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Hotel & Tourism Newsletter - February 08 to 12, 2016

India Infoline News Service | Mumbai | February 12, 2016 16:36 IST

This week saw ITC plans to announce 3 greenfield projects in WB and SAMHI Hotels announce acquisition of Ascent Hotels Pvt Ltd. Ascent owns the 220 rooms Hyatt Regency hotel in Pune. IIFL presents a weekly snapshot of all the major happenings in hotel & tourism industry nationally and internationally.

Cox and Kings slumps 13%

India Infoline News Service | Mumbai | February 12, 2016 10:35 IST

The scrip opened at Rs. 179 and has touched a high and low of Rs. 179 and Rs. 150.7 respectively.

ITDC: Q3 net revenue likely to fall; net profit to rise

India Infoline News Service | Mumbai | February 11, 2016 22:01 IST

IIFL forecasts the companys net revenue for Q3 FY16 to plummet to Rs. 125 crore, at a rate of 3.8% yoy; however, it is likely to surge 42% qoq.

360Ride launches its ride-sharing service in Delhi NCR

India Infoline News Service | Mumbai | February 10, 2016 12:34 IST

The new service is launched with an objective to enable the commuter to offer/share a ride with people travelling on the same route, thereby, reducing congestion and commuting fares as well.

SAMHI acquires Ascent Hotels

India Infoline News Service | Mumbai | February 09, 2016 12:51 IST

Ascent owns the 220 rooms Hyatt Regency hotel in Pune as well as 102 serviced apartments operated under the same brand. Ascent Hotels Pvt. Ltd. is owned and managed by the real-estate and hospitality conglomerate, RK Jatia Group.

Debt reduced by Rs 84 cr in third quarter: Peter Kerkar, Cox & Kings

India Infoline News Service | Mumbai | February 08, 2016 16:31 IST

Kerkar is quite happy with the companys performance in the quarter that went by. He added that the companys standalone numbers, particularly in India, came in strong, which is remarkable.

Will steer away from current pricing trend in the industry: Rakesh Sarna, Indian Hotels Company

India Infoline News Service | Mumbai | February 08, 2016 16:26 IST

With Marriott-Starwood Deal in India, Sarna compared apples-to-apples, stating that the difference between Taj and the former is not vast. Where Taj have over 10,000 room, Marriott-Starwood would have close to 13,000, explained Sarna.

ITC may announce 3 greenfield projects in WB

India Infoline News Service | Mumbai | February 07, 2016 08:39 IST

Report says that the company is planning to invest more than Rs. 3,000 crore.

E-Visa initiative helped to gain traction: Nakul Anand, ITC

India Infoline News Service | Mumbai | February 05, 2016 16:34 IST

Anand said that the sentiment around hotel industry is encouraging, both regarding leisure and business. Initiatives such as better airport facilities, e-visa and other measures by the government will leave a positive impact on the industry.

Hotel and Tourism Newsletter - February 01 to 05, 2016

India Infoline News Service | Mumbai | February 05, 2016 13:37 IST

This week saw State Bank of India announce a partnership with Thomas Cook India. WeTravelSolo launches mobile app for Solo. IIFL presents a weekly snapshot of all the major happenings in hotel & tourism industry nationally and internationally.

Court battle hurts McDonald's growth in north, east India

India Infoline News Service | Mumbai | February 05, 2016 08:32 IST

In 2014-15, CPRL posted Rs. 645 crore revenue compared to Rs. 609 crore in the previous financial year.

Thomas Cook Q3 net loss at Rs. 13.53 crore

India Infoline News Service | Mumbai | February 05, 2016 07:19 IST

The total income from operations stands at Rs. 1,044 crore, up 41% from Rs 741.12 crore like period of 2014-15.

Westlife Development Q3 revenue expected to rise

India Infoline News Service | Mumbai | February 04, 2016 21:53 IST

IIFL expects the company to report a loss of Rs. 6 crore.

SBI announces partnership with Thomas Cook India

India Infoline News Service | Mumbai | February 04, 2016 16:35 IST

The cost of the package tour is split into 12 monthly instalments with a free 13th instalment via a combination of accrued interest and a top-up from Thomas Cook India.

Thomas Cook trades flat; Quess Corp files papers for Rs 4,000 mn IPO

India Infoline News Service | Mumbai | February 04, 2016 12:48 IST

Quess Corp intends to use the IPO proceeds towards incremental working capital, acquisitions and other strategic initiatives, capex and towards debt repayment, apart from general corporate purposes.

Byke Hospitality Q3 net profit rises 34.1%

India Infoline News Service | Mumbai | February 04, 2016 06:44 IST

Total revenue for the third quarter rose by 22.7% to Rs 69.97 crore on y-o-y.

WeTravelSolo launches mobile app for Solo Travellers

India Infoline News Service | Mumbai | February 02, 2016 12:52 IST

The app offers you limitless options to travel and meet like-minded people. It brings to you expert advice, guidance and company of people who have traveled the world far and long, as your Trip Crafters.

EIH plunges 3%; to close Oberoi hotel in New Delhi for two years of renovation

India Infoline News Service | Mumbai | February 01, 2016 16:29 IST

EIH said that the company earned 13.68% or Rs 186.88 crore of its revenue from the property during the last financial year ended March 31st 2015.

EIH to close Oberoi hotel in New Delhi for two years for renovation

India Infoline News Service | Mumbai | January 31, 2016 09:15 IST

The hotel is expected to be ready for commercial operations by 1st April 2018.

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