PNT Reporter

An inspection conducted by the district tourism department in Almora found that over 200 out of the 425 officially registered homestays were not meeting the required safety, infrastructure, and registration standards. These violations led to the cancellation of registrations and notices being issued to operators, instructing them to either align with regulations by registering as hotels or resorts or face legal action. The tourism officer, Prakash Khatri, emphasised the importance of this move for maintaining safety and regulatory standards. Experts also warn that unchecked growth in the homestay sector could lead to overcrowding and strain on natural resources.Read more

PNT Reporter

The Uttarakhand Pollution Control Board (UPCB) has struck fresh fines on 49 hotels in Mussoorie for environmental violations, including operating without valid consent. The penalties, ranging from a few lakhs to INR 50 lakh, come after a directive from the National Green Tribunal (NGT) to reassess and retroactively apply fines from the date of the violations. Among the affected hotels, 34 were operating without the necessary consent, while 15 failed to renew their permits. Despite previous fines, the UPCB assured that amounts already paid would be deducted from the new penalties. Some hotel owners have questioned the fairness of these additional charges.Read more

PNT Reporter

Ambience Mall Gurugram has proudly unveiled DIOR's first boutique in Delhi-NCR, marking a new era of luxury retail in the region. The store showcases DIOR's exclusive private collections alongside its iconic beauty, skincare, and fragrance ranges. Designed with signature elegance, the boutique offers an immersive experience for fashion enthusiasts. Arjun Gehlot, Director of Ambience Group, highlighted that DIOR's presence reinforces the mall's status as the premier luxury destination in NCR. This milestone strengthens Ambience Mall's position as a hub for high-end retail, drawing a discerning clientele from across the region.Read more

A CRISIL Ratings analysis reveals mall operators expect 10-12% revenue growth this fiscal, driven by rental escalations and improved occupancy. Overall mall occupancy is projected to increase from 89% to 92-93%, with established malls maintaining 95% occupancy. Retail consumption growth has moderated to 3-5% in the first half due to heat waves, but is expected to recover. Operators maintain strong Ebitda margins around 70%, with debt-to-Ebitda ratio anticipated to improve to 2.6-2.8 times, supported by steady cash accruals and controlled capital expenditure.Read more

Delhi's Khan Market ranks 22nd globally in Cushman Wakefield's Main Streets Across the World report, leading India's high-street retail with annual rents of USD 229 per square foot and 7% year-on-year growth. Competitive demand underscores India's robust retail sector. Regionally, Khan Market rose to 23rd in Asia-Pacific, surpassing Bangkok and Manila's major high streets. Delhi-NCR also features Connaught Place and Galleria Market among India's top retail hubs. Driven by strong economic growth and evolving consumer preferences, the country's retail landscape continues to thrive, with premium locations like Khan Market maintaining their global and regional significance.Read more

Indian Hotels Company Ltd (IHCL) aims to double its hotel portfolio to 700+ properties and increase its consolidated revenue by 2x, reaching INR 15,000 crore by 2030. This ambitious expansion follows 10 consecutive profitable quarters, strong cash flows, and zero net debt. IHCL plans to grow both organically and through acquisitions, focusing on an asset-light model. New ventures like Ginger, luxury homestays, and boutique resorts are expected to contribute 25% to revenue. With 75% of additions in the boutique leisure and mid-scale segments, IHCL will continue expanding in India, while also growing internationally in select regions.Read more

India's hospitality sector experienced strong growth in Q3 2024, with Revenue Per Available Room (RevPAR) rising 10.8% YoY and 2% over the previous quarter, driven by increased corporate travel. Cities like Hyderabad, Chennai, and Mumbai led with RevPAR growth of 23.6%, 17.7%, and 16.8%, respectively. The quarter saw 96 branded hotel signings (10,686 rooms), with 80% in Tier II/III cities like Tirupati and Udaipur, reflecting growing demand beyond metros. With stable occupancy rates, rising Average Daily Rates (ADR), and upcoming festive and business travel, the sector is poised for continued growth, signaling a strong recovery and expanding opportunities in emerging markets.Read more

The Himachal Pradesh High Court has directed the closure of 18 loss-making hotels operated by the Himachal Pradesh Tourism Development Corporation (HPTDC) by November 25, 2024, citing unsustainable operations and financial losses. Staff from the closed properties will be reassigned. The ruling follows a petition about unpaid dues to retired employees, highlighting HPTDC's struggles with profitability and financial management. The court emphasized that the closures aim to reduce the financial burden on the state's treasury and redirect resources towards more viable ventures to promote sustainable tourism growth.Read more

IHG Hotels & Resorts is accelerating its expansion in India, focusing on luxury offerings with the introduction of its Vignette Collection brand. Known for its mid-market brands like Holiday Inn, IHG aims to cater to the growing demand for premium hospitality. Currently operating 52 hotels in India, IHG plans to strengthen its luxury portfolio, including the upcoming InterContinental in Kodaikanal by 2028. With luxury brands like Six Senses already in its portfolio, IHG's Managing Director, Haitham Mattar, emphasises the segment's potential. This strategic move reflects IHG's adaptability to evolving consumer preferences and positions it as a key player in India's hospitality sector.Read more

Reliance Retail has temporarily closed several Centro department stores as part of a repositioning strategy to focus on its in-house brands and labels. Originally converted from Future Group's Central outlets, Centro stores are undergoing a remodelling process. Brands have been asked to retrieve inventory as Reliance explores a shop-in-shop model featuring its own and partnered brands, including Gap and Superdry. The closures come amid a slowdown in retail expansion and a 3.5% decline in quarterly revenue, attributed to weak demand in fashion and lifestyle. Despite challenges, Reliance remains focused on technology-driven efficiencies to strengthen its market leadershiRead more