Hotel Sector

ITC Hotels has delivered an impressive financial performance for the first quarter, recording a 53% rise in standalone net profit to Rs. 133.71 crore. The growth underscores the strong revival in India’s hospitality sector, fueled by sustained domestic travel, corporate events, and increased demand for premium experiences. This sharp uptick comes on the back of higher occupancy levels and improved average room rates across ITC’s luxury and business hotels.

Wyndham Hotels & Resorts, the world’s largest hotel franchising company, has outlined an expansive growth strategy for India, announcing plans to add more than 50 new hotels over the next several years. This aggressive pipeline underscores Wyndham’s confidence in India’s long-term hospitality prospects, fueled by rising domestic travel, improving infrastructure, and a maturing middle class eager for branded lodging experiences.

Sarovar Hotels has announced its continued expansion into Central India with the signing of a new property in Gwalior, Madhya Pradesh, in partnership with Prime Land Estates. The 100-key upscale hotel, Sarovar Portico Gwalior, is scheduled to open in 2029 and is expected to cater to both leisure and business travelers. This development reflects Sarovar’s strategic vision to strengthen its presence in tier-II cities with high tourism and economic growth potential.

Indian Hotels Company Ltd (IHCL), India’s premier hospitality group and a Tata enterprise, has announced the signing of a 100-key greenfield Ginger hotel in Kanpur, Uttar Pradesh. This move underscores IHCL’s commitment to expanding its presence in high-potential Tier-II and Tier-III cities. Developed in partnership with JK Urbanscapes Developers, the upcoming property reflects IHCL’s strategic focus on scaling the Ginger brand in emerging urban markets.

Radisson Hotel Group has announced the launch of a new property under its Radisson Individuals brand—D Square Statue of Unity Kevadia, a 91-key hotel strategically located near one of India’s most iconic tourist attractions in Gujarat. This opening marks a significant step in the group’s strategy to deepen its presence in high-growth leisure destinations across India.

Mahindra Holidays & Resorts India Ltd has been served a significant tax demand notice exceeding Rs. 363 crore, including penalties, linked to the reporting of integrated goods and services tax (IGST) on its club membership services. The demand pertains to the fiscal year 2018-19 and stems from allegations of misreporting IGST instead of the appropriate CGST and SGST components. The company has announced its intention to pursue legal avenues to challenge the notice, underscoring the ongoing complexities and scrutiny in GST compliance for service-based industries.

In a move that blends economic development with social upliftment, Indian Hotels Company Ltd (IHCL) has inked a landmark agreement with the Government of Uttarakhand to set up a hospitality-focused skill development centre in Nainital. The project, aligned with IHCL’s ESG+ initiative "Paathya," is designed to impart industry-specific training to local youth, equipping them for gainful employment in India's booming tourism sector.

IHG Hotels & Resorts, in collaboration with Samhi Hotels, has launched its second Holiday Inn Express in Kolkata, marking a significant step in their long-term expansion strategy within India’s booming hospitality sector. With a ₹40 crore investment and 113 keys, the hotel adds to IHG’s growing domestic footprint of 52 operational properties. Samhi Hotels owns 12 of the 18 Holiday Inn Express sites nationwide. Both firms foresee vast growth potential across tier-II and tier-III cities, aiming to tap into the robust domestic travel market.

ITC Hotels has announced the signing of a management agreement for its latest property, Mementos by ITC Hotels Siliguri, located in West Bengal. This development strengthens the brand’s footprint in the state, bringing its total count of operational hotels to six, with another six in various stages of development. The launch of Mementos by ITC Hotels marks the brand’s entry into Eastern India, capitalizing on the surge in domestic tourism and the growing demand for immersive travel experiences, particularly in the wedding and hospitality segments.

Gauri Khan’s recently launched restaurant, Torii, found itself in the spotlight after a viral Instagram video accused it of serving “fake paneer.” This claim, based on a widely shared iodine test, prompted a swift rebuttal from Torii’s team. In a candid conversation, Head Chef Stefan Gadit emphasized the restaurant’s commitment to quality and addressed the science behind the test. Despite the controversy, the incident ultimately increased Torii’s online following, inadvertently boosting its profile.