Latest news with #AksharaSrivastava
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Business Standard
a day ago
- Business
- Business Standard
Tourism boom, rising spend give wings to travel companies' IPO plans
Last week, airport quick service restaurant player Travel Food Services listed on BSE to raise Rs 2,000 crore premium Akshara Srivastava Gulveen Aulakh New Delhi Listen to This Article Travel companies are riding high on the post pandemic growth in domestic and international tourism and are taking this opportunity to list on the bourses. Last week, airport quick service restaurant player Travel Food Services listed on BSE to raise ₹2,000 crore. On the other hand, Cordelia Cruise Operator Waterways Leisure Tourism had filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) last month for an initial public offering (IPO) of ₹727 crore. The closely-connected hospitality industry is also expected to see a flurry of IPOs this year. LaRiSa Hotels and Resorts, for
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Business Standard
11-07-2025
- Business Standard
Fast-melting ice Shivling leads to surge in Amarnath Yatra cancellations
The 38-day Yatra is officially set to conclude on August 9, but many fear it may end earlier due to the rapid melting of the ice Shivling Akshara Srivastava New Delhi Listen to This Article As of Friday evening, over 145,000 pilgrims offered prayers at the sacred 3,880-metre-high Amarnath cave shrine in Jammu & Kashmir's (J&K) Anantnag district, following the flagging off of the much-awaited annual Amarnath Yatra on July 3. Over 400,000 online registrations for this year's pilgrimage notwithstanding, concerns over extreme weather, security, and logistical changes are dampening the spirits of tour operators and hospitality businesses. The melting of the Shivling within days of the start of the Yatra has raised fears of a sharp drop in footfall in the coming weeks. According to tour operators, the Shivling had significantly receded by July
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Business Standard
08-07-2025
- Business
- Business Standard
Ventive and Marriott expand partnership to add 6 new hotels by 2030
Ventive Hospitality and Marriott International expand their partnership to develop six hotels in India by 2030, adding more than 1,400 rooms across key cities Akshara Srivastava New Delhi The hospitality division of Panchshil Realty, Ventive Hospitality, on Tuesday announced the expansion of its partnership with international hospitality chain Marriott to build six new hotels in India by 2030. The Blackstone-backed company, which listed on the bourses in December last year, is signing management contracts for upper upscale and upscale hotels in Varanasi in Uttar Pradesh, Mundra in Gujarat, and Pune and Navi Mumbai in Maharashtra. This will add over 1,400 branded rooms to the country. According to hospitality consultancy firms Hotelivate and Horwath, the branded hotel room count in India is expected to grow to 300,000 by 2030. Two of these hotels—the 161-room Varanasi Marriott Hotel and the 200-room Courtyard by Marriott at Mundra—are being developed by Ventive Hospitality and its subsidiaries. Meanwhile, the proposed 450-room JW Marriott and the 200-room Moxy in Navi Mumbai, as well as the 264-room Moxy Wakad and 200-room Moxy Kharadi in Pune, are being developed by the promoter group companies on Right of First Offer (ROFO). The American hospitality chain currently operates over 155 hotels and more than 29,000 rooms across more than 40 Indian cities. Earlier this year, Anthony Capuano, President and CEO of Marriott International, had stated that he expects India to become Marriott's third-largest market within five years, as the country's travel and hospitality sector continues to witness strong growth. "We will continue the momentum we enjoy in the upper, upscale, and luxury segments. We will also look at the lower end of the chain scales and create more opportunities for the value-conscious inbound international traveller and the domestic traveller," he had added. "We're excited to begin FY2026 on a strong note, particularly as it is our first financial year post-listing. This partnership not only strengthens our two-decade-long relationship with Marriott International but also marks a pivotal moment in our journey to redefine India's hospitality sector," said Atul Chordia, Chairman and Executive Director of Ventive Hospitality, in a release. "By leveraging Marriott's global expertise and our deep real estate knowledge, we aim to create distinctive destinations that elevate guest experiences for both business and leisure travelers, driving growth in the luxury and upper-upscale segments and expanding our footprint beyond Pune, Bengaluru, and the Maldives. This collaboration underscores our commitment to aggressive growth while maintaining prudent leverage," he added.
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Business Standard
02-07-2025
- Business
- Business Standard
Airports tap tech to reshape travel and boost commercial potential
The global airport automation market size is projected to surge to $85.12 billion by 2033 from $5.05 billion currently Akshara Srivastava New Delhi Listen to This Article As travel, both domestic and outbound, continues to remain steadfast, airports are rapidly evolving into technology-driven hubs and reshaping the travel experience while unlocking commercial potential. A new research that surveyed over 12,000 travellers from 21 countries, including 1,001 from India, highlights how digital innovation is transforming traveller behaviour, spending, and engagement at airports worldwide. The global airport automation market size is projected to surge to $85.12 billion by 2033 from $5.05 billion currently, fuelled by rising passenger expectations and investment in digital infrastructure. Among the surveyed Indian travellers, 82 per cent identified fast-track security and 85 per
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Business Standard
13-06-2025
- Business Standard
Off-season fades from India's travel scene amid flexible work, breaks
Long weekends, hybrid work flexibility driving this shift Akshara Srivastava Gulveen Aulakh New Delhi Listen to This Article The traditional concept of the 'off season' is rapidly becoming obsolete, as Indian travellers are no longer restricting their getaways to summer or winter holidays. Instead, they're seizing every opportunity — weekends, long breaks, and even workcations — to pack their bags and travel. Long weekends spread across the year, Gen Z seeking spontaneous experiences, and hybrid work flexibility are driving this shift to such an extent that destinations once considered seasonal like Goa, Corbett, Ooty, Dharamshala, Haridwar, and Manali. 'While the Goan off season typically begins from April 1 and goes on till October 31, we have started to
