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By Author
Published on November 11, 2023
In an encouraging sign of robust recovery and growth, Trevolution Group has reported record-breaking airfare sales in the Indian market. This surge showcases a significant 37 percent market growth in the third quarter of 2023 compared to the same period last year, underscoring India's ascending prominence as a top travel destination.
The group's data highlights a remarkable sale of over 59,220 flight tickets from India's primary airports, culminating in nearly USD 103 million in gross bookings. This figure constitutes more than 11 percent of the company's total gross profit during the third quarter, pointing to India's expanding footprint in the global travel industry.
A significant contributor to this uptrend is the robust demand for trans-Pacific flights, which has surged past pre-pandemic levels. The first nine months of 2023 witnessed a 22 percent increase in inbound tourism and an even more impressive 179 percent boost in outbound tourism from India.
The class of travel has also diversified, with sales soaring across all cabin classes. There has been an outstanding 193 percent growth in economy class bookings and a 139 percent increase in business class bookings from India. This surge not only reflects the return of business travel but also highlights the growing Visiting Friends and Relatives (VFR) segment, particularly among the 4.4 million Indian Americans.
In terms of booking trends, there has been a shift toward advance planning, with over one-third of international travelers booking their flights to India more than 90 days in advance. However, outbound travelers from India display a contrasting pattern, with a notable proportion making last-minute bookings.
Destination data reveals that the majority of travel from India is directed towards the United States, Canada, the UAE, the United Kingdom, and domestic locations, with New York, San Francisco, Chicago, Dallas, and Washington being the top cities. Airlines such as Emirates, Air India, and Turkish Airlines are leading in terms of service preference among travelers.
Trevolution Group's report indicates that the Indian diaspora in North America plays a significant role in these travel patterns, with many Indian passengers flying to these regions to maintain familial and cultural ties.
Alex Weinstein, the Founder of Dyninno Group, stated, "India’s growing economy and expanding international business relations are fuelling a rising demand for global travel. The strategic partnerships we’ve forged, particularly with Air India, have been pivotal in driving this success."
As the holiday season approaches, the travel industry anticipates continued growth, with trends indicating a year of unprecedented success. The record airfare sales in the Indian market are not just numbers but a reflection of the country's burgeoning economy, the evolving habits of its travelers, and its rising status as a global travel hub.
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By Nishang Narayan
Published on February 16, 2025
The Board of Directors of Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) and Magadh Sugar & Energy Limited (MSEL) (BSE: 540650 / NSE: MAGADSUGAR) took on record the unaudited financial results for the quarter and nine months ended December 31, 2024.
Q3FY25:
9MFY25:
“The sugar season 2024-25 has presented a mixed outlook, with challenges such as lower cane yields and lower recovery in key states like Uttar Pradesh, Maharashtra, and Karnataka affecting production. Despite these setbacks, we remain optimistic about long-term growth. However, rising production costs and stagnant ethanol prices call for timely policy adjustments.
At Avadh, we are focused on sustainable expansion, and with the upcoming completion of our crushing enhancement at the Hargaon unit for the 2025-26 season, we expect further value creation.”
“The industry is facing a decline in production due to lower cane availability and recovery, along with a shift toward ethanol. Despite these challenges, our ability to adapt and invest in expansion positions us well for long-term growth.
At Magadh, we are committed to sustainability and are enhancing our crushing capacity and implementing steam-saving measures at our Narkatiaganj unit, which is now operational for the 2024-25 crushing season. With the right policy support, the sugar industry can continue to play a crucial role in India's economy.”
Published on February 7, 2025
Sterling Holiday Resorts Ltd. has announced its strongest quarter yet in Q3 FY25, marking a milestone in the company’s growth trajectory. With 18 consecutive quarters of profitability, Sterling’s performance in Q3 surpassed even its traditionally dominant Q1, thanks to strategic portfolio expansion that strengthened revenue streams beyond peak seasons.
The company reported a 12% YoY income growth, reaching ₹1,389 Mn. EBITDA increased by 14%, with a solid 38.8% EBITDA margin, while EBIT rose 13% YoY.
Sterling’s portfolio now spans 48 locations with 57 resorts, hotels, and retreats in the upper-mid to upper-upscale segments. Strengthening its footprint, the company added three new resorts in Q3:
Maintaining its rapid growth pace, Sterling has launched one resort per month for the past 18 months, with several more in the pipeline.
"Sterling has witnessed its strongest-ever quarter, a testament to our brand's growing preference among customers. A surge in holiday demand, coupled with our aggressive resort expansion, has fueled this success," said Vikram Lalvani, MD & CEO, Sterling Holiday Resorts.
Sterling’s food and beverage division has been another strong performer, recording a 20% YoY growth. The company attributes this to its enhanced dining experiences and a diverse range of culinary offerings across its properties.
Further strengthening its commitment to sustainability, Sterling has introduced Sterling Sankalp, an ESG initiative aimed at responsible tourism. The company has implemented key measures across several resorts, including:
On a year-to-date (YTD) basis, Sterling has achieved a 14% growth in income (₹3,842 Mn) and a 35% EBITDA margin, showcasing its sustained upward trajectory. With an expanding portfolio, a thriving food and beverage sector, and a strong focus on sustainability, Sterling continues to solidify its leadership in the hospitality industry.
Published on February 5, 2025
The Union Budget 2025 has introduced key measures that promise growth across the hospitality, food & beverage, and startup sectors. Industry leaders see these developments as game-changing, driving innovation, infrastructure enhancement, and workforce development.
Mayank Prasad, Founder of Curated Catering by Design, sees the budget as a positive step for the catering and hospitality sector.
"The establishment of the National Institute of Food Technology will drive innovation and skill development in food processing, benefiting the entire ecosystem. The push to enhance tourism by developing 50 key destinations is a welcome move that will directly boost demand for premium catering services. Additionally, government support for hospitality training programs will help bridge the skill gap, ensuring a well-trained workforce for the sector," he said. With these measures, the catering industry is poised to scale, innovate, and contribute significantly to India's evolving culinary landscape.
Rahul Taneja, Head of Operations at Dharana at Shillim, highlighted the transformative impact of the budget on tourism.
"A standout feature is its strong emphasis on the travel and hospitality industry, with well-structured measures to boost both domestic and international tourism. Initiatives like promoting spiritual and medical tourism, along with the Heal in India initiative, will be game-changers," he noted. The budget’s collaboration with the private sector and simplified visa norms aim to position India as a top destination for holistic well-being, integrating Preventative Medicine, Healing Nutrition, Ayurveda, and more. Additionally, investments in skill development within the hospitality sector will enhance service quality, elevating India's global tourism reputation.
Vishal Puri, Co-Founder of Spalba, praised the budget’s steps toward fostering innovation and sustainability."Investments in tourism infrastructure and connectivity enhancements, like the development of greenfield airports and the modified UDAN scheme, should boost domestic and international travel. However, the quality of services at these airports, specifically regarding cancellations, needs to be controlled for these measures to be effective," he pointed out. The inclusion of hotels in the harmonized tourism infrastructure scheme and the ₹1 lakh crore Urban Challenge Fund are also expected to transform urban tourism experiences. Additionally, startups will benefit from an extended tax holiday, simplified compliance, and increased funding through the ₹10,000 crore Startup India Fund, driving digital innovations and sustainability.
With a strong focus on tourism, catering, and startups, the Union Budget 2025 sets the stage for accelerated growth, making India a more attractive and accessible destination for travelers and entrepreneurs alike.
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