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By Manu Vardhan Kannan
Published on November 15, 2025
SpiceJet has announced its financial results for the quarter ended September 30, 2025 (Q2 FY26), reporting a consolidated net loss of INR 447.7 crore (ex-forex), compared to INR 424.26 crore in Q2 FY25. The airline attributed the results to recalibrating dollar-based obligations, carrying costs of grounded aircraft, and expenses related to the restoration of aircraft to service during the quarter.
Despite the traditionally weak monsoon period, SpiceJet maintained a strong Passenger Load Factor (PLF) of 84.3%, showcasing steady passenger demand. Passenger Revenue per Available Seat Kilometre (RASK) improved to INR 4.04 from INR 3.91 in the previous year, while EBITDAR (ex-forex) stood at INR (203.8) crore against INR (58.87) crore in Q2 FY25.
The airline also advanced its ambitious fleet ramp-up programme, finalising damp lease agreements for 19 aircraft and restoring two grounded aircraft to service. Under the winter 2025 schedule, SpiceJet plans to more than double its operational fleet and triple its Available Seat Kilometres (ASKM). It also became the first Indian airline to launch non-stop flights to Najaf, Iraq, expanding its daily operations to 250 flights — more than twice the summer schedule.
Financially, the airline strengthened its balance sheet through several key milestones. It secured a liquidity boost of $89.5 million following a settlement with Carlyle Aviation Partners, unlocking $79.6 million in cash maintenance reserves and $9.9 million in credits. SpiceJet also completed the full repayment of $24 million to Credit Suisse, improving its financial flexibility. The airline’s credit ratings were upgraded consecutively by Acuité (BB Stable) and CRISIL (A4+), reflecting growing confidence in its turnaround strategy.
SpiceJet also achieved zero Level 1 findings in DGCA safety audits over the past year and signed an interline agreement with Gulf Air to enhance international connectivity.
Ajay Singh, Chairman and Managing Director, SpiceJet, said, “The September quarter was a period of consolidation and groundwork for our next phase of growth. While the results reflect short-term costs related to fleet revival and expansion, these are strategic investments that will yield results from the current quarter onward. With aircraft additions and an expanding network, SpiceJet is on a clear trajectory towards stronger operational and financial performance in the second half of the year.”
He added, “Our load factor of over 84% underscores strong demand. With the winter schedule now live and high-yield routes in play, Q3 marks the start of a new chapter of scale, strength, and profitability for SpiceJet. We are also pleased to welcome Sanjay Kumar as Executive Director, his leadership will drive our next phase of transformation.”
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Published on February 25, 2026
Set amidst flowing river waters and open natural surroundings, Stone Water by Zuper has officially opened its doors, introducing a fresh destination escape near Mumbai. Designed as a Bali-inspired retreat, the resort blends nature, thoughtful architecture, luxury living, and recreation, positioning itself as a standout hospitality offering in Karjat.
The resort features 126 well-designed rooms spread across five distinctive categories, each created to offer a close connection with nature while maintaining modern comfort. Options range from The Whispering Brook, an earth-sheltered stay opening to sweeping river views, to The Cascade Private Pool Cottages, where warm lights glow through surrounding forest greens. Guests can also choose Silver Spring Pool Access rooms with direct pool entry, or the TwinLeaf Pool Cottage, ideal for families and groups seeking private poolside stays.
Dining is a key highlight at the property. A signature restaurant set beside a legacy old banyan tree offers relaxed open-air dining, while a stylish café and bar caters to casual indulgence. Adding to the experience is a boho-inspired pool bar overlooking the river, creating a lively yet laid-back setting for evenings with handcrafted cocktails. For events and celebrations, the resort offers two indoor banquet halls, a poolside lawn, and a large river-facing lawn designed for weddings, social gatherings, and grand occasions.
One of the resort’s most anticipated features is its upcoming exclusive river canopies, positioned right in the middle of the flowing river. These private spaces promise a rare stay experience, surrounded by panoramic views and the calming sound of water, making them truly one of a kind in the region.
Recreation is equally well thought out, with facilities including pickleball courts, paddle courts, bowling alleys, and other activity zones. The mix of leisure, adventure, and social spaces allows guests to strike the right balance between relaxation and energy-filled experiences.
Speaking at the launch, Mr. Ajay Badekar, Director of Stone Water by Zuper, said, "This is how dreams turn into reality. Stone Water Resort & Spa is a sanctuary of peace and serenity where guests can create their own moments rather than wait for someone else to make them. This is where nature and design co-exist in absolute harmony & it is not just a destination, but an experience designed to be cherished for a lifetime."
The property is managed by Zuper Hotels & Resorts, a well-known name in Maharashtra’s resort and boutique hospitality space. With over 14 years of experience, Zuper manages premium properties across the state and plays an active role in weddings, corporate events, and large-scale celebrations.
With its layered pools, river-centric design, luxury stays, and vibrant lifestyle offerings, Stone Water by Zuper marks a new chapter in experiential hospitality near Mumbai, offering guests an escape that feels immersive, refreshing, and memorable.
Suba Hotels Limited has announced the addition of three new properties under its popular Click Hotels brand. The newly signed hotels will be located in Hyderabad, Ujjain, and Visakhapatnam. With these signings, the company now manages a total of 35 hotels under the Click Hotels portfolio.
Sharing his thoughts on the expansion, Managing Director Mansur Mehta said, "Our brand Click Hotels has been gaining a lot of popularity and acceptance with both guests and owners. We are extremely happy with the response, and the entire team at Suba Hotels will strive hard to ensure that the Click Hotels brand receives more recognition and accolades from everyone."
Commenting on the milestone, CEO Mubeen Mehta congratulated the team and said, "I congratulate the entire team on such a wonderful achievement. It truly shows the utmost commitment of the team. Such results are possible due to dedicated teamwork." He further added that this growth reflects the steady and fast-paced expansion of the Suba Group.
Providing more details about the newly signed properties, VP Operations Abinash Ashok said, "The Click Hotel, Gachibowli, Hyderabad, is a 48-room property and is being developed in association with Multiverse Hotels. The Click Hotel, Ujjain, comprises 53 rooms, and The Click Hotel, Visakhapatnam, is a 32-room hotel developed in association with Abhiram Hotels & Resorts and Indus Group."
Suba Hotels is among India’s largest and fastest-growing domestic hotel chains in the mid-market space. The company operates across upscale, upper midscale, midscale, and economy segments. With a strong presence in Tier 2 and Tier 3 cities, Suba Hotels continues to grow through smart market strategies, an asset-light approach, and a focus on delivering quality guest experiences at accessible price points.
Published on February 24, 2026
United Hospitality Management (UHM), a global leader in luxury and mixeduse hospitality management, has entered into a franchise agreement with IHG Hotels & Resorts for Garner Bhidawi. This signing forms a key part of UHM’s ambi;ous growth plans in India and follows its recent acquisition of the boutique brand Rosastays.
United Hospitality Management – India will manage the 45-key hotel, which is scheduled to open in 2027. The property, to developed by Modest Structures Private Limited, will offer modern rooms suited for both short and extended stays, focusing on delivering quality hospitality at an accessible price point. With this addition, Garner Bhidawi becomes the fourth Garner brand property in India. Garner is a midscale conversion brand that prioritises comfort and meaningful experiences.
UHM formally entered the Indian market in Q4 2025 through the acquisition of Rosastays. This move significantly strengthened the group’s footprint in the country, adding 17 opera;onal proper;es across key leisure destinations including Goa, Kasauli, Nainital, Pushkar, and Shimla.
Commenting on the development, Deepika Arora, Managing Director, United Hospitality Management – India, said:
“Our focus in India is on building a diversified and future-ready hospitality portfolio through strategic partnerships and disciplined management. The addi;on of Garner Bhiwadi strengthens our presence in emerging industrial and business corridors, while allowing us to apply United Hospitality Management's opera;onal exper;se to a format that delivers strong owner returns and consistent guest experiences.
As we expand following our entry into the Indian market, we are selectively identifying locations where professional management, global brand systems and local market understanding can collectively unlock long-term value. Garner Bhiwadi reflects this approach and reinforces our commitment to scaling thoughtfully across key growth markets.”
With more than 30 years of exper;se and over USD 1 billion in assets under management, UHM oversees a growing global portfolio across Europe and the Middle East. Its portfolio includes partnerships with global brands such as Marriott, Accor, Hyatt, and Wyndham, along with its own lifestyle ecosystem featuring over 20 specialty food and beverage brands and the award-winning wellness brand, ‘Serenity – The Art of Well Being’.
IHG’s newest midscale conversion brand, Garner, builds on the group’s leadership in the midscale segment. It offers quality stays at an accessible price point, designed around relaxed and flexible experiences. Garner is aimed at value-conscious travellers who priori;se comfort and meaningful experiences, supported by IHG’s global enterprise systems and rewards programme.
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