, Menon highlighted, “We will open the Ritz Carlton Mumbai by the end of 2024, and recently Marriott entered into an agreement with Oberoi Realty Limited to debut the hospitality giants’ flagship brand, JW Marriott, which will be the third property in the Mumbai region. Both hotels, the JW Marriott Hotel Thane Garden City and Mumbai Marriott Hotel Sky City, are expected to open in 2027–28.”

Moreover, Amila Hills in Shimla will get a Ritz Calton, which is expected to open in May 2029. In addition, the JW Marriott is anticipated to debut in Bangladesh with the JW Marriott Hotel Dhaka, while in India, there are plans to expand its luxury footprint with the JW Marriott Surat Resort and Spa and the JW Marriott Sohna Resort and Spa in Delhi NCR.

With six new additions to the signed pipeline for premium brands, Marriott Hotels and Resorts, the company’s flagship brand, is expected to debut in emerging destinations with Guwahati Marriott Resort & Spa, Ludhiana Marriott Hotel, Ayodhya Marriott Hotel, Shimla Marriott Hotel and the Amritsar Marriott Hotel.

Westin Hotels & Resorts will augment the wellness portfolio with the anticipated addition of the Westin Hyderabad Resort and the Westin Coorg Resort and Spa. Le Meridien Hotels and Resorts is expected to expand its footprint in North India with Le Méridien Jalandhar.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Tourism boom helped hotel stocks surge 100-150% in the past year. How will FY25 shape up?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Hotel stocks have been thriving post-pandemic and the rally in the space has further intensified after robust demand boosted occupancies across the segments. Almost all companies in the sector reported healthy operating margins in the third quarter of FY24, aided by strong demand.

The improvement in financial metrics is quite visible in the stock performance of hotels as well. A custom index of 12 hotel stocks has added as much as ₹1 lakh crore to its market capitalisation since the beginning of 2022. While the market valuation of Indian Hotels Co (IHCL) surged the most, with an increase of ₹54,212 crore over the last two years, others like EIH and Chalet Hotels saw their market valuation surge by ₹16,453 crore and ₹12,794 crore, respectively during the same period.

In an interview with CNBC-TV18, Rajesh Magow, Co-Founder and Group CEO at MakeMyTrip and K Srikumar, Senior Vice President & Co-Group Head-Corporate Ratings at ICRA discussed at length how tourism shape will up in FY25.

Magow said, “All segments of travel have come back, and not necessarily only leisure but the business segment, visiting friends and relatives (VFR), the pilgrimage tour and so on. And that is what, I guess, driving the stocks for the hotel industry as well.”

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Srikumar said that ICRA expects the hotel sector to grow at 14-16% in the current fiscal, FY24 and to the higher single-digit 7-9% in FY25; this is coming on a very high base.

“Occupancy levels are still at a decadal high of 70-72% which will be continuing in FY25 as well. The pan India premium hotel ARR (average room rate); the peak was seen in FY08 above ₹8,000 odd levels that will be hit in FY25 for the industry as a whole, although some of the portals have already crossed all-time high levels in FY24,” he added.

According to ICRA, hotels are experiencing steady growth because it will take some time for the number of hotels available to catch up with the demand. In the airline industry, domestic travel is predicted to return to pre-COVID levels only by fiscal year 2025, although international travel has already reached that point by fiscal year 2023. Tour operators are benefiting from the growth seen in hotels and airlines. However, they still face challenges such as visa issues. Overall, the tourism sector is expected to maintain its momentum and grow more significantly in fiscal year 2025.

In addition to the increasing wealth, there is also a newfound surge in religious or spiritual tourism, fueled by the construction of the Ayodhya temple. However, the tourism sector faces challenges, including the hike in tax collection at source from 5% to 20%, the low influx of foreign tourists into India, visa issues for Indians travelling to the United States, and geopolitical tensions such as those in Ukraine, Palestine, and the Maldives.

Also Read | Air India Express introduces Xpress Lite fares for budget-conscious travellers

In January 2024, hotels in India witnessed a healthy year-on-year (YoY) average room rate (ARR) growth of 11%, with occupancy increasing by 210 basis points compared to the previous year, resulting in a stronger YoY growth in revenue per available room (RevPAR) at 15%. Overall, for the first ten months of the fiscal year 2023-2024, ARR/RevPAR growth stood at approximately 15% YoY.

CRISIL Ratings forecasts that the Indian hotel industry is on track to achieve robust revenue growth of 11-13% in the fiscal year 2025, following a solid performance of 15-17% growth in the current fiscal year. This positive outlook is supported by consistent domestic demand and an increase in foreign traveller interest.

Also Watch: Prashant Pitti, one of the founders of EaseMyTrip, discussed with CNBC-TV18 the collaboration with Jeewani Group to develop a Radisson Blu Hotel with 150 rooms in Ayodhya. The company’s investment in this project is estimated to be around ₹100 crore.

For the entire discussion, watch the accompanying video

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Marriott International and Oberoi Realty sign agreement to open hotels in Mumbai and Thane by 2027-28

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The tourism industry got a big boost thanks to the ICC Cricket World Cup and the G20 Summit, both of which were held in India in 2023. Despite the staggered opening of the sector following the COVID-19 restrictions, tourism in the post-pandemic era was slow but gathered steam last year and is expected to grow exponentially in 2024.

To meet the growing demand of discerning Indian travellers, who are willing to spend more on one-of-a-kind experiences, Marriott International has entered into an agreement with Oberoi Realty Limited to debut the hospitality giants’ flagship brand, JW Marriott, which will be the third property in the city. Both hotels, the JW Marriott Hotel Thane Garden City and Mumbai Marriott Hotel Sky City are expected to open in 2027-28. The two properties are expected to offer elevated dining experiences and immersive brand programmes that will help locals and travellers indulge in holistic well-being with JW Marriott while they experience the unmatched hospitality of Marriott Hotels.

Also read: World’s largest hotel chain plans to add over 100 new properties in India by 2025

Situated on the northeastern fringes of Mumbai, JW Marriott Hotel Thane Garden City will boast 280 guestrooms designed with residential aesthetics in mind. The establishment will host three dining venues alongside a comprehensive Lobby Lounge and a Pool Bar. Amenities would include a 25-meter outdoor swimming pool, a fitness centre, and the renowned Spa by JW. Moreover, the hotel anticipates offering 1,670 square meters of event space, positioning it as an ideal venue for small to medium-sized gatherings.

Meanwhile, the upcoming Mumbai Marriott Hotel Sky City will grace Borivali. This property too is slated to accommodate 280 generously appointed guestrooms that promise an array of dining experiences that elevate guests’ culinary experience.

With an all-day dining restaurant, a speciality dining venue, and a patisserie, complemented by a Bar Lounge and the versatile Greatroom lobby — a signature feature across Marriott properties globally — the hotel aims to provide a contemporary space for guests to unwind and socialise.

Additionally, the property intends to introduce the brand’s esteemed M Club, a privileged lounge reserved for Elite and Club members, alongside a well-equipped fitness centre, the signature Quan spa, an outdoor pool, and flexible event spaces conducive to fostering collaborations.

“With Mumbai going through a substantial phase of real estate development, we are thrilled to work together with Vikas Oberoi and his team at Oberoi Realty Limited to manage these two upcoming properties. This collaboration reinforces Mumbai as a strategically important market where we now have thirteen operating hotels. We look forward to providing guests with access to our world-class brands and creating exceptional customer experiences while responding to travellers’ diverse hospitality preferences,” Rajeev Menon, President of Asia Pacific excluding China, Marriott International, told CNBC-TV18.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow