Royal Orchid Hotels Limited, one of India’s fastest-growing hospitality chains, has reported robust financial results for the second quarter and first half of the financial year 2024-25. With a consolidated revenue of ₹155.98 crore for H1, the company continues to solidify its position as a leader in the hospitality sector. The results showcase the company’s […]
Chalet Hotels Limited reported its highest-ever revenue growth for the second quarter of FY25, ending September 30, 2024. The company announced a total income of INR 3.8 billion, marking a 20% year-on-year increase from the same period in FY24. The hospitality group attributed the rise in revenue to strategic operational improvements and the expansion of […]
Benares Hotels Limited (BHL), a subsidiary of The Indian Hotels Company Limited (IHCL), has released its financial results for the second quarter (Q2) and half-year (H1) ending September 30, 2024. Despite a slight contraction in revenue, the company managed to maintain a robust EBITDA margin of 44%, expanding by 400 basis points compared to the […]
SAMHI Hotels Limited has made a significant move to boost its portfolio with the acquisition of Innmar Tourism and Hotels Private Limited. The company announced that this deal, valued at approximately ₹2,050 million, is set to expand SAMHI’s footprint in the fast-growing Whitefield area of Bengaluru. This acquisition includes an operational hotel with 142 rooms, […]
In a monumental move, OYO is set to acquire G6 Hospitality, the parent company of Motel 6 and Studio 6, from Blackstone Real Estate in a $525 million all-cash deal. This acquisition, expected to close in late 2024, will significantly bolster OYO’s presence in the U.S. market, a region where the company has seen steady […]
Luxury hotel group Leela Palaces, Hotels and Resorts, owned by Canadian investment giant Brookfield Asset Management, is gearing up for a groundbreaking Rs 5,000 crore Initial Public Offering (IPO), set to be the largest ever in India’s hospitality sector. Brookfield’s bold move, expected to raise the company’s valuation to approximately $2.5 billion (about Rs 21,000 […]
Wynn Resorts, the operator of Wynn Las Vegas, has agreed to forfeit $130 million to the U.S. Department of Justice (DOJ) to resolve a long-standing investigation into alleged illicit financial transactions involving foreign patrons at its Las Vegas property. The forfeiture, part of a non-prosecution agreement, is considered the largest settlement of its kind for […]
Hyatt Hotels Corporation (NYSE: H) has announced its intent to acquire Standard International, the parent company of The Standard and Bunkhouse Hotels, marking a significant expansion in its lifestyle hospitality segment. This strategic move, anticipated to close later this year pending regulatory approvals, is set to amplify Hyatt’s footprint in the premium lifestyle market, further […]
In a major development for the hospitality industry, Brigade Group, a leading property developer in India, and Accor, a global hospitality giant, have officially opened the ibis Styles Mysuru on KRS Road. This new addition to Mysuru’s hotel landscape marks the fourth collaboration between Brigade Group and Accor, and the second ibis Styles hotel in […]
JLL Hotels & Hospitality Group has successfully secured a substantial $620 million in acquisition financing for the Hyatt Regency Orlando, a prestigious AAA Four Diamond resort in Orlando, Florida. This financing, arranged through a floating-rate, five-year loan, was facilitated by prominent financial institutions including Wells Fargo, Bank of America, and Deutsche Bank. The transaction involved […]