
Luxury: The New Currency For Hotels
Branded and boutique hospitality players look at spreading their wings amid rising room tariffs and occupancy rates.
Branded and boutique hospitality players look at spreading their wings amid rising room tariffs and occupancy rates.
The company's gross bookings surged 122% year-on-year to ₹54,306 crore in FY23 as against ₹26,330 crore in FY22.
As a distinguished member of the Elgin Hotels and Resorts family, The Elgin Fairlawn Kolkata stands as a testament to its commitment to providing unparalleled excellence in the hospitality industry.
While operating profitability is expected to check in at 6-7%, revenue should drive past 90% of pre-pandemic levels, says CRISIL.
A lot of ‘ghost malls’ have sprung up in the organised retail sector in India, which comprise nearly 0.8 mn sq m in gross leasable space, shows Knight Frank's ‘Think India, Think Retail 2022’ report
The increase has been done on account of the severe disruptions caused by the Covid-19 pandemic on hospitality and related enterprises.
ICRA expects pan-India premium hotel occupancy to be at 68-70% for FY23.
Industry stakeholders have welcomed the move, which is touted to provide immediate relief to the struggling sector
Hospitality in India has borne the brunt of a disarrayed economy induced by the pandemic. Extensive financial aid is pivotal to get it back on its feet.
Having launched its ultra-luxury brand in Udaipur, Accor is betting big on India’s travel and tourism market with more hotel launches across the price-spectrum.