Latest news with #ConferencesandExhibitions
Indian Express
4 days ago
- Business
- Indian Express
Delhi to be developed as a global event hub: Tourism Minister Kapil Mishra
The Delhi Government will soon launch a digital single-window clearance system for granting permission for events, aimed at simplifying and speeding up the approval process for organisers, Tourism Minister Kapil Mishra announced Monday. The initiative is part of a broader push to position the Capital as a global event hub under a public-private partnership (PPP) model. At a high-level roundtable meeting with officials from the Department of Tourism, Art, Culture and Language and leading event management firms, Mishra said, 'Delhi will be developed as a global event hub for live events, entertainment, and destination weddings.' He added that the government is working to introduce policy reforms for venue allocation, and boost infrastructure to support the city's events sector. Among the proposals discussed was a roadmap to support the Meetings, Incentives, Conferences and Exhibitions (MICE) sector through marketing and financial support. Organisers also suggested that permission processes for events at heritage sites in Delhi be eased and GST relaxations offered to encourage destination weddings. 'Delhi has 70 to 80 heritage monuments that can be effectively used for hosting cultural and private events,' said Mishra. The roundtable, attended by senior officials and members of the Event and Entertainment Management Association (EEMA), also flagged challenges such as high venue rental rates and limited access to public spaces. In response, Mishra said the government would ensure a 'transparent and fair' venue allocation system, and that he would bring the concerns to the attention of Delhi Chief Minister Rekha Gupta. Officials from the Department of Art, Culture, and Language proposed listing government-sponsored events on commercial platforms, such as BookMyShow, to increase public engagement. Stakeholders also called for the creation of an international-standard convention centre in Delhi and suggested repurposing vacant government land for event use.
Mint
18-07-2025
- Business
- Mint
Indian Hotels posts steady Q1, but high growth may be tough to sustain
Next Story Pallavi Pengonda Taj Hotels parent logs 32% revenue rise on TajSATS addition, while margins ease amid early wage hikes, flight disruptions and geopolitical headwinds. Q2 outlook stays firm. Indian Hotels posts steady Q1 with 32% revenue rise, but margin dips on costs and external headwinds. Gift this article Even with turbulence in the skies and disruptions on the ground, The Indian Hotels Co. Ltd managed to steer through Q1FY26 with stable growth, though not without a few bumps in the margins. Even with turbulence in the skies and disruptions on the ground, The Indian Hotels Co. Ltd managed to steer through Q1FY26 with stable growth, though not without a few bumps in the margins. The company reported a 32% year-on-year growth in consolidated revenue to ₹ 2,041 crore for the June quarter (Q1FY26), broadly in line with analysts' expectations. The consolidation of TajSATS airline catering business from August benefitted growth. Excluding TajSATS, revenue growth stood at a decent 13%, despite operational headwinds such as Operation Sindoor, flight disruptions and broader geopolitical events. Also Read | Chalet Hotels is expanding fast. Should investors check in now? These headwinds, along with an early wage hike implemented in Q1, weighed on profitability. The company's Ebitda margin declined by nearly 80 basis points year-on-year, settling at 28.2% for the quarter. FY26 outlook firm Still, the company remains optimistic. Its core hotels segment, which contributes around 85% of total revenues, is expected to clock double-digit growth in FY26, led by strong demand in the MICE (Meetings, Incentives, Conferences and Exhibitions) segment. The outlook for Q2 is expected to stay robust even as July last year was strong. According to Dolat Capital Market, FY26 will mark the fourth consecutive year of outperformance for Indian Hotels and the broader industry. 'Thus, sustaining high growth may become challenging," they wrote in a report dated 17 July. In Q1FY26, the company's standalone business reported an 11% growth in revenue per available room (RevPAR). Occupancy rate dipped by 90 basis points year-on-year to 74.3%, while average room rates (ARR) rose 12%. Indian Hotels continues to benefit from a healthy balance sheet. As of 30 June, gross cash reserves stood at ₹ 3,073 crore. For FY26, the company has outlined capital expenditure of ₹ 1,200 crore, which will be directed towards assets under construction, hotel renovations, expansion, and digital initiatives. Expanding reach In Q1FY26, Indian Hotels opened six new hotels including a Taj in Alibaug, two SeleQtions resorts in Lakshadweep, a Gateway in Coorg, and a Ginger in Dehradun. This takes its total portfolio to 392 hotels — of which 249 are operational while the rest are in the pipeline. Under its 'Accelerate 2030' strategy, Indian Hotels aims to grow its portfolio to 700 hotels by 2030. Sentiment check Analysts at Motilal Oswal Financial Services expect the company to maintain its growth trajectory, projecting a 16% revenue CAGR and 20% Ebitda CAGR over FY25–27, driven by room additions and ARR increases, while occupancy rate is seen improving slightly. However, the stock's rich valuations could limit near-term upside. Shares currently trade at 32x EV/Ebitda based on FY26 estimates, as per Bloomberg. The stock is down nearly 15% from its 52-week high of ₹ 894.90 touched on 30 December. 'Indian Hotels' business positioning remains strong, led by superior execution, industry tailwinds from a demand-supply mismatch (though narrowing), and a healthy balance sheet — notwithstanding rich valuations," analysts at Dolat Capital said in a 17 July report. Topics You May Be Interested In Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
