RIL may tie up with EIH for hotel project in Navi Mumbai: reports
Reliance Industries group is planning to collaborate with EIH Ltd for a 180-room hotel project at Navi Mumbai, according to reports.
Reports stated that though a formal agreement has not yet been signed; the two groups were considering the proposal.
The Oberoi group may run the hotel on a management contract under its ‘Trident’ brand, says report.
Reliance Investments and Holding Pvt Ltd has an 18.53% stake in EIH.
There are reports that Of the EIH projects at Cyber City in Hyderabad, the 326-room ‘Trident’ is expected to be completed later this year and the 220-room ‘Oberoi’ is likely to be ready next year.
Long-term outlook for hospitality industry is positive: PRS Oberoi
Addressing the Sixty-second Annual General Meeting of EIH Limited (the flagship Company of The Oberoi Group) held in Kolkata today Mr. P.R.S. Oberoi, Chairman said “Despite a promising start, 2011 was a year of slow and fragile recovery. The year 2012 started on a promising note amidst hopes that the global financial crisis was at a turning point. Unfortunately, events have proved otherwise. Europe and the United States continue to be plagued by persistent recession and high levels of unemployment. The Eurozone is under immense stress. These economic upheavals could have dire consequences for most global economies”.
Oberoi also said that “The Company’s total revenue from operations for the year which ended on 31st March, 2012 increased by 8% as compared to the previous year. The profit from operations increased by approximately 20% and the profit after tax was Rs 122.42 crores as compared to Rs 64.54 crores in the previous year, which is an increase of approximately 90%.
Oberoi added “The Oberoi Group continues to be recognized by international travel magazines as amongst the best hospitality groups worldwide. Recently, the international travel magazine - Travel + Leisure has rated 3 Oberoi Hotels 1st, 3rd and 7th best in Asia. These awards are primarily due to the dedication of our employees who continue to provide exceptional service to our guests. This is a source of satisfaction and pride for us”.
Oberoi said “Despite short term challenges, the long term outlook for the Indian hospitality industry is positive. A country as diverse as India with a strong historic and cultural heritage will always be sought after by international travellers. Multiple centres of economic activity are emerging rapidly in India thus creating a growing demand for domestic customers who value quality and are prepared to pay for superior service and accommodation”.
Foreign tourist arrivals into India up 2.1% in July
Foreign Tourist Arrivals (FTAs) during the Month of July 2012 was 5.25 lakh as compared to FTAs of 5.14 lakh during the month of July 2011 and 4.67 lakh in July 2010. There has been a growth of 2.1 % in July 2012 over July 2011 as compared to a growth of 10.1 % registered in July 2011 over July 2010. FTAs during the period January-July 2012 were 37.62 lakh with a growth of 6.6 %, as compared to the FTAs of 35.29 lakh with a growth of 10.7 % during January-July 2011 over the corresponding period of 2010.
Foreign Exchange Earnings (FEE) during the month of July 2012 were Rs. 8389 crore as compared to Rs. 7116 crore in July 2011 and Rs. 5444 crore in July 2010. The growth rate in FEE in rupee terms in July 2012 over July 2011 were 17.9 % as compared to 30.7 % in July 2011 over July 2010. FEE from tourism in rupee terms during January-July 2012 were Rs. 52149 crore with a growth of 23.3 %, as compared to the FEE of Rs. 42279 crore with a growth of 14.8% during January-July 2011 over the corresponding period of 2010.
FEE in US$ terms during the month of July 2012 were US$ 1512mn as compared to FEE of US$ 1603mn during the month of July 2011 and US$ 1163mn in July 2010.The growth rate in FEE in US$ terms in July 2012 over July 2011 was (-) 5.7% as compared to the growth of 37.8 % in July 2011 over July 2010. This decline may be partly due to substantially depreciated value of Indian Rupees in July 2012 as compared to July 2011. FEE from tourism in terms of US$ during January-July 2012 were US$ 9967mn with a growth of 5.9 %, as compared to US$ 9414mn with a growth of 17.6 % during January-July 2011 over the corresponding period of 2010.
Ministry of Tourism compiles monthly estimates of Foreign Tourist Arrivals (FTAs) and Foreign Exchange Earnings (FEE) from tourism on the basis of data received from major airports
Indian Hotels plans to increase stake in Orient Express Hotels: reports
The Tata group’s Indian Hotels Company is planning to forge a partnership with Orient Express Hotels (OEH), according to reports.
Reports stated that IHCL owns 6.9% in OEH, which has a chain of luxury hotels and trains across many countries and has been pursuing a partnership with OEH, without any headway so far.
At the 111th annual general meeting of the company, IHCL Chairman Ratan Tata had reportedly said that there is a great strategic opportunity for us, though there is nothing we can say or do.IHCL had been scouting for opportunities to shore up its stake in OEH, says report.
EIH Q1 net profit at Rs94.50 mn
EIH Ltd has posted a net profit of Rs. 94.50 mn for the quarter ended June 30, 2012 as compared to Rs. 154.50 mn for the quarter ended June 30, 2011.
Total Income has decreased from Rs. 2558.40 mn for the quarter ended June 30, 2011 to Rs. 2479.00 mn for the quarter ended June 30, 2012.
Keys Hotels expands in India with 6 new properties
Keys Hotels, the mid-market brand of Berggruen Hotels, has expanded its boundaries by signing 6 new properties in Mumbai, Pune, Amritsar, Goa, Alibaug and Noida and is actively pursuing more opportunities across the country. The number of existing and under development Keys hotels have reached a total of 27 properties with 13 owned and 14 managed hotels. The 6 new Keys hotels that have been added to the Keys portfolio are Keys Hotel Rosewood – Mumbai, Keys Hotel Cypress – Pune, Keys Hotel City Park – Amritsar, Keys Resort Ronil – Goa, Keys Resort Albertsville, -Alibaug and Keys Hotel Ajnara – Noida.
Indian Hotels Q1 cons net loss at Rs333.60mn
Indian Hotels Company Ltd has posted a profit / (Loss) after Minority Interest of Rs. (333.60) mn for the quarter ended June 30, 2012 as compared to net loss of Rs. (222.70) mn for the quarter ended June 30, 2011.
Total Income has increased from Rs. 7244.90 mn for the quarter ended June 30, 2011 to Rs. 8662.70 mn for the quarter ended June 30, 2012.
Announcing the results, Raymond Bickson, Managing Director, said that the Sector continues to face pressure on demand due to the current economic environment, which in turn had kept the room rates subdued below desired levels in what is essentially an offseason period. He mentioned that the Company was poised at opening new Vivanta by Taj hotels at Gurgaon and Coorg in the near future as also its first prototype Gateway hotel at Kolkata later in this year.
Indians taking to Adventure Travel is on the rise
IBIS Hotel opens in Navi Mumbai
India Spices up 2012 Ozasia Festival Program
Fairmont Hotels & Resorts opens its first luxury hotel in Jaipur
Tourism Australia launches new promotional campaign ‘There's Nothing like Australia’
Tourism Australia, India has launched a new global promotional campaign, There's Nothing like Australia aimed at promoting Australia as a must-see destination with some of the world’s best tourism experiences.
Australia has a wealth of assets, natural and man-made, that differentiate it from other destinations around the world. There's Nothing like Australia campaign shows these assets in a contemporary, sophisticated, energetic and inspiring way. Focusing on high quality products, rather than broad based experiences, the campaign will show travellers what makes an Australian holiday distinct and unique.
In India, There's nothing like Australia supercedes the advocacy driven campaign that presented personal experiences of Indian nationals living in Australia and those who have visited the country. Featuring noted theater personalities - Aditya Hitkari & Divya Palat and Vikrant Kapoor, Chef and Partner, Zaaffran, Sydney, the previous campaign captured individual journeys of these personalities who spoke of their personal Australia story. Tourism Australia believes in word-of-mouth publicity as a powerful medium for motivating people to travel and advocacy will continue to remain a big part of bringing to life There's Nothing like Australia campaign.
Globally, the launch phase of There's nothing like Australia involved local Australians engaging with the campaign by uploading around 60,000 stories and photos to www.nothinglikeaustralia.com, to give travellers around the world ideas and inspiration for an Australian holiday. The latest phase of this campaign is being launched in India and highlights some of Australia’s best tourism attractions, experiences and products that showcase why there is nothing quite like Australia.
The campaign features many unique and iconic Australian destinations & experiences such as Sydney Harbour, Sydney Opera House & Blue Mountains in New South Wales, the Great Ocean Road & Melbourne in Victoria, the Great Barrier Reef & Gold Coast in Queensland, Kangaroo Island in South Australia, The Kimberley in Western Australia, Freycinet in Tasmania and the Ayers Rock (Uluru) in Northern Territory.
InterContinental shares advance on buyback plan: reports
InterContinental Hotels Group Plc shares climbed to an all- time high after announcing a plan to return US$1bn to shareholders through a special dividend and share buyback, according to reports.
Reports stated that company plans to pay a one-time dividend costing $500 million in the fourth quarter and will distribute the same amount in a share buyback program starting in that period.