Tag Archives: hospitality

Hospitality giant Eraaya Lifespaces has announced a significant milestone in their acquisition of US-based Ebix Inc., reporting a payment of ₹101 crore. With the latest remittance of US$12 million (approximately ₹101 crore) in July 2024, Eraaya Lifespaces Limited is excited to share progress on the acquisition. So far, a total of US$21.75 million (around ₹181 crore) has been paid towards securing Ebix Inc. Moreover, a substantial payment of US$35 million (approximately ₹293 crore) is scheduled for completion by the end of July 2024. This acquisition entails the Consortium securing 100 per cent equity in Ebix, encompassing its assets and certain liabilities across its global subsidiaries, as detailed in a stock exchange filing. The bid submitted by the consortium led by Eraaya Lifespaces had been approved and accepted as the highest and best bid for Ebix and declared as the winner following the auction process overseen by the U.S. Bankruptcy Court at an ascribed enterprise value of US$361 Million (₹3,009 crores approximately). The acquisition will be effectuated through Ebix’s Plan of Reorganization proposed in its Chapter 11 proceedings, subject to ongoing negotiations among the consortium, Ebix, and Ebix’s creditors and other stakeholders. The U.S. Bankruptcy Court had allowed the Plan of Reorganization to be sent to creditors for voting and scheduled a hearing to consider approval of the plan.

The forthcoming budget offers a vital chance for the hospitality sector as we believe this is the Golden period for Indian Tourism Industry in case we are able to make the Best use of this opportunity. We request the government to announce industry status for hotels and lower the GST rate from 18% to 12%, bringing it in line with international standards for the tourism industry. This combined advantage will stimulate investments, enhance tourism, and generate job opportunities. The much needed industry status will enable much easier access to cheaper loans for expansion and development. There should be a provision for single window clearance for approvals, a long standing demand from the hotel industry. Government can also lease old properties such as Havelis and hotels for long term, to benefit tourism industry through Public Private Partnership (PPP) model.  Given the industry’s substantial contribution to India’s GDP and foreign exchange earnings, we believe these steps will drive economic growth and position India as a more competitive tourism destination.

Mckinsey report revealed, home-sharing continues to position itself as better than traditional hotels, segment has grown from 10-14% of booking value between 2017 and 2023. Home-sharing companies have also become a key distribution channel for smaller hotels, as they can offer more control over inventory and lower fees than other channels.

Global hotel owner and operator Minor Hotels has appointed Puneet Dhawan as Head of Asia as the group plots its growth in Asia and India. From July, Dhawan will be responsible for the performance of all Minor Hotels properties in Asia, working in close collaboration with the Minor Hotels senior leadership team and will report to Minor Hotels CEO Dillip Rajakarier. Dhawan, a seasoned professional with a 30-year hospitality career spanning Asia, Europe, and the Middle East, brings a wealth of experience to his new role. His most recent role as Senior Vice President of Operations – India & South Asia at Accor saw him lead the group’s business development, owner management, hotel operations and commercial team, driving Accor’s growth in the region. Notably, he oversaw the opening of the first Raffles hotel in India. His 25-year tenure at Accor also included time as the group’s Vice President of Operations, Middle East, and several General Manager roles. Dhawan’s journey in the hospitality industry began with the Mandarin Oriental Hotel Group, where he held positions at its properties in the Philippines and Hong Kong. Dhawan holds a Bachelor of Science in Hospitality Management from the University of Massachusetts Amherst. He will be based in the group’s Bangkok Corporate Office when he joins Minor Hotels in July. Dillip Rajakarier, CEO of Minor Hotels and Group CEO of Minor International, commented, “We are excited to welcome Puneet to the Minor Hotels family. His operational experience and empowering leadership will be invaluable as we work to achieve our growth ambitions in Asia and India in the coming years.” In January, Minor Hotels unveiled its target to add more than 200 new openings to its …

Talking about the growth of hospitality in India, Mark Hoplamazian, CEO, Hyatt, said, “India today is better poised for growth in the hospitality sector than the rest of the world, and that is because of the tremendous warmth and engagement of its people. The experience people get in India when they disembark from the plane and start exploring the country is what sets the country apart.”

Crowne Plaza New Delhi Mayur Vihar proudly delcare the promotion of Mr. Pankaj Gupta to the esteemed role of Area General Manager within IHG Hotels & Resorts -South West Asia. In his new capacity, Mr. Gupta will responsible 8 operating and 2 pre opening hotels including the General Manager role at Crowne Plaza New Delhi Mayur Vihar. With over two decades of hospitality experience, Mr. Gupta has consistently exemplified leadership and operational excellence. Previously, as the General Manager of Crowne Plaza Mayur Vihar, he spearheaded revenue growth, operational efficiency, and guest satisfaction initiatives, setting new industry benchmarks. Mr. Gupta expressed, “Assuming the role of Area General Manager is both an honour and a responsibility. I am deeply grateful to the IHG leadership team for entrusting me with this pivotal role. My vision is to leverage the unique strengths of each market, capitalize on emerging trends, and create synergies across properties to drive sales & marketing strategies, operational excellence, and, above all, unparalleled guest experiences. Together, we will strengthen IHG’s position as a leader in the hospitality sector and foster unique collaborations with industry partners.” Mr. Gupta’s exceptional leadership has garnered widespread recognition, including the number 1 position in Guest Love within the South West Asia region in 2023, the GM of the Year 2023 award at the BW Hotelier Awards, and the Best Business Hotel 2023 accolade at the HVS ANAROCK Showcase Hospitality and Travel Awards. Additionally, he was honoured with the prestigious IMEA GM Conference Innovation Impact Award in 2023 and the GM Par Excellence Award by HT City in the same year.

Amitabh Kant, G20 Sherpa, said, “By 2035, India is projected to provide 30 per cent of the world’s skilled manpower, a number of our experts in various sectors like hospitality will emerge from India. It is not just about producing manpower; it is about producing the best talent.” He was speaking at WTTCII event.

Namaste Dwaar Resort is a gateway to India’s rich rural culture and a wellness destination offering authentic ayurvedic treatments and programs. Just under a two-hour drive from New Delhi, Namaste Dwaar is located amidst the serene countryside in Mansurpur (Uttar Pradesh), on the Delhi-Haridwar highway and has recently appointed Amor Hospitality as its Hospitality Consultant & Service Provider for Sales & Marketing, Promotions & Experiences. The retreat, through its tie-up with Amor Hospitality, aims to significantly increase business through travel agents/tour operators’ distribution channels and expects to attract guests from all potential travel segments while crafting exclusive promotions, seamless booking experiences, personalized events and unmatched customer service. Erika Farina, Director, Namaste Dwaar Resort said, “As an eco-friendly property and wellness destination, Namaste Dwaar combines ancient Indian natural healing therapies with rural life experiences; this unique getaway, with its numerous activities and attractions, has programs catering to enjoyment of guests pan India and from international markets as well. Our tie-up with Amor Hospitality is a step towards spreading our client base and opening doors to endless possibilities and unforgettable experiences”. Some of the authentic Indian wellness therapies that the retreat offers include: Ayurveda, Vedic Acupressure, Naturopathy and Yoga. Spread over twelve acres of farmlands, Namaste Dwaar Resort is a perfect sanctuary for a short weekend getaway and for those seeking to achieve their wellness goals amidst a peaceful environment. “Namaste Dwaar Resort was conceptualized by the renowned Architect Pradeep Sachdeva, the mastermind behind some of India’s most inspiring architectural works including the Garden of Five Senses and the famous Dilli Haat in New Delhi. The property offers you insights into the older building styles of Uttar Pradesh, Haryana and Rajasthan where …

Paul Wilson, Executive Vice President of Cross Hotels & Resorts, stated, “Indians comprise about 25-30% of the total guests for Cross Hotels & Resorts. We aim to lead in this market, understanding it better than anyone else. India’s growth shows no signs of slowing, and neither does ours.”

Nishad Wijetunga, President, SLAITO said, “Sri Lanka has lost M!CE tourists to competitors like Thailand and India on minimum room rates as higher standard rooms were available in other countries at lower prices. However, we managed to retain a majority of bookings made before the minimum room rates were imposed last year.”