Indian Hotels Company Limited (IHCL) reported a 27.43% YoY rise in Q4 net profit to INR 418 crore, though net profit fell 8% QoQ. Revenue rose 18% YoY to INR 1,951 crore. For FY24, net profit grew 26% to INR 1,259 crore on a 17% revenue increase to INR 6,952 crore. IHCL achieved its 'Ahvaan 2025' goals ahead of schedule and will also launch upscale hotels under the re-imagined Gateway brand, expand internationally, and invest INR 3,500 crore over 5 years. IHCL is well positioned for continued growth, having already exceeded its strategic goals.Read more

IHG Hotels & Resorts aims to double its operating hotels in India to 100 properties over the next five years. Currently, it operates 46 hotels with nearly 50 more in the pipeline. In 2023, IHG recorded strong growth across brands in cities like Gurgaon, Mumbai and Amritsar. It is targeting tier 2/3 cities and focusing on mid-scale brands which reflect 70% of new deals. The expansion plan features brands like InterContinental, Crowne Plaza, Voco, Holiday Inn and more to meet India's demand for branded accommodations.Read more

Wyndham Hotels is expanding aggressively into India's booming branded residences sector. By 2025, the hospitality giant aims to have at least five branded residential projects operational across major Indian cities like Bengaluru, Mumbai, and Delhi. According to Dimitris Manikis, President of Wyndham for Europe, Middle East and Africa, the company sees strong potential given rising demand from consumers who prioritize security, health, and unique experiences from trusted brands. With a robust pipeline, Wyndham is well-positioned to capitalize on the growing demand in the residential and hospitality market in India.Read more

DLF embarks on constructing the "Mall of India" in Gurugram, anticipated to span 26-27 lakh square feet and cost INR 2,200 crore. Sriram Khattar, DLF's Vice Chairman and MD of rental business, revealed these details at a CII real estate conference. With 42 lakh square feet of retail space across Delhi NCR, DLF aims for further expansion, including a premium mall in Goa and high-street shopping centres near residential projects. The "Mall of India" signifies DLF's commitment to India's retail sector growth and its strategic position as a leading retail property developer. This endeavor promises to elevate Gurugram's commercial landscape while enhancing DLF's market prominence.Read more

A Cushman & Wakefield report revealed promising trends in India's retail sector for Q1 2024. The report indicated that Ahmedabad experienced strong leasing activity, with rental hikes of 20-30%. Bengaluru's prominent high streets saw a rental appreciation of around 10% per quarter, while Chennai witnessed a surge in high street leasing volume. Delhi-NCR's key high streets in Gurugram and South Delhi saw rental growth of up to 10% year-over-year. Hyderabad reported high demand for both malls and high streets, with rental increases of 15-25%. Kolkata saw modest growth in leasing activity, and Mumbai anticipated new mall openings in suburban areas. Pune experienced a significant increase in mall leasing and high street rentals. Overall, the retail market in India appears robust and poised for further growth in 2024.Read more

The 217-room 5-star hotel located near Bengaluru's Kempegowda International Airport that is owned by Lulu Group's hospitality arm Twenty14 Holdings and is being developed to be operated by Marriott International is on the market for about INR 400 crore. While a private equity firm has bid INR 350 crore, an additional INR 40-50 crore is required to complete the project that is currently 75% finished. The sale is expected to close within two months and comes as the Lulu group looks to reduce debt from its rapid expansion in recent years which has caused delays in completing some hotel projects.Read more

ITC Hotels aims to expand its portfolio to 200 properties from the current 130 within five years, capitalizing on India's growing business and leisure travel market. With a focus on tier two and three cities, it plans to offer unique guest experiences across various brands, including Storii, Mementos, Welcomhotel, and Fortune. The introduction of Club ITC Master Key will provide immersive experiences for guests, enhancing their stay from arrival to departure. The international debut with ITC Ratnadipa in Colombo signifies the brand's global expansion. Additionally, upcoming openings include properties in Sri Lanka and various Indian cities, reinforcing ITC's position across luxury, upscale, and heritage segments.Read more

The CBRE report forecasts continued growth and stability in the Indian retail sector for 2024, emphasizing a shift in retailer strategies towards strategic locations with high foot traffic. Completion of high-quality malls in Tier 1 cities is expected to add 5-6 million sq. ft. of mall space, offering a modern shopping experience. Home decor, fashion, and domestic jewellery are identified as growth categories. Entertainment options within malls are also expected to increase, enhancing visitor experiences. Retail demand has consistently grown, with 7.1 million sq. ft. absorbed in 2023, led by Bangalore, Delhi-NCR, and Mumbai. The report suggests a cautious approach by retailers, which could stabilize rental prices and benefit both businesses and consumers.Read more

Wyndham Hotels & Resorts is extending its position in India by building hotels near major highways and airports, capitalising on the country's rising infrastructure. Dimitris Manikis, President of Wyndham (EMEA region), discussed this strategy at the HICSA 2024 event. With over 9,200 hotels worldwide, Wyndham plans to replicate its European model in India, running hotels alongside EV charging stations and food plazas. The brand's recent opening of The Earth Hotel in Amritsar marks its foray into India's mid-scale category. Wyndham is bullish on India's hospitality business, forecasting strong growth driven by economic development and travel demand.Read more

Blackstone Inc., a global alternative investment firm managing over USD 1 trillion in assets, is venturing into India's hotel market amid a strong rebound post-pandemic. With significant investments in Indian real estate, Blackstone is cautiously entering the hospitality sector, targeting independent hotels in South India valued between INR 300-400 crore. Blackstone's entry adds to growing investor interest in the sector, evidenced by recent acquisitions such as Chalet Hotels' purchase of Courtyard by Marriott Aravali Resort and Max Estates' acquisition of Accord Hotels and Resorts. Blackstone Inc., the world's largest alternative investment firm with over USD 1 trillion in assets under management (AUM) globally, is reportedly entering the Indian hotel market.Read more