India's Budget 2024 Promotes Tourism with Interest-Free Loans and More

India's Budget 2024 Promotes Tourism with Interest-Free Loans and More

By Author

Published on February 3, 2024

The recently unveiled Interim Budget for 2024-2025 holds promising prospects for India's tourism sector. Finance Minister Nirmala Sitharaman's presentation outlined key measures to foster domestic tourism, encourage entrepreneurship, and elevate India's standing on the global travel map.

In a strategic move, the government plans to provide long-term interest-free loans to states, emphasizing comprehensive development of iconic tourist centers. The Minister's focus on areas like Lakshadweep and spiritual tourism reflects a concerted effort to tap into diverse travel experiences.

The budget signals a substantial focus on domestic tourism, with an emphasis on port connectivity, tourism infrastructure, and amenities on islands like Lakshadweep. The goal is not only to boost tourism revenue but also to generate employment opportunities within the country.

While corporate tax reduction from 30% to 22% took center stage, the budget also underscored support for startups. Although no major policy changes were announced, the government's commitment to fostering entrepreneurship in the tourism sector remains evident.

The successful organization of G20 meetings in multiple locations showcased India's diversity and economic strength globally. The Minister highlighted the country's appeal as a destination for business and conference tourism, emphasizing the importance of Meetings, Incentives, Conferences, and Exhibitions (MICE) tourism.

Sitharaman recognized the potential of spiritual tourism in providing opportunities for local entrepreneurs. The recent influx of visitors to Ayodhya, Varanasi, and Ujjain underscores the growing interest in spiritual destinations.

The introduction of a framework for rating iconic tourist destinations based on facility quality is a notable move. States will receive long-term interest-free loans for developing these destinations, contributing to their overall enhancement and global recognition.

The Interim Budget for 2024-2025 unveils a multi-faceted approach to boost India's tourism sector. From interest-free loans for states to comprehensive development plans for iconic tourist centers, the government aims to elevate the nation's tourism landscape. The emphasis on diversity, entrepreneurship, and global recognition sets the stage for an exciting future for India's tourism industry.


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.

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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.

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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."

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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.

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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.

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