Author: HBI Staff | Hyderabad
Ecos (India) Mobility & Hospitality Limited (“the Company”)the largest and most profitable chauffeur driven mobility provider to corporates in India, in terms of revenue from operations and profit after tax for Fiscal 2023 (Source: F&S Report) has filed Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO) of up to 18,000,000 Equity Shares of Face Value of INR 2 each (“Equity Shares”). The Promoters of the Company are Rajesh Loomba, Aditya Loomba, Rajesh Loomba Family Trust and Aditya Loomba Family Trust. The offer comprises of an Offer for Sale (OFS) of up to 18,000,000 Equity Shares (the…
Vintage Coffee and Beverages Limited (VCBL) has unveiled ambitious plans to fortify its position in the global coffee market, announcing a series of strategic initiatives aimed at bolstering production capacity, expanding market presence, and delivering enhanced value to consumers. Balakrishna Tati, Chairman and Managing Director of Vintage Coffee and Beverages Limited, says “VCBL remains committed to delivering excellence in quality and service while spearheading innovation and expansion in the global coffee market. We are excited about the journey ahead and look forward to continued success and growth”. In response to the surging global demand for coffee, VCBL has made the…
According to TOI, the Jain Group, a prominent real estate developer based in Kolkata, is charting a significant expansion in the hospitality sector with plans to invest INR 500 crore by 2030. In a strategic move, the group has partnered with Sarovar Hotels Pvt Ltd to inaugurate a new hotel in Rajarhat within the next four months. Under the agreement, the Jain Group has allocated approximately INR 120 crore towards the project, with the management of the forthcoming establishment entrusted to Sarovar Hotels. The collaboration was solidified on Thursday with the signing of a memorandum of understanding (MoU) between the…
CareEdge Ratings estimates that in FY24, hotel industry will end at RevPAR growth of 12-14 per cent on the high base of FY23. The robust resurgence in demand, coupled with the gradual alignment of supply and demand of branded hotels room inventory, has been a noteworthy facet of the hospitality sector’s post-pandemic trajectory. The growth momentum in the hotel industry is expected to be sustained in FY25, resulting in likely y-o-y revenue growth by 9-11% backed by healthy domestic leisure and business travel and complemented by increasing foreign tourist arrivals, contributing to an improved credit profile for industry players. This…
With over 18 years of extensive experience in the hospitality sector, Binay brings with him a wealth of knowledge and a passion that personifies the commitment to service excellence and unparalleled guest experiences that define Four Seasons standards. Binay’s journey in the hospitality industry has been marked by a remarkable dedication to excellence, evident in his track record of achieving outstanding results. At his previous role at Taj Yeshwantpur, Binay spearheaded initiatives that led to a remarkable revenue growth of 126% year-over-year, surpassing targets and setting new standards for the hotel. Prior to joining Four Seasons Hotel Bengaluru, Binay served…
Tata Group’s IHCL, with a relentless pace, has inked deals for one hotel every week this fiscal, aggressively expanding its portfolio amidst an unrivaled surge in travel post-pandemic. The powerhouse behind Taj, Indian Hotels Company (IHCL), boasts a staggering tally of 52 signed properties and the inauguration of 34 new ones since April 1, 2023. Currently, with 218 hotels in operation and a jaw-dropping 91 in the pipeline, the conglomerate is poised at an imposing total of 309 establishments. Suma Venkatesh, EVP (real estate & development), IHCL said, “With the pace of growth increasing year on year, FY 2024 set…
United Telugu Kitchens (UTK) announced the inauguration of its second outlet in Bengaluru today. This adds to their reach as they continue to extend its culinary footprint beyond Telangana and Andhra Pradesh and introducing authentic Telugu flavors to Bangalorean food enthusiasts. Situated in the bustling neighborhood of Kadugodi, Whitefield, the new outlet showcases a meticulously curated menu, spotlighting cherished recipes passed down through generations of Telugu households. Each dish reflects the region’s rich culinary heritage, featuring indigenous ingredients and time-honored cooking techniques. Teja Chekuri, Managing Partner, UTK, shares his excitement at the new outlet added to their network, stating, “The response…
The Hotel And Restaurant Association (Western India) – HRAWI in conjunction with the Poona Hoteliers Association (PHA) successfully convened a transformative conclave titled ‘Empowering Hospitality’ on Thursday, March 21, 2024. Held at the Raddison Blu Hotel in Pune, the event saw industry stalwarts gather to explore critical facets of hospitality excellence. The event, which delved into the heart of hospitality excellence, featured discussions on ‘Fire Life Safety Strategies for Hotels’ and ‘Classification & Industry Status of Hotels’. Noteworthy dignitaries including Mr Devendra Potphode, Chief Fire Officer, Pune and Ms Shama S. Pawar, Deputy Director, Pune through experiences from their respective…
Diverse hotel check-out times across regions often pose a challenge for travelers, leading to unintentional overstay and extra charges. Acknowledging this issue, the government, informed by consumer feedback, is taking steps to address it. According to sources Government plans are underway for discussions with industry stakeholders to establish standardized check-out times, aligning with global norms. This initiative aims to streamline the process, enhancing convenience for consumers and fostering better communication between hotels and guests. With uniform check-out times nationwide, travelers can expect smoother check-ins and reduced inconvenience, ultimately improving the overall hotel experience. (Source: ZeeBiz)
Hotelogix, a cloud-based hospitality technology provider, said that India’s Suba Group of Hotels has adopted its muti-property management system. Hotelogix will provide Suba Group of Hotels with a robust and comprehensive platform to automate and streamline processes across member properties while gaining centralized control over group-wide operations to drive growth, revenue, and guest experience. With 100+ hotels spread across 60 destinations in India, as a leading hospitality entity, Suba Group of Hotels’ foremost mission is to offer unparalleled services and experiences to its guests. It caters to both business and leisure travelers. Modern in-house FnB outlets with contactless menu options, well-equipped…
