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By Nithyakala Neelakandan
Published on July 22, 2024
Preferred Hotels & Resorts, the world’s largest independent hotel brand, has announced a new partnership with Virgin Limited Edition, adding nine ultra-luxury retreats to its prestigious Legend Collection. Effective immediately, these properties, known for their exquisite settings and exceptional service, are available on the Preferred Hotels & Resorts website.
The new additions include Mont Rochelle (South Africa), Necker Island (British Virgin Islands), The Lodge (Switzerland), Ulusaba (South Africa), Mahali Mzuri (Kenya), Son Bunyola Hotel & Villas (Spain), The Branson Beach Estate (British Virgin Islands), Kasbah Tamadot (Morocco), and Finch Hattons Luxury Safari Camp (Kenya). These properties join the Legend Collection, which is celebrated for offering sophisticated accommodations, intuitive service, renowned dining, and exceptional spas in some of the world’s most remarkable destinations.
This partnership builds on the strategic alliance formed in 2022 between Preferred Hotels & Resorts and Virgin Hotels Collection, which saw several Virgin Hotels locations join the Preferred Hotels & Resorts’ L.V.X. Collection. As the Virgin Hotels Collection portfolio continues to grow, more hotels, including the recently announced Virgin Hotels London-Shoreditch, will join Preferred Hotels & Resorts.
"We are thrilled to expand our strategic partnership with Virgin Limited Edition, bringing some of the world's most extraordinary properties into our esteemed Legend Collection," said Lindsey Ueberroth, CEO of Preferred Travel Group. "This collaboration underscores our mutual commitment to delivering unparalleled, personalized guest experiences and promotes transformational travel. For instance, guests at Ulusaba Private Game Reserve in South Africa can engage in life-changing wildlife safaris, while those at Kasbah Tamadot in Morocco can immerse themselves in the rich local culture through community projects and artisanal workshops. Each of Virgin Limited Edition's unique, luxury retreats offer distinctive opportunities for guests to embark on profound, meaningful journeys."
James Bermingham, CEO of Virgin Hotels Collection, said, "We are delighted to be introducing our unique Virgin Limited Edition retreats into Preferred Hotels & Resorts’ prestigious Legend Collection, further strengthening our successful partnership. This opportunity aligns perfectly with our strategy for careful growth and will allow us to bring Virgin Limited Edition’s ultra-luxury offering to even more travelers looking for incredible experiences around the globe."
Virgin Limited Edition properties offer distinctive opportunities for guests to embark on profound, meaningful journeys. For example, visitors to Ulusaba Private Game Reserve in South Africa can enjoy life-changing wildlife safaris, while guests at Kasbah Tamadot in Morocco can immerse themselves in local culture through community projects and artisanal workshops.
All Virgin Limited Edition properties now have access to Preferred Hotels & Resorts' expertise in leisure, corporate, and group sales, as well as innovative marketing and distribution solutions. Additionally, these properties will participate in the I Prefer Hotel Rewards program, which offers points redeemable for cash-value Reward Certificates, Titanium status, and other valuable benefits from eligible stays at over 600 participating hotels and resorts worldwide.
Travelers can book stays at any of the Virgin Limited Edition properties through the Preferred Hotels & Resorts website. Travel advisors and agents can book client stays using the “VL” and “PV” chain codes in the Global Distribution System (GDS).
About Preferred Hotels & Resorts
Preferred Hotels & Resorts represents more than 600 distinctive hotels, resorts, residences, and unique hotel groups across 80 countries. The brand connects discerning travelers to unique luxury hospitality experiences tailored to their preferences. Each property within the portfolio meets high standards of quality and service as required by the Preferred Hotels & Resorts Integrated Quality Assurance Program. The I Prefer™ Hotel Rewards program, Preferred Residences℠, Preferred Pride℠, and Preferred Golf™ offer valuable benefits for travelers seeking unique experiences. For more information, visit Preferred Hotels & Resorts.
About Virgin Limited Edition
Virgin Limited Edition is Sir Richard Branson's collection of unique, ultra-luxury retreats located in some of the most breathtaking settings in the world. The group includes properties such as Necker Island, The Branson Beach Estate, Ulusaba Private Game Reserve, Kasbah Tamadot, The Lodge, Mahali Mzuri, Finch Hattons, Mont Rochelle, and Son Bunyola Estate.
Image Credit: Virgin Limited Edition
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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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