Daily Lodging Report
Leela Owner Files for an IPO
Schloss Bangalore, owner of The Leela hotel chain, has applied for a US$ 599 million IPO to money growth and financial obligation repayment, with Morgan Stanley, BofA Securities, JPMorgan, and Citi handling the problem.
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Online Travel
10 Things We Learned at the Skift Global Forum
Executives speaking at this year’s Skift Global Forum used no shortage of viewpoints about the existing state and future of the travel industry, and here are a few of the most notable remarks.
Lex Haris, Sean O’Neill, Meghna Maharishi, Rashaad Jorden, Dawit Habtemariam, Justin Dawes, Skift|2 days ago
Skift Take The current predictions from WTTC not only verify India’s status as a growing tourist powerhouse, however likewise underscore the nation’s immense potential in the global tourist landscape. Peden Doma Bhutia India’s travel and tourist sector is poised to contribute $200 billion (Rs16.5 trillion) to the nation’s economy in 2023, just 3.5 percent listed below...
In the ever-evolving landscape of health and wellness, an extremely reliable new class of medications have actually caught the spotlight. The drugs, referred to as GLP-1’s, have trademark name like Ozempic and Mounjaro. They were initially created as diabetes medications and work by affecting how the body regulates insulin and hold-ups gastric emptying– therefore making users feel...
Skift Take There are financial pressures and segment-specific obstacles, such as growing supply in the luxury market. Sean O’Neill STR and Tourism Economics lowered their forecast for U.S. hotel demand development today. The benchmarking firms now predict a more modest 2.1% boost in typical everyday rates this year– below the previous price quote of 3.1%. “Everyone in the hotel...
Skift Take Oyo’s potential IPO has most likely run head-on into the collapse of a number of recent public market debuts in India with a number of claims possibly figuring into the regulator’s postponed decision. Oyo will eventually go public, however that first public appearance likely won’t look like the initial vision. Dennis Schaal Softbank-backed Oyo’s hoped-for and...
Skift Take Among Softbank’s holdings, Oyo does not seem another WeWork disaster. Nevertheless, under the glare of being a public business, Oyo would be challenged to get to profitability, and to remedy its ongoing brand reputation difficulties. Dennis Schaal India’s once-highflying hotel operator and tech service provider Oyo is poised to execute an initial public offering in India in...
Skift Take Today’s edition of Skift’s day-to-day podcast looks at the ecological efficiency of hotel brands, the getaway leasings labor shortage, and South Africa’s energy crisis. Rashaad Jorden Good morning from Skift. It’s Thursday, March 16. Here’s what you need to know about the business of travel today. Listen Now Subscribe Apple Podcasts|Spotify|Overcast|Google...
Skift Take Squake has a mission to spread the word about travel carbon emissions, while HiJiffy is utilizing tech from ChatGPT to power a chatbot for hotels. Justin Dawes 3 travel tech startups raised almost $7 million in venture capital this week. >> Squake has raised $3.8 million (EUR3.5 million) for technology that powers carbon emissions computations for the travel and logistics markets. The...
India is aiming to set up a “Swachhata (Cleanliness) Rating Framework” developed to evaluate tourist organizations, such as hotels and homestays, according to Tourist Secretary V Vidyavathi. This framework aligns with the “Travel for LiFE” principles, an essential part of the Sustainable Tourist Policy, underscoring the imperative of tidy and sanitary establishments...