Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>Resumption of international travels, conferences, G20 meets, and weddings are driving demand for hotels, say analysts.</li><li>The demand for leisure travel has also sustained, analysts say.</li><li>Mumbai, Delhi and Bangalore are likely to lead revenue per available room (RevPAR) growth, said a report by Nuvama Institutional Equities.</li></ul>The <keyword id="46343" type="General" weightage="20" keywordseo="hotel-industry" source="Orion">hotel industry</keyword>, which has been recovering from its pandemic lows for the last few months, is expected to post record earnings in the January-to-March quarter, expect analysts. “Q4FY23 will be a record quarter owing to a sustained travel surge, bunched-up weddings and normalisation of international travel,” said analysts at Nuvama Institutional Equities. Analysts say that the hotel industry has been in a recovery zone ever since the opening up of the economy with resumption of international travels owing to social events and corporate events. “Leisure was the first segment to pick up during recovery; this hasn’t stalled or waned even after the economy opened up. International travel resumed as there were social events, corporate events and MICE. There is no slowdown in demand currently,” said the report. More boost from G20 events In spite of a good showing ever since the lockdowns ended, there is scope for more growth hereon, expect analysts. “We believe, on the high base that the sector is at, incremental demand and supply shall be in sync, normalising rate movements. Key upside could come from sustained demand for leisure travel, normalising international travel and events such as the <keyword id="42982" type="General" weightage="20" keywordseo="g20-summit" source="Orion">G20 summit</keyword>,” said the Nuvama report. Based on the G20 calendar, there are several events scheduled in March and April 2023 to be held in cities like Amritsar, Gandhinagar, Mumbai, Chennai, Udaipur, Visakhapatnam, Darjeeling, Guwahati, Hyderabad, Kumarakom, Goa, Varanasi, and Bhubaneswar. The G20 holds annual summits where leaders from member countries gather to discuss global economic issues. India holds the G20 presidency this year. From a high base In fact, the strong performance of hotel companies in the December quarter reflects a strong uptick in demand. Tata group hospitality firm Indian Hotels Company’s net profit in Q3 jumped four times to all-time high at ₹383 crore on the back of robust demand. “Buoyed by a strong demand in the third quarter, both leisure and business hotels in key domestic markets reported occupancy of over 70% and a rate growth of 27% as compared to pre-Covid levels,” said Indian Hotels Company in an exchange filing. Adding to it, even Lemon Tree in Q3 reported a significant jump in net profit, which rose to ₹48.6 crore as against a loss of ₹5.2 crore in the same period last year. Mumbai, Delhi and Bangalore to lead regional growth for the industry Analysts say that the demand outlook for the sector in 2023 will remain robust on the back of events such as world cup hockey and cricket, apart from the ongoing G20. It will also bode well for more price increases this year. “For CY23, companies are budgeting average room rate (ARR) growth of 5–10% with a 2–5% increase in occupancies,” said a report by Nuvama Institutional Equities. R<a href="https://www.businesstoday.in/latest/corporate/story/hotel-prices-in-india-rise-15-20-so-far-in-2023-heres-why-370227-2023-02-14">eports </a>say that hotel prices across destinations have risen in the last few months due to wedding season, return of <keyword id="575625" type="General" weightage="20" keywordseo="corporate-travel" source="Orion">corporate travel</keyword> and events. It states that most cities have bounced back growth from pre-Covid levels. The report said that Mumbai, Delhi and Bangalore are likely to lead revenue per available room (RevPAR) growth. Added to that, the report also says that tier-2 and tier-3 cities have seen a fair amount of growth too. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/rbis-mpc-could-pause-rate-hikes-in-april-to-gauge-the-impact-of-hikes-so-far-sbi-research/articleshow/99030220.cms">RBI’s MPC could pause rate hikes in April to gauge the impact of hikes so far: SBI Research</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indian-housing-market-stays-strong-despite-global-headwinds-anarock-research/articleshow/99030280.cms">Indian housing market stays strong despite global headwinds: Anarock Research</a>

Hotel industry bounces back after three years into the pandemic

<ul><li><keyword id="18615717" type="General" weightage="20" keywordseo="hotel-room-rents" source="Orion">Hotel room rents</keyword> have fallen slightly across major markets in the month of October.</li><li>Analysts had been expecting a premium from the ongoing <keyword id="6362155" type="General" weightage="20" keywordseo="icc-world-cup" source="Orion">ICC World Cup</keyword>.</li><li>In Q2, the revenue per available room has come down for top hotels on a QoQ basis.</li><li>Hotels however are confident that the upcoming wedding season will help them close the fiscal year with double digit growth. </li></ul>The hotel industry has been gaining from India’s wanderlust. However, hotel room rents which have been skyrocketing for the last few months on account of large events like G20 and more — might have hit their peak. While the domestic demand has been holding up, the push that most people expected to see from the ongoing Cricket <keyword id="22177" type="General" weightage="20" keywordseo="world-cup" source="Orion">World Cup</keyword> 2023, has not come in. The event started on October 5 and will end on November 19. Sanjay Sethi, MD and CEO of Chalet Hotels said that unless a World Cup is staying with a property no block booking can be expected on account of the event. “There is no specific team or anything staying with our hotels. So, whatever we get is potential visitors who are coming for the World Cup events and matches. I don't expect that to be a very large number for any hotel in the city. To begin with, it's a one day or one-and-a-half-day sort of a stay. Number two, most of the visitors for the matches are locals of the city,” he said in a Q2 earnings conference call. The revenue per available room or RevPAR, which has been growing significantly in the last one year, did not see any uptick on account of the event where 48 matches will be played across 10 locations. “Unlike expected earlier, the ICC World Cup has turned out to be a non-event as it failed to have a meaningful impact on the RevPAR for the hotels where the matches are being played. Nonetheless, domestic leisure demand has been encouraging along with improving corporate travel, which led to impressive Q2FY24 earnings in a seasonally weak quarter,” said IDBI Capital. Have hotel room rents peaked? In the month of October, the average room rates (ARR) have come down as compared to the month before, as per a report by IDBI Capital. It analyzed pricing of 171 hotels with around 33,000 keys across key eight cities over the last 24 months. “Our analysis suggests that barring Jaipur and Hyderabad, major markets witnessed decline in average pricing in the month of October, 23 on MoM basis,” said IDBI Capital. On a quarter-on-quarter basis too, September quarter’s revenue per room or RevPAR of major players has come down, though their year on year growth is very strong, along with occupancies. However, it’s also to be mentioned that the second quarter is seasonally weak for travel and hospitality due to monsoons and festivals. Q2 REVpar growth in major hotels <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Q2FY24 </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;">Q1FY24 </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;">Q3FY23 </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;">QoQ </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;">YoY </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;">₹7,034 </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;">₹7,182 </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;">₹5,650 </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;">-2% </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;">25% </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 </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;">₹5,016 </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;">₹6,126 </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;">₹5,795 </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;">-5.4% </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;">15.5% </td></tr></tbody></table> Source: Press releases, research reports Weddings not World Cup Hotels have their best season yet to come — the great Indian wedding season that’s expected to start by the end of this month. There is another season that’s to come in late January and early February. This thrust, coupled with Indians’ undying love to travel, government’s efforts to boost local tourism is all set to keep the fires burning. “The hospitality industry dynamics remain buoyant in the medium term (5 years), with demand growth in FY23-28 growing at a CAGR of 8-10% outpacing the supply growth of 5-6%,” said a report by BP Equities. Most companies and their analysts are confident that they will close the financial year with a double digit revenue growth. They also hope in-bound tourism will also improve in the second half of the current financial year. SEE ALSO <a href="https://www.businessinsider.in/business/news/foreign-brands-bet-big-on-bharats-bulging-wallets/articleshow/105071211.cms">Foreign brands bet big on Bharat’s bulging wallets</a> <a href="https://www.businessinsider.in/business/news/bitten-by-inflation-indians-buying-fewer-clothes-this-season/articleshow/105179140.cms">Bitten by inflation, Indians buying fewer clothes this season</a>

Cricket World Cup boost missing for hotels – an industry veteran explains why

Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> urged CEOs of US majors to take advantage of India's growth story as the country is making all efforts to become the third largest economy of the world in his third term. India is currently the fifth largest economy of the world after the US, China, Germany and Japan with a GDP of around USD 3.9 trillion. India has been the fastest growing large economies of the world with GDP growth rate of over 7 per cent for the last three consecutive years. Addressing CEOs of the large US tech firms on Sunday, Modi said India will make every effort to become the third largest economy in the world in his third term (2024-29). Companies should take advantage of India's growth story for collaboration and innovation by co-developing, co-designing, and co-producing in India for the world, harnessing the opportunities from the country's economic and technological growth, he said. Assuring the business leaders of India's deep commitment to the protection of intellectual property and to fostering tech innovation, Modi highlighted the economic transformation happening in the country, particularly in electronics and information technology manufacturing and semiconductors. Modi asserted that his government was committed to making India a "global hub of <keyword id="20073013" type="General" weightage="20" keywordseo="semiconductor-manufacturing" source="keywords">semiconductor manufacturing</keyword>". The meeting took place at the Lotte <keyword id="19904497" type="General" weightage="20" keywordseo="New-York" source="keywords">New York</keyword> Palace Hotel on Sunday during the second leg of Modi's three-day US visit. It saw the participation of CEOs of 15 major US-based firms working on cutting-edge technologies such as AI, quantum computing and semiconductors. "Had a fruitful roundtable with tech CEOs in New York, discussing aspects relating to technology, innovation and more. Also highlighted the strides made by India in this field. I am glad to see immense optimism towards India," Modi said in a post on X. During the conference, Modi said technology collaboration and efforts such as the Initiative on Critical and Emerging Technologies (ICET) lie at the core of the India-US Comprehensive Global Strategic Partnership, according to a Ministry of External Affairs press release. Organised by the Massachusetts Institute of Technology (MIT) School of Engineering, the CEOs of top US tech firms, including Google CEO Sundar Pichai, Adobe CEO Shantanu Narayena, Accenture CEO Julie Sweet and NVIDIA CEO Jensen Huang attended the meeting. Others who participated in the roundtable included AMD CEO Lisa Su, HP Inc. CEO Enrique Lores, IBM CEO Arvind Krishna, Dr Noubar Afeyan, Chairman of Moderna, and Verizon CEO Hans Vestberg. Modi also talked about India's BIO E3 (biotechnology for environment, economy and employment) policy to develop the country into a biotech powerhouse and on the topic of AI, noted that India's policy is to promote AI for all, underpinned by its ethical and responsible use. The CEOs appreciated India's growing prominence as a global technology hub, driven by its innovation-friendly policies and flourishing market opportunities. They also expressed strong interest in investing and collaborating with India, agreeing that investing in startups would be a synergistic opportunity to innovate and develop newer technologies in the country. Others who attended the conference included Biogen Inc CEO Chris Viehbacher, CEO of Bristol Myers Squibb, Chris Boerner, Eli Lilly and Company CEO David A. Ricks, LAM Research CEO Tim Archer, GlobalFoundries CEO Thomas Caulfield, and the CEO of Kyndryl, Martin Schroeter. "Further cementing technology and business connect. PM @narendramodi interacted with the top tech leaders and CEOs of USA, in a Roundtable hosted by the Massachusetts Institute of Technology School of Engineering, in New York today. PM emphasised India's growth prospects and discussed initiatives to foster collaborations and innovation across diverse sectors," the official account of the MEA said in a post on X. The prime minister had a separate meeting with Krishna P Singh, CEO of Holtec International, which is into nuclear and solar power generation. They discussed Holtec's plan for expanding manufacturing in India and advancing energy cooperation, PMO India said in a post on X. Earlier on Sunday, Modi addressed the <keyword id="20115166" type="General" weightage="20" keywordseo="Indian-diaspora" source="keywords">Indian diaspora</keyword> at the packed Nassau Veterans Coliseum on Long Island in New York. He also held bilateral meetings with world leaders at the sidelines of the UN General Assembly session here. Modi reached New York on Saturday after attending the Quad Leaders' Summit hosted by President Joe Biden in Wilmington, Delaware. <div type="Article" hostid="261" msid="113516805" title="Why is Indian Prime Minister Narendra Modi visiting the US this weekend?" mstype="2" mssubtype="0"></div>

PM Modi invites US CEOs to take a 'byte' out of India's growing technology sector

<ul><li>The hospitality industry has bounced back to pre-Covid levels.</li><li>India witnessed a 244% demand increase in hotels across six major cities — Delhi, Bengaluru, Chennai, Goa, Hyderabad and Mumbai in the second quarter of 2022.</li><li>Hotel stocks have delivered returns of over 50% in the last 12 months.</li><li>Hotel companies Chalet Hotels and Indian Hotels Company have doubled investors’ money in the last one year.</li></ul>After two erratic years, travel is back in vogue. Hotel operators are seeing a surge in occupancies as all forms of travel are back – be it vacations, weddings, conferences, exhibitions or business travel. The hospitality industry, which was brutalized by the pandemic, has bounced back to its pre-Covid levels, according to a report by HVS Anarock. In the June quarter of 2022, there has been a 244% increase in demand for hotels across six major cities — Delhi, Bengaluru, Chennai, Goa, Hyderabad and Mumbai, according to Hotel Momentum India Report 2022. The beneficiaries of this pick up are the listed hospitality players. Over the last one year, most hotel stocks have given returns between 50-100%. “Large-scale infrastructure push by the government in the budget, revival of domestic and international tourism, resumption of international flights, improving leisure and wedding demand are strong drivers,” said a report by Ventura Research. Luxury hotels like Indian Hotels Company, EIH Hotels, Lemon Tree are also set to gain from the G20 Summit 2023 that India will host in Kashmir. The event will be attended by 6,000 delegates. Investors had spotted the travel theme this January, which is reflected in the shares of these hotel companies. Chalet Hotels and Indian Hotels Company doubled investors’ money in the last one year. <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;">Hotel company stocks </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;">Last six months </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;">2022 so far </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;">Last one year </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 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;">25% </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;">26% </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;">EIH Associated 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;">25% </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;">26% </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% </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;">35% </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;">52% </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;">104% </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;">49% </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;">41% </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;">76% </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;">40% </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;">47% </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;">101% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Indian Hotels - a multibagger with an app-advantage Some of the rally in the shares of Tata-owned Indian Hotels Company also has to do with its latest strategy ‘AHVAAN 2025’ which is a roadmap for profitable growth by FY25-26. Under the new strategy the hotel chain aims to build a portfolio of 300 hotels and clock operating margin of 33% by FY26 from 25% at present. Indian Hotels is debt-free and has generated positive cash flows of ₹115 crore in FY22, due to pick up in business and working capital management. The company’s management said their second quarter is generally the weakest. “However, this year, 2Q FY23 estimate doesn’t seem to be that weak, according to the current visibility. For FY24 estimate, while we (and consensus) forecast 12% YoY revenue growth, profitability should improve faster due to cost efficiency gains,” said the management. Integration within the Tata group, and the creation of the Tata Neu super app may also offer a significant upside to revenue. Tata Neu cuts across the many offerings of the group be it travel, shopping, travel bookings, financial services and also provides exclusive offers. IHCL had 2 million loyalty members of its own, but the app helped push this membership base to 3 million. “Revenue from loyalty members has increased from 12-13% of overall revenue pre-Covid to 18% this year. In addition, synergies with Tata’s aviation business has yet to show results,” said a report by HSBC Global Research. Chalet Hotels gets an airport boost Another multibagger stock in the hotel industry -- Chalet Hotels also had a good run up in its share price. Recently, Delhi International Airport asked the company to develop a hotel at the T3 Terminal of Indira Gandhi International Airport (IGIA). With this, CHL which runs JW Marriott Mumbai Sahar, Four Points by Sheraton Navi Mumbai and several others, will enter the north India market. It will have around 350-400 rooms positioned in the 5-star deluxe space. The emerging tide of travel post-Covid is reflected in the company’s financials as it made a profit of ₹286 crore in April-June quarter of FY23 against a loss in the previous quarter and corresponding quarter last year. In fact, it was the best first quarter result delivered by the company supported by strong recovery in business travel and IPL season. However, the company highlighted in its latest June quarter results that only 56% of the foreign travel business is back. Its MD &amp; CEO Sanjay Sethi quoted several reasons for it including difficulty to get the visas and Russia Ukraine war. Boost in business trips highly beneficial to Lemon Tree Hotels, say analysts While it’s not a multibagger, the stock of Lemon Tree also went up by 76% in the last one year. It’s one of the largest hotel chains in the mid-priced segment in India. “With revival of demand in corporate travel, large events and conferences, Lemon Tree with 86% of its hotels at business destinations, is set to benefit,” said Shobit Singhal, research analyst at Anand Rathi. The brokerage says that it will also benefit from its brand building exercises, cost efficiency, geographic expansion and a mix in price points. “Its strategy of vigorous expansion and its asset-light model augurs well for the long term,” said Singhal. The company plans to add 738 rooms in Mumbai and Shimla in the next two years with an investment of ₹1,006 crore. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/10000-investment-in-gensol-engineering-ev-stock-gave-2-77-lakh-return-in-a-year/articleshow/93740070.cms">This EV firm rose 2600% in a year: ₹10,000 invested in this stock a year ago is worth ₹2.77 lakh</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/not-just-ev-makers-there-are-many-more-stocks-that-can-gain-from-ev-play/articleshow/93696654.cms">Not just EV makers, there are many more stocks that can gain from EV play</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/this-financial-metric-explains-how-the-indian-economy-will-take-some-time-before-it-is-back-on-track/articleshow/93746079.cms">This financial metric explains how the Indian economy will take some time before it is back on track</a>

Hotels make for a happy home for investors, stocks return over 50% in less than six months

India's diversified entity <keyword id="19896958" type="General" weightage="20" keywordseo="ITC" source="keywords" meta.keywordsubtype="org" meta.entityname="ITC" meta.hostid="153" meta.entityid="ITC">ITC</keyword> plans to open more hotels overseas with neighbouring countries and the Middle East as primary target markets after opening of its first international property here, company Chairman and Managing Director <keyword id="20049280" type="General" weightage="20" keywordseo="Sanjiv-Puri" source="keywords">Sanjiv Puri</keyword> said on Thursday. The company's arm <keyword id="20032522" type="General" weightage="20" keywordseo="ITC-Hotels" source="keywords" meta.keywordsubtype="org" meta.entityname="ITC Hotels" meta.hostid="153" meta.entityid="ITC Hotels">ITC Hotels</keyword>, which had opened 22 new properties in the last 24 months, plans to add another 70 hotels in the next five years in India as part of expansion plans in the <keyword id="20402233" type="General" weightage="20" keywordseo="hospitality-sector" source="keywords">hospitality sector</keyword>. Besides the hotels business, the company will look for opportunities to expand the presence of <keyword id="19931572" type="General" weightage="20" keywordseo="FMCG" source="keywords" meta.keywordsubtype="org" meta.entityname="FMCG" meta.hostid="153" meta.entityid="FMCG">FMCG</keyword> and other verticals in new overseas markets as well. "We are open to exploring opportunities that come about. I think we have strong credentials in hospitality which we can take outside India now. Very clearly at the moment the focus is on proximal markets, be it for hospitality, be it for FMCG...," Puri said here at a press conference after the opening of the 352-room luxury property, <keyword id="20911944" type="General" weightage="20" keywordseo="itc-ratnadipa" source="keywords">ITC Ratnadipa</keyword> here. He said as the company explores and understands a place for a particular business, it may look at it as a market for other verticals as well. Citing the example of Nepal, Puri said,"We started with other businesses and are now looking at hospitality (there). Here (in Sri Lanka) we have started with hospitality...as we explore and understand the place, we will look at possibilities in some of our other sectors as well." On overseas expansion of the hospitality business, while the company's focus is more on 'proximal markets', he said,"We are open to it if there are some interesting opportunities beyond it. We will certainly be interested in pursuing that." When asked if ITC is looking at the Middle East as a market for the hospitality business, he said it is a vibrant economy right now with terrific growth plans and "if opportunity comes our way then we will certainly explore that". Puri also said the company will look to expand in more destinations in Sri Lanka going forward. "This (opening of ITC Ratnadipa) is the starting point and yes, we want to expand and grow the economy and contribute to the development of tourism in Sri Lanka," he said. When asked about ITC's overall expansion plans in the hospitality sector, he said,"We have a very healthy pipeline of 70 hotels in five years." All these 70 hotels are for the Indian domestic market and most of them will be the upscale segments. He, however, said "(For) overseas we're just starting our journey. So we have not yet got to the stage to start putting a number right here." On investments planned for the overall expansion, he did not share a specific number but said "between renovation and new properties will spend somewhere between Rs 700 crore to Rs 1,000 crore a year". When asked about the progress of the demerger of ITC Hotels and its planned public listing, Puri said it is happening in line with the indicated timelines and is expected "before the second half of this year or the end of this year". At its new property here, the company had invested about USD 500 million. It was inaugurated on Thursday by Sri Lankan President Ranil Wickremesinghe. The ITC Ratnadipa or 'Island of Gems' has 352 guest rooms, suites and service apartments, each with private balconies with waterfront views. Earlier in the day, speaking at the opening of the new hotel, Puri said,"It is very natural for us to specifically focus on markets in proximal areas, encouraged also by our Prime Minister's (Narendra Modi) vision of neighbourhood first where Sri Lanka has a very special position. ITC is deeply committed to growing our presence and contributing to hospitality in the region." SEE ALSO:<a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank">Realme Narzo 70, Narzo 70X 5G smartphones launched in India starting at ₹11,999</a><a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank">Apple Let Loose event scheduled for May 7 – New iPad models expected to be launched</a>

ITC plans to open more hotels overseas: CMD Sanjiv Puri

Billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>'s Reliance Industries and <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="153" meta.entityid="Tata Group">Tata Group</keyword> have made it to the prestigious TIME's list of 100 World's Most Influential Companies of 2024. TIME called Reliance 'India's Juggernaut'. This is the second time that Reliance has found its way into the TIME list. Jio Platforms, the firm that holds digital properties of the conglomerate, was included in the inaugural TIME 100 Most Influential Companies List of 2021. Serum Institute is the other Indian company on the list. TIME listed Reliance in the 'Titans' category (one of the five categories under which the companies were divided, other being Leaders, Disrupters, Innovators, and Pioneers). Tata was listed in 'Titan's' category while Serum under 'Pioneers'. "Reliance Industries was founded as a textile and polyester company 58 years ago by Dhirubhai Ambani. Today the sprawling conglomerate -- which has aligned its growth with Indian Prime Minister Narendra Modi's vision for a 'self-reliant' India -- is the country's most valuable company, with a market capitalisation of more than USD 200 billion," TIME said. Now led by Dhirubhai's son Mukesh, the Mumbai-based company has ventures in energy, retail, and telecommunications, among others, and has made its chairman Asia's richest man, it said. The publication went on to stated that in February, Reliance came out on top in a fiercely competitive race to dominate India's burgeoning streaming market by striking a USD 8.5 billion merger deal with Disney's India business. "The deal will bring together more than 100 television channels and give the combined group around a 31 per cent share of India's streaming market compared to rivals Netflix and Amazon Prime with 8 per cent each," according to analytics firm Comscore. Reliance has revolutionised several economic sectors in the world's most populous country by making world-class products and services available at affordable prices with multiple innovations. Under Mukesh Ambani, the firm's telecom arm Jio revolutionised India's digital landscape and drove digital inclusion on an unprecedented scale with the most affordable mobile data tariffs in the world. It set up the world's largest single location refining complex. Reliance Retail is ranked among the top 100 retailers globally and in FY24 it registered 1.06 billion footfalls across its 18,800+ stores (67 per cent of which are in small towns and villages). Reliance is investing USD 10 billion in building the most comprehensive ecosystem for new energy and new materials in India and has set an ambitious goal to reach net-zero carbon by 2035. TIME described Serum as the world's biggest vaccine maker, churning out billions of vaccines. The company makes 3.5 billion doses every year, including for measles, polio, and most recently, HPV. "Serum's CEO Adar Poonawalla says the company's success can largely be chalked up to its private ownership. Not being beholden to shareholders allows it to keep vaccine prices low (the R21 will cost USD 4 a shot)," the publication said. Tata Group, it said, was founded in 1868 and has a vast portfolio extending from steel, software, watches, subsea cables, and chemicals, to salt, grains, air-conditioners, fashion, and hotels. "But as rivals have aggressively courted new businesses, it struggled to keep up with stiff competition. In 2017, after over a century of family management, N Chandrasekaran took over as chairman despite having no personal ties to the family -- highly unusual when India's business landscape is ruled by family succession plans," TIME said. As chair, he has transformed the group by investing in tech manufacturing, AI, and semiconductor chips. In 2023, it became the first Indian company to assemble iPhones, and is building another plant, it said, adding that in September, Tata announced a partnership with Nvidia to develop an AI cloud in India. "And this year, it announced plans for the country's first major semiconductor manufacturing facility. The moves seem to be paying off: in February, Tata's combined market capitalisation reached a whopping USD 365 billion, more than the entire economy of India's neighbour and rival, Pakistan," it added. This is the fourth edition of annual TIME100 Most Influential Companies list, highlighting companies making an extraordinary impact around the world. To assemble the list, TIME solicited nominations across sectors, and polled its global network of contributors and correspondents, as well as outside experts. Then, TIME editors evaluated each on key factors, including impact, innovation, ambition, and success. The result is a diverse group of 100 businesses helping chart an essential path forward. SEE ALSO:<a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank">Lok Sabha Exit Poll 2024 – what are they, when will they be announced and all you need to know</a><a href="https://www.businessinsider.in/tech/apps/news/truecaller-can-now-detect-if-the-caller-is-using-ai-how-to-use-it-to-prevent-ai-call-scams/articleshow/110556100.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/truecaller-can-now-detect-if-the-caller-is-using-ai-how-to-use-it-to-prevent-ai-call-scams/articleshow/110556100.cms" target="_blank">Truecaller can now detect if the caller is using AI – How to use it to prevent AI call scams</a><a href="https://www.businessinsider.in/sports/webstories/indias-t20-world-cup-team-matches-and-everything-you-need-to-know/slidelist/110551798.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/indias-t20-world-cup-team-matches-and-everything-you-need-to-know/slidelist/110551798.cms" target="_blank">India’s T20 World Cup team, matches and everything you need to know</a>

Reliance, Tata on TIME's list of world's most influential companies

Brokerage house ICICI Securities has given a 'buy' call for hospitality stocks such as <keyword id="6383232" type="General" weightage="50" keywordseo="indian-hotels-company" source="Orion">Indian Hotels Company</keyword> and <keyword id="136437" type="General" weightage="100" keywordseo="lemon-tree-hotels" source="Orion">Lemon Tree Hotels</keyword>. Due to Covid waves in 2020 and 2021 globally and across <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>, the hospitality industry has seen a lot of volatility in terms of occupancies and room rates over the last two years. Heading into FY23, the beleaguered hospitality sector, which has borne the brunt of multiple Covid waves impacting business, is seeing a confluence of positives with leisure demand remaining strong and business travel set to see a strong leg up with reopening of offices, resumption of international flights and events and conferences, the brokerage said. However, key risks to the sector are fresh Covid waves globally and in India impacting demand and rise in operating costs denting margins. For Indian Hotels Company, the brokerage pegged target price at Rs 285 per share, as against its current market price of Rs 252. For Lemon Tree Hotels, the target price is pegged at Rs 80, against its current market price of Rs 66. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/cz-zhao-sam-bankman-fried-and-others-on-full-list-of-crypto-billionaires-2022/articleshow/90702273.cms">Seven more crypto billionaires have emerged this year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/uber-to-offer-train-bus-and-flight-bookings-in-uk/articleshow/90702134.cms">Uber to offer train, bus and flight bookings in UK</a>

ICICI Securities gives ‘buy’ call on Lemon Tree and Indian Hotels — check out target prices

<ul class="summary-list"><li>Radhika Merchant and Anant Ambani are slated to get married on Friday in Mumbai.</li><li>Four Indian event planners shared what it's like to plan a big celebrity wedding.</li></ul>The wedding of the year is upon us.After rounds of opulent pre-wedding festivities, <a target="_blank" rel=" nofollow" class="editor-rtfLink" href="https://www.businessinsider.in/india/news/anant-ambani-and-radhika-merchant-to-wed-at-the-jio-world-convention-centre-in-mumbai-on-july-12/articleshow/110562426.cms">Radhika Merchant and Anant Ambani</a>, the youngest son of <a target="_blank" rel="" href="https://africa.businessinsider.com/local/markets/indian-billionaire-ambani-targets-african-telecom-market-with-new-venture/vwmsmgn">Asia's richest man</a>, are slated to get married on Friday in Mumbai.Their guests, who have so far included <a target="_blank" href="https://www.businessinsider.com/ambani-pre-wedding-celebration-with-justin-bieber-performance-2024-7">Bollywood actors, Indian cricketers,</a> and <a target="_blank" href="https://www.businessinsider.com/bill-gates-mark-zuckerberg-among-expected-attendees-at-indian-wedding-2024-2">international business leaders</a>, will also attend events on Saturday and a reception on Sunday.During a pre-wedding event in March, Ambani said his mom worked 18 hours a day for the four months leading up to the parties."All this is created by my mother and no one else, and my mother has gone all out for the last four months," Ambani said, per a <a target="_blank" rel=" nofollow" href="https://www.youtube.com/watch?v=mmMh8KtrGaY&amp;ab_channel=BusinessToday">video</a> of the speech uploaded in March.Planning such an event takes a village, according to four wedding planners who spoke to Business Insider about what goes into organizing a multi-day Indian celebrity wedding.<h2 id="d3a9cac7-58b4-42c9-888b-817200ed450e">The biggest cost is the venue</h2>The planners BI spoke to said a typical multi-day wedding that they plan costs between five to 10 crore Indian Rupees, or about $1.2 million.Crore is an Indian term for 10 million; 1 crore rupees is around $120,000.Whether it's a big-ticket <a target="_blank" href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">wedding like the Ambani's</a> or the wedding of an upper-middle-class family, the breakdown of major costs in an Indian wedding look about the same, one event planner told BI.About 40% to 50% of the budget goes to the venue, which includes catering and rooms for the guests, said Nishita Aggarwal, the founder of The Event Designer, a Delhi-based wedding planning company.Next, 25% to 30% of costs go toward decorations, which include elaborate backdrops, tents, and floor-to-ceiling floral arrangements.<div type="image" title="pink backdrop at Indian wedding" height="3508" width="5262" msid="111674066" hostid="261"></div>About 10% is spent on entertainment. The Ambanis have hired Rihanna, <a target="_blank" href="https://www.businessinsider.com/ambani-pre-wedding-celebration-with-justin-bieber-performance-2024-7">Justin Bieber, </a><a target="_blank" href="https://www.businessinsider.com/anant-ambani-katy-perry-backstreet-boys-pre-wedding-party-2024-6">Katy Perry, The Backstreet Boys</a>, and Pitbull for pre-wedding functions in recent months.Other families spend a lot on artists including singers and celebrity DJs, said Purvi Modgil, a destination wedding planner based in Mumbai."If you plan to call three or four of them in different core functions, that can also add up to a good cost," she said.The remaining 10% usually goes into wedding gifts and logistics for the family and guests."Now, when it comes to a high-net-worth wedding or a celebrity wedding, everything becomes 10 times or hundred times" of that cost, Aggarwal said. "There is no bar on the budget."Planners' cost estimates of the Ambani wedding varied widely, from tens of millions of dollars to hundreds of millions of dollars.Anant's older sister <a target="_blank" href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">Isha Ambani</a> got married in 2018 in a similarly lavish wedding, including a Beyoncé performance. While media outlets speculated about a $100 million price tag, a spokesperson for the Ambani-owned company, Reliance, said that it cost less than $15 million, <a target="_blank" href="https://www.forbes.com/sites/naazneenkarmali/2018/12/11/the-big-fat-ambani-wedding-celebrates-a-match-among-indias-billionaire-elite/#7cb474465992">per a Forbes article</a> at the time.A spokesperson for the family did not respond to a request for comment about the costs for Anant Ambani's wedding.The pre-wedding events have grabbed <a target="_blank" href="https://www.businessinsider.com/ambanis-throwing-another-pre-wedding-party-cruise-ship-2024-5">headlines</a> for months. With so many celebrities and business leaders angling for an invitation, the nuptials are also a business networking event, Aggarwal said.<h2 id="7190f45a-3ee9-4e5a-bf2a-0fef8f5de89f">Each main family member is assigned a 'shadow'</h2>Many couples don't want to host their weddings at venues where other high-profile families have already held nuptials, Aggarwal said."They want everything to be exclusive," she said. "The decor has to be something else that no one else has ever thought of. It is almost like a big movie set."For a big celebrity wedding, planners divide their staff into teams and hire hundreds of additional people leading up to and on the day of the ceremony.With chefs, waiters, light and audio teams, and decorators, about 500 people often work the event, Modgil said.The planners also assign butlers to each main family member. These staffers, called "shadows," hold their phones and gifts and ensure they stay hydrated and have everything they need."There are over 70 suppliers and vendors who we work with for each wedding," said Darshan Shroff, a Mumbai-based wedding planner. "I like to describe wedding planners in India as circus masters."<h2 id="07e84198-c3b3-4ae5-b860-565eaa82e3bd">Privacy and security are top concerns</h2>Many celebrity or influencer couples are particular about how their wedding is portrayed on the news and on social media.Planners have strict instructions that restrict posts from vendors about outfits, decor, or flowers before a set date. Most big weddings also collect the phones of their guests for privacy, and couples have teams that work with the media."You can't have too many people hanging out taking their pictures. It makes them very uncomfortable," Modgil said about celebrity guests and couples.Top security firms and even local authorities may sketch out safety plans."The minute there are some kind of celebrities, whether it's politicians or Bollywood, security becomes very important," Modgil said. "We've had separate people escorting them and even taking them back because sometimes they even get mobbed."The families and their guests are not always easy to please.Aggarwal said she has planned weddings where celebrity attendees call to confirm what type of hotel suite they will be staying in and what kind of car is coming to pick them up. Everything must match their lifestyle standard.<h2 id="f2b6f12d-16c9-4226-9b64-e59a5aa60374">Setting a blueprint for other weddings</h2>The Ambani wedding is already influencing how other Indians are envisioning and planning their own nuptials.The planners told BI that brides are asking them for the same designers that Radhika Merchant wore in her pre-wedding events, like the custom lehengas designed by Abu Jani Sandeep Khosla and Tarun Tahiliani.<div type="image" title="Radhika Merchant wore a Swarovski crystal lehenga designed by Abu Jani and Sandeep Khosla" height="691" width="1024" msid="111674067" hostid="261"></div>Planners expect the main wedding to leave an even bigger mark."Given the immense influence celebrities have, their weddings often become blueprints for future celebrations worldwide," said Bharat Jagasia, a Delhi-based wedding planner."For the Ambani wedding, I am particularly excited to see how they differentiate the main event from their pre-wedding functions," he said.The festivities are slated to kick off Friday at the Jio World Convention Centre, which is owned by the Ambani family. It can accommodate over 16,000 guests.July 12, 2024 — An earlier version of this story misstated Nishita Aggarwal's location. She is based in Delhi, not in Mumbai.

Behind the scenes of billionaire Indian weddings: Hired 'shadows,' phone bans, and a circus master to lead the chaos

<ul><li>According to data by the <keyword id="76562" type="General" weightage="20" keywordseo="Confederation-of-All-India-Traders" source="Orion">Confederation of All India Traders</keyword> (CAIT), over 3 million marriages will take place this <keyword id="6393318" type="General" weightage="20" keywordseo="Wedding-season" source="Orion">wedding season</keyword> in India, which will generate a business of over ₹3.75 lakh crore. </li><li>Hotels in North India are already sold out for this and the upcoming season next year already. </li><li>Most weddings continue to have shorter guest lists, in spite of high budgets. </li><li>Young couples are choosing off-season weddings.</li></ul>The onset of winter always spells a boom for the wedding market in India, but this season is different. After the Zoom weddings during the pandemic, this season 3.2 million weddings are expected to be held over December and January, as per CAIT. Like the festival season, there is no scrimping of the budgets either but something has changed after the pandemic. Call it the side effect of inflation or just a change in mindset, but weddings in India are more intimate affairs now, with thinner guest lists. “The pandemic has made the trend of mid-scale weddings with limited guests a big success. Couples are now keen to do small events and going big on intricate details,” Anam Zubair, head of marketing, <keyword id="13318814" type="General" weightage="20" keywordseo="WeddingWire" source="Orion">WeddingWire</keyword> India told Business Insider India. <cmsannotation type="cmsannotation" annotationid="Size does matter" comment="subhead" text="Size does matter">Size does matter</cmsannotation> Weddings are once-in-a-lifetime events, and Indians are known for throwing ‘<keyword id="486654" type="General" weightage="20" keywordseo="Big-fat-Indian-weddings" source="Orion">big fat Indian weddings</keyword>’. As per a <a href="https://www.livemint.com/politics/news/band-baaja-baraat-returns-with-gusto-11668965532547.html">KPMG report</a>, an Indian is likely to spend a fifth of his or her lifetime earnings on a wedding, and they can cost anywhere between ₹5 lakh to ₹5 crore. Over the last two years, the few weddings that were held during the pandemic had to stick to a slim guest list, following government’s restrictions on gatherings. Though the restrictions have been lifted, experts believe that the idea of an intimate wedding has struck a chord with people, and it’s here to stay. “The big fat Indian wedding has evolved and while people are spending more or less the same amount, the guest list size has significantly come down. From 400-500 guests on an average pre-Covid, it has now come down to 200-250. But the spending has not reduced as couples are focusing on enhancing the guest experience,” Zubair further explained. There, however, are exceptions, like in the case of a section of business families, who are continuing with their love for going big on celebrating marital unions. “In India, the concept of slim and slack weddings will coexist with big fat weddings. While the business families are back to big fat weddings with long guest lists, young couples still prefer intimate marriages,” Parthip Thyagarajan, CEO at <keyword id="4316003" type="General" weightage="50" keywordseo="weddingsutra" source="Orion">WeddingSutra</keyword>, a wedding portal, told Business Insider India. <cmsannotation type="cmsannotation" annotationid="Small but grand" comment="subhead" text="Small but grand">Small but grand</cmsannotation> Even as most couples are thinking ‘small’, it has had no effect on the size of the wedding season, that’s expected to hold around 3 million weddings. As per a <a href="https://www.businessinsider.in/business/news/estimated-32-lakh-weddings-till-dec-14-with-a-trade-of-rs-3-75-lakh-cr/articleshow/95352679.cms">report</a> by Confederation of All India Traders (CAIT), this year’s wedding season is expected to generate a business of about ₹3.75 lakh crore - an increase by 25% since last year. This, however, covers wedding purchases, services along with allied factors like house repairs that are undertaken as a part of wedding preparations. And, around 11% of the 3 million weddings are expected to be held in the national capital of India. In fact, most hotels in North India are already sold out for this and the upcoming wedding season next year. “We are getting a good response regarding the number of queries generated at our properties. Quite a few bookings have been confirmed until February 2023,” Vishal Lonkar, general manager, business development, <keyword id="14087766" type="General" weightage="50" keywordseo="renest-hotels-and-resorts" source="Orion">Renest Hotels and Resorts</keyword> told Business Insider India. Couples are now more focussed on perfect decor, cuisines and other smaller details, say experts. “Instead of a huge number of guests, the trend has shifted to grand weddings with a grand layout, décor, smaller number of guests, intimate gatherings, bespoke experiences, personalized services, exemplary selection of cuisine, beverages, the emphasis is ‘on the moment’, ‘luxury’, ‘larger than life’,” Kush Kapoor, CEO, <keyword id="3629833" type="General" weightage="50" keywordseo="roseate-hotels-and-resorts" source="Orion">Roseate Hotels and Resorts</keyword> told Business Insider India. Thanks to the wider selections being demanded by couples, the per plate costs of weddings also went up this season. “The cost has marginally increased by about 15%, but this is more to do with guests preferring luxurious, bespoke experiences, opting for more unique, global, fine dining cuisines, elaborate menus, wider selections,” Kapoor of Roseate Hotels further highlighted. <cmsannotation type="cmsannotation" annotationid="Off-season weddings in trend now" comment="subhead" text="Off-season weddings in trend now">Off-season weddings in trend now</cmsannotation> Couples who are now focussed on better wedding experiences are also willing to forego the muhurats or the traditional weddings seasons. This trend too was evident in the number of off-season weddings that took place this year, ahead of the busy November season. Zubair also says that they have seen an 18% y-o-y increase in couple sign-ups for bookings for off-season weddings. “It helps them reduce their wedding expenses significantly. During the wedding season/muhurat dates, both venues and vendors like photographers, caterers, etc. charge higher for the same products/services. In the over $50 million Indian wedding industry, this trend continues to resonate with consumers and drive new revenue opportunities for professionals,” Zubair said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/companies-discussing-labour-shortage-up-by-28-in-2022-report/articleshow/95654525.cms">Companies discussing labour shortage up by 28% in 2022: Report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/humans-will-be-able-to-live-for-longer-periods-on-the-moon-in-this-decade-says-nasa/articleshow/95652408.cms">Humans will be able to live for longer periods on the Moon in this decade, says NASA</a>

Big fat Indian weddings back but with slimmer guest lists

<ul><li><keyword id="14912257" type="General" weightage="20" keywordseo="flipkart-hotels" source="Orion">Flipkart Hotels</keyword> aims to provide customers options to book hotel rooms across 3 lakh domestic and international hotels. </li><li>Apart from offering flexible travel and booking policies, <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> aims to offer easy EMI options as well. </li><li>Launched on Cleartrip’s API, Flipkart Hotels will benefit from Cleartrip’s deep understanding of travel customers and sectors, the company said. </li></ul> Ecommerce major Flipkart announced the launch of a new hotel-booking feature, Flipkart Hotels, on its platform today. Launched on the back of Cleartrip’s API, Flipkart Hotels will provide customers the opportunity to book hotel rooms across 3 lakh domestic and international hotels. “Available on the Flipkart app, this new offering provides a hassle-free booking experience, and timely communication through popular messaging apps. The platform further enables users to avail third party offers on Flipkart platform,” the company said in a press release. Flipkart Hotels says that it will benefit from Cleartrip’s deep understanding of travel customers and sectors. It had acquired the travel bookings company in 2021. However, the ecommerce platform had launched a service to aid flight bookings on its app in 2020, during the pandemic. “Flipkart Flight is on a steady path of growth in the travel industry since we entered this space. With Flipkart Hotels, we are strengthening our commitment to provide a better experience and superior service to our customers across metros and beyond tiers,” said Adarsh Menon, senior vice president, Flipkart. Apart from offering flexible travel and booking policies, Flipkart aims to offer easy EMI options as well. “With our banking partner’s financial offerings, the customers will unlock great value in this segment and enhance Flipkart’s capabilities as a preferred one-stop shop for the travel booking needs of Indian customers,” said Menon. The online hotel bookings market in India has players like Oyo, Airbnb, Trivago, Booking.com and Treebo. Flipkart intends to bank on the growth seen in the hotels and hospitality sector, after the pandemic. It said that new travel trends like exploring lesser-known destinations, workations, long stays, and vacation rentals are becoming mainstream. “These developments are giving a boost to the travel industry. Given the 70% growth in the last quarter compared to a CAGR of 60% over the last two years, the next festive quarter is expected to be even better for the overall travel industry,” Flipkart said. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/sign-up-now-evaluating-the-road-to-sustainability/articleshow/94024967.cms">SIGN UP NOW: EValuating the road to sustainability</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/gadgets/news/boat-noise-boult-mivi-ptron-companies-dominate-the-tws-segment-with-over-70-of-the-market-share/articleshow/94024965.cms">Indian companies dominate the TWS segment with over 70% of the market share, but domestic manufacturing remains at 16% at best</a>

After Flipkart Flights, the ecommerce player ventures into hotel bookings business

<ul><li><keyword id="12158984" type="General" weightage="20" keywordseo="myhotelshop" source="Orion">Myhotelshop</keyword> provides hotels with software solutions for direct sales and distribution channels.</li><li>The acquisition will allow <keyword id="2645087" type="General" weightage="20" keywordseo="rategain" source="Orion">RateGain</keyword> to expand its offerings and reach out to more customers.</li><li>RateGain filed its DRHP last month for an initial public offering to raise over ₹400 crore through fresh issue.</li></ul>Software-as-a-service (SaaS) solution provider RateGain Travel Technologies, which is all set to go for an initial public offering (IPO) later this year, has acquired Germany-based Myhotelshop. Myhotelshop, founded in 2012 by Ullrich Kastner, provides hotels with software solutions for direct sales and distribution channels. It offers services like reporting, bid management and campaign intelligence platform. It also provides other travel products that enable online travel agencies (OTAs) and agency clients to reach out to more customers. The acquisition will allow RateGain to expand its offerings and reach out to more customers. "The merger will help in addressing a key challenge that the industry is facing in the post-COVID world that is witnessing increased digitization. The need to become digital-first is increasingly becoming chaotic and we aim to make it simpler for hotels to manage their acquisition strategy and enable them to unlock new revenue," Bhanu Chopra, founder at RateGain, said. Founded in 2004, RateGain too offers travel and hospitality software solutions. The company filed its draft red herring prospectus (DRHP) last month for an initial public offering (IPO). The company is looking to raise ₹400 crore through fresh issue and sell another 2.26 crore equity shares that are currently held by investor Wagner and promoters of the company. The company plans to use the proceeds from this public issue to repay debts and fund strategic investments, acquisitions and inorganic growth. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/news/meet-girish-mathrubootham-founder-and-ceo-of-freshworks/articleshow/86453777.cms">Girish Mathrubootham, the son of a retired bank officer who built a $13 billion company in just 10 years</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/why-jbm-auto-shares-spikes-17-in-one-trading-session/articleshow/86453353.cms">Multibagger stock JBM Auto spikes 17% in one trading session on large order for electric bus</a>

You Searched For "indian hotels company" and got 12 results

Hotel industry bounces back after three years into the pandemic

Bhakti Makwana

Cricket World Cup boost missing for hotels – an industry veteran explains why

Katya Naidu

PM Modi invites US CEOs to take a 'byte' out of India's growing technology sector

PTI

Hotels make for a happy home for investors, stocks return over 50% in less than six months

Bhakti Makwana

ITC plans to open more hotels overseas: CMD Sanjiv Puri

PTI

Reliance, Tata on TIME's list of world's most influential companies

PTI

ICICI Securities gives ‘buy’ call on Lemon Tree and Indian Hotels — check out target prices

IANS

Behind the scenes of billionaire Indian weddings: Hired 'shadows,' phone bans, and a circus master to lead the chaos

Shubhangi Goel,Lian Kit Wee

Big fat Indian weddings back but with slimmer guest lists

Vaamanaa Sethi

After Flipkart Flights, the ecommerce player ventures into hotel bookings business

Katya Naidu

IPO-bound RateGain acquires Germany based startup to expands software solutions for hoteliers

Kritti Bhalla

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

Bhakti Makwana

Popular Keywords

Buying Guides