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By Author
Published on August 7, 2023
According to a report by HVS Anarock, the hotel industry in India experienced a strong month in Jun'23, with the Revenue per Available Room (RevPAR) 27% above Jun'19 (pre-Covid) levels and 13% above Jun'22 levels. For the overall Q1FY24 (Apr-Jun'23), the industry RevPAR increased by 14% YoY, with Average Room Rates (ARRs) up by 17% YoY, but occupancies were slightly lower by 200 basis points YoY.
While the Jul-Sep'23 period is traditionally the weakest quarter due to the monsoon impact, hotels are maintaining rates 8-10% higher than the previous year. The focus now shifts to H2FY24 (Oct'23-Mar'24), where demand drivers like the G20 Summit, Men's Cricket ODI World Cup, wedding season, and international tourist arrivals recovering to pre-Covid levels are expected to lead to double-digit RevPAR growth for hotels.
The report predicts that industry-level occupancies, which recovered to 60% in CY22, are estimated to reach 66% in CY23, 68% in CY24, and 70% in CY25. Industry ARR is expected to increase from INR 6,100 in CY22 to INR 7,106 in CY23, INR 7,639 in CY24, and INR 7,983 in CY25. This translates to an estimated industry RevPAR of INR 4,690 in CY23, INR 5,194 in CY24, and INR 5,588 in CY25, reflecting a 15.8% CAGR in industry RevPAR over CY22-25. The demand-supply dynamics remain healthy for the Indian hotel sector, with incremental room supply expected to grow at a CAGR of 5-6% over CY22-26.
The report also highlights that brand signings increased by 33% YoY in CY22, with management contracts accounting for approximately 80% of the total signings by keys during the year. The medium-term outlook remains positive as both domestic and international hotel operators expand their presence in Tier 2, 3 & 4 cities by signing smaller properties.
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By Manu Vardhan Kannan
Published on September 13, 2025
Prime Minister Narendra Modi is set to inaugurate the 51.28 km-long Bairabi–Sairang railway line in Mizoram on September 13, marking a historic moment for the northeastern state. With this, Mizoram will be connected to Kolkata by train for the first time, significantly improving accessibility and connectivity.
The Kolkata–Sairang–Kolkata express train will operate three times a week, providing a vital link between the state capital and West Bengal. In addition, the Prime Minister will also flag off two more services, a weekly Rajdhani Express to Anand Vihar and a daily express train to Guwahati, officially bringing Aizawl onto the Indian railway map through its nearest station, Sairang.
Constructed at an estimated cost of ₹8,071 crore, the Bairabi–Sairang rail line is a feat of engineering that navigates Mizoram’s challenging hilly terrain. The route passes through 48 tunnels, 55 major bridges, 87 minor bridges, five road overbridges, and six road underbridges. Among the engineering highlights is a bridge that rises to a height of 114 metres, taller than Delhi’s iconic Qutub Minar by 42 metres. Adding cultural significance, the tunnels are adorned with local artworks that reflect Mizo heritage and traditions.
Officials emphasized that the project, part of the Central government’s Act East policy, is more than just an infrastructure development. It is expected to bring multiple benefits, including enhanced trade opportunities, improved inter-state travel, and a major boost to tourism in the region. “Through this project, Mizoram, long deprived of railway service due to its difficult geographical conditions, has now been gifted with direct connectivity close to Aizawl,” a railway official said.
Experts believe that this rail link will not only make travel easier but also spur socio-economic development. Raj Basu, convenor of the Association for Conservation of Tourism, noted that increased accessibility will attract more visitors from West Bengal and beyond. He highlighted Mizoram’s reputation as a safe, welcoming destination with strong women-led entrepreneurship, especially in homestays, which is drawing all-women tourist groups to the state.
Currently, Mizoram is connected to Kolkata only by air and road. With this new railway line, the “Land of Blue Mountains” is poised to emerge as a more accessible and attractive destination, paving the way for stronger tourism and cross-border opportunities.
SpiceJet has announced a significant financial settlement with Carlyle Aviation Partners, unlocking $89.5 million in fresh liquidity as part of its ongoing restructuring efforts. The agreement includes $79.6 million in cash maintenance reserves earmarked for future aircraft and engine upkeep, along with $9.9 million in maintenance credits to offset lease obligations.
In addition, certain lease obligations totaling $121.18 million will be restructured through the issuance of $50 million worth of equity shares. The settlement also includes a provision allowing a portion of proceeds, if exceeding $50 million from the share sale, to be applied toward offsetting future lease payments. Furthermore, promoters will retain the option to buy back these shares on mutually agreed terms after the statutory and contractual lock-in period.
Ajay Singh, Chairman and Managing Director of SpiceJet, said: “This agreement marks a significant milestone in our ongoing restructuring and un-grounding efforts. The support extended by Carlyle demonstrates their confidence in SpiceJet’s long-term prospects. This transaction meaningfully reduces our liabilities, strengthens our balance sheet, and positions us well for sustainable growth.”
The airline’s shares rose 3.84 percent to Rs 34.33 apiece on the BSE following the announcement. The deal comes at a critical time for SpiceJet, which has been struggling financially with more than half of its 54-aircraft fleet grounded, leaving only 21 operational. As of June-end, the airline had just Rs 333 crore in free cash, much of which has gone toward statutory dues such as GST, TDS, and provident fund payments.
SpiceJet has been working to stabilize operations by settling with lessors and restructuring certain debts into equity. The airline also completed a $24 million settlement with Credit Suisse in May 2022. Looking ahead, it plans to induct 10 Boeing 737 aircraft on short-term leases for the winter season, with discussions ongoing for further narrowbody and wide-body aircraft additions later this year.
Despite facing a historic domestic market share low of 1.9 percent and operational challenges including high cancellation rates and poor on-time performance, the Carlyle settlement provides a much-needed financial boost. The agreement is expected to help SpiceJet strengthen its position as it attempts to rebuild capacity and regain competitiveness in the Indian aviation market.
Published on September 9, 2025
Visakhapatnam is about to add a new landmark to its tourism map with the launch of India’s longest glass skywalk bridge at Kailasagiri Hills. The 55-metre-long structure, perched 862 feet above ground, will offer visitors panoramic views of the Bay of Bengal, the bustling city of Vizag, and the Eastern Ghats.
The new attraction has been designed with both thrill and safety in mind. Built with three layers of 40-mm thick tempered laminated glass imported from Germany, the bridge is supported by 40 tonnes of steel and engineered to handle up to 500 kg per square metre. The project, developed at a cost of INR 7 crore, also takes into account the region’s cyclone-prone climate, with the structure built to withstand wind speeds of up to 250 km/h.
While the bridge can technically accommodate over 100 people, entry will be carefully regulated for safety and visitor experience. Only 40 visitors will be allowed at a time, with each visit lasting between 5 and 10 minutes, ensuring everyone gets a chance to enjoy the walk.
The glass skywalk at Kailasagiri Hills surpasses Kerala’s Vagamon bridge, which measures 38 metres, making it the longest hanging glass bridge in the country. Its location was finalized after a detailed survey to ensure visitors get the most scenic vantage points.
The initiative was developed through a public-private partnership between the Visakhapatnam Metropolitan Region Development Authority (VMRDA), SSM Shipping & Logistics, and Bharat Mata Ventures, the creators of the Vagamon bridge. Alongside the glass skywalk, other attractions such as ziplining and sky cycling by RJ Adventures are also being introduced, turning Kailasagiri into a growing adventure hub.
The bridge is expected to be inaugurated soon, with final touches like lighting and safety checks underway. Once opened, it is anticipated to become one of the most popular attractions in the region, drawing tourists from across India and abroad to experience Vizag’s natural beauty from a whole new perspective.
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