GAP Group has commenced work on Hyatt Place Dholera, a proposed five-star hotel being developed in partnership with Hyatt in Gujarat's Dholera Special Investment Region (SIR). The upcoming property will feature 200 rooms, including 20 suites, bringing an internationally recognised hospitality brand to the developing industrial region.

The groundbreaking ceremony was performed by former Gujarat Cabinet Minister Bhupendra Singh Chudasama and Kalubhai Dabhi, MLA from Dhandhuka. Sonale Zagade, General Manager at Hyatt Group, unveiled the hotel's finalised design, offering the first look at the upcoming development. The occasion also included a tree plantation by the dignitaries.

Gujarat Chief Minister Bhupendra Patel also visited GAP Group's Akhilam Township, where he explored the Hyatt Place Dholera site and other developments, including Avant, the coworking space and the food court. He was accompanied by Gujarat Chief Secretary M. K. Das, Chief Minister's Advisors Hasmukh Adhia and S. S. Rathore, Dholera Industrial City Development Limited (DICDL) Managing Director Kuldeep Arya, and other senior state government officials.

The hotel will spread across approximately 2.6 lakh sq. ft. of built-up area, including two basement levels, and will rise to approximately 65 metres. Its facilities will include a restaurant, banquet hall, pre-function area, business meeting facilities, swimming pool, gym, café and lounge.

The banquet and pre-function spaces, along with an outdoor lawn, will accommodate approximately 500 people. These facilities are expected to position the hotel for business meetings, conferences and social events, complementing its accommodation and leisure offerings.

Speaking on the occasion, Gopal Goswami, Chairman of GAP Group, said, “Dholera is entering an important phase of development, with several ongoing and upcoming industrial projects creating new opportunities. As business activity grows, there will be a greater need for hospitality facilities to serve investors, business travellers and other visitors. Hyatt Place Dholera is an important step in meeting this need, and we believe it will support the region’s growth in the years ahead.”

Ambrish Parajiya, Managing Director of GAP Group, said, “GAP Group has been part of Dholera’s development journey since commencing operations in 2014. As the first private developer to begin development in the Dholera Activation Zone, we have witnessed the region’s progress over the past decade. We believe that Dholera’s next phase of growth will require infrastructure that supports not only industry and commerce but also the people who will live, work and do business here. Hyatt Place Dholera is an important step in that direction. We remain confident in the region’s potential and plan to invest ₹2,500 crore in Dholera by 2030 across residential, commercial and industrial developments.”

Located along the Delhi-Mumbai Industrial Corridor (DMIC), Dholera SIR is being developed as a smart industrial city with planned infrastructure and multimodal connectivity. The Ahmedabad-Dholera Expressway and the proposed international airport are expected to improve access to the region as industrial and commercial activity expands.

As Dholera continues to develop, the demand for hospitality facilities is expected to grow alongside its industrial and commercial infrastructure. Hyatt Place Dholera aims to address this demand by bringing together accommodation, meeting spaces, dining and leisure facilities under one roof.

For GAP Group, the project forms part of its wider development plans for Dholera, complementing its residential, commercial and industrial investments. The hotel is expected to support the region's growing business travel needs while offering facilities for visitors attending meetings, conferences and social events.

The Indian Hotels Company Limited (IHCL) has reported its 18th consecutive record quarter, with consolidated revenue rising 21% year-on-year to ₹2,566 crore in Q2 FY2027. The company has also upgraded its full-year revenue growth guidance to 15–17%, supported by strong hotel performance, higher management fees and portfolio expansion.

For the quarter ended 30 September 2026, IHCL recorded EBITDA of ₹788 crore, with a margin of 30.7%, while profit after tax (PAT) increased 23% to ₹349 crore. Operating revenue grew 22%, while operating EBITDA rose 24%, accompanied by a 50-basis-point expansion in operating EBITDA margin.

The performance reflects growth across IHCL's operating portfolio, supported by higher revenue per available room (RevPAR), new hotel openings and contributions from recent acquisitions.

Domestic Demand and Portfolio Growth Drive Performance

Domestic same-store hotels recorded 25% growth in RevPAR, while management fee income also increased 25%, supported by the momentum of new hotel openings. IHCL's Select Service business reported 25% revenue growth, while recent acquisitions, including Brij and Atmantan, added to the quarter's performance.

Demand from social celebrations and meetings, incentives, conferences and exhibitions (MICE) also remains an important growth driver for the hospitality sector. With seasonally stronger quarters ahead, IHCL expects continued support from domestic travel demand, events and business generated by newly opened properties.

FY2027 Revenue Guidance Upgraded

Building on its first-half performance, IHCL has raised its consolidated revenue growth guidance for FY2027 from 12–14% to 15–17%. The company expects its hotel segment revenue to grow by 17–19%, supported by demand trends and non-like-for-like growth from new properties and portfolio additions.

The upgraded guidance signals management's confidence in sustaining growth through the remainder of the financial year. It also reflects the contribution expected from hotels added to the portfolio, alongside continued performance from existing properties.

Portfolio Reaches 670 Hotels

IHCL signed 47 hotel deals during the first half of FY2027 across its brand portfolio, taking its overall portfolio to 670 hotels. The company said it is now positioned to achieve its Accelerate 2030 target of a 700-hotel portfolio well ahead of schedule.

The expansion reflects IHCL's strategy of growing through a diversified brandscape and a mix of operating models. New signings and openings can strengthen its geographic reach and management fee income, while the performance of existing hotels remains central to revenue and margin delivery.

IHCL's latest results underline the importance of combining same-store hotel growth with expansion across brands and markets. With its full-year guidance upgraded and the portfolio nearing the 700-hotel milestone, the company is entering the second half of FY2027 with a stronger growth outlook.

Key Q2 FY2027 Highlights

• Consolidated revenue: ₹2,566 crore, up 21%

• EBITDA: ₹788 crore, up 21%

• EBITDA margin: 30.7%

• Profit after tax: ₹349 crore, up 23%

• Operating revenue growth: 22%

• Operating EBITDA growth: 24%

• Domestic same-store RevPAR growth: 25%

• First-half signings: 47 hotels

• Total portfolio: 670 hotels

• Revised FY2027 consolidated revenue growth guidance: 15–17%

• FY2027 hotel segment revenue growth guidance: 17–19%

ITC Hotels Limited has signed a management agreement for Welcomhotel by ITC Hotels Roorkee Mandawar, a 171-key property planned across 10 acres in Uttarakhand. The development will strengthen the hospitality group's presence in the region, catering to leisure travellers, wedding celebrations, social gatherings and corporate events.

Located in Mandawar, Roorkee, along the Delhi–Haridwar Highway, the upcoming hotel will benefit from connectivity to Delhi-NCR, Dehradun, Haridwar and Rishikesh. Its location also positions it as a potential gateway for travellers visiting the Char Dham pilgrimage routes and other leisure destinations across Uttarakhand.

The property will also be located near IIT Roorkee and the region's growing educational and industrial ecosystem, providing access to business and institutional travel demand alongside leisure tourism.

Facilities and Event Infrastructure

Welcomhotel Roorkee Mandawar will feature 171 rooms, suites and villas, supported by a range of dining, wellness and recreational facilities.

The planned dining offering will include an all-day dining restaurant, bar and lounge. For weddings, social functions and corporate gatherings, the property will provide 14,000 sq. ft. of indoor banquet space and more than 20,000 sq. ft. of outdoor event space.

Additional amenities will include a swimming pool, spa, fitness centre, salon and amphitheatre. The combination of accommodation, dining and event infrastructure is intended to position the hotel as a destination for celebrations and larger gatherings in the region.

ITC Hotels Strengthens Uttarakhand Presence

Commenting on the signing, Anil Chadha, Managing Director, ITC Hotels Limited, said Uttarakhand continues to emerge as an important tourism and hospitality market in North India, supported by pilgrimage, leisure and wellness demand.

He noted that the new Welcomhotel would strengthen the company's presence in the state while offering guests experiences rooted in Uttarakhand's culture, natural beauty and cuisine. He also highlighted the property's location and scale as important additions to ITC Hotels' asset-right expansion strategy.

Sanjay Bansal, Director, Mandawar Luxury Resorts Private Limited, said the project marks the company's first hospitality venture and expressed confidence that the Welcomhotel brand would bring operational expertise and an established hospitality legacy to the development.

He added that the partners aim to establish the hotel as a prominent wedding destination while contributing to Uttarakhand's tourism and economic development.

The signing adds to ITC Hotels' expansion pipeline and reflects the growing interest in hospitality developments that combine accommodation with wedding infrastructure, leisure facilities and access to regional tourism circuits.

With its location along the Delhi–Haridwar Highway, proximity to pilgrimage destinations and extensive event spaces, Welcomhotel Roorkee Mandawar is planned to serve multiple demand segments as Uttarakhand continues to develop its tourism and hospitality offerings