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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 Hariharan U
Published on December 4, 2025
Appu Hotels Ltd. has announced a major milestone with the signing of a long-term 20-year agreement with Marriott International for its flagship properties, Le Royal Méridien Chennai and Le Méridien Coimbatore. The renewed partnership reinforces Marriott’s commitment to both hotels and sets a strong, stable future for the brand in Tamil Nadu.
The agreement was signed by Mr. Avneet Singh Bhutani, Vice President – Asset Management, AP & EC, Marriott International, and Dr. Palani G. Periasamy, Chairman of Appu Hotels Ltd. The ceremony took place at Le Royal Méridien Chennai and included media interaction, a champagne toast, and a reaffirmation of Marriott’s global standards across both properties.
Strategically located between the airport and the city’s business hubs, Le Royal Méridien Chennai features 240 rooms, multiple restaurants and bars, a large banquet area for up to 1,500 guests, an outdoor pool, and a range of modern facilities.
Under the new agreement, the hotel will move into its next phase of upgrades. Planned enhancements include refreshed guest rooms, improved public areas, updated banquet spaces, and elevated service touchpoints to match Marriott’s latest global benchmarks.Le Méridien Coimbatore, A Premium Five-Star Favourite
Situated in Neelambur, Le Méridien Coimbatore offers 254 rooms and suites, contemporary interiors, multiple dining options, a spa, outdoor pool, fitness centre, and business/event facilities.
The hotel already meets Marriott’s updated global standards and continues to be a top choice among travellers. Its strong guest reviews for comfort, service, and convenience make it a preferred stay near Coimbatore Airport and key business districts. The new agreement ensures consistency and long-term stability for the property.
A United Vision for Tamilnadu: The 20-year deal signals a clear long-term strategy for both hotels. Guests can expect reliable service, upgraded amenities, and a consistent international experience across Chennai and Coimbatore. Together, the properties strengthen Appu Hotels’ position as a leading player in Tamil Nadu’s luxury hospitality landscape — catering to business travellers, leisure guests, weddings, and large-scale events.
Quotes from Leadership, Dr. Palani G. Periasamy, Chairman, Appu Hotels Ltd., said, “This 20-year agreement with Marriott International reaffirms our faith in the global standards of hospitality. With Le Méridien Coimbatore already operating as a premium facility and Le Royal Méridien Chennai entering its next phase of upgrades, we are committed to offering world-class experiences while honouring our legacy in Tamil Nadu’s hotel industry.”
Avneet Singh Bhutani, Vice President – Asset Management, AP & EC, Marriott International, added, “Our continued partnership reflects Marriott’s confidence in the vision and legacy of Appu Hotels. We look forward to delivering consistent, high-quality hospitality across both Le Méridien properties in Chennai and Coimbatore, enhancing guest experiences, and strengthening Marriott’s footprint in South India.”
About the Properties
Le Royal Méridien Chennai and Le Méridien Coimbatore, owned by Appu Hotels Ltd., operate under Marriott International’s Le Méridien brand. Both hotels blend international hospitality with regional warmth, offering luxury stays, modern amenities, business and event facilities, and dependable guest service.
By Manu Vardhan Kannan
India’s leading hospitality entrepreneurs and short-term rental professionals have announced the launch of ISTHA (Indian Short-Term Rental Host Association), the country’s first national platform dedicated to the short-term rental and alternative accommodation sector. With India seeing strong growth in homestays, boutique stays, serviced apartments, vacation rentals, guesthouses, B&Bs, and experiential accommodations, the industry has long operated without a unified structure or representation. ISTHA has been created to address this gap.
Speaking about the launch, Mr Gaurav Marwah, President of ISTHA, said that India’s short-term rental segment has expanded faster than traditional models but remains largely unorganised. He shared that ISTHA aims to build a credible and structured voice for hosts and operators with a focus on quality, compliance, and community. The platform will work to standardise documentation, hosting practices, and operational frameworks across India while helping hosts with knowledge exchange, compliance support, and collaboration.
ISTHA’s mandate includes establishing best-practice standards for hosts and property managers, engaging with authorities for regulatory clarity, providing training programmes and certification, creating state and regional chapters, encouraging collaboration with OTAs, tourism boards and technology partners, and promoting responsible hosting, safety standards and guest trust across the ecosystem. “Our mission is not just to build a network, it is to build trust. Trust between hosts, guests, and policymakers. ISTHA will champion responsible hosting, safety norms, and a consistently high-quality guest experience nationwide,” added Mr. Gaurav Marwah.
ISTHA is structured as a federal, member-driven organisation led by professionals from hospitality, tourism, real estate, and property management. The leadership team includes:
Gaurav Marwah, President: Airbnb Superhost and property management professional handling over 50 units across NCR and Jaipur, with active involvement in host representation and regulatory clarity.
Tarun Arora, Treasurer: Hospitality entrepreneur with experience in real estate and budget accommodation, overseeing financial and membership operations.
Priyanka M, General Secretary: Hospitality and operations specialist managing communications, documentation and organisational development.
Several homestay owners, B&B operators, vacation rental hosts, and property managers from Delhi NCR, Jaipur, Mumbai, Goa, Chennai, Coimbatore, Shimla, and Bengaluru have joined ISTHA during its founding phase. The association will soon introduce its first National Conclave, State Host Councils, and collaborations with OTAs, tourism boards, and technology partners.
About ISTHA (Indian Short-Term Rental Host Association)
ISTHA is a Section 8 non-profit industry body formed to represent India’s short-term rental, homestay, B&B, and alternative hospitality ecosystem. Its mission is to promote responsible hosting, support policy dialogue with authorities, provide training and resources for host development, and strengthen India’s position as a hub for flexible, experiential, and community-driven hospitality.
Arabian Delites has wrapped up 2025 with a major milestone as the brand opens its newest cloud kitchen in Vasant Kunj, marking its 6th outlet and 3rd cloud kitchen in Delhi. The launch strengthens the brand’s delivery network and brings its well-loved Middle Eastern flavours to yet another neighbourhood in the capital.
Founded in 1994 by K.D. Singh, Arabian Delites has spent over three decades building a strong reputation for flavour-forward, wholesome, and authentic Lebanese food. From shawarmas and doners to hummus bowls and falafels, the brand has remained consistent in offering meals that balance taste with a clean, health-first approach, a key reason behind its loyal customer base across Delhi-NCR.
The year 2025 proved transformational for the brand. Arabian Delites doubled its team size, upgraded tech systems for smoother operations, and expanded its store count, laying a strong foundation for efficient national growth. The menu also expanded with new offerings, including traditional Middle Eastern desserts like Baklavas, giving customers more reasons to indulge.
The new Vasant Kunj kitchen continues this momentum. Designed to serve high delivery demand without compromising quality, the outlet will offer the full menu across major food delivery platforms. Customers can enjoy signature dishes such as doners, shawarmas, rice bowls, hummus, falafels, and desserts prepared fresh in a modern cloud-kitchen format.
Speaking about the expansion, Mandeep Singh, Director, Arabian Delites, said, “We are excited to continue expanding our reach across Delhi-NCR with this launch. With a solid foundation built in 2025, we are now well-prepared to scale responsibly across India as sustainable growth is more important to us than overnight expansion.”
Looking ahead, Arabian Delites has ambitious plans. The brand aims to reach 100 outlets by 2028 and is set to double its store count in 2026, moving steadily towards a pan-India presence
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