Sun Estates Developers to Invest $120 Million in Goa Expansion

Sun Estates Developers to Invest $120 Million in Goa Expansion

By Nishang Narayan

Published on April 29, 2024

Sun Estates Developers, a prominent hospitality developer in India, is gearing up to expand its presence in Goa with an investment plan totaling approximately Rs10 billion ($120 million), as reported by The Economic Times.

The ambitious expansion initiative entails the development of seven hotels and 500 branded all-suite service apartments in North Goa. Each hotel, strategically located within 800 to 900 meters from the beach, will offer a minimum of 75 to 80 keys and feature amenities such as outsourced restaurants, spas, and gyms. These properties will be operated by major hotel chains, enhancing the overall guest experience.

In addition to the hotels, Sun Estates Developers plans to introduce ten boutique mansions, each offering 20 to 25 keys with exclusive services like private swimming pools and jacuzzis. Moreover, the company aims to construct five-star luxury hotels with 300 keys, out of which 150 will provide stunning ocean views. These luxury hotels will boast facilities such as ballrooms and casinos, adding to the allure of the Goa tourism landscape.

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To facilitate the land acquisition process for these ambitious projects, Sun Estates Developers is considering the creation of special purpose vehicles (SPVs), allowing investors to directly participate in the development process. The company anticipates that the new ventures will generate revenues of approximately Rs3 billion ($36 million) in their first year of operation.

Suraj Morajkar, Managing Director of Sun Estates Developers, expressed enthusiasm about the expansion plans, stating, “We are thrilled to unveil our extensive plans for hospitality expansion in Goa. With our track record of success and commitment to excellence, we are confident that these projects will set new benchmarks in luxury hospitality, further enhancing Goa’s appeal as a premier tourist destination.”

Morajkar further highlighted the company's dedication to securing strategic investments, emphasizing its commitment to fueling growth and innovation in the hospitality sector and realizing its ambitious vision for Goa's tourism landscape.

The expansion projects are expected to have a completion timeline of three to three and a half years, contributing significantly to Goa's tourism sector and economy.


Royal Caribbean Group raises dividend by 33% to $1 per share

Royal Caribbean Group raises dividend by 33% to $1 per share

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.


Apeejay Surrendra Park Hotels Reports Rs 13 Crore Net Profit in Q1 FY26

Apeejay Surrendra Park Hotels Reports Rs 13 Crore Net Profit in Q1 FY26

By Manu Vardhan Kannan

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.


Marriott Announces Dividend and Expands Share Buyback Plan

Marriott Announces Dividend and Expands Share Buyback Plan

By Manu Vardhan Kannan

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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