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By Author
Published on October 6, 2023
Hong Kong lights up with excitement every year during the Mid-Autumn Festival. This cherished celebration, also known as the Mooncake Festival, brings families together to enjoy age-old traditions and create new memories under the full moon.
A Festival of Gratitude and Unity
The Mid-Autumn Festival is celebrated on the 15th day of the eighth lunar month, which usually falls in September or October. Hong Kongers use this time to express gratitude for the harvest and pray for luck. Families eagerly reunite after time spent apart, making it a special occasion.
Mooncakes: A Symbol of Unity
Mooncakes are the festival's stars. These round pastries symbolize unity and are typically filled with lotus seed paste and salted egg yolk. Over time, innovative flavors like ice-cream mooncakes and snow skin mooncakes have emerged.
Lanterns That Illuminate the Night
Traditional paper lanterns add to the festival's charm. They come in various shapes and sizes and can be found in parks, streets, and along the waterfront. Some lanterns even feature modern LED lights, creating mesmerizing displays.
The Fire Dragon Dance: A Dazzling Tradition
Hong Kong boasts a unique tradition—the Fire Dragon Dance. This captivating dance, over a century old, features a 200-foot-long dragon adorned with thousands of burning sticks of incense. It's a vivid display of culture and heritage.
Moon Gazing and Lantern Riddles
The full moon serves as a backdrop for moon gazing, a time for reflection and inspiration. Families and friends often gather at parks like Victoria Park to enjoy this serene moment. Lantern riddles, attached to colorful lanterns, challenge participants with their wisdom and good fortune messages.
Delightful Mid-Autumn Delicacies
The festival is incomplete without indulging in mooncakes, but it's also a time for enjoying fruits with auspicious meanings. Star fruit and pomelo are popular choices. Families often end their reunion meals with glutinous rice balls, symbolizing togetherness.
Celebrating Resilience and Unity
In recent years, the festival has taken on new significance, symbolizing resilience and unity, particularly after the challenges posed by the pandemic. It's a testament to Hong Kong's unwavering spirit.
As the lanterns light up the city and families come together, the Mid-Autumn Festival in Hong Kong continues to be a cherished tradition—a time to express gratitude, celebrate unity, and look to the bright future under the moon's gentle glow.
Image Source - Hong Kong Tourism Board
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By Manu Vardhan Kannan
Published on January 17, 2025
JLL's Capital Markets group has announced the successful arrangement of a $300 million refinancing for the Omni Nashville Hotel, an 800-key luxury property located in the heart of downtown Nashville. The refinancing was secured on behalf of TRT Holdings, Inc., the hotel’s parent company, through a fixed-rate, seven-year loan facilitated by a U.S.-based insurance company and AllianceBernstein Commercial Real Estate Debt.
A Prime Destination
The Omni Nashville Hotel, a 21-story property seamlessly integrated with the Country Music Hall of Fame and Museum, is celebrated for its prime location at 250 Rep. John Lewis Way South. Opened in 2013, the hotel offers over 80,000 square feet of meeting space, including Nashville's largest hotel ballroom at 23,800 square feet. Its amenities include multiple dining options such as Bob's Steak & Chop House, a rooftop pool, the Mokara spa, and a state-of-the-art fitness center.
Strategic Importance
The property is positioned across from the Music City Center convention facility, which spans 2.1 million square feet. Nashville, one of the top-performing lodging markets in the U.S., draws over 14 million annual visitors, bolstered by both booming tourism and a growing corporate sector.
Expert Insights
Commenting on the financing deal, Kevin Davis, Hotels & Hospitality Group Americas CEO at JLL, said, “The Omni Nashville exemplifies the strength of Nashville's hospitality market, consistently ranking at the top of its competitive set for RevPAR. With its irreplaceable location next to Music City Center and high-quality amenities, the property is well-positioned to continue its market-leading performance as Nashville experiences tremendous growth in both leisure and business travel demand.”
About the Stakeholders
TRT Holdings, Inc., the Dallas-based parent company of Omni Hotels & Resorts, has been a leader in hospitality and real estate since its founding in 1989. AllianceBernstein (AB), a global investment management firm, played an advisory role in securing the loan through Equitable Financial Life Insurance Company.
JLL’s Market Expertise
JLL, a Fortune 500 company and a global leader in commercial real estate and investment management, has a proven track record in delivering tailored capital solutions. With a team of over 3,000 specialists worldwide, JLL continues to shape the future of real estate.
This $300 million refinancing underscores the robust growth trajectory of Nashville’s hospitality sector and reaffirms the Omni Nashville Hotel’s position as a key player in the market.
Published on January 16, 2025
Zoomcar Holdings, Inc. has achieved a milestone in its financial performance, reporting its highest-ever unaudited and unreviewed contribution profit for December 2024. The provisional financials for the month indicate a profit of USD 494,506, marking a significant achievement in covering operational costs in India, the company's sole market.
This accomplishment underscores Zoomcar's focus on operational excellence and sustainable growth, driven by a strong surge in consumer demand. Compared to December 2023, bookings grew by 17 percent, showcasing the increasing popularity of Zoomcar’s car-sharing platform among Hosts and Guests.
Consistent Financial Turnaround
Zoomcar’s financial trajectory over the past year reflects remarkable improvement. Key milestones include:
A contribution profit of USD 0.46 million (20 percent) in Q1 FY 2024-25, recovering from a loss of USD 1.2 million (-45 percent) in Q1 FY 2023-24.
A record quarterly contribution profit of USD 1.21 million (54 percent of revenue) in Q2 FY 2024-25, a stark improvement from a loss of USD 0.12 million (-5 percent) in Q2 FY 2023-24.
December 2024’s unaudited and unreviewed profit continues this streak, with four consecutive quarters of contribution profit growth.
CEO's Remarks on the Milestone
Hiroshi Nishijima, interim CEO of Zoomcar, highlighted the significance of this achievement, stating, “Achieving a record contribution profit in December 2024, our peak seasonal demand month, and covering operational costs reflect that our business fundamentals are on track. By prioritizing customer experience, we’ve cultivated an organic flywheel of growth through repeat bookings and Host retention while minimizing marketing and discount spend.”
He further added, “With improved profitability, we are committed to reinvesting in enhancing the customer journey and launching innovative products that add value to our community.”
The Path Ahead
Zoomcar’s record-breaking performance highlights its robust business model and growing consumer appeal. As India continues to embrace car-sharing solutions, the company is poised to capitalize on its momentum, paving the way for sustainable and profitable growth in the automotive sharing space.
A solid waste treatment facility established by the Goa Waste Management Corporation (GWMC) in Saligao village is proving to be a game-changer for the state's tourism belt, effectively processing 250 tonnes of waste every day. Since its inception in 2016, the facility has become a key player in both managing waste and generating energy from it, benefiting the state’s environment and tourism sector.
According to Dr. Sharad Kale, advisor to the Goa government on solid waste management, the plant is an exceptional example of waste-to-energy innovation. “The plant processes 250 tonnes of waste daily, including 125 metric tonnes of dry waste and an equal amount of wet waste sourced from restaurants and households around North Goa,” Kale explained.
The plant's output is impressive, producing 1.02 megawatts of electricity and 7,000 cubic metres of cooking gas daily from the biodegradable waste. These by-products are critical in powering the facility and supporting local energy needs. Additionally, the plant produces 20-30 tonnes of manure each day, which is distributed to nearby panchayats for gardening and forestation projects.
Goa’s Path to Sustainability
Under the guidance of Goa Chief Minister Pramod Sawant and Prime Minister Narendra Modi, the waste management facility is helping the state progress towards its vision of "zero waste." The plant has integrated recycling processes for dry waste, including plastic and glass bottles. “Around 28-30% of the dry waste is recycled, with plastic bottles shredded into fine powder and sent for manufacturing, while discarded glass is sent to Aurangabad for recycling,” Kale noted.
With its impressive ability to produce 22 by-products from the dry waste, the plant has set a record in waste management. The vision for the future is clear: to make Goa a leader in waste management and sustainability.
Meeting Seasonal Demands
The facility operates year-round, with a surge in activity during the festive season. The plant’s capacity is stretched to process 150-200 tonnes of waste during peak times, ensuring that the waste is treated within 24 hours to maintain cleanliness and sustainability in the region.
Gargi Raote, head of the treatment plant, shared that the electricity generated from the wet waste is used to power 35 units at the facility. “Fifty percent of the electricity is used for plant operations, and the remaining is supplied to the state electricity department,” Raote added.
The Goa Waste Management Corporation’s initiative is an inspiring example of how waste can be effectively managed while contributing to energy production and sustainability. This facility is not just managing waste; it is powering Goa’s tourism industry and supporting the local community in a more sustainable way.
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