ICRA Forecasts Continued Revenue Growth for Premium Hotels in FY2026

ICRA Forecasts Continued Revenue Growth for Premium Hotels in FY2026

By Manu Vardhan Kannan

Published on January 17, 2026

India’s hospitality sector is entering a structurally stronger phase of growth, supported by rising domestic travel, diversified demand drivers, and favourable policy momentum, according to a recent report by ICRA Limited. The agency noted that the sector is now less exposed to global disruptions compared to the pre-pandemic period, with demand increasingly driven by domestic travellers.

ICRA highlighted that the industry remains on track to post record revenues and occupancy levels in FY2026–27, even as foreign tourist arrivals remain subdued. Sustained demand, limited new supply, and the growing adoption of asset-light operating models are helping hotels maintain strong performance and profitability.

“Demand drivers now include corporate travel, weddings and social events, religious and spiritual tourism, concerts, sports, MICE activities, and leisure-led travel to Tier-2 and Tier-3 cities,” said Sruthi Thomas, Vice President & Sector Head, Corporate Ratings, ICRA Limited. “The market can now support multiple formats and price points, pushing hotel companies to diversify beyond the traditional upscale business hotel model.”

According to ICRA, demand growth continues to exceed supply expansion, strengthening pricing power for hoteliers. Revenue per available room has touched record levels, with occupancy rates in the range of 69–71 per cent and average room rates between INR 8,100–8,200 during the first nine months of FY2026, compared with Rs. 7,800–7,900 in the same period of FY2025.

The report also noted that despite short-term disruptions caused by revised flight duty norms in December 2025, the sector showed resilience. Extended stays, alternative modes of travel, and bulk wedding bookings helped cushion the impact. Occupancy levels in Q3 FY2026 stood at 76–78 per cent, underlining strong underlying demand.

Thomas pointed to the increasing preference for asset-light models such as management and franchise contracts, which “generate fee-based, high-margin income, require minimal capital, and enhance returns on investment.” These models enable hotel operators to scale faster while maintaining financial discipline and brand standards. She added, “Owned assets continue to anchor brand prestige, especially in prime locations. A mixed ownership strategy, retaining core assets while franchising or managing growth assets, is now emerging as the preferred model.”

Looking ahead, ICRA expects premium hotel occupancy to remain between 72–74 per cent in FY2026, with average room rates rising to INR 8,200–8,500. Growth will continue to be supported by business travel, weddings, MICE activities, and leisure tourism.

ICRA also anticipates that the upcoming Union Budget will further support the hospitality sector through continued focus on tourism, infrastructure development, and financing incentives. With demand remaining strong and supply additions limited, India’s hotel industry is well placed for another year of record performance.


Padma Shri Awardee Chef Damu Passes Away in Chennai

Padma Shri Awardee Chef Damu Passes Away in Chennai

By Manu Vardhan Kannan

Published on October 26, 2026

Renowned chef and television personality Chef K. Damodharan, popularly known as Chef Damu, has reportedly passed away in Chennai at the age of 72, on 25 October 2026. His demise has raised concerns across the culinary and entertainment communities, where he was widely recognised for his contributions to Indian cuisine and television.

Chef Damu became a familiar face among Tamil television audiences through his cooking shows and his role as a judge on Cooku with Comali, broadcast on Star Vijay. His approachable personality, culinary knowledge and interactions with contestants helped him connect with viewers beyond professional kitchens. He also served as the President of the South Indian Chefs Association.

His contribution to the culinary world extended beyond television. In December 2010, Chef Damu achieved a Guinness World Record for the longest cooking marathon by an individual. During the continuous cooking session, he prepared 617 dishes weighing approximately 190 kilograms over 24 hours, 30 minutes and 12 seconds, marking a significant milestone in his culinary career.

In recognition of his contributions to the culinary arts, he received the Padma Shri in 2025, one of India's highest civilian honours. The recognition celebrated his work in the culinary field and his efforts to bring Indian food and cooking traditions to a wider audience.

Chef Damu also made appearances in Tamil films, extending his presence beyond television and the professional culinary world. His career reflected the growing connection between food, entertainment and popular culture, particularly through television programmes that brought cooking into Indian households.

His journey also represented the wider role of chefs in promoting culinary traditions, inspiring aspiring professionals and making food more accessible to audiences. Through his television appearances and professional achievements, he became a recognised personality in Tamil Nadu's culinary landscape.

His sudden demise has sent shockwaves through the culinary world, with condolences pouring in from across the industry.


India Works to Bring Back Umrah Pilgrims Stranded in Saudi Arabia

India Works to Bring Back Umrah Pilgrims Stranded in Saudi Arabia

By Manu Vardhan Kannan

Published on October 23, 2026

India has stepped up efforts to help stranded Umrah pilgrims return from Saudi Arabia amid the regional security situation. The Ministry of External Affairs (MEA) said the Indian Embassy in Riyadh and the Consulate General in Jeddah are coordinating with airlines and tour operators to arrange the early return of affected pilgrims.

MEA spokesperson Randhir Jaiswal said around 3,000 stranded Umrah pilgrims had travelled from Saudi Arabia to India over the past week on available flights. This was in addition to more than 10,000 other Umrah pilgrims who had returned on flights booked as part of their regular travel arrangements during the same period.

The efforts follow an attack on King Fahd International Airport in Dammam, which left one Indian national dead and two others injured. The incident has raised concerns among Indian nationals in the region as the wider security situation affects travel arrangements.

Earlier, AIMIM president Asaduddin Owaisi urged the Centre to intervene, stating that around 4,000 Indian pilgrims were stranded in Makkah and Madina after airlines suspended flights to Saudi Arabian cities amid regional security concerns.

In a post on X, MEA spokesperson Randhir Jaiswal said, “Our Embassy in Riyadh @IndianEmbRiyadh and the Consulate in Jeddah @CGIJeddah are actively engaging with concerned airlines and tour operators to facilitate the early return of affected pilgrims.”

He added, “Over the past week, about 3,000 stranded Umrah pilgrims have travelled from Saudi Arabia back to India on available flights. This is in addition to more than 10,000 normal Umrah pilgrims who were booked on the available flights and have travelled back to India over the past week.”

Jaiswal also said that arrangements were being discussed to facilitate the return of the remaining Umrah pilgrims at the earliest. The Indian Embassy and Consulate, with support from community volunteers, are providing welfare assistance to Indian nationals in need.

The MEA has also established 24×7 control rooms to assist Indian nationals and is issuing regular advisories to share updates and relevant information.

24×7 Control Room Contact Details

Embassy of India, Riyadh

  • Telephone: +966-554412016

  • Telephone: +966-542126784

  • Toll-free: 8002471234 (Calls from within Saudi Arabia only)

  • WhatsApp: +966-536216082 (Messages only)

Consulate General of India, Jeddah

  • Telephone: +966-12-2614093

  • Telephone: +966-556122301

  • WhatsApp: +966-536209704 (Messages only)

Indian pilgrims and their families can use these official contact channels for assistance and updates. The Indian authorities continue to coordinate with airlines, tour operators and local community volunteers to support affected travellers and facilitate their return as soon as possible.


Jivraj9 Tea Group Purchases ₹13 Lakh Worth of Tea at Assam Charity Auction

Jivraj9 Tea Group Purchases ₹13 Lakh Worth of Tea at Assam Charity Auction

By Hariharan U

Published on October 22, 2026

Jivraj9 Tea Group has purchased tea worth ₹13 lakh at a special charity auction organised at the Guwahati Tea Auction Centre (GTAC), joining stakeholders from across India's tea industry in raising funds for communities affected by floods in Assam. The initiative collectively raised approximately ₹2.26 crore, with proceeds directed towards the Assam Chief Minister's Relief Fund.

The special auction generated ₹1.61 crore through tea sales, while an additional contribution of ₹65 lakh took the total amount raised to approximately ₹2.26 crore. Assam Chief Minister Himanta Biswa Sarma personally wielded the auctioneer's hammer, with 12 ceremonial lots sold by him raising ₹99.51 lakh.

Jivraj9 Tea Group was among the participating buyers, joining major tea businesses and industry stakeholders who travelled from cities including Mumbai, Surat, Ahmedabad and Delhi to support the relief effort.

Commenting on the company's participation, Rushabh Shah, Executive Director, Jivraj9 Tea Group, said the tea industry's relationship with Assam extends beyond commercial interests and carries a shared responsibility towards the communities connected with the region's tea and agricultural ecosystem.

He added that the floods had affected local communities and livelihoods, making collective industry support particularly important. Shah said the company was proud to contribute alongside the wider tea fraternity in supporting Assam during the challenging period.

The auction brought together tea producers, buyers, brokers, warehouses and auctioneers, with participants across the value chain contributing to the initiative. Producers contributed tea, brokers and warehouses waived applicable charges, and GTAC facilitated the auction, enabling buyers to purchase the lots in support of the relief effort.

Jivraj9 Tea Group's participation also builds on its recent contribution of ₹12.5 lakh to the Assam Chief Minister's Relief Fund towards relief and rehabilitation efforts for flood-affected communities. The latest purchase at the charity auction further reflects the company's engagement with Assam, a key region in India's tea industry and an important part of its sourcing and value chain.

The initiative highlights the role of collective action in India's tea sector, bringing together businesses and industry partners to support communities during a time of need. By using an established industry platform to mobilise contributions, the charity auction demonstrates how commercial networks can also serve as channels for community support and relief.

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