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<ul><li>After a complete halt during the COVID-19 pandemic, hotels in India are beginning to clock sales and are back on the path to recovery.</li><li>Most of the listed hotels have already shown a gradual quarter-on-quarter growth with their latest results for the October-December quarter of the current financial year.</li><li>The <keyword id="2173225" type="PERSON" weightage="20" keywordseo="travel-and-tourism">travel and tourism</keyword> industry seems to be an elated industry with the news of the COVID-19 vaccine being rolled out across the globe.</li></ul>The stocks of India’s hotel companies have rebounded in the past few months, as several indicators signal a recovery for travel and tourism. After a complete halt during the COVID-19 pandemic, hotels in India are beginning to clock sales and are back on the path to recovery. Here’s how India’s top hotel stocks have fared in the last six months <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change in share price in last six months </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IHCL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+36.77% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lemon Tree Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chalet Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+27.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EIH Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+28.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mahindra Holidays and Resorts </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+40% </td></tr></tbody></table> While most of the stocks are yet to recover to their pre-COVID levels, the recovery in the last few months have been fuelled by various reasons and especially, with the distribution of the COVID-19 vaccines. <cmsannotation type="cmsannotation" annotationid="Vaccine – shot of hope for travel and tourism" comment="subhead" text="Vaccine – shot of hope for travel and tourism">Vaccine – shot of hope for travel and tourism</cmsannotation> The COVID-19 vaccine rollout has started across the globe triggering hopes for people to go on leisure as well as business travel. “While we anticipate a gradual revival in corporate travel, leisure demand is already strong and this traction is expected to further increase in months ahead,” said a report by ICICI Direct dated February 12. <cmsannotation type="cmsannotation" annotationid="Resilience of hotels" comment="subhead" text="Resilience of hotels">Resilience of hotels</cmsannotation> Most of the listed hotels have already shown a gradual quarter-on-quarter growth with their latest results for the October-December quarter of the current financial year. Analysts say this is reflecting in their share price movement. “One is the business recovery, from a complete standstill gradually the businesses have started recovering. Secondly, they have done a good job of cost rationalisation during the pandemic,” Himanshu Shah of Dolat Capital told Business Insider. <div type="image" title="hotels." msid="81032343" hostid="261"></div> Even unlisted companies like OYO Hotels and Homes have seen a recovery in business thanks to “revenge travel”. The term gained popularity in China, after people having been stuck in a lockdown, started travelling within the country, just to get out of their homes. OYO said that during the Valentine’s Day weekend, its online traffic was up by 70% of pre-COVID levels. <cmsannotation type="cmsannotation" annotationid="Premium hotels will be the first to cater to demand" comment="subhead" text="Premium hotels will be the first to cater to demand">Premium hotels will be the first to cater to demand</cmsannotation> The coronavirus pandemic has changed a lot of things, and the most important of them all is our priority towards safety and hygiene. And that’s where premium hotels will have an edge over others as people travel more often. “Most of the listed stocks are premium hotels. Business and leisure travellers will now prefer branded names as they will still be cautious,” Kranthi Bathini, equity strategist at WealthMills Securities told Business Insider. Despite all the disruptions during the pandemic, travel and tourism is set to make a big comeback as Bathini puts it “man is made for mobilisation”. <cmsannotation type="cmsannotation" annotationid="Back on track for business" comment="subhead" text="Back on track for business">Back on track for business</cmsannotation> Hotel companies have also announced that they are now back on track with their plans for new hotels across the country. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">New projects already under development or signed </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">To be completed by </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chalet Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Commercial projects at Renaissance Complex, Powai, Mumbai Marriott Complex, Whitefield, Bengaluru </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4FY23 &amp; Q4FY22 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lemon Tree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lemon Tree Mountain Resort, Shimla Lemon Tree Vembanad Lake Resort, Alleppey, Kerala Aurika, Intl. Airport, Mumbai </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai project to be completed by 2022. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IHCL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Signed six new hotels with over 1100 rooms in third quarter </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr></tbody></table> And that may translate into more business for hotels. “Despite investment activity being paused since March 2020, there are emerging signs of re-valuations and a slow demand revival, improvised cost structures and reduced profit levels in the next two years,” said a report by real estate services company JLL. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/info-edge-is-now-worth-almost-10-billion-even-with-its-profits-falling-for-five-quarters-in-a-row/articleshow/80925389.cms">Info Edge is now worth almost $10 billion even with its profits falling for five quarters in a row</a> <a href="https://www.businessinsider.in/science/space/news/from-ambani-adani-to-godrej-indias-treasure-trove-of-satellite-data-goes-beyond-helping-startups/articleshow/80989166.cms">From Ambani, Adani to Godrej — India's treasure trove of satellite data goes beyond helping startups</a>

Indian hotel companies have shown resilience during the pandemic and now the markets are celebrating them

<ul><li>EIH Hotels which operates the Oberoi, Trident chain as well as one of Delhi’s oldest hotels – Maiden, has seen its stock price battered since late February. </li><li>Chalet Hotels, which runs – Marriot, Hyatt and Novotel in India, saw its profits jump three times in Q4FY20 but even then the market fears saw its share price down by 2% on June 9.</li><li>The hospitality, travel and tourism industry being severely impacted due to the coronavirus pandemic.</li></ul>From Oberoi to <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword>, the Indian hospitality industry opened doors for business on June 8, but the market is still skeptical of people booking rooms. The latest trigger for panic selling in the shares of hotel stocks came was the delay in declaration of earnings by EIH, which operates the Oberoi, Trident chain as well as one of Delhi’s oldest hotels – Maiden. <div type="image" title="EIH shares." msid="76281467" hostid="261"></div> However, EIH is not alone. Chalet Hotels, which runs the premier hotels – Marriot, Hyatt and Novotel in India, saw its profits jump three times to ₹42 crore in the quarter ended March 31. However, even then the market fears saw its share price down by 2% on June 9. With the hospitality, travel and tourism industry being severely impacted due to the coronavirus pandemic, almost all of India’s listed hotels have seen their share price tumble since February. “It is well known that the hospitality and tourism industry is the worst affected by the outbreak of COVID19 (coronavirus). This has been reflected in the stock prices of hospitality stocks, which have declined by 62% to 82% from their 52 week highs,” said a report by Nirmal Bang on the hospitality sector dated June 2. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share price change since the beginning of 2020 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chalet Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-53% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EIH Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-48.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Hotels Company Limited </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-37.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lemon Tree Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-60.4% </td></tr></tbody></table> India’s hotels were shut for almost three months due to the coronavirus lockdown, and only some opened up as quarantine centres for international returnees in May. Sanjay Sethi, MD &amp; CEO, Chalet Hotels while announcing initiatives like sanitized stay, deferred hotel construction said they will help in the near mid-term revival. “With the new regulations to open up the economy we are gearing‐up our portfolio for a quick scale up and eagerly waiting to welcome our guests,” said Sanjay Sethi, MD &amp; CEO, Chalet Hotels. However, the optimism of the hotel industry still faces a challenge – whether travel will actually resume anytime soon. With work from home and video conferencing being the new norm, business travel could be impacted. “Leisure demand will likely be the first to bounce back. Domestic corporate travel will depend on the economy,” said a recent report by STR realty. And the economy isn’t looking good. <div type="Article" hostid="261" msid="76274381" title="World Bank projects global economy to shrink by 5.2% in 2020" mstype="2" mssubtype="0"></div> For leisure travel, hoteliers are excluding ‘airline travel’ and are looking at weekend getaway spots or ‘<a href="https://www.businessinsider.in/business/news/oyo-mahindra-holidays-emirates-and-boeing-agree-people-wont-fly-for-a-while/articleshow/75731204.cms">driving destinations</a>’ as India opens its state borders. The hope for budget hotels Corporates, who are cutting down costs, could now turn to budget hotels that they consider safe and hygienic. And that’s what budget hotels like Lemon Tree, OYO, <keyword id="2870818" type="PERSON" weightage="20" keywordseo="FabHotels">FabHotels</keyword> are betting on. OYO Hotels &amp; Homes, FabHotels have all launched a spree of initiatives for sanitized and clean hotels to bring in consumers. “It has been a long wait, but we’re delighted to welcome our guests once again to our select hotels across India. All you need to do is look for a #SanitisedStay tag &amp; we’ll take care of the rest. #AtitiDevoBhava,” wrote OYO founder Ritesh Agarwal on Twitter. OYO’s rival in the budget hotels space – FabHotels too has gone in the similar route advertising “100% Safe Place to Stay” hotels. “From an economic standpoint as hotels and tourism in India have suffered unprecedented financial damage over the last 70 days, losing more than 20% of the annual business already, with a prolonged recovery expected now,” said Vaibhav Aggarwal, Founder &amp; CEO, FabHotels. SEE ALSO: <a href="https://www.businessinsider.in/business/news/parle-g-clocked-record-sales-in-may-it-may-be-because-broke-and-starving-migrant-labourers-could-barely-afford-anything-else/articleshow/76280162.cms">Parle G clocked record sales in May⁠— it may be because broke and starving migrant labourers could barely afford anything else</a> <a href="https://www.businessinsider.in/business/corporates/news/anand-mahindras-sanjivani-solution-for-cos-think-like-a-startup-and-do-a-marie-kondo-style-clean-up-of-portfolio/articleshow/76275190.cms">Anand Mahindra’s Sanjivani solution for cos – think like a startup and do a Marie Kondo style clean up of portfolio</a> <a href="https://www.businessinsider.in/business/corporates/news/titan-company-profit-revenue-growth-for-fourth-quarter-ended-march-31/articleshow/76266434.cms">Titan tightens cost enough to clock a 21% growth in profit⁠— the best in five quarters</a>

The owner of Oberoi and Trident defers results triggering a sell-off in India's hotel stocks

New Delhi, Jan 18 () Chalet Hotels on Saturday said it has signed a share purchase agreement (SPA) to acquire Belaire Hotels Pvt Ltd -- owner of Novotel Hotel in Pune -- and its affilate entity SHPL for an aggregate enterprise value of around Rs 290 crore.
The completion of the transaction is subject to fulfillment of certain conditions precedent as agreed in the SPA, Chalet Hotels said in a filing to the BSE.
The Novotel hotel is operated by AAPC India Hotel Management Pvt Ltd (part of Accor Group) under a management agreement, it added
With this new relationship, Chalet marks the beginning of its tie-up with Accor, one of the largest global hospitality players with significant presence in India with key brands such as Fairmont, Sofitel, Novotel and ibis amongst others, Chalet Hotels said. 
Commenting on the development, Chalet Hotels MD and CEO Sanjay Sethi said, "This move is in line with our growth strategy of strengthening and expanding our portfolio to new geographies with strong demand potential."
The company believes that Pune is an attractive market and has sizeable commercial office development, resulting in strong hotel demand dynamics, he added.
"We look forward to working with the very capable management team of Accor to turn around this hotel through capacity enhancement and aggressive growth in market share," Sethi said. AKT MKJ

Chalet Hotels inks pact to acquire Belaire Hotels for enterprise value of Rs 290 cr

From home sales and jewellery to power consumption, these are all the sectors that are back to pre-pandemic levels

<ul><li>India’s hotel industry is headed for a slow recovery from the coronavirus pandemic, it is also poised to be a major contributor to <keyword id="977682" type="PERSON" weightage="20" keywordseo="online-travel">online travel</keyword>’s doubling growth over the next five years. </li><li>A Goldman Sachs report pegs hotels to be the fastest growing segment within the sector with a CAGR (compounded annual growth rate) of 20%.</li><li>Even with the hopeful outlook, hoteliers will have to be patient as the recovery is expected to be slow in the near-term.</li></ul>The battered Indian hospitality industry can make room for growth over the next five years, if they survive the low phase during the pandemic and the key to survival is a robust digital strategy. India’s millions of hotel rooms will have to opt for a digital transformation. Even though the situation looks bleak, Goldman Sachs believes that ‘all hope is not lost’ for hotels in the online space. The report dated July 2020 says that the online travel industry in India is expected to double in the next five years. <div type="image" title="travel." msid="77670730" hostid="261"></div> And hotels will be the fastest-growing segment within the sector with a CAGR (compounded annual growth rate) of 20%. “We estimate hotels alone will contribute c.47% of the online travel revenue pool in India by FY25 (36% in FY20), making it the key battleground within the space,” said the report. Adapting technology and joining branded hotel chains will be key to survival India’s current online penetration is one of the lowest in the world at just 22%, according to the report. Out of the 2 million rooms accounted for hotel rooms in India, only over 140,000 are affiliated with hotel chains. Long-term growth will be driven by budget hotels falling under the unorganized category, who are deeper in the Indian market and can be brought online, believe analysts at Goldman Sachs. “These last few months have proved that branded hotels are and will continue to be the safest environment even in the worst pandemic. Along with safety, hotel brands that figure out how to offer meaningful experiences will lead the way,” said Ankur Gupta, Managing Partner &amp; Head of India Real Estate, Brookfield Asset Management in a report by JLL. All hope is not lost While hotel chains like <keyword id="74790" type="PERSON" weightage="20" keywordseo="Lemon-Tree">Lemon Tree</keyword>, Indian Hotels Company, which is a subsidiary of Tata Group, EIH which runs Oberoi and Trident, and hospitality unicorn <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword> are all set to benefit from it, the biggest beneficiary could be <keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword> which currently accounts for 50% of the online hotel aggregator market. For the first three months of the year, MakeMyTrip had reported a 15.9% fall in adjusted revenue to $137.2 million. The NASDAQ-listed company also posted an adjusted operating loss of $10.3 million. MakeMyTrip, which is set to announce its earnings results today, had said during the last earnings call that the current quarter might see its losses ballooning to over $20 billion, but over the next few quarters they will bring down the loss to the $10 million range before targeting breakeven. Recovery will be slow The Hotels Association of India recently requested the <a href="http://bwhotelier.businessworld.in/article/Indian-Hotel-Sector-will-collapse-if-not-supported-by-the-Govt-and-RBI-HAI/28-07-2020-302439/">government</a> to step in to help the sector citing losses to the tune of ₹90,000 crore this year. With hotels being shut for over three months and now opening gradually across the country, the listed hoteliers have all gone to report massive losses for the first quarter of the financial year. Patanjali Keswani, Chairman &amp; Managing Director, Lemon Tree let out a word of caution even said that while he is hopeful for a gradual recovery in the second half of the year, he is still shoring up cash for the next one year, "assuming the worst-case scenario." MakeMyTrip has liquidity of nearly $168 million as of 31st March which will help them survive for two years. But despite the weak beginning to the financial year, the Unlock India phases and the gradual opening of hotels, most recently in <a href="https://www.businessinsider.in/india/news/delhi-allows-re-opening-of-hotels-and-weekly-markets-gyms-to-remain-closed/articleshow/77634741.cms">Delhi</a>, has revived the hopes and the optimism reflects in share price of the listed hoteliers this month. . <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hotel Chain </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock action in Aug so far </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lemon Tree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+35% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chalet Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+17.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EIH </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+35.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Hotels Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.8% </td></tr></tbody></table> Revenge travel will help the battered industry recover <a href="https://www.businessinsider.in/business/news/revenge-travel-is-the-only-way-indian-hotels-can-make-money-but-it-will-take-over-two-years-to-even-match-pre-covid-levels/articleshow/77586911.cms">Revenge travel </a>will help the hotel industry recover. The term gained popularity in <a href="https://www.scmp.com/business/companies/article/3080361/chinas-airlines-are-poised-bout-revenge-travelling-bookings">China</a>, after people having been stuck in a lockdown, started travelling within the country, to be able to just to get out of their homes. A <a href="https://www.mckinsey.com/industries/travel-logistics-and-transport-infrastructure/our-insights/the-way-back-what-the-world-can-learn-from-chinas-travel-restart-after-covid-19">Mckinsey</a> report says that the end of lockdown would mean the first thing people would want to do is eat out, and the second thing is travel. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ola-is-staring-at-an-internal-crisis-with-seven-cxo-level-exits-in-eight-months/articleshow/77670080.cms">Ola is staring at an internal crisis with seven CXO level exits in eight months</a> <a href="https://www.businessinsider.in/tech/apps/news/google-eyes-indias-sharechat-as-microsoft-goes-after-tiktok-in-the-us-heres-why-it-makes-sense/articleshow/77667345.cms">Google eyes India’s ShareChat as Microsoft goes after TikTok in the US — here’s why it makes sense</a> <a href="https://www.businessinsider.in/tech/apps/news/tiktok-instagram-and-youtube-data-leak-exposes-data-of-235-million-users/articleshow/77668688.cms">TikTok, Instagram and YouTube data leak exposes data of 235 million users</a>

Here's why MakeMyTrip, OYO, Lemon Tree and likes may reap the most out of the long-term recovery in hotels

<ul class="summary-list"><li>The future of <keyword id="6354692" type="UNKNOWN" weightage="60" keywordseo="Travel">travel</keyword> is likely to be more luxurious and romantic post-<a href="https://www.businessinsider.com/coronavirus-cases-maps-us-world-spread-symptoms-death-rate-2020-1">coronavirus</a>, according to <keyword id="18966" type="ORGANIZATION" weightage="60" keywordseo="Hotel">hotel</keyword> and aviation experts.</li><li>Hyper-personalization and social distancing in <keyword id="6368036" type="UNKNOWN" weightage="60" keywordseo="hotels">hotels</keyword> will mean guests have more privacy, Mr &amp; Mrs Smith's Founder James Lohan said in a webinar.</li><li>The future looks particularly challenging for urban hotels, as people increasingly want to escape cities and stay in remote locations.</li><li>There's going to be a move towards travelling less often, but more lavishly, said PrivateFly CEO Adam Twidell.</li></ul>The future of travel post-coronavirus is going to be all about "hyper-personalisation," hotel and aviation experts say.As much of the world tentatively begins to emerge from lockdown, many people are thinking about travelling for leisure once again.And it turns out, vacations in a post-COVID-19 world could be even more luxurious than ever.Speaking at a webinar on "The Traveller in 2020 and Beyond" hosted by Black Tomato, boutique hotel specialist <a href="https://www.mrandmrssmith.com/">Mr &amp; Mrs Smith</a>'s Founder and Chief Creative Officer James Lohan and UK based <keyword id="142763" type="PERSON" weightage="60" keywordseo="private-jet">private jet</keyword> charter company <a href="https://www.privatefly.com/">PrivateFly</a> CEO Adam Twidell both said they expect travel to become more personal.<h2>Social distancing means more privacy in hotels</h2>As glove-clad porters reopen doors to guests, the hotel experience is likely to come with even more options to design your own stay."Customers will be asked how they want to be looked after," Lohan said."Do you want your bags carried or would you rather have no contact with the staff? Would you like to have your turn-down every night or not? Do you want your room made up every day or not?"Lohan also predicts serving hours for lunches and dinners will be longer so there can be fewer people in the restaurant at any one time, and guests may even be able to eat in other parts of a hotel."You'll maybe be able to have your dinner or lunch in some more interesting places around the hotel that they used not to do before."And if you do eat in a hotel restaurant, you're unlikely to be given a menu, according to Lohan: "It'll all be done remotely. You'll be given an iPad to do all your ordering, which some hotels were doing already for their room service."He predicts there'll be much less face to face contact with staff, which means more privacy — checking in at reception, for example, is likely to be a thing of the past, with guests checking themselves in using screens, an app, or online."Social distancing could be a good thing for romantic travel because we'll have to be even further apart from our guests than usual," Lohan said.In many ways, travel will become more luxurious.Instead of sitting at a crowded bar, it may become the norm to have a mixologist come directly to your room and whip up drinks just outside for an intimate cocktail evening.<h2>City hotels face a greater challenge to draw guests back</h2>Lohan believes urban hotels will face the biggest challenge in attracting guests back after lockdown because people are usually drawn to cities for the buzz and vibe that's created by people mixing together.Business travel, in particular, could be in "real trouble" because companies have realized they can get by communicating virtually and thus save lots of money that was previously spent on flights and hotel bills. "If you are a strictly city hotel that is hugely reliant on business travelers, you need to start rethinking and becoming more leisure-thoughtful," he said.Urban hotels will no longer be able to rely on their location to attract visitors and instead will need to think of more creative ways to tempt people to come."City hotels will have to work a lot harder," Lohan said. "We don't want to be with crowds." For this reason, tourist hotspots and big attractions in cities may become less popular as travelers looks for quieter areas off the beaten track."We tend to go to cities for atmosphere and buzz, and it's got to be done in a different way now," Lohan said."[Urban hotels are] going to have to tap into the arts and culture and leisure sides of things more going forward."The pandemic has also led to more people wanting to escape urban environments for the greater space offered in the countryside, he said, with UK travelers showing much more interest in quaint villages in the Cotswolds than big metropolises.Remote places, private homes, and secluded properties are all set to become more popular, from rural English cottages and Scottish castles to chalets in the Alps and villas in the Maldives.<h2>People will travel less often, but more lavishly</h2>"Experiences will become more and more private, you won't be in any groups at all," Lohan said.Needless to say, privacy and personalization come with a cost.As private guided tours replace group excursions, Twidell and Lohan said they expect people to take fewer trips going forward, but to spend more on the trips they do take."Our clients have accepted that they're going to go on fewer trips a year now," Twidell said, adding that PrivateFly has seen a lot of interest from first-time private jet customers.Whereas new clients usually make up around 25% of the company's bookings, that has recently risen to 65%. "They're telling us that they're not going to go on as many holidays as they used to, so the holidays they do go on, they want to enjoy more," Twidell said.As much as having space on the actual flight, people are attracted by the prospect of going to a private aviation terminal instead of queuing at check-in to fly with a normal <keyword id="34984" type="ORGANIZATION" weightage="60" keywordseo="airline">airline</keyword>, Twidell said.Instead of going on regular mini-breaks, it's likely travelers will want to make the most of the flight they've taken by enjoying longer holidays and exploring a place in more depth than they would have before."People might take in two or three different hotels in different parts of Italy or Portugal or wherever you might be going," Lohan said.Read more:<a href="https://www.insider.com/business-first-class-more-valuable-post-coronavirus-flight-experts-2020-5">Business and first class travel may be a waste of money right now, but premium tickets are about to become more valuable than ever</a><a href="https://www.insider.com/pilots-urge-people-buy-plane-tickets-like-bought-toilet-paper-2020-6">Pilots are calling for people to 'buy plane tickets like you bought toilet paper' and book flights for after the coronavirus lockdown</a><a href="https://www.insider.com/italian-village-offering-tourists-free-accommodation-summer-san-giovanni-2020-6">An undiscovered traditional Italian village is offering tourists free accommodation this summer</a>

Travel will become more luxurious after the coronavirus pandemic, hotel and aviation experts predict

New Delhi, May 18 () Shares of multiplex and hotel operators on Monday cracked up to 14.5 per cent after the countrywide lockdown was further extended till May 31. Shares of INOX Leisure tumbled 14.49 per cent and those of PVR tanked 12.54 per cent on the BSE. Besides, Chalet Hotels plummeted 13.38 per cent, Indian Hotels Company Limited plunged 8.04 per cent, EIH Associated Hotels 5.83 per cent, Wonderla Holidays 4.91 per cent and Lemon Tree Hotels 4.78 per cent. The lockdown was first announced by Prime Minister Narendra Modi on March 24 for 21 days in a bid to combat the COVID-19 pandemic. It was first extended till May 3 and again till May 17. It has now been extended till May 31. Hotels, cinema halls and malls will remain shut till this month-end. SUM SHWSHW

Multiplex, hotel stocks tumble as nationwide lockdown extended till May 31

<ul><li><keyword id="9771276" type="UNKNOWN" weightage="20" keywordseo="revenge-travel">Revenge Travel</keyword> – the term gained popularity in China, after people having been stuck in a lockdown started travelling domestically just to get out of their homes.</li><li>Experts believe a similar recovery is on the cards for Indian hospitality sector. And that is good for the smaller hotels more than the luxurious ones.</li><li>But that won’t be enough as occupancy levels won’t return to pre-COVID levels until 2022.</li></ul>From fancy hotels like Taj and Oberoi to budget chains like OYO and Lemon Tree, everyone in Indian hospitality has been waiting for 'Revenge Travel'. The term gained popularity in <a href="https://www.scmp.com/business/companies/article/3080361/chinas-airlines-are-poised-bout-revenge-travelling-bookings">China</a>, after people having been stuck in a lockdown, started travelling within the country, just to get out of their homes. This travel recovery in China, is what experts believe will also be seen in India. And it is more likely to benefit smaller hotels more than the luxurious ones. And it seems that such hopes have sparked buying in Indian hotels shares in the last week. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hotel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change since August 7 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lemon Tree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+21% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EIH </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+13.8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chalet </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+7.8% </td></tr></tbody></table> Revenge Travel is a temporary phenomenon The Indian <keyword id="68179" type="PERSON" weightage="20" keywordseo="Hospitality-industry">hospitality industry</keyword> has been one of the worst hit during the <keyword id="8829783" type="UNKNOWN" weightage="20" keywordseo="coronavirus-pandemic">coronavirus pandemic</keyword>. With travel having come to a full stop due to the spread of the virus, the travel and tourism industry is looking at a slow recovery – until a vaccine is out and readily available for all. So far, India’s experts have been relying on what DLF CEO Rajeev Talwar called ‘aas paas’ tourism, during a live chat with Business Insider. He was referring to what the likes of <a href="https://www.businessinsider.in/business/news/oyo-mahindra-holidays-emirates-and-boeing-agree-people-wont-fly-for-a-while/articleshow/75731204.cms">OYO, Mahindra</a> are betting on – rising hotel bookings on drive-to destinations instead of vacation spots that need you to take a flight. <div type="Youtube" id="lWgGN76PLJM" title="Episode 5 | All You Need To Win In The Post Covid World: The Corner Office View" thumbUrl="https://i.ytimg.com/vi/lWgGN76PLJM/mqdefault.jpg"></div> Revenge travel takes off A <a href="https://www.mckinsey.com/industries/travel-logistics-and-transport-infrastructure/our-insights/the-way-back-what-the-world-can-learn-from-chinas-travel-restart-after-covid-19">Mckinsey</a> report puts it simply as the end of lockdown would mean the first thing people would want to do is eat out, and the second thing is travel. According to a report by the US-based HVS Global Hospitality Services and Indian real estate research firm ANAROCK, said that while corporate travel and travel for Meetings, incentives, conferences and exhibitions will reduce, domestic travel could take off soon. “Domestic tourists will be major demand drivers. ‘Revenge’ travel witnessed in China could foster among Indians too,” said the report. And the upcoming festive season could be the perfect time for ‘revenge travel’. According to a report by RateGain, India is currently the worst in hotel recovery in a survey of 15 countries and over 2.5 lakh hotels. But the future looks promising as the report said that India ranks third in the list of future bookings during November-December, falling behind only Thailand and UAE. But it won’t be enough Even with domestic tourism seeing green shoots, it won’t be enough for the Indian hotel industry. While hoteliers are ready for a slow recovery, the report by HVS and ANAROCK says it may take years for the hospitality industry to get back to pre-COVID levels. While occupancy levels will return to normal by 2022, the ADR (average daily rate) will return to normal only by 2023. “Occupancy and ADR will recover much quicker in this cycle due to limited supply growth subject to vaccine being in place not later than 2021,” said the report. India’s listed hotels – Lemon Tree, EIH (which operates Oberoi and Trident chain of hotels), Chalet, have all reported dismal numbers for the first quarter of FY21, with the hotels having reopened in June. Patanjali Keswani, Chairman &amp; Managing Director, Lemon Tree let out a word of caution even said that while he is hopeful for a gradual recovery in the second half of the year, he is still shoring up cash for the next one year, "assuming the worst-case scenario." And the news is worse for luxury hotels, which have over 50% of revenue coming from international business or foreign tourists visiting India , as experts at ANAROCK and HVS say that these hotels fall in the ‘more vulnerable’ section while branded budget and mid-market hotels will lead the path to recovery. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/these-are-the-two-indian-companies-to-feature-in-cb-insights-150-most-promising-digital-health-startups/articleshow/77583700.cms">These are the two Indian companies to feature in CB Insights 150 most promising digital health startups</a>

‘Revenge travel’ is the only way Indian hotels can make money – but it will take over two years to even match pre-COVID levels

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<ul><li>Nirmal Sitharaman has expanded the emergency credit scheme by ₹50,000 crore.</li><li>The finance minister mentioned that the additional loans will go to the sector.</li><li>The wave of Omicron infections stopped people from travelling again, stalling a nascent recovery in the sector.</li></ul>India’s hotels, travel operators and players in the <keyword id="90487" type="General" weightage="20" keywordseo="hospitality-sector" source="Orion">hospitality sector</keyword> get a special mention in Finance Minister Nirmala Sithraram’s budget speech as part of the emergency credit scheme, which has been expanded by ₹50,000 crore to total cover of ₹5 lakh crore. She mentioned that the additional loans will go to the sector. “Considering these aspects, the ECLGS [Emergency Credit Line Guarantee Scheme] will be extended up to March 2023 and its guarantee cover will be expanded by ₹50,000 crore to total cover of ₹5 lakh crore, with the additional amount being earmarked exclusively for the hospitality and related enterprises,” Sitharaman said. ECLGS was a part of ₹20 lakh crore comprehensive package announced by the finance minister on May 13, 2020. The aim of this package is to aid micro, small and medium enterprises (MSMEs) to overcome the distress of the pandemic. Hospitality is one of the segments that still haven’t recovered from the pandemic. The wave of Omicron infections stopped people from travelling again, stalling a nascent recovery in the sector. The shares of Indian Hotels — one of the prominent companies in the Indian hospitality segment — <a href="https://stocktwits.com/vmehta/message/432212804">witnessed a spike </a>in their share prices post this announcement. <div type="image" title="ST hospitality" msid="89278316" hostid="261"></div> “The prolonged effect of COVID-19 pandemic on the overall hospitality sector has created a burden on small to medium scale players to service their debt obligations… We feel, in the 2022-23 budget, the GoI [government of India] shall create provisions to create liquidity for the travel &amp; tourism industry, provide directions to the central bank to roll out low interest working capital loan schemes and expedite the paperwork process,” Pranav Dangi, founder of hospitality startup Hosteller, had previously said. This is how other major hospitality stocks performed on the day of the budget. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hospitality Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change in share price on February 1* </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oriental Hotels (Taj) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+3.49% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Taj Gvk Hotels &amp; Resorts </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.65% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chalet Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.65% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The Leela Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+1.12% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lemon Tree Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+0.39% </td></tr></tbody><tbody></tbody></table>*Share price as of 1:55 p.m. Source: BSE “The ECLGS extension up to March 2023 and the increased cover of Rs. 50,000 crores to a total cover of ₹5,00,000 crore is a welcome move to empower our hospitality industry which has been struggling to cope with the COVID induced challenges,” Ajit Shah, Partner at White Panda Hospitality (parent entity of restaurants Tera Vita, Kiko-Bā and Dadel), said. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/economic-survey-2022-highlights-that-delhi-not-bengaluru-is-the-startup-capital-of-india/articleshow/89249128.cms">Delhi, not Bengaluru, is the startup capital of India, says Economic Survey</a> <a href="https://www.businessinsider.in/budget/news/indias-defence-budget-allocation-as-per-experts/slidelist/89250030.cms" data-type="tilCustomLink">Allocation for India's defence may see a nominal increase</a> <a href="https://www.businessinsider.in/budget/news/the-government-is-expected-to-announce-1-3-lakh-crore-for-railways-under-the-national-infrastructure-pipeline/articleshow/89256692.cms" data-type="tilCustomLink">The government is expected to announce ₹1.3 lakh crore for railways under the national infrastructure pipeline</a>

Budget makes a special allocation for loans to small travel operators and other players in hospitality

<ul class="summary-list"><li>Darren Lewis is an executive staff recruiter based in London, England.</li><li>He recruits nannies, personal chefs, and chiefs of staff to run the homes of wealthy clients, including celebs and athletes, around the world.</li><li>This is what his job is like, as told to freelance writer Chrissie McClatchie.</li></ul>We've all spent a lot of time at home during the pandemic, even the richest people in the world. As a result, there's never been more demand for highly qualified household staff. As the cofounder and director of Pembury Partners Household Consultancy (Pembury), I'm the person some of the world's wealthiest have on speed dial when they're looking to hire executive staff for their private residence - or residences.I wasn't looking to start my own business. For the last few years, I've been at a senior level within the private household recruiting sector. When the pandemic first hit, my team and I were put on furlough, and that became the catalyst I needed. I gave Evie Dakin, a colleague and good friend of mine, a call and told her we should go it alone. It was hard to take that first step, but we haven't looked back since.Pembury officially became operational in June 2020. Our offices are in London's Mayfair neighborhood, although I've been working at home for the better part of the year. For the first six months it was just Evie and I doing everything from business development to accounts and marketing. At the end of last year we made our first hires, a project manager and expert in childcare recruitment. <h2>Currently, we're working with about 100 UHWNI clients, many of whom are celebrities and athletes.</h2>Dealing with the 1% everyday is super intense, especially because all of my clients want to have hired someone yesterday. But that's nothing different to recruiting for the luxury hotel space, where I've also worked before. The UHNWIs (ultra-high-net-worth individuals) of the world want their home to be run like a six-star hotel, too.At any one time, we could be looking to fill any range of roles in a number of locations. For example, we're currently recruiting for a property and assets manager in Azerbaijan, a chief of staff in London, and a palace manager in Qatar. For many people, the past 12 months have been tough for business but for us it's been nothing short of a boon. We've really pushed through COVID and are growing all the time. <h2>We staff for all types of specialty positions, such as performance chefs for professional footballers. </h2>By performance chefs, I mean people that cook the right meals for sportsmen and women, chefs that have formal education in nutritional science and who know what are the key ingredients for optimal athletic performance. It's definitely a growing trend that we're also seeing cross over into the <keyword id="1654120" type="ORGANIZATION" weightage="60" keywordseo="UHNWI">UHNWI</keyword> space - healthy living is the phrase on everyone's lips right now.It's quite a niche market, but once one professional athlete hires a chef, they all want a chef. It's something we've never done before but it's been hugely successful so far.We don't employ staff on behalf of our clients, we're just an introducer and charge our clients a percentage of the candidate's first year salary as a fee. Right now, that's 25%.In terms of salary range, nannies can expect to earn between $55,000 to $140,000 depending on experience, chefs between $70,000 and $350,000, and chief of staffs from $100,000 to $425,000.Although some candidates register with us in response to vacancies listed on our website or on social media platforms like Linkedin, we mostly head hunt. While travel restrictions and local quarantines have been obstacles to navigate, Evie and I have the right knowledge and know the right tools to be able to track down the right pool of candidates anywhere in the world.<h2>Most people we hire must have prior experience in private households, or on superyachts or in luxury chalets.</h2>A stable CV is essential, as is five years of excellent references and a clean criminal record. The vetting process is extensive and to the highest standards. Once we put a candidate forward, they then connect with the principal client or their representative for a face-to-face or video interview.After filling a vacancy, we don't follow up with performance reviews, but I did place a chef in a training camp for a World Champion Boxer who retained his title with one of his best performances, so I like to think that had something to do with it. Feedback is always welcome, although unusual. This week I had a chef on trial with a British billionaire and the female principal client texted me after the meal to say she loved them. That was nice. Because we reference check every candidate we put forward, and they trial with the client, it's rare that anyone is ever unhappy once a placement has been made.<h2>We may get a call at 5 p.m. on a Friday afternoon asking for someone by Monday morning. </h2>Evie and I don't work fixed hours, as is usual in the UHNWI space. If I'm working for clients on the west coast of the US, I'll adjust my hours to be on their time for as long as required.There is one rule I abide by as much as possible, however, and that is to not work on a Saturday. I'm Jewish and practicing so I keep from sundown Friday to sundown Saturday as my protected family time. For the other six days, there's no holds barred, and I'll pick up my phone 24/7.It may sound draining but my job does allow me to work from anywhere in the world and be with my family. In August we will visit Israel for the month. I'll work early before my children wake up, and then we can spend the morning together, probably at the beach. I'll work for a couple of hours when it's really hot in the afternoon and then we can go out at night. At home back in London, I usually break up the day with time on my Peloton.<h2>I deal with household names daily, so the expectations are high (and some egos are extremely big).</h2>It's fascinating working with UHNWI and celebrity names, but in the end it becomes normal and it's not really something I talk too much about with my social circle. Of course, NDA's prohibit me from sharing too much detail, but, in any case, many of my friends wouldn't understand the world I live in and the inner lifestyle of UHNWIs.<div type="image" title="Darren Lewis" height="934" width="1242" msid="82771120" hostid="261"></div>My wife and I recently celebrated our 10-year wedding anniversary during Britain's COVID-19 lockdown. Since we couldn't go out to mark the occasion, I asked one of the best private chefs around to come and cook our anniversary meal. Vegan cuisine is his speciality, and he's previously worked for Claudia Schiffer and Stella McCartney. Later this month it's my birthday and weather permitting, I'm hosting six friends in my garden and will have a private chef come and cater our meal. I guess you could say those are definitely the "perks" of the job.

I recruit nannies, personal chefs, and even palace managers for the ultra-wealthy. Here's what it's like to deal with the 1% every single day.

<div class="KonaFilter image-container display-table"><div><div class="image on-image">TheMavenJim Heckman</div></div></div><ul><li>Digital publishing startup Maven just flew more than 250 independent publishers to Whistler, Canada - at a cost of roughly $350,000.</li><li>Led by serial entrepreneur Jim Heckman, Maven is trying to build a coalition of small digital publishers to join a common tech platform and reclaim some of the audience and ad budgets swallowed up by Facebook.</li><li>The three-day recruiting session featured a host of panels, as well as skiing, spa days and lunch on a gondola riding up Whistler mountain.</li><li>The company sees an opportunity amidst the recent fallout from Facebook's algorithm changes as well as the ongoing mishaps that have made some marketers skittish about digital <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword>.</li></ul>During one of the final ski weekends of the season, 250 people gathered atop Canada's Whistler Mountain.They squeezed together while a photographer climbed up on nearby lodge's deck. He waved a black flag with a white diamond key - the symbol of a digital <keyword id="6354777" type="COMPANY" weightage="60" keywordseo="Media">media</keyword> startup called Maven - while the crowd below cheered.Maven was literally planting its flag in a battle for the future of the Internet.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Mike ShieldsMaven atop Whistler</div></div></div>Maven is the latest venture from <a href="https://www.crunchbase.com/person/jim-heckman">Jim Heckman,</a> a serial entrepreneur who's helped start and sell a number of companies, including sports blog networks Rivals.com and Scout Media, and also held top roles at Fox and Yahoo.Heckman and ad veteran Josh Jacobs are touting Maven as a digital coalition that will bring together hundreds - if not thousands - of independent publishers. The idea is that these media companies will all use the same publishing technology, ad tech and sales operations to create one powerful network. A big part of their pitch: publishers will no longer have to rely on Facebook. And <a href="http://www.businessinsider.com/yahoos-former-top-media-executive-thinks-hes-got-an-alternative-for-brands-wary-of-getting-burned-on-the-web-2018-1">advertisers will be able to run</a> their messages on a network of clean websites, without worrying about what kind of content they'll be associated with.Everybody will own a piece of the company, Heckman says.It's a compelling pitch. The thing is, most advertisers have no idea what Maven is.So on April 11, Heckman flew the publishers to Whistler to hear Maven's vision.Maven has been in the works for a few years. But following Facebook's recent decision to tweak it's algorithm to de-prioritize publishers, which hit many in the media industry hard, Heckman sensed an opportunity. He quickly threw together a $350,000 conference in about 90 days - including a mysterious invitation that teased, "You've earned your key."<h2>A key to what?</h2><div class="KonaFilter image-container display-table"><div><div class="image on-image">MavenMaven's mysterious invitation to publishers for its $500,000 conference to take down Facebook.</div></div></div>Guests were transported on fancy shuttles from the Vancouver airport and given rooms at the Whistler Fairmont and Four Seasons hotels.Besides multiple panel sessions focused on the media industry, Thursday's itinerary included a 25-minute gondola ride to the top of the mountain, showcasing remnants of the 2010 Olympics. Guests nibbled on boxed lunches of turkey wraps and quinoa salads while they soaked in the views.Thursday night, attendees gathered for intimate dinners, including one at Heckman's chalet, followed by a late night after party that promised a dance floor and the chance to act like a Whistler local.On Friday, after the official conference wrapped, guests had the choice to ski, snowboard, enjoy a snowmobile ride, spa day or ziplining - all on Maven's dime.<h2>You've been screwed by Facebook. Come join the coalition</h2>Many of the attendees Business Insider spoke with, who ranged from so-called mommy bloggers to right or left wing activists to marijuana enthusiasts, came to the Maven event with little clue of what the weekend would entail, or even what Heckman's company is."I really have no idea," one person said. "But I've never been to Whistler."Another joked, "I think they might be selling us a timeshare." Others wondered if it was a cult gathering.But on Wednesday night, during a cocktail hour in the Fairmont's ballroom, the Maven message finally started to take shape. "A lot of people are confused about the vision," Heckman told the group. "Somebody came up to me and said, 'What's a Maven?' A lot of people are asking me that." Heckman flattered the audience and told them his team had been scouting them each for years, noticing their journalistic talents and fan followings."One thing we are never going to do is build a Silicon Valley open platform," he said. "That's such a dangerous, corruptible..."Before he could finish, he was interrupted by cheers.<div class="KonaFilter image-container display-table"><div><div class="image on-image">ShieldsJim Heckman laying out the Maven vision</div></div></div>When he continued, he pitched Maven as a cause as well as a business. With his wife and two sons by his side, he spoke about the wreckage Facebook and Google had brought upon independent publishing, destroying the purity of journalism.Heckman likened the launch of Maven to the launch of Hulu - a project he had personally been involved in - a decade ago by TV companies to counter YouTube. His speech targeted independent publisher feelings of betrayal over Facebook and "the crushing blow that social media has done to you" as well as "crazy consolidation" in the digital ad industry.The key, Heckman told his audience, was to work together. He insisted independent publishers could not survive on their own and even paraphrased Sun Tzu's "The Art of War." "To win means we have to share," Heckman declared. "Use our collective genius to survive ... gather all the villagers together and gain strength as one community."When he was done, some attendees were puzzled. Others were energized."I liked a lot of stuff he was saying there," said one publishing executive."I swooned at one point," said another.<div class="KonaFilter image-container display-table"><div><div class="image on-image">ShieldsThe Maven conference</div></div></div><h2>The Facebook aggrieved</h2>For many attendees, the Maven conference served as a self-help group for those who had been spurned by Facebook. They found comfort in sharing their algorithm frustrations.Take, for example, <a href="https://www.themaven.net/kidsactivities/">Holly Homer</a>.Homer, who joined Maven in October, is the founder of Kids Activities Blog. She told Business Insider that her six-person business has pulled in $1 million a year for several years.The site has been so successful that her husband quit his job to help.But Homer said a recent Facebook change, which limited publishers from posting content with paid product placements, were a big blow."That one policy cut my income by 60%," Homer said. "I'm still trying not to cry about it."Maven, she said, has helped a lot. Kids Activities Blog now outsources its web operations along with its server capacity needs. When the site briefly went down, for example, the Maven team fixed it immediately. "They are as invested in it as I am," Homer said.<h2>'They pulled a bait and switch'</h2><a href="https://www.facebook.com/bluematters/">BlueLivesMatter</a> was started on Facebook exclusively. Today, it's a full-on publication.<a href="https://www.linkedin.com/in/christopher-berg-918639148/">Chris Berg, </a>a former police officer founded the page a few years ago. He said that the promise of the Maven's tech expertise would save him $50,000 in server costs. "I was dealing with site issues all the time," he said.More importantly, he's hoping that the collection of Maven partners will eventually start feeding each other new audiences. Since Facebook's recent algorithm change, he's felt a 35% hit in revenue and traffic. "I'm hoping for increased distribution."Robbie Lockie, who runs Plant Based News, told a similar story about losing nearly 40% of his traffic from Facebook with "no warnings." He flew in from London to see if Maven made sense for his business. "I just spoke to James. he gave me the elevator pitch," he said.<a href="http://todaysmama.com/author/rachael/">Rachael Herrscher, the founder of Today's Mama,</a> said that Facebook has been gradually pulling back support for publishers for years, even after encouraging them to build up fan bases. "They pulled a bait and switch," she said. "We were reaching 32 million people a week at one point. Now a post will reach 1 to 2 million people. "We're kind of done caring about Facebook," she said.<a href="https://boycewatkins.com/">Dr. Boyce Watkins,</a> who founded <a href="https://www.facebook.com/theblackbusinessschool/">Black Business School</a> has 45 Facebook pages. One was abruptly shut down by Facebook, and He says Facebook hasn't gotten back to him as to why, but he estimates the decision cost him between $2 and $3 million."We were naive [about Facebook] until 2014," he said. "Then they started doing things that were just unethical. That's when the idealism went out the window.Watkins, a former professor at Syracuse University, actually joined Maven a few months , but had to back out after his audience rebelled, worried that he was selling out.He's hoping to return at some point. "The idea is beautiful," he said. "Will it work? I believe it in because I like James Heckman. Will they be a replacement for Facebook. I haven't seen that yet."<h2>'The idea is, take the internet back'</h2><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">ShieldsThe Maven logo</div></div></div>Leah Segedie, the founder of the clean living and eating publication <a href="https://www.mamavation.com/">Mamavation</a> has been publishing on the web for over a decade. She's being courted by Maven, and one of her good friends is on the startup's board."She said, 'you gotta check these guys out," Segedie told Business Insider. "This is kind of competing with Google and Facebook. The idea is, take the internet back.' And I said, 'I'd like to hear about that. And they're gonna send me out to Whistler, and I'm like "I've never been. Let's do it!"Segedie said she hadn't gotten alot of specifics yet on how Maven will work. She's got questions about how her existing ad sales will be impacted, and how her website's look may have to change. "I really like the idea of an organization that is about getting content out there," she said.<h2>Isn't this just an ad network?</h2>It's worth noting that companies have been aggregating and selling ads on long lists of websites for decades. There have been more than a few so-called premium ad networks making similar promises.Several conference attendees asked why Maven isn't just another ad network.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">ShieldsThe view from the Gondola at Whistler</div></div></div><a href="https://www.crunchbase.com/person/william-sornsin">Bill Sornsin, </a>Maven's COO, said that the idea of having a coalition using the same publishing and advertising technology shouldn't be overlooked. For example, instead of working with one ad tech company, another video player company, and another developer, the Maven promise a single seamless platform."The integration is the magic," he said. "Having that smooth integration where everything just works. We are thinking of us almost like Intel Inside."What will advertisers think, especially digital brands accustomed to buying ads all over the web via programmatic software. There's been lots of industry talk of late about big marketers actually looking to pare down the number of sites they work with - moving away from the so-called 'long tail' <a href="https://adexchanger.com/online-advertising/who-wins-and-loses-as-brands-flee-the-long-tail/?ct=t%28EMAIL_CAMPAIGN_3_9_2018%29">reported AdExcanger.</a>Sean Muzzy, Chief Product &amp; Platform Officer at the ad agency Neo World Wide, wasn't at the Maven show. But he said he was intrigued by the concept, as it might fit the needs of the current ad market - <a href="http://www.businessinsider.com/jpmorgan-frustrated-youtube-brand-safety-ads-2017-12">where brands are suddenly wary of having their ads end up next to objectionable content on the web following a string of embarrassing incidents.</a>"It's definitely a big ambition," he said. "As a media buyer we want good quality content that attracts and maintains audience. We want those things. If you think about the past couple of years, there's been so much shadiness in the inventory. There's always trying to over come some game that's happening in the system.""The question is, is my audience there?"A group of publishers who the Maven is recruiting had the same question. Even if the Maven's tech and advertising clout works, can anybody replace the audience Facebook once delivered?"That's the kicker for me," said one publisher as he rode down the mountain on a gondola. "They haven't answered my traffic question."The Maven is promising lots more answers. The question is, can they deliver? It's a big mountain to climb. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/3d-printed-homes-constructed-icon-new-story-tech-charity-4000-dollars-2018-3">These 3D printed homes can be constructed for $4,000 - and they might change the approach to underdeveloped housing</a></h3> <div> </div> </div>

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