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By Author
Published on February 6, 2024
In a remarkable display of resilience and strategic growth, The Indian Hotels Company Limited (IHCL) has once again outdone itself by reporting its seventh consecutive quarter of record performance. For the quarter ending December 31, 2023, IHCL's revenue saw a significant jump of 15% year-on-year, reaching an impressive INR 2,004 crores.
The company didn't just stop at revenue growth; it also reported an 18% increase in EBITDA, which stood at INR 772 crores. This boost in earnings comes with an equally impressive EBITDA margin of 38.5%. What's even more commendable is the Profit After Tax (PAT), which soared to INR 452 crores, marking an 18% increase compared to the previous year.
IHCL's domestic operations played a pivotal role in this quarter's success, with revenue reaching INR 1,323 crores, a 22% increase over the previous year. The domestic EBITDA margin was particularly noteworthy at 45.4%, indicating a robust expansion and operational efficiency.
Puneet Chhatwal, the Managing Director & CEO of IHCL, shared his enthusiasm over the Q3 FY24 results, emphasizing the all-time high consolidated EBITDA margin of 38.5% and a PAT margin of 22.6%. He attributed this success to the company's strong market performance, addition of new businesses, and scaling of existing ventures.
The period also saw IHCL making significant strides in expanding its portfolio. The company announced the signing of agreements for 28 new hotels and celebrated the opening of 16 hotels, including the iconic Taj Taal Kutir in Kolkata and Vivanta Tawang, bringing its total to 200 operating hotels.
IHCL's new business vertical, which includes brands like Ginger, Qmin, amã Stays & Trails, The Chambers, and TajSATS, has shown substantial growth, further diversifying and strengthening the company's revenue streams. Notably, the flagship Ginger hotel at Mumbai Airport reported an 80% occupancy and turned a net profit in its first month.
In related news, the Thomas Cook India Group reported impressive financial results for the first nine months of FY24, with a 132% increase in Consolidated EBITDA and a 258% YoY growth in Consolidated Profit Before Tax (PBT) for the third quarter.
As IHCL continues to break records and expand its horizons, the future looks promising for India's hospitality giant. With strategic expansions, diverse ventures, and consistent performance, IHCL is set to redefine hospitality excellence.
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By Manu Vardhan Kannan
Published on August 11, 2026
Crossway Hotels & Resorts has opened the doors to Petit Palais by Crossway, a boutique hotel located in the heart of White Town, Pondicherry. Set on the iconic Suffren Street, the property is housed in a restored French Colonial heritage building that brings together old-world charm and modern comforts.
The 15-room hotel has been designed around the character of French architecture, with each classic room featuring intricate details and vintage-inspired elements. The interiors aim to offer guests a calm and refined stay while retaining the property's heritage character.
Guests can also enjoy in-room amenities including freshly ground coffee, a selection of dark and green leaf teas, French press coffee makers and tea brewing sets, offering a relaxed way to begin the day.
The property features a rooftop restaurant and bar serving a mix of global and local favourites. Located overlooking the pool, the space also offers views of the ocean and the Pondicherry coastline, creating a setting for relaxed meals and evening gatherings.
For those looking for something sweet, La Boulangerie at Petit Palais offers artisanal desserts, freshly baked breads and premium coffees in an inviting setting.
The hotel's location also puts guests within walking distance of the beach and close to several of Pondicherry's popular tourist attractions. This makes the property suitable for travellers looking to combine a leisure stay with cultural exploration.
Speaking on the launch, Yangya Prakash Chandran, CEO & Founder, Crossway Hotels & Resorts, said, “Petit Palais by Crossway is a celebration of Pondicherry’s rich French heritage, reimagined for the modern traveller. At Crossway, our vision has always been to create distinctive hospitality experiences, and this property reflects our commitment to blending heritage, design, and comfort in a way that feels both authentic and contemporary.”
Karuna Sesh, owner, Petit Palais, added, “Petit Palais is a labour of love, inspired by the timeless charm of French Colonial architecture and the unique spirit of White Town. Every element, from the rooms to the culinary experiences, has been thoughtfully curated to offer guests a warm, intimate, and memorable stay. We are delighted to open our doors and welcome travellers from across the world.”
With its restored heritage setting, curated dining experiences and location in White Town, Petit Palais by Crossway aims to offer travellers a stay that combines Pondicherry's French heritage with contemporary hospitality.
Ironhill India and Ironhill USA have merged to create a unified international hospitality platform, bringing together the two organisations under a single global entity.
Ironhill India, described as the country's largest and most awarded hospitality group, is joining forces with Ironhill USA, known for its craft brewery and F&B destinations in the United States. The merger brings together India’s operational scale, growth capital and consumer understanding with the US business’s craft brewing legacy, hospitality experience and product innovation.
The partnership has already been taking shape through months of shared operational work. The combined teams have successfully reopened Ironhill locations in Center City Philadelphia, Wilmington, Hershey, Lancaster, and Huntingdon Valley. Following the merger, Ironhill's combined GMR rises to INR 444 crore, reflecting the scale of the two businesses and the momentum behind the unified platform.
For Teja Chekuri, Co-Founder & Managing Director- Ironhill India, the merger formalises a partnership that has been developing over time.
"What we're announcing today isn't the beginning of something new but the formal recognition of something that was already true. Our teams have operated with a shared vision for months: that great hospitality is not a regional proposition, it is a universal one. This merger gives us the unified strategic framework and global platform to pursue that vision at a scale neither organisation could have achieved independently. Now with a combined operational footprint, the group is targeting significant revenue growth in the coming financial year as it scales its international platform."
Mark Edelson, Advisor & Founder - Ironhill USA, sees the merger as a combination of two hospitality approaches that complement each other.
"Ironhill has always been built on the belief that people deserve experiences worth travelling for. India brought a perspective on hospitality at volume without compromising on craft and that has made us sharper, more ambitious, and better equipped for every market we intend to enter next. Bringing our two organisations into full strategic alignment means we can now deliver that standard in every market we enter, and we intend to enter many more."
Sree Harsha Vadlamudi, Co-Founder & Board Director- Ironhill India, added that the partnership is built around the strength of the brand and the opportunities ahead.
“Joining forces with Ironhill US was a decision rooted in conviction in the brand's legacy, the quality of its people, and the scale of what we can build together. India and the United States are two of the world's most dynamic hospitality markets, and this partnership gives us a platform to operate across both with shared ambition and complementary strengths. The locations we have reopened are a tangible demonstration of what two organisations can achieve when operating with shared purpose and this is only the beginning"
The combined entity will draw on Ironhill India's presence across multiple Indian cities, experiential venues and F&B formats. Its expertise in brewing, culinary R&D and high-volume experiential hospitality will support the wider global business.
Ironhill USA will play a key role in the international growth strategy, bringing its existing infrastructure, market access and operational experience to support expansion into new markets.
For Alexis Lundeen, Director – Operations, Ironhill USA, reopening the US locations has also been about reconnecting employees, vendors and local communities with the brand.
"Bringing Ironhill back has meant bringing 500 team members and vendors back to their jobs, their regulars, and to the craft they spent years perfecting. The response from our communities across Philadelphia, Wilmington, Hershey, Lancaster, and Huntingdon Valley has been humbling. People didn't just come back; they came back with gratitude. This tells you everything about what this brand means to people and everything about why it was worth fighting to bring it home. Our people are our power, humbled to provide excellent craft beer, scratch made food and warm, engaging hospitality"
Going forward, both organisations will work with shared brand, product and service standards so that the Ironhill experience remains consistent across its international locations. The brewing and culinary teams will also operate as a central innovation hub, developing proprietary menu platforms and brewing formulations by bringing together ideas and expertise from both markets.
Ironhill has already established a strong position in India's hospitality sector, including recognition through the Beer Asia Chairman's Selection 2025 and several industry awards. The group also pioneered a tier-2-first market strategy, taking experiential hospitality to cities such as Vizag and Vijayawada before expanding into India's metropolitan centres.
The company plans to carry this approach into its international growth strategy, focusing on reaching consumers across different markets rather than following conventional expansion routes.
Ironhill is now looking towards active expansion across key international markets, with new market entry announcements expected through 2026 and 2027.
Published on August 9, 2026
Roseate Hotels & Resorts has expanded its partnership with M3M Group, coming on board as the hospitality and facility management partner for M3M Jacob & Co. Residences. The partnership adds to Roseate's existing association with M3M Trump Towers Gurgaon and expands its role across M3M's luxury branded residences portfolio.
As part of the partnership, Roseate Hotels & Resorts will manage a range of services at M3M Jacob & Co. Residences, including concierge services, housekeeping, engineering, security, restaurants, wellness facilities, club operations and lifestyle management.
The focus will be on bringing Roseate's hospitality expertise into the residential community and creating a professionally managed, hotel-inspired living experience for residents. The partnership comes at a time when India's branded residences market is seeing a shift in what luxury homebuyers expect. Beyond architecture and international brand names, buyers are increasingly looking at hospitality, service standards and the overall long-term living experience. Professionally managed operations are becoming an important part of luxury residential developments, bringing hotel-style services and experiences into premium homes.
M3M has built a strong presence in India's branded residences segment through collaborations with global luxury brands including Trump, Jacob & Co. and Elie Saab. Its approach combines international brands with hospitality-led living, curated lifestyle experiences and premium services. The partnership was announced during 'The Circle of Time', an exclusive evening hosted by M3M and Jacob & Co. for the Inner Circle residents of M3M Jacob & Co. Residences.
The event highlighted the shared values of craftsmanship, exclusivity and timeless luxury. It also featured the unveiling of a limited-edition Jacob & Co. timepiece created exclusively for Inner Circle residents as a symbol of their connection with India's first Jacob & Co. branded residential community. Roseate's appointment at M3M Jacob & Co. Residences highlights the growing connection between luxury real estate and hospitality. As the branded residences market develops further in India, such partnerships are expected to place greater focus on design, professional operations and the everyday experience of residents.
M3M has developed a portfolio of branded residences through partnerships with globally recognised luxury brands such as Trump, Jacob & Co. and Elie Saab. Its portfolio includes M3M Trump Towers, M3M Jacob & Co. Residences and M3M Elie Saab Residences, combining global luxury brands with design, hospitality-led experiences and lifestyle offerings.
Founded in 2010, M3M India is one of India's leading real estate developers and among the country's largest privately-held real estate companies. The company has a presence across Delhi NCR in luxury residential, branded residences, retail, commercial, mixed-use developments and integrated townships. M3M has recorded more than ₹1.28 lakh crore of launched GDV, cumulative sales of over ₹81,000 crore, customer collections exceeding ₹47,000 crore and more than 30 million sq. ft. delivered.
The company continues to focus on innovation, design, execution and customer experience across its developments, with branded residences, integrated mixed-use projects and destination retail forming key parts of its portfolio.
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