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By Author
Published on February 23, 2024
The Indian hotel industry is on the brink of significant growth, with ICRA forecasting a revenue increase of 7-9% in FY2025, building on the robust 14-16% growth anticipated in FY2024. This optimistic outlook is fueled by a combination of factors, including sustained domestic travel momentum, an uptick in meetings, incentives, conferences, and exhibitions (MICE) demand, a resurgence in weddings and business travel, and the burgeoning interest in spiritual tourism and tier-II city destinations.
ICRA's analysis points to a sustained period of high occupancy for pan-India premium hotels, expected to maintain decadal highs of 70-72% in both FY2024 and FY2025, after a recovery to 68-70% in FY2023. Concurrently, Average Room Rates (ARRs) are on an upward trajectory, predicted to increase from INR 7,200-7,400 in FY2024 to INR 7,800-8,000 in FY2025. This rise in ARRs is bringing the industry closer to the FY2008 peak levels, albeit at an 8-12% discount in FY2024, with a convergence expected in FY2025.
Despite the general trend, certain hotels and locations have already surpassed the FY2008 peak ARR figures in FY2024, indicating a spike beyond the average increases. This surge is supported by a healthy demand outlook, driven by improvements in infrastructure, air connectivity, demographic factors, and the growth of large-scale MICE events facilitated by new convention centers.
The Indian hotel sector's recovery and growth are bolstered by several ongoing and upcoming renovations, refurbishments, and upgrades across the industry, further enhancing ARRs. The sustained interest in domestic leisure travel and the slow but steady recovery of Foreign Tourist Arrivals (FTA) – contingent on the global macroeconomic climate – are additional factors contributing to the industry's positive trajectory.
Vinutaa S, Vice President and Sector Head – Corporate Ratings, ICRA Limited, highlighted the critical role of domestic tourism as the primary demand driver in FY2024 and its expected continuation in the near term. Despite the wane of the revenge travel phenomenon, leisure travel remains a steadfast contributor to the industry's recovery path. However, the industry's full potential is somewhat hampered by the lingering challenges in the supply chain.
Looking ahead, the Indian hotel industry's revenue growth is expected to be complemented by a favorable supply situation, healthy demand in the MICE segment, and the strategic expansion of larger players through management contracts and operating leases. This confluence of factors, coupled with the uptick in earnings and cash flows, is poised to support a stronger capital structure and improved debt metrics beyond pre-Covid levels in FY2024 and FY2025.
As the Indian hotel industry navigates through this period of recovery and growth, the focus on enhancing guest experiences, leveraging domestic tourism, and capitalizing on the strategic expansion opportunities will be key to sustaining the positive momentum.
For more detailed insights and analysis on the Indian hotel industry's outlook, visit ICRA's official website.
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By Hariharan U
Published on July 16, 2026
Adie Broswon Breweries (ABB), a division of The Adie Broswon Group, has entered into a long-term manufacturing arrangement with United Breweries Limited (UBL), strengthening its position as a key player in North India’s brewing and manufacturing ecosystem.
The partnership will leverage ABB’s advanced 12 million-case brewing facility, one of the largest brewing infrastructures in the region, enabling the company to support large-scale production requirements for leading beverage companies while enhancing manufacturing capabilities and operational efficiency.
Powered by German brewing technology from Ziemann, ABB’s brewery achieved its highest-ever annual production milestone of more than 5 million cases during FY2025–26. The facility operates on renewable-energy-powered systems and follows globally recognised manufacturing standards, including FSSC 22000 and QMS certifications, highlighting its commitment to quality, food safety, and sustainable operations.
The collaboration comes at a time when India’s beer industry is witnessing a shift towards more specialised manufacturing partnerships. Beverage companies are increasingly adopting strategic production arrangements to optimise regional supply chains, improve asset utilisation, and enhance production flexibility.
Large-scale breweries equipped with advanced technology, certified quality systems, and sustainable infrastructure are becoming increasingly important in supporting the growth and evolving requirements of India’s beverage sector.
The manufacturing arrangement with UBL further reinforces ABB’s capabilities as a reliable brewing partner with the scale, technology, and operational expertise required to support established beer brands across markets.
With its focus on manufacturing excellence, sustainability, and innovation, Adie Broswon Breweries continues to strengthen its role in India’s brewing ecosystem while contributing to the next phase of growth in the country’s beverage industry
By Manu Vardhan Kannan
Published on July 14, 2026
Nimbus Projects Limited (Nimbus Group), one of North India's leading real estate developers, has reported strong operational performance for the first quarter of FY27, driven by robust residential demand, higher customer collections and continued progress across its project portfolio.
During Q1 FY27, the company recorded a pre-sales booking value of ₹157.36 crore, marking a 134.31% year-on-year increase from ₹67.16 crore reported in the same quarter of the previous financial year.
Customer collections also witnessed healthy growth, rising 49.75% to ₹75.91 crore from ₹50.69 crore in Q1 FY26. The company said the increase reflects stronger cash flow, sustained customer confidence and efficient project execution.
Nimbus Group attributed its quarterly performance to its disciplined execution strategy, customer-focused approach and growing presence in the rapidly developing real estate markets of Noida, Greater Noida and the Yamuna Expressway (YEIDA) region. These markets continue to benefit from major infrastructure developments, improved connectivity and rising demand from homebuyers.
Particulars
Q1 FY26
Q1 FY27
Growth
Pre-Sales Booking Value
₹67.16 crore
₹157.36 crore
134.31%
Customer Collections
₹50.69 crore
₹75.91 crore
49.75%
Commenting on the performance, Mr. Bipin Agarwal, Chairman and Managing Director, said:
"The strong growth in pre-sales reflects sustained homebuyer confidence and healthy demand across our key markets. Our focus on timely execution and a disciplined sales strategy continues to support the steady conversion of bookings into collections, strengthening our cash flow position.
Looking ahead, the NCR, particularly Noida, Greater Noida and the Yamuna Expressway (YEIDA) corridor, is witnessing unprecedented infrastructure-led transformation. The launch of Noida International Airport, Ganga Expressway, expanding metro connectivity, industrial and logistics hubs, along with the proposed Japan City and Singapore City developments, have the potential to significantly enhance the region's investment appeal and reinforce long-term demand for quality residential and mixed-use developments.
As part of our long-term growth strategy, Nimbus is expanding beyond the NCR into high-potential markets across Uttar Pradesh. We have recently signed a Memorandum of Understanding (MoU) for the development of an integrated township project in Mathura, one of India's most revered holy cities, under the Uttar Pradesh Township Policy, 2023. We believe Mathura's growing religious tourism, improving infrastructure and increasing demand for organised real estate make it an attractive long-term growth market.
Building on this milestone, we are actively evaluating opportunities in other high-growth Tier II and Tier III cities, including Meerut, Vrindavan, Hapur, Rudrapur, Muzaffarnagar, Bareilly and Rohtak, through integrated townships and mixed-use developments. With our disciplined execution capabilities and customer-first philosophy, Nimbus is well-positioned to capitalize on these emerging opportunities while creating sustainable long-term value for our customers, investors and all stakeholders."
Looking ahead, the company plans to expand its footprint beyond the NCR by focusing on high-potential markets across Uttar Pradesh. Following the signing of an MoU for an integrated township project in Mathura under the Uttar Pradesh Township Policy, 2023, Nimbus Group is also evaluating opportunities in cities including Meerut, Vrindavan, Hapur, Rudrapur, Muzaffarnagar, Bareilly and Rohtak through integrated township and mixed-use developments.
Atelier Expressions, the premium lifestyle platform of TVS VENU, has entered into an agreement to acquire a majority stake in Lonestar Hospitality Private Limited, the company behind New Delhi-based luxury handcrafted mithai brand Khoya. The transaction marks another milestone in Atelier Expressions' strategy of building a portfolio of premium artisanal businesses rooted in cultural heritage and craftsmanship.
The acquisition, which is subject to customary closing conditions, is expected to be completed by the end of August 2026.
Through its investment platform, Atelier Expressions partners with heritage-led businesses to help them scale while preserving their authenticity and distinctive identity. Khoya joins a growing portfolio of premium lifestyle brands that combine traditional craftsmanship with contemporary consumer appeal.
Founded in 2016 by Sid Mathur, Khoya has built a strong reputation for reimagining traditional Indian mithai for modern consumers. The brand blends premium ingredients, artisanal craftsmanship, and refined presentation to create luxury confectionery rooted in India's rich culinary traditions. Its portfolio includes handcrafted mithai, chikki, mukhwas, savoury snacks, and premium gifting collections, available through its online channels and select retail outlets in Delhi.
As part of the transaction, Sid Mathur will continue to lead the business, retaining full operational and execution responsibilities alongside his existing leadership team.
Commenting on the acquisition, Tara Venu, Executive Director of Atelier Expressions, said Khoya perfectly represents the type of business the platform seeks to support. She noted that the brand has successfully reinterpreted one of India's oldest culinary traditions for a new generation while preserving its authenticity, making it a natural addition to Atelier Expressions' expanding portfolio.
Speaking on the partnership, Sid Mathur said the investment represents an important opportunity to scale Khoya's presence across India, explore new collaborations, and strengthen its position in the premium confectionery segment. He added that Khoya was founded on the belief that Indian mithai deserves the same craftsmanship, creativity, and attention to detail as the world's finest luxury food brands, and that Atelier Expressions shares the company's long-term vision for quality-led brand building.
Before launching Khoya, Mathur played a key role in developing well-known restaurant brands including Smoke House Deli and Social during his tenure with the Impresario Group. He also founded Secret Ingredient, one of India's leading food consultancy firms, which has worked with hospitality brands and food businesses including Taj Hotels, The Oberoi, Chaayos, DLF, GMR, and Veeba.
The acquisition further expands Atelier Expressions' premium lifestyle portfolio, which already includes French Limoges porcelain house J.L. Coquet, Dubai-based restaurant Khadak, and London luxury motorcycle helmet manufacturer Hedon. Through these investments, the platform continues to focus on businesses that combine cultural heritage, exceptional craftsmanship, and long-term growth potential.
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