Sector: Food and Hospitality
ITC to demerge the hotels business
It was long awaited and finally ITC‘s board has taken the decision to demerge the hotels business into a new entity. Name of the new entity is proposed to be “ITC Hotels Limited (IHL)” In such kind of demergers, normally existing shareholding of the main Company gets replicated in the new entity i.e., 1:1 share … Read more
Chalet signs up Taj for the upcoming Airport Hotel
Chalet has an under construction property at Terminal 3 of the Delhi Airport. It is scheduled to be commissioned by FY 26 The property is planned to have 400 rooms The Company has now signed up with Indian Hotels for franchise of the marquee ‘Taj’ brand for this property. Without doubt this is one of … Read more
Radisson Hotel Group announces entry of luxury lifestyle brand in India
Radisson Hotel Group on Wednesday announced the entry of its luxury lifestyle brand “Radisson Collection” in India with the signing of the first hotel in Hyderabad. The 300-room hotel is close to the city’s financial district, which houses business centres, IT parks and Special Economic Zones (SEZs). The hotel would be operational by the second … Read more
Audit regulator asks Mahindra Holidays to review policies. Investors should not ignore.
National Financial Reporting Authority (NFRA) has directed Mahindra Holidays to “thoroughly and proactively” review its accounting policies and practices in respect of segment reporting. What’s the background and what exactly is this all about? NFRA order is passed in the wake of Delhi High Court’s order of January 18, 2023 following a writ filed by … Read more
Key business plans of Mahindra Holidays
Mahindra Holidays and Resorts has shared the following – The company had 2.8 lakh members as of December 2022. It will add 2,100 more rooms in the next five to six years with an investment of around Rs 1,800 cr At present, the company has 4,900 keys inventory across 119 properties; 60 per cent of … Read more
Planning travel itinerary killing your holiday vibe? Trust ChatGPT to get it right
Hey ChatGPT, can you plan one week Thailand Trip? Of course, I’d be happy to help you plan a one-week trip to Thailand! To get started, I would need some information from you such as your budget, interests, and travel dates. Based on your responses, I can provide recommendations for places to visit, things to … Read more