The Tamil Nadu Tourism Development Corporation (TTDC) has taken possession of a private star hotel near Khajamalai in Trichy after the hotel failed to clear its lease dues. The property, leased to SRM Hotel since 1994 for 30 years, had an outstanding lease amount of INR 38 crore at expiry. Legal proceedings delayed possession, with the hotel obtaining interim relief from the Madras High Court and approaching the Supreme Court. Directed to pay INR 20 crore, the hotel defaulted, prompting TTDC officials to assume control and start the process of gradual surrender.Read more

India's retail real estate is witnessing a steady shift toward institutional-grade malls, which now make up 30-35% of the 650 operational malls. This transition is led by developers like Nexus Malls, Phoenix Mills, DLF, and Prestige Estates, who are expanding into Tier II cities including Chandigarh, Indore, Surat, Bhubaneswar, and Coimbatore. Grade A malls are growing rapidly, vacancy levels are falling, and retail productivity remains strong at INR 1,200-1,600 per sq ft per month. Recent GST reforms are expected to enhance transparency, investor confidence, and demand for quality retail spaces.Read more

The government has confirmed that the UDAN regional air connectivity scheme will continue beyond April 2027, after successfully operationalising 649 routes connecting 93 unserved and underserved airports, including 15 heliports and 2 water aerodromes. Over 1.56 crore passengers have travelled on more than 3.23 lakh flights under the scheme. Airlines have received over INR 4,300 crore in Viability Gap Funding, while INR 4,638 crore has been invested in airport development. The expanded UDAN framework will focus on hilly, North Eastern, and aspirational regions, adding about 120 new destinations.Read more

Carnelian Asset Management has invested INR 100 crore in Park Medi World, which operates a chain of hospitals under the Park brand, as part of a pre-IPO round. The deal involved promoter Ajit Gupta selling 61,72,840 equity shares, or about 1.6 percent of the company's stake, at INR 162 per share. Park Medi World's planned INR 1,260 crore IPO, already approved by regulators, aims to fund debt repayment, new hospital development, and equipment purchases across its expanding network of 13 hospitals in North India.Read more

Leela Palaces Hotels & Resorts has reported a profit after tax of INR 75 crore for the second quarter, marking its fourth consecutive quarter of profitability. Revenue rose 11% year-on-year to INR 333 crore, driven by a 13% growth in revenue per available room, reflecting higher occupancy and improved average daily rates. EBITDA increased by 17% to INR 161 crore, while operating margins expanded to 25.2%. The company also announced its international expansion with a new property in Dubai's Palm Jumeirah, highlighting its strategic growth plans.Read more

MakeMyTrip, a NASDAQ-listed travel technology platform, has introduced an AI-driven semantic search feature to make hotel and homestay discovery easier for travellers. The feature allows users to describe their accommodation needs in natural language, removing the need to navigate multiple filters. Queries such as "pet-friendly hotels in Manali with a swimming pool" or "heritage stays near Jaipur forts with parking" are understood by the AI, which presents relevant options with property visuals, curated user-generated content, and personalized rankings. The platform aims to enhance convenience and improve the overall stay-booking experience.Read more

Chalet Hotels Limited has launched its new upper-upscale brand, ATHIVA Hotels & Resorts, beginning with six properties across India. The project involves an investment of about INR 1,500 crore, mostly funded through internal accruals. The first property, The Dukes Retreat in Khandala, will open this week, marking ATHIVA's debut. The upcoming hotels include a renovated business property in Navi Mumbai, The Resort at Aksa Beach, and three greenfield projects in Goa and Thiruvananthapuram. The company expects all six properties to become operational by 2029 and aims to double ATHIVA's portfolio to 1,800 rooms within three years.Read more

OVS, Italy's renowned fashion brand, has launched its first flagship store in India at Pacific Mall, Tagore Garden, New Delhi. Spanning 9,000 sq. ft., the store showcases a wide array of collections, from everyday essentials to premium lines, reflecting Italian design, quality fabrics, and contemporary style. Before the opening, a pop-up installation offered shoppers an immersive preview of OVS' aesthetic and collections. The launch highlights the brand's international growth strategy and its focus on delivering accessible, stylish, and sustainable fashion to Indian consumers, catering to the increasing demand for global fashion experiences in the country.Read more

Shapoorji Pallonji Real Estate (SPRE) has partnered with Fortis Memorial Research Institute (FMRI) to provide comprehensive healthcare services to residents of its Gurugram projects, Joyville Gurugram and The Dualis. SPRE will supply infrastructure while FMRI will handle medical centres, staffing, and equipment. Residents will receive a range of complimentary services including vitals monitoring, first aid, injections, dressings, and fortnightly internal medicine consultations, along with discounts on diagnostics, health check-ups, and IPD services at Fortis Gurugram. Emergency ambulance support is also included, reflecting SPRE's commitment to integrating healthcare into community living.Read more

AI Fleet Services IFSC Ltd (AIFS), the leasing arm of Air India, secured a USD 215 million loan from Standard Chartered and Bank of India to finance six Boeing 777-300ER aircraft. The seven-year term loan, routed through GIFT City, marks the first commercial aircraft financing via India's international financial hub. The financing supports Air India's Vihaan.AI transformation programme, which includes fleet renewal, mergers with regional carriers, and network expansion. Earlier payments via AIFS show growing domestic financing capability. GIFT City is emerging as a hub for aircraft financing, reducing dependence on offshore lessors.Read more