Hospitality Heroes of 2023: Leading Amidst Market Shifts

Hospitality Heroes of 2023: Leading Amidst Market Shifts

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.

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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.

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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.


Mirth Bar Opens in Indiranagar, A Nostalgic Yet Modern Tribute to Old Bangalore’s Pub Culture

Mirth Bar Opens in Indiranagar, A Nostalgic Yet Modern Tribute to Old Bangalore’s Pub Culture

By Hariharan U

Published on September 12, 2025

 In a city buzzing with new-age bars and polished lounges, a fresh entrant is raising its glass to nostalgia. Mirth, a 65-seater tucked just off Indiranagar’s 100 Feet Road, is not chasing trends but rewriting them with heart, history, and handcrafted detail.

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Founded by four lifelong friends, Sundeep Reddy, Arsau Elango, Santosh Balan, and Prasanna Govindappa, Mirth is built on twenty-five years of shared pub memories in old Bangalore. Once just an idea in their group chat, it is now a warm, whiskey-rich cocktail bar designed for easy conversations, cosy evenings, and nights that blur seamlessly into laughter.

Once a corporate office, the space has been transformed into a glowing, golden-lit haven with interiors meant to flow as naturally as the drinks. Every corner carries the imprint of the founders’ friendship, creating an atmosphere that feels both personal and contemporary.

 The beverage program, crafted by Dev Narveker (Petisco, Goa) and led by Head Mixologist Omkar Vidhyadhar Parab, leans into bold signatures and refined classics. Highlights include Pour Me A Slice (whiskey infused with gouda and blue cheese, swirled with cherry and hibiscus sake), Martini Revolver (a tequila–mezcal mix with house-made jalapeño brine), and Slow Current (a chilli-spiced highball with Gundu pepper and sumac). For lighter sips, options like Clear Intention and Lavender Line add a fizzy, playful edge.

“Start light and finish strong, move from fizzy and fruity to bold and boozy,” says Omkar, laying down the path through Mirth’s cocktail map. The extensive back bar ensures purists won’t feel left out either.

 At the helm of the kitchen is Chef Baljeet Singh Mehra, whose stints across Abu Dhabi, Dubai, New Zealand, and top Indian kitchens bring “fusion without confusion” to the table. Expect dishes like Sunny Side South (Mirth’s take on Goa’s Ros Omelette stuffed with Asian chicken, served with Malvani curry), East Meets Mezze (a hummus-edamame-sriracha blend), Crackle Theory pork, and Napoli Heatwave spaghetti in chilli oil.

 Each founder brings a unique flavour to the venture, Sundeep Reddy, active partner at Roxie, blends engineering precision with F1 fandom. Arsau Elango, finance professional-turned-nightlife enthusiast, contributes global influences and music sensibilities. Santosh Balan, with 20 years of risk advisory, adds depth alongside his passion for cooking. Prasanna Govindappa, an IT veteran, returned from global assignments to help carve a niche for Mirth.

Together, their shared history is visible in every cocktail, playlist, and plate. Guests may even catch them at the bar, sipping on Mirth’s signature Old Flame (a sherry-whiskey concoction) while digging into wok-tossed chilli basil chicken. In an age of Instagram-driven dining, Mirth is refreshingly old-school, prioritising good music, warm hospitality, bold drinks, and food that comforts while surprising. It’s a neighbourhood bar designed not for flash-in-the-pan trends but for the timeless joy of gathering.

Location:
 Mirth Bar, 2nd Floor, Ashok Terrace, 303, 100 Feet Road, Indiranagar 1st Stage, Bengaluru – 560038


Transforming Hospitality: The Impact of Sustainability on Hotel Operations

Transforming Hospitality: The Impact of Sustainability on Hotel Operations

By Manu Vardhan Kannan

Published on September 12, 2025

Picture a busy day in your hotel. Guests are checking in, the front desk is juggling calls, invoices are stacking up, menus need updating, and someone just asked about your eco-friendly practices. Teams are working hard, yet the pressure never seems to ease. As hoteliers, we know this scene well  and we also know it’s not just about keeping things running, but about creating a future where our operations are smarter, greener, and more guest-focused.

Challenges on the Path to Sustainability

Sustainability is no longer a choice; it’s a mandate, and the time has come. Guests expect it, regulators demand it, and costs make it unavoidable. Running paper-heavy processes, relying on outdated servers, or handling manual stock tracking is more than inconvenient, it holds back growth, impacts profitability, and puts your brand at odds with today’s expectations.

How Technology Supports Sustainability

This is where technology steps in, not as a replacement for hospitality, but as an enabler of it. Cloud-based platforms can eliminate the clutter of paper with digital check-ins and e-receipts, reduce waste with smarter inventory systems, and allow managers to monitor performance in real time, even when away from the property. For staff, this means less firefighting and more time to work together, creating an inclusive culture where every department is connected and updated instantly. For leadership, it means running operations that are leaner, faster, and aligned with the values guests expect from modern hospitality.

But let’s be clear: the goal is not technology for technology’s sake. The goal is to elevate guest experience, ensure seamless operations, and maximize revenue. Whether it’s a boutique hotel making its mark, an aspiring hotel group looking to expand, or a well-established chain managing multiple properties, the right digital foundation can be the difference between keeping up and leading the way.

This is where InnKey comes in. More than just a “cloud PMS,” InnKey unifies hotel operations on a single, enterprise-grade platform,  reservations, F&B, finance, procurement, and guest engagement, all connected and accessible anywhere. It’s proven at scale with leading hotel chains, yet agile enough for independent properties. Built with a mobile-first approach, InnKey empowers teams to work on tablets and smartphones, freeing hotels from printers, static terminals, and even the traditional front desk. Imagine a hotel where guests glide through check-in without queues, where no phones ring, yet every department stays informed in real time, and where operations feel invisible, but flawless.

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And here is what sets InnKey apart: while many solutions promise the cloud, InnKey delivers security, scalability, and clarity. With the highest standards of data protection, open APIs for seamless integrations, and robust architecture, it gives hoteliers the confidence that their business is not just digitized, but future proofed. The hospitality industry doesn’t need to digitize the past. It needs to reinvent the future. The urgency is real, the opportunity is here, and the path is clear. It’s time to rethink hospitality and create sustainable hotels that truly last.

Ready to take the first step? Schedule a conversation with an InnKey expert today  and let’s design the roadmap to make your hotel sustainable, mobile-first, and guest-ready for tomorrow. The future isn’t waiting, and neither should you.

For more info, mail us at: sales@innkeypms.net


Air India and Air Astana Sign Codeshare Agreement to Strengthen India–Kazakhstan Connectivity

Air India and Air Astana Sign Codeshare Agreement to Strengthen India–Kazakhstan Connectivity

By Manu Vardhan Kannan

Published on September 12, 2025

Air India, India’s leading global airline, and Air Astana, the flag carrier of Kazakhstan, have announced a new codeshare agreement to expand flight options and connectivity for travellers between India and Kazakhstan.

Under this partnership, Air India will place its ‘AI’ designator code on Air Astana’s flights between Almaty and Delhi, and Almaty and Mumbai. This enables Air India passengers to conveniently book single tickets and enjoy through check-in for their journey to Almaty, a fast-growing hub for both tourism and business in Central Asia.

Speaking on the announcement, Campbell Wilson, Chief Executive Officer & Managing Director of Air India, said:

“Our new codeshare partnership with Air Astana creates stronger air links to Kazakhstan, a fast-growing market with immense potential for tourism. Beyond serving leisure travel demand, our partnership will also support trade and cultural exchanges between our two countries, while bringing a new destination in Central Asia closer to our customers.”

Peter Foster, CEO of Air Astana Group, shared:

“We are delighted to have concluded a comprehensive codeshare agreement with Asia’s oldest airline. Air India is an exceptionally well-managed business, which operates a comprehensive network of flights to, from and across India, the world’s most populous country and one of the fastest growing travel markets. India is of key strategic importance to the Air Astana Group as we increase flights from Kazakhstan to Delhi, Mumbai and Goa. The codeshare will accelerate the increasingly strong business, tourist and student traffic flows between our two countries.”

The agreement builds upon an interline partnership signed earlier in 2025, under which Air India passengers already had access to destinations across Central Asia and China via Almaty, including Astana, Bishkek, Tashkent, Dushanbe, and Urumqi. Meanwhile, Air Astana customers gained access to 18 domestic and 9 international destinations through Air India’s network.

With this codeshare step-up, passengers will benefit from greater convenience, a wider destination network, and simplified travel through a single booking and check-in process. Subject to regulatory approvals, the codeshare flights will gradually be made available for booking across Air India’s website, mobile app, and travel agents worldwide.

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