Indian Hospitality Sector Witnesses Surge in Investments, Records Significant Growth

Indian Hospitality Sector Witnesses Surge in Investments, Records Significant Growth

By Nishang Narayan

Published on April 4, 2024

In a positive turn of events for the Indian hospitality sector, investments surged to USD 401 million in FY23, marking a remarkable four-fold increase from the previous year. This notable growth, as reported by JLL, signals promising opportunities and a robust outlook for the industry.

The 'Hotel Investment Trends - India 2023' report by JLL unveiled encouraging trends and insights into the hospitality sector's performance. Notably, the sector witnessed a significant uptick in hotel transactions, with a record number of 22 transactions recorded, the highest in a decade. Furthermore, three hotel companies made their debut on the stock market through IPOs, indicating growing investor interest and confidence in the sector.

image

High net worth individuals (HNIs) and institutional capital emerged as major contributors to hotel investments, accounting for 73% of the total investments. Real estate developers also played a significant role, constituting 27% of investments, followed by owner-operators at 11%.

One of the noteworthy findings of the report was the increasing focus on Tier-2 cities for hotel development activities, which accounted for 54% of total signings. This shift underscores the expanding opportunities and untapped potential in non-metro areas, reflecting a broader trend of decentralisation and diversification within the hospitality sector.

image

Overall, the hospitality sector's performance in FY23 reflects resilience, adaptability, and a promising trajectory of growth. With record hotel signings, openings, and a surge in investments, the industry is poised for continued expansion and success in the coming years.


The Bluffs Grand Ho Tram Celebrates Best Golf Course Win at Global Tourism Awards

The Bluffs Grand Ho Tram Celebrates Best Golf Course Win at Global Tourism Awards

By Nithyakala Neelakandan

Published on August 24, 2024

The Bluffs Grand Ho Tram has been awarded the prestigious "Best Golf Course International" title at the Global Tourism Awards, presented by Travel World Online. This significant achievement highlights the course’s dedication to offering an exceptional golfing experience amidst some of the world’s most stunning landscapes.

Known for its unique design, pristine course conditions, and natural beauty, The Bluffs Grand Ho Tram has consistently been a favorite among golf enthusiasts. This international recognition is a testament to the hard work and passion of the entire team, who have continually strived to create an unmatched golfing environment. The course’s commitment to excellence ensures that every round played at The Bluffs is both memorable and extraordinary.

image

The Bluffs Grand Ho Tram also extends its heartfelt thanks to its guests, whose support and enthusiasm drive the team to maintain such high standards. The resort is excited to continue welcoming golfers from around the globe to experience its award-winning greens and looks forward to many more outstanding rounds of golf in the future.

Located at the Grand Ho Tram in Vietnam, The Bluffs is celebrated not only for its world-class golf course but also for its luxurious amenities and breathtaking scenery. This award solidifies its position as a top destination for golf lovers worldwide.


Sterling Holiday Resorts Achieves Record Q1 Revenue of ₹126 Crore

Sterling Holiday Resorts Achieves Record Q1 Revenue of ₹126 Crore

By Nithyakala Neelakandan

Published on August 6, 2024

Sterling Holiday Resorts, a leading player in India's leisure hospitality sector, has reported its highest-ever Q1 revenue of ₹126 crore for FY25. This figure marks a 9% year-on-year growth despite various challenges faced during the quarter, such as a nationwide heatwave, election-related travel delays, and fewer wedding dates.

The company’s EBITDA margin stood at a robust 34%, consistent with industry benchmarks, although slightly lower than the previous year due to the opening of five new resorts in Rajasthan, three of which are in Udaipur and still in their ramp-up phase. Sterling has maintained profitability for 16 consecutive quarters.

Sterling’s expansion strategy continues to drive growth, with the company crossing the milestone of 50 resorts, thanks to the addition of two new locations in Dehradun and Udaipur during the quarter. In total, Sterling has opened nine new resorts since Q1 FY24, underscoring its commitment to a balanced portfolio and regional growth.

CEO and MD Vikram Lalvani commented, “Despite numerous headwinds in the first quarter, Sterling delivered its highest ever Q1 revenues and a healthy EBITDA margin, while also ramping up capacity with new resorts. With long term demand trends continuing to be strong, Sterling is poised for sustained growth through asset-right, balanced portfolio growth across regions. Based on our expansion plans of 20 additional resorts and 1,000 keys in the next 12 to 18 months, in phases, we are also investing in building key talent to cater to this growth.”

Sterling’s achievements have been recognized on platforms like TripAdvisor, where 19 of its resorts are ranked No. 1 in their locations, with 65% of its resorts in the Top 5 overall. Additionally, Sterling Puri received the Best Resort for Destination Weddings (East) award at the ET MICE & Wedding Tourism Awards 2024, highlighting the brand’s growing influence in the hospitality industry.


Secret Ingredient to Revamp Culinary Concepts at Le Meridien New Delhi

Secret Ingredient to Revamp Culinary Concepts at Le Meridien New Delhi

By Nithyakala Neelakandan

Published on August 1, 2024

Secret Ingredient, a leading consulting firm in the restaurant and hospitality sector, has been selected by Le Meridien New Delhi to re-conceptualize and develop the menu for its rooftop restaurant, Le Belvedere. This collaboration aims to elevate the dining experience at the iconic establishment, known for its panoramic city views and upscale Chinese cuisine.

Le Belvedere will benefit from Secret Ingredient’s expertise in food and beverage (F&B) solutions, including menu innovation and technical management. The consultancy’s role will be to ensure that the restaurant offers high-quality dining experiences that appeal to a wide range of tastes.

image

Sid Mathur, Founder and Director of Advisory & Strategy at Secret Ingredient, expressed his excitement about the partnership: "We are thrilled to collaborate and work with the talented teams of Le Belvedere to elevate potential F&B offerings. Our aim is to bring innovative and effective solutions that enhance the dining experiences at Le Belvedere."

Tarun Thakral, Executive Director at Le Meridien New Delhi, added, "As a hotel committed to exposing the curious and creative-minded traveller to unexpected and engaging experiences, we are thrilled to partner with Secret Ingredient to elevate our culinary offerings. This collaboration will undoubtedly unlock a new dimension of discovery for our guests, making their experience truly unforgettable."

image

Kula Naidu, Director of Conceptualization & Branding at Secret Ingredient, emphasized the significance of this partnership in their broader mission to redefine food and beverage concepts in India. "This partnership marks a significant step in our mission to redefine food and beverage concepts in India. We look forward to applying our holistic approach to Le Belvedere and creating outstanding culinary experiences. Our extensive experience and innovative approach will undoubtedly contribute to setting new standards in the industry," Naidu stated.

image

Secret Ingredient is known for its comprehensive consulting services, including kitchen planning, recipe development, staff training, menu revamping, and brand conceptualization. The firm has worked with several high-profile brands and cloud kitchens across India, contributing to their success with innovative strategies and hands-on expertise.

Some of Secret Ingredient’s notable projects include collaborations with Khyber Hotel Gulmarg, The Grand Dragon Ladakh, Trident’s Kaansa Lyrah, and several other renowned establishments.

Stay up-to-date with the latest Hospitality news and trends in the Hospitality industry!

Subscribe to Hospitality news e-magazine for free and never miss an issue.

By clicking subscribe for free you agree to the Terms & Conditions and acknowledge our Privacy Policy.