Gross office leasing jumped 36% at 52 mn sq ft in 2022 over previous year
Mumbai: Commercial and office property market in India in 2022. The office sector saw gross office leasing of 51.6 million sq ft (mn sq ft) in 2022, a...
Adani’s sole bid for Radius Estates okayed by NCLT
Mumbai: National Company Law Tribunal (NCLT) has cleared Adani Goodhomes’ only bid for Radius Estates and Developers Pvt Ltd at 98 percent discount t...
Home First Finance raises Rs 280 cr green debt from IFC
Mumbai: Home First Finance has raised Rs 280 crore green debt from the International Finance Corporation (IFC). The funding is through issuance of rup...
Elan Grp gets 2nd round of funding of USD 60 million from PAG
Mumbai: Realty player Elan Group has got second round of funding of USD 60 million from global investment firm PAG. Elan Grp had earlier raised USD 50...
Kolte-Patil Developers approves amalgamation of subsidiaries with itself
Mumbai: Kolte-Patil Developers has approved the composite scheme of amalgamation of Tuscan Real Estate and PNP Agrotech with itself. Kolte Patil will...
Signature Global gets SEBI approval for its IPO
Mumbai: Signature Global Ltd has got SEBI approval for its IPO to raise up to Rs 1,000 crore. Signature Global in July 2022 had filed its Draft Red He...
Yuvraj Singh gets notice for putting up Goa villa for homestay
Mumbai: Goa government has issued a notice to Yuvraj Singh, former Indian cricketer, for putting up his house at Morjim for homestay. Singh has done w...
ITC Ltd looking to exit JV it signed with beleaguered Logix Estates for Noida hotel proj
New Delhi: Indian conglomerate ITC Ltd is looking to exit the joint venture it singed with beleaguered realty player Logix Estates. The matter is slat...
Swosti Grp plans to invest Rs 160 cr in Puri for ‘Swosti Premium Beach Resorts’
New Delhi: Swosti Grp is planning to invest Rs 160 crore in Puri (Odisha) for developing ‘Swosti Premium Beach Resorts’. The resorts will primalruy c...
20 new hotels deals signed in Q2 of 2021 having 2100 keys
Mumbai: Despite the continuing pandemic, as many as 20 hotel deals comprising of 2,100 keys were signed in Q2 of 2021 in the country. The domestic hot...
Hotels saw 39% drop in Revenue Per Available Room (RevPAR) in Q1
New Delhi: The hotels in the country saw 39 percent drop in Revenue Per Available Room (RevPAR) in the first quarter of the current calendar year as c...
Hotel Investment in India came down in 2020 to just a sixth of levels in 2019: JLL
New Delhi: Investment in hotels in India came down in 2020 to just a sixth of the levels seen in the previous year. The investment crashed 84 percent...
Hotels see 35% occupancy rate in November 2020:JLL
New Delhi: The hotel occupancy rate has touched 35 percent mark in November 2020 after the corona pandemic hit the hospitality hard earlier last year....
Oyo fires 800 employees, changes business model
New Delhi: Hospitality player Oyo is learnt to have fired around 800 employees to reduce costs. Many of the fired employees are from the operations a...
Hotel sector revenues drop 53% in first 9 months of 2020
New Delhi: The hotel sector in the country saw 53 percent fall in Revenue Per Available Room (RevPAR) in the first nine months of the current year as...
Hotel Rugby's net loss narrows to Rs 2.99 lakh for Q1Fy21
New Delhi: Hotel Rugby Ltd net loss narrowed to Rs 2.99 lakh for the first quarter of the current financial year as compared to Rs 7.1 lakh in the cor...
RevPAR for Bengaluru hotels falls 59% in January-July 2020 period of 2020
New Delhi: The RevPAR for Bengaluru hotels fell 59 percent in the January-July period of the current year as compared to the same period do the previo...
EIH Associated Hotels suffers net loss of 15 cr for Q1Fy21
New Delhi: Oberoi Group company EIH Associated Hotels Ltd suffered a net loss of Rs 15 crore for the first quarter of the current fiscal as compared t...
Lemon Tree Hotels Ltd’s net loss jumps 30 times to Rs 60 cr for Q1FY21
New Delhi: Lemon Tree Hotels Ltd’s consolidated net loss jumped almost 30 times to Rs 60 crore for the first quarter of the current fiscal as compared...
Ibis Hotels coverts its properties into co-working spaces
New Delhi: Hotel operator Ibis is foraying into co-working by converting part of its hotels in flexible workspaces. Called ‘Work@ibis’, the offering w...
Delhi High Court orders OYO to list all unencumbered properties
New Delhi: Oyo Hotels and Homes has been ordered by Delhi High Court to mention the details of all unencumbered assets like hotels and properties that...
60% hotel operators think RevPAR will return to 2019 levels in 1-2 yrs
New Delhi: About 60 percent of the hotel operators believe that Revenue Per Available Room (RevPAR) will return to 2019 levels in 1-2 years. Another 2...
EIH Associated Hotels Ltd’s net profit tanks 44% to Rs 10.7 cr for Q4FY20
New Delhi: Oberoi Group company EIH Associated Hotels Ltd’s net profit tanked 44 percent to Rs 10.7 crore for the fourth quarter of the fiscal 2019-20...
Jindal Hotels Ltd’s net profit tanks 83% to Rs 10 lakh for Q4FY20
New Delhi: Jindal Hotels Ltd’s net profit tanked 83 percent to Rs 10 lakh for the fourth quarter of the fiscal 2019-20 as compared net profit of Rs 62...
Indian Hotels Company Ltd’s (Taj Hotel) net profit falls 35% to Rs 76.29 cr for Q4FY20
New Delhi: The Indian Hotels Company Ltd’s consolidated net profit fell about 35 percent to Rs 76.29 crore for the fourth ended 31 March 2020 as again...
Gujarat Hotels Ltd’s net profit jumps 11% to Rs 1.21 cr for Q4FY20
New Delhi: Gujarat Hotels Ltd’s net profit jumped 11 percent to Rs 1.21 crore for the fourth quarter ended 31 March 2020 as compared to Rs 1.09 crore...
Lemon Tree Hotels Ltd’s suffers net loss of 19.02 cr for Q4FY20
New Delhi: Lemon Tree Hotels Ltd’s consolidated net loss stood at 19.02 crore for the fourth quarter of the 2019-20 fiscal as compared net profit of R...
Hotel occupancy dips to 11% in April, deals for new 3,749 hotel rooms signed in Q1
New Delhi: The hotel room occupancy nosedived to just 11.7 percent in April 2020 due to the coivd19 pandemic in the top 13 cities of the country. This...
This large Indian startup stops paying salaries to 3,500 staff
New Delhi: Corona virus is wreaking havoc for the economic activity and one of the hardest hit sectors is travel and hospitality. Hotel room aggregato...
Mahindra Holidays and Resorts Ltd suffer consolidated net loss at Rs 161.51 cr for Q4FY20
New Delhi: Mahindra Holidays and Resorts India Ltd’s consolidated net loss stood at Rs 161.51 crore for the fourth quarter of 2019-20 fiscal as agains...
Oyo Hotels & Homes Reports Loss Of Rs 2,200 Cr For FY19
New Delhi: Oyo Hotels & Homes has reported a loss of USD 335 million (About Rs 2,200 crore) fiscal year ending 31 March, 2019 as compared to USD 52 mi...
Delhi Hospitality Grp Raided By IT Dept; Rs 1,000 Cr Assets Seized
New Delhi: The Income Tax (IT) department has found Rs 1,000 crore worth of hidden foreign assets of a major hospitality group based in Delhi-NCR. The...
5-star Hotel To Come Up On Part Of Existing Pragati Maidan In Delhi
New Delhi: A 5-star hotel will be developed on part of the existing Pragati Maidan in Delhi. The government has approved the a plan to authorise India...
85 Branded Hotels To Be Set Up In The Country With 8,612 Rooms: JLL
New Delhi: As many as 46 branded hotels have been set up in the first half of the current calendar year and deals for another 85 have been signed in t...