India’s Tourism Sector To Generate Over $59 Bn By 2028, Reveals Report
More money in people’s pockets and better transport are leading to record trips within the country and more foreign visitors for luxury and cultural stays
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Apeejay Surrendra Park IPO Open For Subscription, Aims To Raise Rs 920 Cr
- by BW Retail World Bureau
- February 6, 2024
The first mainboard initial public offering (IPO) of the month, Apeejay Surrendra Park opened for the public subscription on 5 February in an attempt to raise Rs 920 crore with the combination of fresh issuance and offer-for-sale (OFS) component. The issue raised Rs 409 crore in the anchor round on 2 February, whereas the retail […]
Food & Beverage.
Interviews
National
News
We Appeal For Restoration Of Input Tax Credit For GST In Restaurant Industry: Zorawar Kalra, Massive Restaurants
- by Poonam Singh
- January 20, 2024
In an interview with BW Businessworld, Zorawar Kalra of Massive Restaurants speaks about how his father, Jiggs Kalra, inspired him throughout his journey and requests the government to restore input tax credit for GST in the restaurant industry What are your expectations from this budget, considering it’s an interim budget with elections around the corner? […]
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Finance
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Oyo To Prepay Rs 1,620 Cr Debt Through Buyback Process
- by BW Retail World Bureau
- November 15, 2023
Oyo has unveiled plans to prepay a substantial portion of its debt totaling Rs 1,620 crore through a buyback process. The company, on the brink of an IPO, is set to repurchase 30 per cent of its outstanding Term Loan B (TLB), the company revealed to Bloomberg. The debt repayment, slated for June 2026, follows […]
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Oyo Revenue Surges, Loss Narrows As Company Moves Closer To IPO
- by BW Retail World Bureau
- October 27, 2023
Hospitality leader Oyo, headed by Ritesh Agarwal, has reported a significant increase in revenue and a narrowed loss for fiscal year 2023 as it moves closer to a public listing. In FY23, Oyo, formally known as Oravel Stays, recorded consolidated revenue from operations of Rs 5,463.9 crore, compared to Rs 4,781.3 crore in FY22. The […]
Brands
Food & Beverage.
News
Retail
L’Opera To Open Art Café, Bringing Together Art And Coffee In Unique Experience
- by Amisha Sharma
- October 4, 2023
The era of sipping artisanal coffee has seamlessly merged with the realm of art, transforming cafes into havens for artists to not only unwind but also expand their creative horizons. Art cafés are places that combine a traditional café with an art gallery or creative space. These spaces offer a unique and relaxing atmosphere for […]
Companies
News
Reliance Industries and Oberoi Hotels To Jointly Manage Three Properties In India, UK
- by BW Retail World Bureau
- August 25, 2023
Reliance Industries on Thursday announced that it has entered into an understanding with The Oberoi Hotels and Resorts (Oberoi) to jointly manage three properties across India and the UK. The trio of properties includes the upcoming Anant Vilas Hotel situated in Mumbai’s Bandra Kurla Complex (BKC), the iconic Stoke Park in the UK, and another […]
News
Icra Expects Indian Hotel Industry To Grow By 13-15% In FY2024
- by BW Retail World Bureau
- July 20, 2023
The rating agency Icra estimated pan-India premium hotel occupancy at 70 to 72 per cent in FY2024, after recovering to 68 to 70 per cent in FY2023. Pan-India premium hotel average room rates (ARRs) are expected to be at Rs 6,000 to 6,200 in FY2024. While the occupancy is expected to be at decadal highs, […]