Sector Hotels, Restaurants & Tourism - Latest news, views and updates

SECTOR | 24 Jun 2024

Oyo opens first luxury hotel in Dubai, eyes boosting premium properties

Business Standard

Travel tech platform OYO on Monday announced the opening of its first luxury hotel in Dubai -- Palette Royal Reflections Hotel and Spa -- as the IPO-bound unicorn eyes strengthening its premium property portfolio globally. The company expects the number of Indian tourists to grow significantly in 2024 after Dubai relaxed visa policy for them earlier this year. "OYO is expecting more than 1 lakh Indian tourists to visit Dubai this year. Dubai has long been a favourite destination for Indian travellers, thanks to its luxury shopping, stunning architecture, and vibrant culture. The launch comes as the emirate prepares to welcome a record number of Indian tourists in 2024," OYO stated. The initiative is part of OYO's ongoing efforts to strengthen its premium property footprints across the world, including the Middle East. OYO has over 700 properties in the UAE, including over 200 only in Dubai, the company said. India is the biggest source country for Dubai tourism. The country ranked

IDBI Capital released a Sector Update report for Hotels, Restaurants & Tourism on 04 Sep, 2025.

Hotels, Restaurants & Tourism

SECTOR | 22 Jun 2024

MP to develop places linked to Lord Ram, Lord Krishna as pilgrim sites: CM

Business Standard

The Madhya Pradesh government will develop the places associated with Lord Ram and Lord Krishna in the state as pilgrimage sites, Chief Minister Mohan Yadav has said. The government has also decided to construct welcome gates dedicated to these deities at the entry points of state capital Bhopal, he said. CM Yadav issued directives to this effect during a review meeting of the Culture and Tourism Department on Friday, an official said. "The Madhya Pradesh government will identify the places associated with Lord Ram and Lord Krishna in the state and develop them as pilgrimage sites," Yadav said. He directed the department to construct welcome gates dedicated to Lord Rama and Lord Krishna at the entry points of Bhopal city and also make plans to set up entry gates dedicated to Raja Bhoj, an 11th century king from the Paramara dynasty, and Vikramaditya, a legendary king mentioned in Indian literature. Yadav also gave directions to officials to build entry gates at the state boundarie

IDBI Capital released a Sector Update report for Hotels, Restaurants & Tourism on 04 Sep, 2025.

Hotels, Restaurants & Tourism

SECTOR | 20 Jun 2024

7.4 mn tourists visit HP till May, hike by 3.5%; Solan surpasses Shimla

Business Standard

With over 74 lakh tourists visiting Himachal Pradesh till May this year, the tourist footfall has increased marginally by 3.5 per cent as compared to the corresponding period last year. A total of 74,64,184 tourists including 32,415 foreign tourists visited the state till May end as compared to 72,02,956 tourists including 23,174 foreign tourists in the same period last year, an increase of 3.5 per cent, said Tourism and Civil Aviation Director Manasi Sahay Thakur. "Efforts are afoot to improve inter and intra state connectivity through construction of heliports. Major focus is on infrastructure development like creating wayside amenities besides opening wellness centres, construction of ice skating rinks, promoting eco and adventure tourism with the funding of Asian development Bank (ADB)," she told the PTI. Private players are also engaged in advance to ensure sustainability of tourism projects and the results will be visible in the next three years, she added. Surprisingly,...

IDBI Capital released a Sector Update report for Hotels, Restaurants & Tourism on 04 Sep, 2025.

Hotels, Restaurants & Tourism

SECTOR | 20 Jun 2024

Sula Vineyards aims for double-digit growth aided by premiumisation shift

Business Standard

Tourism potential huge: expansion underway at all vineyards

IDBI Capital released a Sector Update report for Hotels, Restaurants & Tourism on 04 Sep, 2025.

Rajasthan govt to boost religious tourism by enhancing temple towns, infra

Business Standard | 20 Jun 2024

Hotels, Restaurants & Tourism

SECTOR | 17 Jun 2024

OYO in talks to raise Rs 1,000 crore from family offices; EGM expected soon: Report

Business Today

The proposed round is expected to value OYO at around $2.5 billion, which is still a far call from its 2021 valuation of $9 billion.

IDBI Capital released a Sector Update report for Hotels, Restaurants & Tourism on 04 Sep, 2025.

Hotels, Restaurants & Tourism

SECTOR | 16 Jun 2024

Tourist footfall hits 10 mn in Goa; no let up even in monsoon: Minister

Business Standard

The number of visitors to Goa has increased in the just-concluded tourist season and touched the one crore-mark, Tourism Minister Rohan Khaunte has said, dismissing perception of the footfall going down in the coastal state. There has also been a rise in the number of international tourists, which is 150 per cent more than the pre-COVID-19 figures, Khaunte told PTI in an exclusive interview here on Saturday. He, however, admitted there was competition to Goa from other states in the country as well as international players. The official tourist season ends in Goa in June with the onset of monsoon and resumes in September. The state has continued to receive tourists even during the monsoon season, the minister said. "In the monsoon, there is 80 per cent occupancy of hotels in Goa. People flock to Goa during the monsoon as they have realised that Goa is not only about the beaches, he said. Asked about the perception of there being a dip in the number of tourists to Goa, Khaunte sai

IDBI Capital released a Sector Update report for Hotels, Restaurants & Tourism on 04 Sep, 2025.

Hotels, Restaurants & Tourism

SECTOR | 15 Jun 2024

New Tourism Policy To Attract Investments, Says Karnataka Deputy CM Shivakumar

NDTV Profit

He said the government will also be inviting new tenders for a sky deck (an observation deck) in Bengaluru.

IDBI Capital released a Sector Update report for Hotels, Restaurants & Tourism on 04 Sep, 2025.

Hotels, Restaurants & Tourism

SECTOR | 14 Jun 2024

Praveg - Pioneer In Experiential Tourism: Anand Rathi

NDTV Profit

Most of the company's projects are on leased land with contract renewals varying from five to 30 years

IDBI Capital released a Sector Update report for Hotels, Restaurants & Tourism on 04 Sep, 2025.

Hotels, Restaurants & Tourism

SECTOR | 14 Jun 2024

Kuwait fire: EAM did good job to help injured Indians, says Suresh Gopi

Business Standard

Union Minister of State Suresh Gopi on Friday said that the External Affairs Ministry did a "wonderful" job in coordinating the efforts to ensure treatment of the Indians injured in the Kuwait fire tragedy which claimed atleast 49 lives. The Minister of State for Tourism and Petroleum also said that he has cancelled his other programmes for the day and would be going to the international airport here to receive the bodies of the Malayalees who died in the Kuwait fire tragedy. Meanwhile, Kerala Revenue Minister K Rajan told reporters here that the bodies of 23 Malayalees, 7 Tamilians and one person from Karnataka would be received here, before the flight carrying the mortal remains of the other Indians who died in the fire goes to Delhi. Rajan said that arrangements have been made for public display of the mortal remains at the airport and thereafter, they would be sent to the families by ambulances that have been arranged by the Department of Non-Resident Keralites' Affairs...

IDBI Capital released a Sector Update report for Hotels, Restaurants & Tourism on 04 Sep, 2025.

Hotels, Restaurants & Tourism

SECTOR | 13 Jun 2024

Disney, Florida Governor end feud with deal on 15-year expansion plan

Business Standard

Under the agreement with the Central Florida Tourism Oversight District, Disney said it would spend at least $8 billion at the resort over a decade with a total of $17 billion invested over 10-20 year

IDBI Capital released a Sector Update report for Hotels, Restaurants & Tourism on 04 Sep, 2025.