HOTEL ASSOCIATION
Persistent heat wave in the US expected to shatter new records as it bakes West and swelters in East
A prolonged heat wave is currently affecting the U.S., setting new records across the nation. Dangerous temperatures soaring into the 100s are expected in the West, while the East will remain hot and humid throughout the week, according to forecasters on Sunday. An excessive heat warning, the highest alert from the National Weather Service, is in place for approximately 36 million people, or about 10% of the U.S. population.
Budget 2024: Hospitality players seek infra status for hotels
Advocates from the hospitality industry are urging the government in the upcoming Union Budget to classify hotels as infrastructure to enhance investment appeal and move away from luxury or 'sin' goods labels. They seek incentives like tax breaks for eco-friendly practices, highlighting tourism's potential for GDP growth and job creation.
Infrastructure status: Hotel companies' budget wish
The hospitality industry is advocating for infrastructure status in the upcoming budget to access better financing options and attract investment. There is a growing need for more hotel rooms to support the ambitious tourism targets set for the future.
Hotel Association of India seeks infrastructure status for hotels ahead of budget
The hospitality industry is advocating for infrastructure status for hotels ahead of the budget, highlighting the importance of access to finance and investment opportunities. With a focus on job creation and industry growth, government officials are considering expanding the harmonized list of infrastructure to support the sector's development. Stay updated for potential updates in the upcoming budget.
AMFI releases new stock categorization, cut-offs for largecap hiked to Rs 84,000 crore
AMFI updated market cap categories: large cap threshold at Rs 84,300 crore, mid cap at Rs 27,600 crore, effective till January 2025. Stocks moving: Hero Motocorp to large cap, SRF to mid cap. Small caps increased, including SRM Contractors. Aligned with Nuvama predictions; affects fund visibility, manager decisions, and reclassification, with limited immediate flow impacts.
No guarantee: Jaiprakash Associates recovery may be hard for creditors
Bankers said guarantees by chairman Gaur and vice chairman Sunil Kumar Sharma totalling close to Rs 800 crore are of little consequence after nearly seven years since the company was first referred to bankruptcy by the Reserve Bank of India (RBI) in 2017 among the 26 large defaulters of bank loans during that period.
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IOA EC members decide not to take any allowance for their Paris trip
The Indian Olympic Association (IOA) Executive Council members have decided not to accept a higher dearness allowance than the athletes for the Paris Olympics to avoid a negative impact on their image. They assert financial independence and will make their own travel arrangements, despite being budgeted to receive USD 300 per day. The council met to address public criticism and will discuss the issue further before the Indian contingent's send-off ceremony.
FHRAI seeks infra status for hotels, convention centres in pre-Budget meet
The Federation of Hotel and Restaurant Associations of India (FHRAI) has urged the government to grant infrastructure status to all hotels and convention centers costing Rs 10 crore or more. This request, part of their pre-budget recommendations, aims to boost investment in budget hotels. FHRAI also proposed a uniform 12% GST rate for all hotels and advocated for separating restaurant tariffs from room tariffs to reduce compliance issues
Shimla water crisis: Tourist-packed hotels scramble for water as supplies drop sharply
This summer, extreme heat waves have hit India's northwest region, worsening a severe water crisis in Himachal Pradesh, especially in Shimla. The city, which usually needs 43 million liters of water daily, now receives only about 30 million liters, necessitating water rationing every 3-4 days. The demand spikes to 48 million liters during the tourist season. Hotels are buying water from private tankers.
EIH Associated Hotels shares rally 17% ahead of bonus shares issue plan
EIH Associated Hotels surged 17% to Rs 845 on BSE as it plans to issue bonus shares. The company's strong performance is evident from Trendlyne data. It is part of The Oberoi Group, known for luxury hotels and various services.
Delhi hotels to get busy with post-poll activity
Bookings in key hotels in Delhi are rising due to political activities involving key ministers, new MPs, and the swearing-in ceremony of the new government.
Key Delhi hotels see an uptick in bookings post election results
Hoteliers said they expect bookings to pick up further in the coming weeks with corporates also looking to plan trips after ministerial allocations. Tarun Thakral, chief operating officer of the Le Meridien hotel, noted a surge in bookings since Wednesday due to the hotel's central location near the Parliament and government ministries. He mentioned that they are currently at 70-80% occupancy and could reach up to 90% soon.
Jaypee creditors pick IBC over NARCL's Rs 10,000 crore offer
Lenders plan insolvency route for debt-laden Jaypee, delaying debt sale to NARCL. Jaypee owes Rs 30,000 crore to 32 creditors, including ICICI Bank, and was admitted to NCLT recently after a six-year delay.
Insolvency proceedings ordered against Jaiprakash Associates; these Jaypee homebuyers won't be impacted
Jaypee home buyers: Jaiprakash Associates Ltd (JAL) is currently in the process of insolvency proceedings, and an appointed resolution professional by the NCLT will now assume control. As per a news report from the Times of India, the board, previously led by the Gaurs, will cease to function.
Here’s how this Gujarati chartered accountant bagged free stay for his kids & cut transport expenses in Dubai
Shah disclosed his accommodation at a hotel charging Rs 12,000 per day. The entrepreneur emphasized his preference for hotels where additional charges for his children were not incurred. "It's always a challenge with growing kids, but fortunately, I consistently find deals where the 'Free Kids' allowance aligns with my children's ages. Moreover, these hotels offer access to Kids Clubs with babysitting services and various activities for children," he wrote.
Associated Coaters IPO opens today: Check issue size, price band, GMP and other details
Associated Coaters IPO aims to raise Rs 5.11 crore. The IPO opens on May 30, with final allotment on June 4, and listing on June 6.
India's biryani craze keeps food, delivery companies on their toes
Grover said the company is also conducting a pilot in Mumbai for ‘Mehfil-e-Behrouz’. “Under this, we will arrange a buffet-like setup for people wishing to host a gathering through Behrouz complete with table runners, and kebabs and curries as accompaniments,” he added.
Temperature surges, so does summer travel this year
According to MakeMyTrip's summer travel trends, the family travel segment has grown by 20% this year, as compared to the summer of 2023, while solo travel grew by 10% over last year's numbers. In terms of most booked holiday packages this summer, destinations with cool mountain terrains are the top picks with Himachal Pradesh, Kashmir, Goa, Kerala and the North East emerging as most sought after places.
No deliberations started yet by Kerala govt on liquor policy: Excise Minister M B Rajesh
Kerala's Excise Minister M B Rajesh has denied any discussions on the state's liquor policy, despite reports suggesting the Left administration may withdraw the 'dry day' norm. Rajesh cited a voice clip allegedly suggesting a bar association member was asking for a favourable liquor policy. He stated that strict action would be taken against such attempts. Rajesh also confirmed that the proposal of bars in IT parks was part of the earlier liquor policy and approved by the legislative Assembly's subject committee.
Indian origin hotel investors increasing in overseas markets
Accor opened Raffles London at The OWO, London’s most expensive hotel owned by the Hinduja Group, expressing gratitude to the Hindujas for the partnership.
Diddy publicly apologises for assaulting ex-girlfriend Cassie: Calls his actions 'Inexcusable'
Sean 'Diddy' Combs publicly admitted to physically assaulting his ex-girlfriend Cassie in a hotel hallway in 2016 after a security video of the attack was released by CNN. In a video apology posted on social media, Diddy expressed deep regret for his actions, calling them "inexcusable" and stating that he was "truly sorry." The incident, which showed Diddy punching, kicking, and dragging Cassie, led to a lawsuit from Cassie alleging years of abuse, settled shortly after it was filed.
Sean Diddy Combs Cassie Ventura video controversy: Check allegations, timeline of events
Sean Diddy Combs Cassie Ventura video has grabbed eyeballs and now the rapper has sought an apology after allegations and lawsuits.
IHCL expands partnership with CG Hospitality; eyes 25 hotels in Indian sub-continent by 2025
The portfolio of 25 properties by 2025, will include 11 operating hotels with 900 keys and will add another 14, which will be under one platform -- 'Ekyam' -- to pursue opportunities in destinations that offer adventure experiences across the Indian Ocean and Greater Himalayan regions and wildlife escapes, IHCL Managing Director and Chief Executive Officer Puneet Chhatwal told reporters.
Relais & Châteaux president says the hospitality association should have a wider presence in India
Relais & Châteaux plans to expand in India due to high trip spend. President Gardinier studies properties fitting association's DNA. Emphasis on local design and gastronomy. Top source markets are US, France, UK.
Lok Sabha elections: 20% discounts on hotels in Delhi's Karol Bagh and Najafgarh
Karol Bagh and Najafgarh hotels offer 20% voter discounts during Lok Sabha elections to boost democracy and civic duty. Voters required ink mark proof for deals, with vendors potentially offering similar discounts and a 24-hour reservation window.
Cricket tourism and hospitality takes off in the US
Founded by an Indian-American couple from Bihar, Florida-based Cricketbuster is trying to capture this "cricket mania" among the Indian-American population and those from the cricket-playing nations by offering them customisable travel packages that include official match tickets, hotels, flights, cruises and many other attractions for international cricket tournaments and the all-important T20 leagues all across the world.
KB Kachru elected as Hotel Association of India President for 2-year term
KB Kachru elected president of HAI, succeeding Puneet Chhatwal. Rohit Khosla as VP. New management team elected for a two-year term. Dr JK Mohanty, Sanjay Sethi, MP Bezbaruah, IHCL Seleqtions, Shashank Bhagat, Sonali Chauhan also elected.
Karnataka eateries, hotels demand industry status, easier licensing process with state budget on the horizon
With the state Congress regime’s second budget slated for Friday, hotels and restaurants are pressing the government for the industry status and easing out licensing challenges. An industry status like restaurants in Gujarat and neighbouring Maharashtra enjoy, would give them benefits in property tax and electricity tariffs.
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