LEISURE SECTOR
Premiumization in India: Unlocking investment opportunities
Consider the automotive industry: 60% of car registrations in India in FY24 have been SUVs, highlighting a preference for higher-end vehicles offering status and comfort. In the two-wheeler segment, growth is driven by demand for power bikes Similarly, metropolitan real estate markets, particularly in Mumbai, NCR, Bangalore, and Chennai show a rise in demand for luxury properties India's luxury housing market is thriving, as it recorded a 10 per cent year-on-year (Y-o-Y) growth in sales during the first quarter (Q1) of 2024.
Budget 2024: Defence allocation may be a focus, will India’s shipbuilding sector gain from it?
As the Union Budget, set to be presented on July 23, approaches, the defence sector is eagerly anticipating increased allocations, particularly in shipbuilding. Experts predict a continuation of the trend of higher defence spending. Industry expert Deven Choksey highlights significant shipbuilding needs for defence and inland transportation under the Sagarmala project, as well as commercial passenger ships.
Union Budget: Will Budget 2024 book tourism’s ticket to growth?
Budget Expectations: The 2024 interim Budget saw a 44.7% increase in tourism sector allocation, a promising sign for industry growth. With job opportunities on the rise, stakeholders eagerly await the upcoming Budget announcements. Strategic investments in infrastructure and connectivity are crucial for India's booming domestic travel market. Expectations include simplified GST regulations and tax reforms to drive sustainable tourism practices and economic growth.
Budget focus? AIM for 3 sectors; Adani Enterprises good proxy for airport & data centre plays: Deven Choksey
Deven Choksey forecasts significant growth in shipbuilding industry over the next five years, highlighting the potential entry of major players like Adanis. Budget expected to support FMCG sector with focus on rural development. Overall positive outlook for various sectors. Budget is going to focus on three areas-- A for agriculture, I for infrastructure, and M for manufacturing. We should look at each of these three areas.
Should investors take a fresh bet on railway stocks just ahead of Budget? Gurmeet Chadha answers
I think you have to be selective here and probably differentiate between life and non-life insurers. If you see the June data, there are some green shoots. Even LIC has had 30% APE growth. APE is your annualized premium equivalent because a lot of policies are also sold as single premium or where the premiums are upfronted. HDFC Life reported a decent set of numbers.
Rise in value-seeking customers, key FMCG sectors face tampering of growth: Report
The report highlighted a significant shift in consumer spending patterns with a rise in value-seeking buyers, which is evident across consumer businesses. While the consumer may increase their spending on leisure activities, suggesting a good performance for the aviation and hotel industries in FY2024-25, it added.
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Going forward, expect good growth from Aadifidelis Solutions: Shikhar Aggarwal, BLS International
Shikhar Aggarwal, Joint MD, BLS International Services talks about inclusion in Nifty tourism index, synergies from buying stake in Aadifidelis Solutions and more. Aggarwal also discusses the major contract renewals which are expected in the next six to nine months. He also says that in one, one-and-a-half years, multiple contracts are expected from European and North American markets
Auto, auto ancillary sector a good theme to play the rural recovery: Devang Mehta
Some of the FMCG participants also came in this analyst guidance that most of these companies are now trying to come back and there was a decent volume growth which is seen.
Royal Orchid aims for major expansion with 11,000 keys by 2026
Royal Orchid, a hospitality company based in Bangalore, plans to expand its portfolio to 11,000 keys over the next two years by entering new markets in Jammu & Kashmir, Uttar Pradesh, Andhra Pradesh, and Telangana, and by enhancing its presence in existing locations.
IndiGo, Air India upgrade playbooks to keep up with India's rising middle class
India's rising affluence is driving a significant shift in the lifestyle of the middle class, with a growing preference for premium products and experiences, both on the ground and in the sky. Airlines are capitalizing on this trend by offering luxurious amenities to cater to the surging demand, such as roomier seats, gourmet meals served on designer tableware, and lavish vanity kits.
India’s retail realty expansion to continue led by urbanization, consumption growth
The top seven Indian cities--Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Pune, Kolkata, Chennai--will add over 45 million sq ft of retail real estate through 88 new developments. This anticipated growth will outstrip the retail space supply from the past decade (2014-2023), which totaled around 38 million sq ft, showed data from JLL India.
We are poised to open a minimum of 25 hotels this year: Puneet Chhatwal, IHCL
I think as things are beginning to normalise, this global travel will also start coming back. And as of this October, we should see us getting close to the pre-COVID level. And it is only next year that India will cross the international arrival numbers that it had prior to COVID.
India well poised to benefit from great opportunities coming from hotels and hospitality sector: Puneet Chhatwal, IHCL
And if things keep going this way, and it is anybody's guess, I know that there is a new book coming out in the market which predicts India at 47, with more than 50 trillion economy and there are others that are predicting at 27 or 28.
Hotel industry clocks 11 pc annual growth in revenue per available room during Jan-Mar: Report
India's hotel industry saw an 11% rise in revenue per available room in Q1 2024, with Chennai leading at 21.7%. The growth was driven by an 8.5% rise in Average Daily Rate, fueled by corporate travel, weddings, and MICE demand.
Indian hospitality sector witnesses 11.4% YoY RevPAR Growth in Q1 2024: JLL
In the first quarter of 2024, the Indian hospitality sector experienced positive growth, with a significant increase in Average Daily Rate (ADR) driving Revenue Per Available Room (RevPAR) up by 11.4% compared to the same period in 2023. This growth was fueled by a rise in corporate travel, weddings, and MICE demand. The sector also saw a 5.5% increase in RevPAR from the fourth quarter of 2023, supported by strong occupancy levels and ADR growth. The outlook for the sector remains optimistic, with continued growth expected in the second quarter driven by business travel and leisure demand.
India's aviation may fly into a good growth zone, air passenger traffic may grow around 8-11%: ICRA
India's airport operators and aviation stakeholders are expected to see a positive outlook as air passenger traffic is projected to grow 8-11% YoY to 407-418 million this fiscal year. The growth will be driven by increased leisure and business travel, improved connectivity, and rising international travel. Revenues for ICRA's sample set are estimated to rise 15-17% YoY, with the Indian airport passenger traffic outperforming global trends and expected to remain strong.
Thomas Cook India Group reports net profit of Rs 271 cr for FY24
On a quarterly basis, Thomas Cook India Group reported a total income of Rs 1693 crore for the quarter ended March 31, up from Rs 1324 crore. The company reported a net profit of Rs 58 crore for the quarter ended March 31, 2024, up from Rs 10.2 crore for the fourth quarter of fiscal year 2023.
Europe's STOXX 600 opens higher as travel and leisure sector shines
Europe's STOXX 600 index edged higher on Monday as travel and leisure stocks led sectoral gains, with this week's key U.S. inflation prints and a slew of economic data from the euro zone set to test the benchmark index's record-breaking run.
Time to look at long-term stories rather than momentum picks now: Seshadri Sen
Seshadri Sen analyzes market dynamics post-exit poll, emphasizing short-term corrections and long-term investment strategies in manufacturing, consumer discretionary, cement, and aviation sectors. He advocates strategic stock selection and patient investing for optimal returns.
DLF to invest Rs 2,200 cr to build shopping mall in Gurugram
At present, DLF has a retail footprint of around 42 lakh square feet comprising nine properties, including malls and shopping centres, mainly across Delhi-NCR. Around 3.4 lakh square feet of retail portfolio is under DLF Ltd and the rest under the DLF Cyber City Developers Ltd (DCCDL), a joint venture between DLF and Singapore sovereign wealth fund GIC.
Leisure is leading although individual business travel is coming back:Hyatt Hotels CEO
Hoplamazian sees a positive outlook for India's hospitality sector with strong demand drivers in domestic business travel, international tourism recovery, and a sustainable growth environment as leisure travel leads the industry. He says, the amount of money spent on domestic leisure travel versus inbound leisure travel is something like seven to one.
Hotels to see 9-11% revenue growth in FY25; third straight year in current upcycle: CareEdge Ratings Report
CareEdge Ratings predicts a 12-14% revenue per available room growth for the hospitality industry in FY2024, followed by a 9-11% growth in FY2025. The sector's recovery in occupancy rates and average rates has boosted revenue per available room. Average room rates are expected to rise, reaching Rs 7,700 to Rs 7,900 in the next fiscal. Domestic travel is driving demand, with international travel yet to fully recover. The sector is expected to see steady high occupancies and continued revenue growth in FY2025.
As more women travel solo, the party has begun all over again
Travel companies and hotel chains including Thomas Cook, SOTC and Leisure Hotels Group are increasing focus on women travellers amid a surge in demand for trips abroad as well as within the country.
NCLT rejects resolution plan for Cambay Hotels operator
“The resolution plan approved by CoC (committee of creditors) has not been done with a process that can be approved by this adjudicating authority as it lacked a due and transparent process of examining each application on its merits,” the division bench of judicial member Chitra Hankare and technical member Velamur G. Venkata Chalapathy said in its order on March 1.
Leisure Hotels Group draws up plans to expand to 100 properties by 2030
The company, that owns and runs properties and concepts such as Aloha on the Ganges in Rishikesh; The Riverview Retreat, Corbett National Park; The Earl‘s Court in Nainital; and The Manor properties in Bareilly and Kashipur, is considering locations across markets such as Udaipur, Jodhpur, Chittorgarh, Kanha, Khajuraho, Vizag, Pondicherry, Kanyakumari, Thekkady and Kodaikanal to expand further.
Dubai announces five-year multiple-entry visa for tourists from top source market India amid record visitor numbers
Dubai has introduced a five-year multiple-entry visa to facilitate travel from India, aiming to enhance tourism and business engagement. The visa allows a stay of up to 90 days, extendable once, with a total stay not exceeding 180 days annually. In 2023, Dubai welcomed 2.46 million overnight visitors from India, a significant increase from previous years, contributing to a record-breaking performance in tourism.
Indian hotel industry revenue expected to grow 7-9 pc in FY25: ICRA
The Indian hotel industry is expected to grow 7-9% with high occupancy in FY2025. Demand from domestic leisure travel, MICE, weddings, business travel, spiritual tourism, tier-II cities, and domestic tourism will drive growth. FTA recovery depends on the global macroeconomic environment and consumer sentiments.
Entertainment sector leasing registers 179% Y-o-Y growth
The entertainment sector, including movie theatres, gaming arcades, and children's play areas, experienced a doubling of space take up in 2023. Consumer demand for entertainment experiences within retail spaces increased significantly due to factors like technology advancements and the release of blockbuster hits. Urban cities, including Bangalore, returned to normalcy with notable brands securing space in retail spaces.
Leisure travel may pave the road for realtors to open malls on highways
Experts predict that an upgrade in infrastructure and an increase in leisure travel will drive growth in highway retail. Brands such as Tata Croma, Starbucks, and Uniqlo have already opened or are planning to open stores on highways. Developers are also investing in highway retail, with projects such as a 500,000 sq ft mall on the Mumbai-Nashik highway and a 1.5 million sq ft retail space on the Chandigarh highway.
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