Elan Group Signs Ramada Encore By Wyndham With AS Hotels & Residences
Elan Group has leased out approximately 1.2 lakh square feet (sq ft) of space to AS Hotels and Residences for the hotel
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ITC Q3 Profit Rises 6.5%, FMCG Drives Growth
- by BW Retail World Bureau
- January 30, 2024
ITC on Monday reported a 6.51 per cent increase in consolidated net profit to Rs 5,400.51 crore for the December 2023 quarter due to a resilient performance by the FMCG vertical compared to a consolidated net profit of Rs 5,070.09 crore in the October-December period a year ago, according to the regulatory filing. Its gross revenue […]
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ITC To Boost RoCE By Up To 20% After Demerger of Hotels Business
- by BW Retail World Bureau
- July 29, 2023
ITC, in a bid to address investor concerns over the demerger of its hotels business, has outlined plans to boost its Return on Capital Employed (RoCE) by up to 20 per cent. The company aims to ensure that the new entity, ITC Hotels, maintains a well-capitalised, debt-free balance sheet. The demerger is designed to benefit […]
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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, […]