Travel and Hospitality News and Trends: 05 - 23 Feb 2023

Business Operations

IHCL Plans Major Expansion by 2030

IHCL announced plans to more than double its footprint to over 700 properties by 2030, aiming to double its consolidated revenue to ?150 billion. This expansion will focus primarily on the Indian subcontinent and will be funded through internal accruals.

?? Read more: Reuters

Demand in Indian Hospitality Sector to Outpace Supply

A report by Yes Securities indicates that demand in the Indian hospitality sector will outpace supply over the next 3-4 years, with an expected demand CAGR of 10.4% compared to a supply CAGR of 9%. This trend is attributed to a sharp post-pandemic rebound and sustained momentum in the sector.

?? Read more: Tribune India

IHG Acquires Ruby Brand, Targets Global Expansion

InterContinental Hotels Group (IHG) has acquired the Ruby brand and related intellectual property from Ruby SARL for approximately $116 million. Ruby, known for its premium urban lifestyle hotels in key city destinations, becomes IHG's 20th brand. IHG plans to rapidly expand Ruby's presence globally, offering hotel owners space-efficient designs and flexible concepts.

?? Read more: Travel Trade Journal

Chalet Hotels to Acquire Westin Resort & Spa, Rishikesh

Chalet Hotels announced plans to acquire the Westin Resort & Spa in Rishikesh for ?530 crore. This acquisition aligns with the company's strategy to expand its luxury resort portfolio in key leisure destinations.

?? Read more: BW Hotelier

IHCL to Invest ?2,500 Crore in New Mumbai Taj Hotel

IHCL is set to add another 'Taj' hotel in Mumbai with an investment of ?2,500 crore. The upcoming Taj Bandstand will feature 330 rooms, 85 apartments, and convention spaces, with construction expected to commence in 2025.

?? Read more: Business Standard

India's Branded Hotel Rooms Inventory to Cross 300,000 by 2029

India’s hospitality sector is witnessing rapid growth, with the total number of branded hotel rooms expected to surpass 300,000 by 2029. This expansion is fueled by increasing demand for premium accommodations, a post-pandemic tourism boom, and substantial investments by leading hospitality chains such as IHCL, Marriott, and Hilton. The rise in domestic and international travel, coupled with government initiatives to boost tourism infrastructure, is further accelerating this trend.

?? Read more: Live Mint

Travel and Tourism to Benefit from IT Exemption of Up to ?12 Lakh

Union Minister Gajendra Singh Shekhawat stated that the travel and tourism sector will significantly benefit from the recent increase in income tax exemption up to ?12 lakh. Speaking at the SATTE Travel & Tourism Expo, he emphasized that higher disposable incomes will encourage more domestic travel and boost the industry. Shekhawat also highlighted the government's commitment to supporting tourism through favourable policies and infrastructure development.

?? Read more: Economic Times Hospitality

Technology

Artificial Intelligence Enhancing Travel Experiences

Artificial Intelligence (AI) is transforming the travel industry by providing hyper-personalized experiences, optimizing bookings, and streamlining customer interactions. AI-powered chatbots and virtual concierges are increasingly being used in hotels and airlines to improve efficiency and customer satisfaction. Additionally, machine learning algorithms help predict traveller preferences, making recommendations for flights, accommodations, and attractions in real time.

?? Read more: Daily Telegraph

AI Transforming Restaurant Operations

The restaurant industry is leveraging AI to revolutionize operations, from automating order management to optimizing ingredient sourcing and reducing food waste. AI-driven robots and smart kitchen technologies are helping streamline food preparation, ensuring faster service and improved consistency in food quality. Moreover, dynamic pricing algorithms are enabling restaurants to adjust menu prices based on demand, helping maximize revenue.

?? Read more: Food & Wine

OpenTable Gains Popularity Among Trendy Restaurants

OpenTable is witnessing a resurgence in popularity as a growing number of upscale and trend-focused restaurants opt for its reservation platform over competitors like Resy. The platform's advanced features, including AI-powered customer insights, waitlist management, and integration with restaurant POS systems, are driving its adoption. Industry experts suggest that OpenTable's adaptability to changing dining habits and consumer preferences has strengthened its position in the competitive reservation technology landscape.

?? Read more: Grub Street

Security and Safety

Fire Erupts on Hotel Roof Near Mumbai Airport

A fire broke out on the rooftop of a hotel near Mumbai Airport, prompting a swift response from local fire authorities. Fortunately, no casualties were reported, and the fire was contained before causing significant structural damage. This incident highlights the importance of stringent fire safety measures in high-occupancy buildings, particularly in the hospitality sector, where guest safety is a top priority.

?? Read more: Hotelier India

Barricaded Person Triggers SWAT Response in Midtown Anchorage

In Anchorage, a standoff occurred when a person barricaded themselves in a midtown lot, leading to a SWAT team intervention. The situation escalated, resulting in gunfire that left the individual deceased. Authorities are investigating the incident to determine the circumstances that led to the fatal outcome.

?? Read more: Alaska's News Source

Airlines' Claims About AirTags Technology May Be Exaggerated

Airlines have been promoting the use of Apple's AirTags for luggage tracking, suggesting enhanced efficiency in locating lost baggage. However, recent reports indicate that these claims might be overstated, as the technology's effectiveness heavily relies on the presence of nearby Apple devices to relay location data. Travelers are advised to manage their expectations and not solely depend on AirTags for luggage recovery.

?? Read more: TheStreet