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Resolution pro suspended over 'related-party deals'"The DC (disciplinary committee) notes that no document is available to detail the objective criteria adopted in the process of the selecti...- 270 branded hotels temporarily shut in India due to second COVID-19 waveWhile a sudden rebranding or a takeover does not happen due to the tortious interference clause in global hotel contracts, some hoteliers a...
- Hotels see more cancellations, fewer bookings all over againIndian Hotels Company said Maharashtra was witnessing more cancellations and loss of business currently and this was also due to the restri...
- Total room inventory occupancy for hotels in India stood at 29% in 2020: STRHotel occupancy rates in Mumbai for 2020 stood at 39%, New Delhi at 36%, Chennai at 32% and Hyderabad at 29%. Hotels in Bengaluru ended the...
- Fresh COVID-19 wave, accompanying curbs could affect hospitality sector's recoveryThe surge in infections in markets such as Delhi, Mumbai, Goa, Himachal Pradesh, Rajasthan and Gujarat, and travel curbs and curfews come a...
- As India gradually opens up, travellers begin to check in for leisure travelAccording to a survey done by ixigo with over 5,000 users in September, 21% of the respondents said that they were travelling for a workati...
- Recovery for Indian hotels slow, occupancy rate at around 24% in first week of SeptemberDemand for quarantine rooms which had been aiding hotel occupancy growth across major markets in India is now slowing down.
- Vande Bharat Mission remains key demand generator for hotels in June and JulyHVS estimates about 25-30% of the 3.5- 4 lakh direct employees for the organised sector have already lost jobs and a similar number has bee...
- Resurgence in cases likely to keep most hotel rooms lockedThe hospitality consultancy said demand has not yet revived because corporate travel is on a standstill. Leisure travel has also not seen a...
- Despite curbs being eased, recovery for India's hospitality sector looks dismal and bleakAs per HVS, demand has not yet revived because corporate travel is on a standstill. Leisure travel has also not seen any uptick in states w...
- NCLT allows 16 days to examine Thriveni's revised offer for Lanco InfratechThe CoC could not examine the revised plan from the Tamil Nadu-based firm it received it on May 2, just two days before the deadline to com...
- IPR of Lanco Infratech awaits tribunal decisionLanco said the earlier plan received less than 75% of votes from the creditors and as the CIRP period expires tomorrow, the IPR sought the ...
- 4 minnows bid for Lanco Infra, banks fear steep haircutThe resolution professional has not asked for a minimum capital requirement from applicants to be eligible to submit a resolution plan.
- NCLT says no to Deloitte’s Vijaykumar V Iyer as IRP in Rs 44,000 crore Lanco Infratech caseThe court has appointed Savan Godiawala as IRP based on the recommendation made by IDBI Bank which has initiated the bankruptcy proceedings.
- Textile industry seeks a policy boostIt's a mix of challenges and opportunities in store for the Indian textile industry that contributes 12% to the country's total exports and...
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