InterGlobe Enterprises intends to open twelve Miiro hotels throughout Europe, beginning with Paris in July and Barcelona in August, followed by London and Vienna in 2025. The new brand caters to frequent visitors aged 30 and up, offering entry-level luxury rooms. InterGlobe, which also runs IndiGo Airlines, bought eleven properties from K+K properties in 2019. InterGlobe Aviation's latest equity sale for INR 73,360 crore would fuel its expansion. Miiro plans to compete in mature areas such as London and Paris.Read more

Royal Orchid Hotels, a Bengaluru-based hospitality company, has announced an ambitious plan to nearly double its room count to 11,000 keys across India within two years. Targeting new cities in Jammu & Kashmir, Uttar Pradesh, Andhra Pradesh, and Telangana, the company aims to secure management contracts and explore flexible-lease revenue-sharing models. Shifting to an asset-light approach, Royal Orchid focuses on leases and revenue-sharing agreements to accelerate expansion and mitigate financial risks. With over 100 hotels in India, Sri Lanka, and Nepal, the company seeks to strengthen its luxury and smart hotel segments, reflecting optimism in the rebounding Indian hospitality sector.Read more

Phoenix Mills Limited plans to expand with a third mall in Thane, Mumbai Metropolitan Region (MMR), as well as a potential hotel. It also aims to extend its Phoenix MarketCity Mall to Bengaluru. Phoenix Mills now operates two properties: Phoenix Palladium in Lower Parel, Central Mumbai, which houses a St Regis Hotel and a residential tower, and Phoenix MarketCity in Kurla, Mumbai. These additions seek to capitalise on Thane's growth and Bengaluru's dynamic market, expanding retail and hospitality options while driving economic growth and employment.Read more

Lemon Tree Hotels is giving Aurika Mumbai a significant makeover, aiming to enhance its appeal and attract more guests. Renovations include updating rooms with new furniture, better lighting, and comfortable beds to ensure a pleasant stay. Common areas such as the lobby, restaurants, and event spaces will be redesigned for a more inviting experience. Aurika Mumbai Sky City offers modern conveniences and luxurious amenities, making it ideal for business or leisure. The hotel emphasizes fine dining and eco-friendly practices, like recycling and energy-efficient lighting. This investment reflects Lemon Tree Hotels' commitment to excellence, positioning Aurika Mumbai as a top destination in the city and boosting its reputation in the competitive hotel industry.Read more

ITC Ltd. is set to demerge its hotel business, creating a new entity, ITC Hotels, poised for independent growth and financial stability. The move reflects ITC's strategic focus on core competencies and shareholder value, supported by a debt-free balance sheet. Despite economic challenges, ITC maintained financial discipline, emphasizing resilience and proactive management. The demerger, approved by 99.59% of shareholders and endorsed by the board in August 2023, will see ITC Hotels go public after regulatory approvals. This reorganization aims to reduce non-core risks and drive long-term profitability. ITC's focus on operational excellence and market opportunities positions both entities for continued successRead more

A recent JLL report forecasts a 45 million sq. ft. surge in organized retail space across Mumbai, Delhi NCR, Bengaluru, Hyderabad, Pune, Kolkata, and Chennai by 2028. This transformative shift to experience-centric retail caters to today's consumer looking for more than just shopping. Expect mega malls exceeding 1 million sq. ft. and two monumental projects surpassing 2.5 million sq. ft. in Delhi NCR. Driven by global influences and investor interest, these developments promise a diverse mix of stores, entertainment zones, and dining experiences. With lease-based models allowing curated offerings, a new era of retail awaits, offering a dynamic and immersive shopping journey.Read more

Oravel Stays, the parent company of Oyo Hotels & Homes, reported a significant milestone: its first full year of profitability in the 2023-24 financial year with a profit of INR 799.6 crore (USD 12 million). This success follows eight consecutive quarters of positive EBITDA, totaling INR 2,100 crore. Oyo also maintained a cash balance of INR 1,000 crore and saw improvements in gross margins and operating costs. Founder Ritesh Agarwal is optimistic about future growth in India and international markets. Despite challenges like withdrawing its IPO papers, Oyo added over 5,000 hotels and 6,000 homes globally, reflecting a robust turnaround strategy.Read more

Hilton, a global hospitality leader with over 6,800 hotels, plans to triple its presence in India within 5-7 years. Currently operating 24 hotels across five brands, Hilton aims to expand to 75-100 hotels in top Indian markets. The strategy includes introducing the Curio Collection and Waldorf Astoria brands. A strong focus on food and beverage (F&B) aims to boost F&B revenue from 35% to 45%, targeting the INR 5 trillion wedding and conference market. Expansion into tier-2 and tier-3 cities is also planned, leveraging rising disposable incomes. This ambitious growth requires significant investment, emphasizing Hilton's confidence in India's hospitality sector.Read more

Aparna Constructions and Estates has ventured into the retail and entertainment sectors, investing INR 284 crore in Hyderabad. The company has allocated INR 252 crore to develop Aparna Neo Mall and INR 32 crore for Aparna Cinemas. The mall, located in Nallagandla, spans 3.67 acres and is set to open on May 31, 2024. Director Rakesh Reddy announced plans for four more malls featuring Aparna Cinemas across Telangana and Andhra Pradesh by 2027. Aparna's residential and commercial portfolios are also experiencing annual growth of 20% and 10%, respectively.Read more

Radisson Hotel Group, the second-largest international hotel chain in India, the country this year, driven by the growing demand for travel and accommodation. The chain aims to have a hotel within a two-hour driving distance in India, with a focus on expanding its presence in religious destinations. The company has already opened hotels in Ayodhya and Srinagar, achieving high occupancy and daily rates. Radisson is also planning to open new hotels in tier two, three, and four cities, believing that India's growth potential extends beyond just the metros. The company is committed to hiring 3,000 new employees this year and supporting the reverse migration of team members to their hometowns.Read more