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By Nishang Narayan
Published on July 25, 2024
The Union Budget 2024-25 has garnered a positive response from the tourism and hospitality sector, with key industry figures applauding the government's initiatives. Mr. SP Jain, Chairman and Founder of Pride Hotels Group, shared his perspective on the budget's impact.
SP Jain's Viewpoint:
"We warmly welcome the budget announced today by Finance Minister Nirmala Sitharaman. The government's focus on the tourism industry, especially the development initiatives for Jharkhand, Odisha, and the North East, is commendable. The special emphasis on Rajgir and Nalanda will undoubtedly enhance religious and cultural tourism, creating new opportunities for growth and community engagement. In 2023, India's tourism sector attracted over 9 million foreign tourists, marking a remarkable growth rate of over 40% year-on-year. The budget's commitment to enhancing spiritual tourism, particularly through the development of significant sites like Bodh Gaya and the Vishnupada Temple, is a strategic move that promises substantial economic benefits for the regions involved. However, we had hoped that the Honorable Minister would grant infrastructure status to the hospitality industry. As a highly capital-intensive sector, our industry requires significant investments, and the initial 3-4 years often yield no profits due to high-interest loans from banks. Granting infrastructure status would enable us to access loans at lower interest rates, facilitating the development of more hotels and improving the quality of facilities offered. This is essential to attract both Indian and international tourists and to support the overall development of our industry," said Mr. SP Jain, Chairman and Founder, Pride Hotels Group.
"We warmly welcome the budget announced today by Finance Minister Nirmala Sitharaman. The government's focus on the tourism industry, especially the development initiatives for Jharkhand, Odisha, and the North East, is commendable. The special emphasis on Rajgir and Nalanda will undoubtedly enhance religious and cultural tourism, creating new opportunities for growth and community engagement.
In 2023, India's tourism sector attracted over 9 million foreign tourists, marking a remarkable growth rate of over 40% year-on-year. The budget's commitment to enhancing spiritual tourism, particularly through the development of significant sites like Bodh Gaya and the Vishnupada Temple, is a strategic move that promises substantial economic benefits for the regions involved.
However, we had hoped that the Honorable Minister would grant infrastructure status to the hospitality industry. As a highly capital-intensive sector, our industry requires significant investments, and the initial 3-4 years often yield no profits due to high-interest loans from banks. Granting infrastructure status would enable us to access loans at lower interest rates, facilitating the development of more hotels and improving the quality of facilities offered. This is essential to attract both Indian and international tourists and to support the overall development of our industry," said Mr. SP Jain, Chairman and Founder, Pride Hotels Group.
The Union Budget 2024-25 is set to enhance India's tourism landscape significantly. With targeted investments in key spiritual and cultural sites and a focus on regional development, the budget aims to boost tourism, create jobs, and stimulate economic growth. Industry leaders like SP Jain appreciate these efforts but continue to advocate for infrastructure status to further support the sector's growth.
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By Manu Vardhan Kannan
Published on September 14, 2025
Royal Caribbean Group (NYSE: RCL) has announced a significant increase in its shareholder returns, declaring a 33% hike in its quarterly dividend. The company’s Board of Directors approved a dividend of $1.00 per common share, payable on October 13, 2025, to shareholders of record at the close of business on September 25, 2025.
Jason Liberty, President and CEO of Royal Caribbean Group, said the move underscores the company’s confidence in its performance and long-term growth strategy. “Today’s dividend increase reflects both the strength of our performance and our commitment to return capital to shareholders. This increase in dividend, along with our ongoing share repurchase program, highlights our balanced approach to capital allocation, returning value to shareholders while funding future growth,” Liberty stated.
Royal Caribbean Group is a global leader in the vacation industry, operating a fleet of 68 ships across five brands that serve millions of guests annually. Its portfolio includes Royal Caribbean International, Celebrity Cruises, and Silversea, as well as land-based experiences such as Perfect Day at CocoCay and the Royal Beach Club collection. The company also holds a 50% joint venture in TUI Cruises, which manages brands like Mein Schiff and Hapag-Lloyd Cruises.
With a reputation for innovation and guest-focused experiences, Royal Caribbean Group continues to expand its global footprint while maintaining its commitment to responsible and sustainable growth.
Published on August 18, 2025
Apeejay Surrendra Park Hotels Limited (ASPHL) announced its financial results for Q1 FY26, recording a net profit of Rs 13 crore. Revenue from operations stood at Rs 154 crore, a 14% increase year-on-year, while operating EBITDA grew 16% YoY to Rs 45 crore. The company maintained an industry-leading occupancy of 92%, reaffirming its leadership in the hospitality sector.
ASPHL’s growth is fueled by expansion into Tier 2 and Tier 3 markets. The company recently signed an MoU to acquire and manage four leisure properties in Goa, Manali, Shimla, and Dharamshala, adding 138 rooms under its brand. These steps align with ASPHL’s strategy to broaden its presence in high-potential tourism destinations and double its key count to 5,750 over the next five years.
Flurys, ASPHL’s iconic bakery and confectionery brand, now operates 102 outlets nationwide, reflecting the company’s focus on expanding its market presence while integrating modern amenities with rich cultural heritage.
Commenting on the performance, Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels, said,
"We have delivered an extraordinary and best-ever Q1, setting a strong momentum for the year ahead. With topline growth of 14% and EBITDA growth of 16%, we recorded India’s highest occupancy of 92% and maintained leadership in RevPAR in the upper-upscale segment. ARR improved by 13% and RevPAR increased by 12%. With nearly 600 new rooms added, including a 41% rise in our asset-light model, and nationwide Flurys rollout, we are poised to scale faster, enhance margins, and deliver exceptional shareholder value."
ASPHL’s strong performance in Q1 FY26 underscores its strategic focus on market expansion, operational excellence, and premium guest experiences.
Published on August 10, 2025
Marriott International, Inc. has declared a quarterly cash dividend of 67 cents per share on its common stock, reaffirming its commitment to delivering shareholder value. The dividend will be paid on September 30, 2025, to shareholders who are on record as of August 21, 2025.
Alongside the dividend announcement, the hospitality giant also revealed an expansion of its share repurchase program. The board of directors has authorized the repurchase of an additional 25 million shares of its Class A common stock. This comes in addition to the approximately 7.4 million shares that were still available under previous authorizations as of July 30, 2025.
Marriott has already bought back 6.4 million shares this year, amounting to $1.7 billion. These moves reflect the company’s continued confidence in its financial stability and long-term performance, aiming to strengthen shareholder value through strategic capital allocation.
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