ICRA forecasts margin improvement for Indian Alcoholic Beverages Industry in FY2025
ICRA estimates revenue growth of 8-10% for its sample set of domestic alcohol beverages (alcobev) companies in FY2025. While Indian made foreign liquor (IMFL) companies are expected to witness 11-13% revenue expansion supported by preference towards premium products amid volume growth of ~3-5% on a high base of FY2024, revenues for beer companies will witness…
ITC Hotels expands portfolio with signing of Storii Rishikesh in Uttarakhand
Embracing its asset-right growth strategy, ITC Hotels has announced the signing of Storii Rishikesh, located amidst the serene hillsides of Uttarakhand. Offering panoramic views of the river from elevated vantage points, Storii Rishikesh is poised to commence operations by 2026, promising to emerge as a scenic retreat in the region. Set within a tranquil locale…
Brij Hotels raises 4 Million USD in Series A Funding
Brij Hotels, a collection of distinguished boutique hotels, announced the successful closure of the 4 million USD Series A round led by the Manipal Education & Medical Group(MEMG) Family Office, with strategic participation from prominent investors including Abhay Jain, Abhiroop Jayanthi, Rajendra Rao and Prashant Deshpande. This investment marks a crucial juncture for Brij Hotels,…
MP Tourism Board trains over 6,500 rural women for hospitality industry roles
Under the initiative led by the Madhya Pradesh Tourism Board (MPTB), tourist destinations in Madhya Pradesh are undergoing significant improvements to ensure the safety and comfort of women travelers. This project not only attracts solo women tourists but also empowers rural women across the state. According to Madhya Pradesh Culture and Tourism Minister Dharmendra Singh…
Shiftz secures investment from industry veteran Nakul Anand
Shiftz, the pioneering staffing platform tailored for the hospitality industry, launched in 2023, continues to assert its dominance in the sector with a recent milestone achievement. Notably, the platform has attracted investment from Nakul Anand, the esteemed retired Director of ITC Group, boasting a distinguished career spanning over four decades. The investment comes at a…
Hilton acquires Graduate Hotels in USD 210 Million deal, marking first brand acquisition in over two decades
According to Reuters, on Thursday, Hilton announced its acquisition of Graduate Hotels from Adventurous Journeys Capital Partners for USD 210 million, marking its first brand purchase in over 20 years amidst growing pressures in the hotel industry, creating opportunities for consolidations. Hilton sees significant potential in the Graduate brand, which primarily caters to locations near…
Accor announces ‘Bhutan to Bharat – A Culinary Journey’ with Chef Michael Swamy across India
Accor has announced a unique culinary collaboration with acclaimed Chef Michael Swamy, that is billed as a delectable interweaving of the rich traditions of the Land of the Thunder Dragon’s cuisine with the diverse flavours of India. The exclusive “Bhutan to Bharat – A Culinary Journey” dinner events will be presented across India in Delhi,…
CYK Hospitalities Spearheads Opening of Nagari Restaurant in Agra
CYK Hospitalities, India’s prominent food and beverage consultancy firm, has played a pivotal role in the launch of ‘Nagari,’ an inventive new restaurant in Agra, known as the city of Taj, introducing a fresh dimension to its culinary landscape. Situated amidst the lively Padam High Street, Nagari promises a gastronomic journey for both locals and…
Baccarat Hotel & Residences Maldives to open its Doors in 2027
SH Hotels & Resorts, the hospitality management company established by the forward-thinking Barry Sternlicht, Chairman and CEO of Starwood Capital Group, has unveiled its ambitious plan to redefine luxury and refinement in the Maldives. Set to make its grand entrance in 2027, Baccarat Hotel & Residences Maldives will epitomize exclusivity and opulence. Situated across five…
Mercure Hyderabad KCP hosts Chettinad Food Festival
Mercure Hyderabad KCP is hosting the Chettinad Food Festival with the esteemed Chef Anthony De Salva, Chef de Partie, from Novotel Chennai OMR at Cayenne. The festival is set to continue its flavourful journey from 15th to 31st, March 2024. This culinary extravaganza celebrates the rich heritage of South Indian cuisine and promises to delight…