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If one goes by airline ticket prices, room rent and occupancy level of hotels it is very clear that what appeared as revenge traveling in early phases when covid get over has more to it. Both airlines and hotel prices have remained higher than normal in all seasons of the year, whether busy or off season. Going by the changed preferences and all the challenges right from tech aggregator and others, there is a good chance that large chains with asset light model along with own asset have high probability of doing well. ....
EIH, which runs hotels under the Trident and Oberoi brands, reported a net profit of Rs 106 crore and revenue of Rs 522.6 crore, up 26.7 percent from the year-ago period ....
With travel picking up, government efforts to boost connectivity as well as India hosting key international events, demand momentum should remain strong. IHCL expects the uptick in average room rates to continue. ....
The CBI has booked Arjun Singh Oberoi, director, Golden Jubilee Hotels, along with its CEO and managing director Laxmi Narayan Sharma, in connection with alleged cheating in a loan default of over Rs 1,285 crore in a consortium of seven banks led by the Bank of Baroda, officials said on Thursday. The agency has also carried out searches at various locations in Hyderabad in connection with the case, they added. Oberoi is also the managing director of EIH Limited, which runs hotel chains Oberoi, Trident and Maidens. Besides Oberoi and Laxmi Narayan Sharma, the Central Bureau of Investigation (CBI) has also named Neha Gambhir and Yashdeep Sharma in the case registered under the Indian Penal Code (IPC) sections related to criminal conspiracy and cheating, besides provisions of the Prevention of Corruption Act. ....