The hospitality chain further informed that for 18,000 sq meter plot over which it has built a five star hotel, the company has appointed an arbitrator after AAI notified their intention not renew it again.
"Our target is to double our visitor numbers from 10 million in 2012 to 20 million by 2020. India is our number one international source market now."
While F&B operations have always been a critical function at behemoths like ITC and Taj, chains like Lemon Tree said F&B’s contribution to total revenue has increased by over 16% in the current financial year to about 23%.
Several mall executives and DKNY store managers ET spoke to confirmed the development, though the head of its India franchisee, DLF Brands, denied the company was completely exiting the country.
For Taj Hotels the distinct experiences have been identified as in-room check-ins, lobbies designed as cozy living rooms, 24/7 services including breakfast, fitness centers, and spas.
Owned by the world’s top emeralds and rubies-miner Gemfields Plc., Faberge is the latest in a swelling list of global luxury brands such as Burberry and Rolex to enter India.
Yatra said it has an inventory of over 3000 homestays across 130 cities across India and that it intends to grow the segment by creating a sustainable eco-system.
Companies such as Carlson Rezidor are also expecting an increase in occupancies and room revenue this year. “All our budgets are about 10-12% higher than last year.
Google will be giving a high visibility to DJUBO's client hotels in exchange for a commission for Google on successful bookings.
According to JLL, most hotel transactions today are occurring at replacement, or a slight discount to replacement cost, keeping both the seller and the buyer content with the target price.
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