Hospitality sector
Embassy Group has recently announced that it is venturing into the hospitality sector with the launch of Hilton Bangalore Embassy GolfLink — a move for which the Embassy Group is investing approximately Rs 350 crore. The Hilton Bangalore Embassy Golf Link hospitality project being launched by Embassy Group is a top-notch, full service hotel located [...] Continue Reading »
With Bangalore having emerged as the biggest Indian market – in terms of room inventory – for US-based Starwood Hotels and Resorts, the city has been propelled to the top spot by the bigwig hospitality chain. Out of Starwood’s overall room inventory of 9,000 rooms in India, Bangalore – which is deemed India’s IT capital – [...] Continue Reading »
According to Ajay K. Bakaya, Executive Director of Sarovar Hotel, country’s hospitality sector is poised for a significant upturn over the next six months. He added that there has been a prolonged sluggish situation in the hospitality sector due to various factors including economic slowdown. A lot of reports including that of World Bank and [...] Continue Reading »
Unfinished JW Marriott Hotel in the city are being pulled down by the City builder Ceebros which have been bought for 480 crore last year from Hyderabad-based Viceroy Hotels. The hospitality sector in Chennai is going through a serious disaster with low occupancy in most five-star hotels, due to this reason Viceroy Group sold the [...] Continue Reading »
Chennai has recorded the highest occupancy levels amongst the top six Indian cities. Occupancy level stands at 64 per cent in Chennai. As per reports, the average room rate in H1 2012 was recorded Rs 4,900 in Chennai, which is an increase of approximately 4 per cent over 2011. The reason behind this is the [...] Continue Reading »
Mumbai-based real estate developer Royal Palms India is about to sell part of its hospitality developments. I has put its four hotels that include three 5-star category properties on the block. The properties are Hotel Imperial Palace, Palms Hotel Tower and Convention Centre and Palms Villas Hotel and one 4-star under construction property. The total [...] Continue Reading »
Real estate consultants Cushman & Wakefield, in its report entitled ‘Indian Hospitality Story 2012 & Beyond’ has mentioned that the top six cities of the country will witness around 50,000 hotel rooms added over the next five years. The report evaluates the hospitality sector situation in the metros of Mumbai, Delhi, Kolkata, Bangalore, Chennai, and [...] Continue Reading »
Luxury homes and the entry of retail and hospitality options have transformed the suburban areas of Puneinto lifestyle locations. Bhugaon, in Mulshi taluka, Pune district, a developing area, speaks the story of real estate potential. The erstwhile pristine place draws demand primarily due to its affordability. In comparison to other suburbs like Kothrud and Bavdhan, [...] Continue Reading »
With the developers betting big on the hospitality sector, Bangalore will house 20 new luxury hotels within the next three years. After three lackluster fiscals, Bangalore’s hospitality area is all set for a bounce back encouraged by the upturn in the commercial realty segment, and with occupancy levels for luxury hotels rising to 65%, Bangalore-based [...] Continue Reading »
Sarovar hotels, a well known hospitality firm is all set and ready to strengthen its presence in Africa. Sarovar has deeded a contract with M & H Corporation Ltd in managing three-star property. Experts from Sarovar Hotels say that they are contended to emerge their presence in Nairobi (Africa). As the feel good factor is [...] Continue Reading »
