Latest news with #IHCL
Yahoo
12 hours ago
- Business
- Yahoo
IHCL partners with JK Urbanscapes Developers for new Ginger hotel
Indian Hotels Company (IHCL) has signed a new Ginger hotel in Kanpur, Uttar Pradesh, India, through a collaboration with JK Urbanscapes Developers. The greenfield project marks a significant step in expanding Ginger's footprint in emerging Indian cities. The 100-key property is set to offer Ginger's signature dining outlet Qmin, a bar, a meeting room, and a fitness centre. IHCL new businesses and hotel openings executive vice-president Deepika Rao said: 'Kanpur is a prominent manufacturing and commercial centre in Uttar Pradesh, making it an ideal location for Ginger's offering. 'This signing is part of our strategy to build Ginger's presence in such emerging cities. We are delighted to extend our partnership with JK Urbanscapes Developers.' JK Urbanscapes Developers CEO Maneesh Mansingka said: "We are happy to continue our partnership with IHCL. Our projects with the company will contribute to Kanpur's hospitality landscape." With the addition in Kanpur, IHCL's portfolio in Uttar Pradesh will include 34 hotels, with 21 currently under development. IHCL and its subsidiaries operate a diverse range of brands such as Claridges Collection, SeleQtions, Taj, Tree of Life, and Vivanta. Founded by Jamsetji Tata of the Tata Group, IHCL has a global presence with 388 hotels, encompassing 139 under development in four continents, 14 countries, and more than 150 locations. Earlier this year, IHCL's Taj Group announced a partnership with Solitaire Group to establish Taj Ayodhya, set to be Ayodhya's first five-star hotel in the state, following its initial announcement in February 2024. In October 2024, IHCL expanded its portfolio with the signing of a new Gateway resort in Prayagraj, Uttar Pradesh. "IHCL partners with JK Urbanscapes Developers for new Ginger hotel" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Time of India
6 days ago
- Business
- Time of India
Monsoon deals drive travel surge as airlines, hotels tap off-season demand
Travel platforms , accommodation providers, and airlines are offering monsoon sales to push travel in a typically lean season, looking to capitalise on improved sentiment following a gradual easing of geopolitical turmoil. Several factors including unrest in top holiday destinations like Kashmir and broader geopolitical concerns had prompted a section of travellers to postpone their holiday plans this summer. This pent-up demand seems to be spilling over into the monsoon season. Flight bookings have surged 25-30% YoY for certain destinations, said ixigo. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo Deals Pour In This rise is for destinations such as Port Blair, Tirupati, Udaipur, Coimbatore, and Dehradun, said Rajnish Kumar, group co-CEO at the travel booking platform. Live Events Kumar said attractive monsoon offers by airlines and hotels are encouraging travellers to explore off-season getaways. India's largest airline IndiGo launched a monsoon sale from June 24-29, offering promotional fares for select domestic sectors and some international routes sectors, subject to inventory availability. Tata Group-owned Indian Hotels Company (IHCL) launched monsoon offers for Goa and Kerala. 'We are seeing occupancies of 85% till the end of this month for our hotels in Goa while average daily rates are slightly compressed compared to last year,' said Ranjit Phillipose, senior vice president, operations, Goa, at IHCL. Rental luxury home provider Saffron Stays is seeing a 30-35% growth over last year across regions like the Western Ghats, though demand in North India is flat, said founder Devendra Parulekar. 'With stock markets rebounding and July having more long weekends, we are expecting a 40% growth pan India by the end of the season,' he said. Bus bookings to popular monsoon destinations are also on the rise--like Bekal in Kerala seeing bookings double in July from a year earlier, said Rohit Sharma, COO of AbhiBus. 'Destinations such as Ooty, Coimbatore, and Wayanad are also seeing strong interest with an average 30% year-on-year uptick in bus bookings,' he said. Manoj Chacko, MD and CEO of FLY91, said the Goa-headquartered budget airline announced its monsoon ticket offer following the state government's decision to attract tourists during this lean season. The airline is offering discounted flights connecting Goa with Hyderabad, Jalgaon, Agatti, Pune, Sindhudurg, and Solapur. 'Sales have improved over the same period over last year,' said Chacko.
Time of India
18-06-2025
- Business
- Time of India
Hotel stocks lose steam, fall up to 14% in 2025. Time to check out?
Geopolitical tensions and the recent Air India tragedy have dampened sentiment around tourism, but hotel stocks have been under pressure for most of 2025, with declines of up to 14%. The disconnect between solid fundamentals and stock performance reflects investor caution — a trend mirrored across the broader tourism sector . EIH Limited , the flagship company of the Oberoi Group, has been among the worst hit, with its shares down 14% so far this year. Tata Group-owned Indian Hotels Company (IHCL) has seen a similar decline. Other notable laggards include Lemon Tree Hotels (-10%), Chalet Hotels (-9%), and Mahindra Holidays & Resorts (-5%). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Premium Apartments by Signature Global Signature Global Book Now Undo An outlier in the sector has been Valor Estate (formerly DB Realty), which has delivered over 34% returns in 2025. Despite being primarily a real estate firm with hospitality interests, the company reported a 347% YoY surge in Q4 revenue and managed to significantly narrow its losses. EIH posted a 12% growth in its Q4FY25 topline while its net profit in the January-March quarter remained flat. Meanwhile, IHCL reported strong quarterly earnings which grew 37% YoY in Q4 while the company recorded a 27% jump in its revenues. Chalet Hotels also posted an impressive set of numbers, delivering a 50% PAT growth and 25% revenue uptick. As for Mahindra Holidays, the sentiments have remained subdued because of lackluster results. The profit after tax (PAT) fell 13% YoY in the quarter under review while the topline plunged nearly 3%. Live Events Nifty Tourism index: Indigo flies solo The Nifty India tourism index, a collection of 14 stocks and a representative of the overall tourism sector has declined 3% in 2025. Only two stocks have managed to report positive returns -- one is Valor and the other is Interglobe Aviation . The stock of Indigo airline operator has outperformed Nifty with 18% returns versus 5% by the latter. The situation for travel and tourism has been pretty much the same despite impressive Q4 earnings growth. BLS International, for instance, saw a stellar 70% jump in PAT and 55% rise in sales but slumped over 23% YTD. Similarly, Westlife Foodworld reported a 99% PAT surge, yet fell nearly 12%. QSR company Devyani International which is synonymous with brands like KFC, Pizza Hut and Costa Coffee has seen its shares fall by over 9% despite a 16% growth in revenue and narrowing of Q4 losses. Restaurant Brands Asia shares have slipped 8.26 on the year-to-date basis. The Burger King and Popeyes owner narrowed its Q4 loss on the YoY basis while its revenue was up 6%. Likewise, Jubilant FoodWorks shares are down 4%. The company reported a sharp drop of 80% in its Q4 PAT though the revenue increased 34% YoY. In contrast, Interglobe Aviation (IndiGo) shares were driven by strong earnings momentum. The PAT was up 26% while revenue surged 62%. Hotel stocks: Check-in or check-out? Market expert, Kranthi Bathini , who is Director-Equity Strategy at WealthMills Securities said that he remains positive about the long term prospects of the Indian tourism industry, notwithstanding the recent setbacks and concerns around global economy and geopolitics. These factors have impacted the investor sentiments around hotel and travel stocks and this could continue in the medium-to-short term. With growing disposal incomes and return of corporate travel, the outlook remains positive, Bathini said. Stocks to buy Nuvama has a buy view on Lemon Tree Hotels shares with a marginal downward revision in the target price at Rs 166. It noted that the Bengaluru, Mumbai and Delhi markets clocked the highest RevPAR (Revenue Per Available Room) improvement among other micro markets on a YoY basis in Q4. "Across LTs, key brands, Aurika/Lemon Tree Premier/Lemon Tree/Red Fox/Keys reported a YoY RevPAR growth of 25%/11%/8%/20%/24%," the brokerage noted. JM Financial has a buy view in Juniper Hotels, a smallcap stock with a market capitalization of Rs 7,081.14 crore. The stock has a 29% upside for a price target of Rs 410. Bathini recommends a buy on SAMHI Hotels and IHCL for an upside of 20%. He has a long term view on both counters. Schloss Bangalore, which operates the Leela brand, was listed on June 2. The stock is currently trading below its issue price of Rs 435. Many top brokerages like Anand Rathi remain positive on the counter for a long term period. (Data Inputs by Ritesh Presswala) ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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Business Standard
12-06-2025
- Business
- Business Standard
Rajasthan HC refuses IHCL plea on land use dues to Jai Mahal Palace Hotel
The Rajasthan High Court has refused to stay a commercial court decision that had ordered IHCL, the hospitality company that operates Taj Hotels, to pay ₹1.52 crore to Jai Mahal Palace Hotel for excess land usage since 1984 and ₹84 lakh annually going forward. The June 6 order was made available on Thursday. Earlier, a commercial court in Jaipur had stayed the eviction of The Indian Hotels Company Limited (IHCL) from the Jai Mahal Palace Hotel till the matter was decided by arbitration. The court had also ordered an annual increase in the amount to be paid to Jai Mahal Palace Hotel if arbitration is delayed beyond May 2029. The High Court said that if any party is reaping benefits under the garb of a protection order obtained from any court, then it is also duty-bound to pay the price to the opposite party against whom the injunction order has been procured. It noted that 14.44 acres of land along with a constructed area of 3,353 square yards was given on licence to IHCL on August 28, 1985, but a dispute has arisen about illegal encroachment of 2.74 acres by the licensee (IHCL). 'A simple option before the licensee is either to vacate the premises in excess of what is mentioned in the agreement or pay interim compensation as directed by the Commercial Court till consideration of the matter by the Arbitral Tribunal,' the court noted. It said that the dispute between the parties is required to be adjudicated by the Arbitral Tribunal. Therefore, the court was "not expressing any opinion over the dispute but looking to the nature of the dispute." 'We are of the considered view that stay on certain terms of the order will cause prejudice to the opposite party. Therefore, by paying a sum of money, the appellant-petitioner (IHCL) is enjoying excess property of 2.74 acres, allegedly not part of the agreement between the parties,' the order noted. The case arises from an interim order of March 28, 2025, passed by the Commercial Court under Section 9 of the Arbitration Act, granting conditional protection to IHCL. The section empowers a court to grant interim measures of protection in cases of arbitration. The property in question was licensed in 1985 to IHCL, covering 14.44 acres. The respondent, Jai Mahal Hotels, alleged that IHCL had encroached upon an additional 2.74 acres of land. The Commercial Court allowed IHCL to retain possession of the full property on an interim basis, but imposed conditions requiring IHCL to pay substantial licence fees for the excess land. IHCL sought a stay on the enforcement of certain paragraphs which required it to pay ₹1.52 crore as arrears for excess land from 1984 to 2024, and ₹84 lakh annually for 2.74 acres from 2024 onwards. It also sought an interim stay on payments pending arbitral proceedings and a stay on automatic vacation of interim protection if payments are not made within 90 days. The High Court has now given IHCL the liberty to withdraw its application under Section 9 of the Arbitration Act if it does not desire to seek a stay.
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Business Standard
09-06-2025
- Business
- Business Standard
Indian hospitality companies see little room for growth in FY26: Icra
Growth in the Indian hospitality sector is expected to normalise in this financial year (2025-26/FY26) as revenue growth for listed companies is set to settle between 6 and 8 per cent, largely due to the base effect following three years of continuous double-digit revenue expansion seen by the industry between 2022-23 and 2024-25 (FY25). 'We estimate pan-Indian premium hotel occupancy to hold at 72–74 per cent in FY26, slightly higher than the 70–72 per cent levels witnessed in 2023-24 and FY25. The average room rates (ARRs) for premium hotels are projected to rise to ₹8,200–8,500 in FY26, after ₹8,000–8,200 in FY25,' credit rating agency Icra said in a new note on Monday, while revising the sector outlook to 'stable' from 'positive'. Supply growth is expected to lag demand over the next 12–18 months. Several hotels are undertaking renovations, refurbishment, and upgrades. While the near term may see muted foreign tourist arrivals in the aftermath of the terror attacks, the sector is expected to witness gradual recovery thereafter, along with demand driven by domestic tourism and improvements in infrastructure and air connectivity. Favourable demographics and anticipated growth in large-scale meetings, incentives, conferences, and exhibitions (MICE) events, with the opening of multiple new convention centres in the past few years, among other factors, will support growth over the medium term. Listed hospitality companies, like Taj parent Indian Hotels Company (IHCL) and the mid-scale chain Lemon Tree Hotels, continue to expect double-digit growth in FY26 while undertaking renovation activities across some of their properties. 'We expect to deliver strong growth with sustained margins and continued portfolio expansion, with a target of opening 30-plus hotels in FY26, three of which will be on our balance sheet. We are well on track to achieve our committed guidance of double-digit growth,' Puneet Chhatwal, managing director (MD) and chief executive officer of IHCL, told investors in a post-earnings call after announcing the company's January–March quarter (Q4) results last month. Companies are likely to report range-bound operating margins of 34–36 per cent for FY26, despite lower revenue growth. The margins will remain supported by factors like cost-rationalisation measures and asset-light expansions in recent periods. 'However, within the sample, it is likely to be a mixed bag, depending on renovations and increases in employee expenses amidst growing demand,' the note added. In FY25, IHCL spent over ₹1,000 crore towards capital expenditure (capex), of which half was used for renovations, routine maintenance, and digital initiatives. For FY26, the company has earmarked over ₹1,200 crore. 'There's also large renovations planned in some of our assets, including Taj Palace in Delhi, Fort Aguada in Goa, St James' Court in the UK, and Taj Bengal, Kolkata. So essentially, if you put it all together, 60–65 per cent of the capex would get spent on renovations and digital investments,' Chhatwal added during the analyst call. At Lemon Tree Hotels, meanwhile, renovation costs are expected to impact gross ARR and occupancy in the coming year. 'The timely completion of renovation activities in the owned portfolio will further improve gross ARR and occupancy. Increased investment in renovation expenses will continue into FY26 and a little bit into 2026–27, until the entire portfolio of our owned hotels — about 6,000 rooms — has been fully renovated and refurbished. After this, renovation expenses will close at 1.5–1.7 per cent of revenue on an ongoing basis,' Patanjali G Keswani, chairman and MD at the chain, told investors after announcing the company's Q4 results.
