Budget FY23: Covid-hit hospitality sector demands infra status for hotels

With the fresh wave of COVID-19 plunging the hospitality sector back into uncertainty, industry body HAI on Monday said it has asked the government to consider granting infrastructure status to hotels, extend moratorium on loans and rationalise taxes. In its pre-Budget memorandum, the Hotel Association of India (HAI) said policy interventions are imperative for the … Read more

The Las Vegas strip’s latest $4.3 billion crypto-friendly hotel has $15,000-a-night ‘villas’ and ‘palaces’ — see what it’s like to stay in one

The $4.3 billion Hilton hotel is filled with all the classic Las Vegas accoutrements, like plenty of food, gambling opportunities, pools, and watering holes. Resorts World Las Vegas. John Locher/AP Photo   But unlike many of the Strip predecessors, Resorts World’s amenities have a tech-friendly twist, such as the option to pay with cryptocurrency. The … Read more

MakeMyTrip and Amazon Pay form strategic tie-up to offer travel services

Amazon Pay, the digital payments arm of the e-commerce giant and MakeMyTrip India, a fully owned subsidiary of MakeMyTrip Limited (MMYT), India’s leading travel group, have announced a strategic long-term partnership to offer travel services on Amazon.in which includes its suite of mobile apps and websites. The partnership will help Amazon Pay create a convenient … Read more

Bandhan bank’s related entities acquire 25% of Nicco Parks & Resorts

Bandhan Employees’ Welfare Trust and Angshuman Ghosh, son of Bandhan Bank founder Chandra Shekhar Ghosh, together have bought a 25% stake in Nicco Parks & Resorts, the largest amusement park in eastern India. Key points to note – The Trust owns 14% in Bandhan Financial Services, the promoter of Bandhan Bank. The Trust has around … Read more

One Oyo exec might make ₹1,100 cr on IPO

Thousands of employees of Oravel Stays Pvt. Ltd, the operator of the Oyo hotel aggregator platform, are set to make a windfall as the company proceeds with its planned public listing. Oyo is expected to create a total wealth of about $668 million (about ₹5,000 crore) for its employees based on a post-IPO valuation of … Read more