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By Nithyakala Neelakandan
Published on July 17, 2024
The Olympics is one of the global events that can significantly boost both travel and advertising sectors. This year, spending on advertisements for events such as the Super Bowl, Olympics, and European Championship is projected to hit $61 billion. These events not only increase ad revenues but also drive substantial travel demand. For instance, flight bookings to Singapore surged by 63% before the F1 Grand Prix, and trips to Qatar were booked well in advance of the 2022 FIFA World Cup. Such events also maintain interest in host destinations long after they conclude. Following the Qatar World Cup, international lodging searches in the country rose by 79-255%.
Similarly, scheduled from July 26 to August 11, 2024, the Olympics is expected to attract 10,500 athletes from 206 countries, marking the largest event ever hosted in France.
Paris Sees a Spike in Flight Bookings
Paris is already a top tourist destination, with 6.3 million visitors to the Eiffel Tower in 2023 alone. The upcoming Olympics are set to enhance this popularity. Since tickets for the 33rd Olympic Games went on sale on November 30, 2023, flight bookings to Paris have increased by 125% compared to the same period last year. Most travelers plan to depart the city as soon as the Olympics end, suggesting many come from countries like the United States, where extended leave is uncommon. The average trip length has shortened to 11 days from 13.2 days in 2023, indicating that the games are influencing travel plans.
Paris remains a favorite summer destination, especially for American travelers. During the Olympic period, 23.8% of flight bookings to Paris are from the United States, followed by Canada, the United Kingdom, Japan, and Spain. The U.S. also led the medal counts in the 2016 and 2020 Olympics, likely contributing to the high demand.
Leveraging Increased Travel Demand
Destination Marketing Organizations (DMOs) can benefit from the heightened travel interest by using continuous, multichannel marketing strategies. Noreen Henry, Chief Revenue Officer at Sojern, said “By using the right channels throughout the year—not just seasonally—DMOs can reach travelers in the moment and inspire them to think beyond sporting events. Not only do always-on, multichannel campaigns give DMOs better insights, but these types of campaigns enable them to maximize their budgets, do more with less, and get in front of travelers at every stage of the planning cycle.”
Travel Data from Amadeus Shows Significant Increases
Amadeus, a leading provider of travel technology, also reports a surge in travel interest. As of June 6, 2024, international air travel to France is up 56% for the Olympic period from July 24 to August 13. Domestic air travel within France has increased by 31%. Paris, in particular, is expecting 72% more travelers than the same period last year. The Paralympics, from August 28 to September 8, will boost travel to Paris by 16%, especially from the United States, Spain, and Canada.
Lille, hosting basketball and handball events, anticipates a 203% increase in visitors compared to last summer, with domestic travel growing by 300% and international travel by 181%. Bordeaux, hosting football, and Marseille, hosting sailing and football, also see significant increases in bookings, both up by 38%.
With the Olympics approaching, the hospitality sector in France is gearing up for a busy season, driven by substantial increases in both international and domestic travel bookings.
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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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