MAYFAIR Elixir, the growth and expansion arm of MAYFAIR Hotels & Resorts, has signed a premium hospitality project in Santiniketan, West Bengal, further strengthening the group's presence in Eastern India.

The hotel, scheduled to open in FY2028-29, will become MAYFAIR's fifth property in West Bengal. Located in the UNESCO World Heritage Site of Santiniketan, the development aims to cater to leisure travellers, cultural enthusiasts and guests looking for intimate celebration venues.

Designed as a premium retreat, the upcoming property will combine modern hospitality with the cultural heritage of Santiniketan, offering personalised experiences that reflect the MAYFAIR brand while embracing the destination's artistic and literary legacy.

The signing was announced during Jagannath Rath Yatra and forms part of the group's long-term strategy to expand across destinations known for their cultural significance and tourism potential.

Speaking on the partnership, Rajendra Chatterjee, CEO & Managing Director of WESTROAD Group, which owns the property, said:

"Santiniketan is more than a destination. It is an emotion that celebrates creativity, learning and Rabindranath Tagore's legacy. We wanted a hospitality partner that understands the importance of preserving this essence while delivering exceptional guest experiences. MAYFAIR Group's expertise, its deep understanding of regional culture and unwavering commitment to excellence made it the natural choice. We look forward to creating a landmark experience in Santiniketan with MAYFAIR Elixir."

Commenting on the signing, Randhir Gupta, Vice President – Commercial & Business Development, MAYFAIR Hotels & Resorts, said:

"Santiniketan has long been one of India's most celebrated cultural destinations. Yet, the market has remained underserved in the premium hospitality segment. This signing is a strategic addition to our growing portfolio, allowing us to introduce the MAYFAIR experience to a destination of global significance. Santiniketan perfectly aligns with our vision of expanding into culturally rich destinations with long-term tourism potential."

Bjorn DeNiese, Managing Director, MAYFAIR Elixir, added:

"This marks an exciting chapter in the growth journey of MAYFAIR Elixir. As we expand our footprint across India, our vision is not simply to add destinations, but to create hospitality experiences that celebrate the unique character and cultural identity of every place we enter. Santiniketan, with its extraordinary legacy of art, literature and learning, embodies the values we believe modern travellers increasingly seek."

He further said the company has several new destinations, hospitality concepts and strategic partnerships in the pipeline as it continues to grow its portfolio across India.

The latest signing reinforces MAYFAIR Hotels & Resorts' focus on expanding into culturally significant destinations while strengthening its presence in key tourism markets across the country.

 ITC Hotels Ltd reported a strong start to FY27, posting double-digit growth across key financial metrics while continuing to expand its portfolio through its asset-right strategy.

During the first quarter, the company recorded consolidated revenue from operations of ₹936 crore, up 15% year-on-year. EBITDA increased 19% to ₹292 crore, while profit after tax (PAT) rose 36% to ₹182 crore, reflecting steady operational performance despite a challenging business environment.

The company said the quarter was impacted by uncertainty arising from the West Asia conflict, which affected international air travel and contributed to inflationary pressures. Demand remained subdued during April due to weaker foreign tourist arrivals, but travel sentiment improved significantly in May and June, leading to a strong recovery in occupancy and room rates.

Excluding branded residences, revenue from operations grew 10% year-on-year, supported by an 8% increase in room revenue, driven primarily by the retail segment. The company reported a 4% growth in Average Daily Rate (ADR), while occupancy improved by 290 basis points, resulting in an 8% year-on-year growth in RevPAR.

ITC Hotels maintained a 33% RevPAR premium over the industry, highlighting the continued preference for its brands and guest experience.

The company's food and beverage (F&B) revenue grew 11%, led by specialty restaurants and banquet business. Meanwhile, management fees increased 35% year-on-year, supported by strong performance at managed hotels in leisure destinations and the stabilisation of properties added over the previous year.

Operational efficiencies also improved during the quarter, with EBITDA margin (excluding branded residences) expanding by 125 basis points to 31%, driven by growth across rooms, F&B, management fees and ongoing cost management initiatives.

Among its operational highlights, ITC Ratnadipa reported positive EBITDA while retaining its leadership in RevPAR. The company also continued the phased handover of Sapphire Residences, with 16 apartments handed over so far.

As part of its asset-right growth strategy, ITC Hotels completed the acquisition of Kumarakom Resort & Spa and has begun a comprehensive renovation programme. The property is expected to reopen under the ITC Hotels luxury resort and spa brand by the third quarter of FY27.

The company also strengthened its development pipeline by signing eight new hotels across Jaipur, Manesar, Bhubaneswar, Sonipat, Shirdi, Shahjahanpur and Zirakpur. It further marked the signing of the 25th Storii property at Amchong Tea Estate, Guwahati, while the opening of Fortune Bhimtal expanded its presence in the growing leisure travel segment.

On the sustainability front, ITC Hotels commissioned a 1.5 MWp captive solar plant at ITC Grand Bharat, increasing its total installed renewable energy capacity to 52.4 MW.

The company also strengthened its environmental credentials with ITC Royal Bengal becoming its 13th hotel to receive LEED Zero Water Certification, while Welcomhotel Vadodara achieved LEED Platinum Certification, taking the total number of LEED Platinum-certified hotels in its portfolio to 24.

Looking ahead, ITC Hotels said the outlook for India's hospitality sector remains positive, supported by the country's strong economic growth, infrastructure development, rising discretionary spending and favourable demand-supply dynamics, particularly across Tier I cities.

Oriental Hotels Limited (OHL) reported a 20% decline in its consolidated net profit for the first quarter of FY2027, even as the company recorded steady growth in revenue during the period.

According to the company's stock exchange filing, net profit stood at ₹5.3 crore for the April-June quarter, compared to ₹6.6 crore in the corresponding quarter of the previous financial year.

Despite the decline in profit, revenue from operations increased 3% year-on-year to ₹111 crore, up from ₹108 crore reported in Q1 FY2026.

Following the earnings announcement, Oriental Hotels' shares came under pressure, falling nearly 6% during the trading session. The stock dropped to an intraday low of ₹125 after touching a high of ₹136.40 earlier in the day. It later recovered some of the losses and closed at ₹130.60 on the Bombay Stock Exchange (BSE), down ₹2.85 or 2.14%.

The company's stock currently trades below its 52-week high of ₹169, while its 52-week low stands at ₹80.50. Oriental Hotels has a market capitalisation of around ₹2,311 crore.

Commenting on the quarterly performance, Pramod Ranjan, Managing Director & CEO, Oriental Hotels Limited, said:

"OHL in the first quarter of FY2027 reported a steady performance with a EBITDA of Rs 26.6 crores. With extensive asset enhancement initiatives across the OHL portfolio and continued strength in domestic demand, the company is well-positioned to deliver a sustained performance in the quarters ahead."

An associate company of The Indian Hotels Company Limited (IHCL), Oriental Hotels operates a portfolio of seven properties, including Taj Coromandel, Chennai; Taj Fisherman's Cove Resort & Spa, Chennai; Taj Malabar Resort & Spa, Cochin; Vivanta Coimbatore; Vivanta Mangalore; Gateway Madurai; and Gateway Coonoor.