Hosur to Get New International Airport: A Boon for Tamil Nadu's Economic Growth

Hosur to Get New International Airport: A Boon for Tamil Nadu's Economic Growth

By Nithyakala Neelakandan

Published on June 29, 2024

Tamil Nadu’s industrial town of Hosur is set to receive a major infrastructural boost with the announcement of a new international airport. Chief Minister MK Stalin made the announcement in the state assembly, emphasizing the strategic importance of this development in propelling the state’s economy towards a $1 trillion target by 2030.

The proposed airport will cover 2,000 acres and is designed to handle 30 million passengers annually. This move is expected to significantly enhance connectivity and support the burgeoning industrial and economic activities in the region. Hosur has emerged as a hub for electronics, automobile, and more recently, electric vehicle manufacturing.

Chief Minister Stalin highlighted that this project is part of a broader initiative to develop Hosur, Krishnagiri, and Dharmapuri districts into key economic growth centers. The government sees the airport as essential for facilitating business and travel, reducing dependency on Bengaluru’s Kempegowda International Airport, which is 74 km away.

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Image is for representational purposes only.

Industries Minister TRB Rajaa praised the project, noting that it would not only benefit Hosur but also nearby districts such as Dharmapuri and Salem. He added that the new airport would create a twin-city ecosystem with Bengaluru, fostering growth in both Tamil Nadu and Karnataka.

Despite the enthusiasm, the project faces challenges due to current central government policies that restrict new airports within a 150-km radius of existing ones. This policy could pose a hurdle since Hosur is within this range from Bengaluru’s airport. However, Tamil Nadu’s government is determined to push forward, citing the airport's critical role in the state’s economic strategy.

Hosur’s existing industrial base, which includes major companies like Ashok Leyland, Titan, TVS Motors, and newer entrants like Ola’s e-vehicle factory, stands to benefit greatly from improved air connectivity. The airport is expected to streamline logistics and travel, thereby attracting more investments.

The new airport will complement Tamil Nadu’s existing international airports in Chennai, Coimbatore, Trichy, and Madurai, and domestic airports in Salem and Tuticorin. This development aligns with the state’s broader infrastructural and economic goals, reinforcing its position as a leading industrial and export hub in India.

Overall, the Hosur international airport project is poised to be a game-changer for Tamil Nadu, enhancing regional connectivity, boosting economic growth, and supporting the state’s ambitious vision for the future.


Royal Caribbean Group raises dividend by 33% to $1 per share

Royal Caribbean Group raises dividend by 33% to $1 per share

By Manu Vardhan Kannan

Published on September 14, 2025

Royal Caribbean Group (NYSE: RCL) has announced a significant increase in its shareholder returns, declaring a 33% hike in its quarterly dividend. The company’s Board of Directors approved a dividend of $1.00 per common share, payable on October 13, 2025, to shareholders of record at the close of business on September 25, 2025.

Jason Liberty, President and CEO of Royal Caribbean Group, said the move underscores the company’s confidence in its performance and long-term growth strategy. “Today’s dividend increase reflects both the strength of our performance and our commitment to return capital to shareholders. This increase in dividend, along with our ongoing share repurchase program, highlights our balanced approach to capital allocation, returning value to shareholders while funding future growth,” Liberty stated.

Royal Caribbean Group is a global leader in the vacation industry, operating a fleet of 68 ships across five brands that serve millions of guests annually. Its portfolio includes Royal Caribbean International, Celebrity Cruises, and Silversea, as well as land-based experiences such as Perfect Day at CocoCay and the Royal Beach Club collection. The company also holds a 50% joint venture in TUI Cruises, which manages brands like Mein Schiff and Hapag-Lloyd Cruises.

With a reputation for innovation and guest-focused experiences, Royal Caribbean Group continues to expand its global footprint while maintaining its commitment to responsible and sustainable growth.


Apeejay Surrendra Park Hotels Reports Rs 13 Crore Net Profit in Q1 FY26

Apeejay Surrendra Park Hotels Reports Rs 13 Crore Net Profit in Q1 FY26

By Manu Vardhan Kannan

Published on August 18, 2025

Apeejay Surrendra Park Hotels Limited (ASPHL) announced its financial results for Q1 FY26, recording a net profit of Rs 13 crore. Revenue from operations stood at Rs 154 crore, a 14% increase year-on-year, while operating EBITDA grew 16% YoY to Rs 45 crore. The company maintained an industry-leading occupancy of 92%, reaffirming its leadership in the hospitality sector.

ASPHL’s growth is fueled by expansion into Tier 2 and Tier 3 markets. The company recently signed an MoU to acquire and manage four leisure properties in Goa, Manali, Shimla, and Dharamshala, adding 138 rooms under its brand. These steps align with ASPHL’s strategy to broaden its presence in high-potential tourism destinations and double its key count to 5,750 over the next five years.

Flurys, ASPHL’s iconic bakery and confectionery brand, now operates 102 outlets nationwide, reflecting the company’s focus on expanding its market presence while integrating modern amenities with rich cultural heritage.

Commenting on the performance, Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels, said,

"We have delivered an extraordinary and best-ever Q1, setting a strong momentum for the year ahead. With topline growth of 14% and EBITDA growth of 16%, we recorded India’s highest occupancy of 92% and maintained leadership in RevPAR in the upper-upscale segment. ARR improved by 13% and RevPAR increased by 12%. With nearly 600 new rooms added, including a 41% rise in our asset-light model, and nationwide Flurys rollout, we are poised to scale faster, enhance margins, and deliver exceptional shareholder value."

ASPHL’s strong performance in Q1 FY26 underscores its strategic focus on market expansion, operational excellence, and premium guest experiences.


Marriott Announces Dividend and Expands Share Buyback Plan

Marriott Announces Dividend and Expands Share Buyback Plan

By Manu Vardhan Kannan

Published on August 10, 2025

Marriott International, Inc. has declared a quarterly cash dividend of 67 cents per share on its common stock, reaffirming its commitment to delivering shareholder value. The dividend will be paid on September 30, 2025, to shareholders who are on record as of August 21, 2025.

Alongside the dividend announcement, the hospitality giant also revealed an expansion of its share repurchase program. The board of directors has authorized the repurchase of an additional 25 million shares of its Class A common stock. This comes in addition to the approximately 7.4 million shares that were still available under previous authorizations as of July 30, 2025.

Marriott has already bought back 6.4 million shares this year, amounting to $1.7 billion. These moves reflect the company’s continued confidence in its financial stability and long-term performance, aiming to strengthen shareholder value through strategic capital allocation.

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