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By Author
Published on December 27, 2023
As 2023 winds down, it's time to look back at a year that was both challenging and rewarding for the hotel industry. Despite some financial turbulence, the sector saw its fair share of success stories, with certain companies not just surviving but thriving.
The Year in Review: A Mixed Bag for Hotels
The hotel industry globally maintained a steady ship with an occupancy rate hovering near 63%. This was a slight decrease from 2019's 66%, but not too shabby considering the circumstances. Average Daily Rates (ADR) inched up by about 5%, touching around $155 USD.
Interestingly, group room nights bounced back impressively, somewhat offsetting the decline in domestic leisure travel. However, the transactions market hit a bit of a cold patch. The surge in federal funds rate, from less than 1% in early 2022 to 5.25-5.5% by late summer 2023, alongside some early-year bank failures, shook the investment world. This led to a 35% drop in transaction volume compared to the previous year.
Regional Insights
United States: The U.S. saw a bit of softening in hotel fundamentals during the second quarter, as more Americans traveled abroad and international arrivals slowly recovered. However, modest growth in Revenue per Available Room (RevPAR) is expected in late 2023 and early 2024, thanks to improved business and group travel.
Caribbean: The region kept its momentum, with significant increases in visitor arrivals. New hotel projects are on the horizon for 2024, signaling investor confidence in the Caribbean market.
Europe: Driven by pent-up consumer demand, Europe's hotel sector showed signs of recovery, especially in the luxury and upscale segments. However, investment remained cautious due to higher debt finance costs.
Asia-Pacific: Domestic tourism made a comeback, but international visitors were slower to return. The Chinese market played a crucial role in boosting Hotel ADR in most areas.
2023's Standout Performers
Marriott International Inc.: Leading the pack with a 22% year-over-year revenue increase to $23.541 billion, Marriott's diverse portfolio played a significant role in its resilience.
MGM Resorts International: Garnering $15.38 billion in revenue, a 22.15% increase, MGM benefited from its combination of resort and gambling services.
Caesars Entertainment Corp: Marking an 8.81% increase in revenue to $11.524 billion, Caesars' strategic expansion and entertainment offerings paid off.
Hilton Worldwide Holdings: Hilton's global presence and diverse brands helped it achieve a 23.33% revenue jump to $10.070 billion.
Hyatt Hotels Corp: With a focus on customer experience and expansion, Hyatt saw a 22.61% increase in revenue, reaching $6.595 billion.
Las Vegas Sands Corp: A staggering 114.3% increase in revenue to $8.574 billion, thanks to its entertainment diversification.
Galaxy Entertainment Group: A monumental 374% jump in net revenue to $9.7 billion, Galaxy leveraged its focus on the Asian market.
Looking Ahead to 2024
The outlook for 2024 in the hotel industry is cautiously optimistic. A slow start is expected, but momentum should build towards a strong finish. The U.S. might dodge a recession, and with potential Fed rate cuts, transaction activity could see an uptick in the hotel sector and beyond. The key will be adaptability and strategic positioning in an ever-evolving market landscape.
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By Manu Vardhan Kannan
Published on December 25, 2025
Indian Hotels Company Limited (IHCL), India’s largest hospitality company, has announced strategic marketing collaborations for its loyalty programme, Taj InnerCircle – NeuPass, with Shangri-La Circle, the loyalty platform of Shangri-La Hotels and Resorts, and MyMillennium, the loyalty programme of Millennium Hotels & Resorts. These collaborations aim to enhance global access and offer enriched travel and stay benefits for members across participating hotels worldwide.
Commenting on the development, Mr. Puneet Chhatwal, Managing Director & Chief Executive Officer, IHCL, said that Taj joining hands with Shangri-La and Millennium unlocks powerful synergies through a global loyalty network. He noted that the addition of these two partners will create a seamless experience for members by extending exclusive reciprocal benefits, reinforcing IHCL’s focus on shaping the future of travel through meaningful alliances that deliver long-term value to guests and partners.
Under the collaborations, members of Taj InnerCircle – NeuPass, Shangri-La Circle, and MyMillennium will gain access to each other’s extensive global portfolios. The partnerships offer reciprocal privileges, including preferred rates across participating hotels worldwide, enabled through authenticated journeys across respective brand platforms, strengthening exclusivity and ease of access for loyal travellers.
Shangri-La Group, established in 1971 and a subsidiary of Kerry Properties, operates 105 luxury hotels across 78 destinations, offering more than 40,000 rooms across Africa, Asia, Europe, the Middle East, North America, and Oceania. Shangri-La Circle extends beyond a traditional hotel loyalty programme, positioning itself as a contemporary travel and lifestyle platform focused on delivering personalised and meaningful experiences to its members.
Millennium Hotels & Resorts, recognised as Singapore’s Most Valuable Hotel Brand by Brand Finance in 2025 for the second consecutive year, continues to strengthen its global presence. Its award-winning loyalty programme, MyMillennium, combines the brand’s international footprint with a compelling and value-driven loyalty proposition for frequent travellers.
IHCL’s iconic brand Taj, recognised as the World’s Strongest Hotel Brand for the fourth time and India’s Strongest Brand for the fifth time by Brand Finance in 2025, offers a diverse portfolio of experiences ranging from grand palaces and landmark city hotels to wildlife lodges, beach resorts, and luxury serviced residences. The brand currently operates over 130 hotels across 14 countries, reinforcing its position as a global leader in hospitality.
By Hariharan U
This Christmas, Hyatt Centric MG Road Bangalore brings the joy of the season to life with a thoughtfully curated range of festive hampers and classic holiday treats. Designed with warmth, care, and a sense of togetherness, these Christmas offerings are perfect for sharing moments of cheer with family, friends, and colleagues.
Each festive hamper blends timeless Christmas favourites with indulgent sweet treats, capturing the essence of celebration and gratitude that defines the holiday season. From traditional festive bakes and rich plum delights to handcrafted chocolates and charming Christmas accents, every element has been carefully chosen to add comfort and joy to the festivities.
Guests can choose from two specially curated Christmas hampers. Christmas Hamper 1, offers a luxurious assortment that includes Panettone, Stollen, Dundee Cake, Plum Pudding, Plum Cake, Ginger Cookies, Mince Pie, Chocolate Santa, Almond Hazelnut Praline, Liquor Chocolates, a bottle of wine, and festive Christmas decorations. It is ideal for those looking to gift something truly indulgent.
Christmas Hamper 2, features a classic festive selection including Panettone, Stollen, Plum Pudding, Plum Cake, Ginger Cookies, Mince Pie, Pistachio Nougat, Chocolate Santa, and Christmas decorations, a perfect blend of tradition and celebration.
In addition to the hampers, Hyatt Centric MG Road Bangalore is also offering a wide range of Christmas goodies available à la carte, allowing guests to curate their own festive selections. Highlights include Stollen, Dundee Cup Cakes, Panettone, Plum Pudding, Plum Cake, Mince Pie, Pistachio Nougat, Almond Hazelnut Praline, Red Velvet Cookies, Ginger Cookies, decorative Christmas chocolate bars, Stuffed Santa chocolates, and Madeleines.
Whether it’s for personal celebrations, festive hosting, or thoughtful corporate gifting, these Christmas delights are crafted to add a touch of magic and sweetness to the season. Hyatt Centric MG Road Bangalore hopes these festive offerings fill homes with warmth, joy, and the unmistakable spirit of Christmas.
To place orders for Christmas hampers, festive goodies, or for bulk and corporate gifting enquiries, guests can contact +91 6370716589.
Popeyes, the iconic Louisiana-born fried chicken brand, has officially launched its first airport outlet at Mumbai’s Chhatrapati Shivaji Maharaj International Airport, Terminal 2. The opening marks a strategic step in Popeyes’ expansion across India following its debut in Mumbai earlier this year in August.
The Mumbai T2 store has been launched in partnership with AMRL, reflecting Popeyes’ focus on premium, high-footfall locations and its intent to bring globally loved flavours to travellers. Visitors at Terminal 2 can now enjoy signature offerings such as the Chicken Sandwich, Signature Fried Chicken, Boneless Chicken, and the Hot & Messy range, specially curated for the Indian palate. Staying true to its Louisiana Cajun roots, all chicken is fresh, hand-battered, hand-breaded, and marinated for 12 hours, ensuring bold and distinctive flavours in every bite.
Speaking on the expansion, Sameer Khetarpal, CEO & MD of Jubilant FoodWorks Limited, said, “Airports have become critical touchpoints for brand discovery and repeat engagement. Launching at Mumbai T2 allows us to reach a high-intent, high-frequency audience and take Popeyes beyond the high street. After a strong response in Mumbai since August, this opening is a deliberate move to scale the brand in premium travel-led locations.”
Highlighting the importance of F&B in the airport experience, a spokesperson from AMRL added, “The launch of Popeyes at CSMIA marks a significant milestone in AMRL’s F&B growth. Airports are evolving into lifestyle destinations, and partnering with a globally iconic brand like Popeyes aligns strongly with our vision of offering world-class choices to travellers. This collaboration reflects our focus on quality, consistency, and global relevance.”
The Popeyes Mumbai T2 outlet is now open for travellers, offering both dine-in and takeaway options for domestic and international passengers, making it a must-visit destination for those seeking a taste of Louisiana at India’s busiest airport.
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