Latest news with #Hotels
Wall Street Journal
a day ago
- Business
- Wall Street Journal
Why the Minibar Vanished: How Hotels Maximize Profit From Your Stay
Why the Minibar Vanished: How Hotels Maximize Profit From Your Stay From vanishing closets, to disappearing desks – your hotel room has been shrinking. WSJ speaks to a leading hotel designer to find out how some hotels are able to keep guests happy with smaller rooms. Photo Illustration: George Downs/The Wall Street Journal
Time of India
17-07-2025
- Business
- Time of India
ITC Hotels Q1 Profit Up 54%
ITC Hotels has reported revenue from operations of ₹816 crore for the quarter ended June, up 16% year on year. The chain reported a profit of ₹134 crore for the quarter, up 54% year on year. The Hotels business of ITC was demerged into ITC Hotels with effect from January 1, 2025. The equity shares of the company listed on the National Stock Exchange (NSE) and BSE on January 29 this year. In the preceding three months ended March 31, ITC Hotels had reported revenue from operations of ₹1,061 crore, and a profit of ₹258 crore. The April to June quarter is typically a leaner quarter for hotel chains. The hospitality chain said during the quarter ended June 30, 2025, the board approved a capital expenditure of ₹328 crore for construction of a hotel in Visakhapatnam, Andhra Pradesh. During the quarter ended June, the company also signed 8 hotels with approximately 700 keys in aggregate at locations such as Bodhgaya, Dehradun, Goa, Lucknow, Manesar, Mysore, Ranthambore and Vrindavan. On a standalone basis, ITC Hotels reported revenue from operations of ₹744 crore for the quarter ended June, up 15% year on year. The chain reported a standalone profit of ₹150 crore for the quarter ended June, up 47% year on year. ITC Hotels said the average daily rates for the quarter grew by 9% and occupancy by 275 bps, resulting in overall revenue per available room growth of 13%. 'The company demonstrated its supremacy over the market and commanded a revenue per available room premium of 34% over the industry,' the company said in a statement.
The National
17-07-2025
- The National
Visiting UAE during summer: Everything tourists need to know
Summer weather in the UAE can get intense, but that doesn't mean tourists need to avoid visiting here. In fact, it can be one of the best times to come since it's less busy and there are a number of deals to be found at hotels, restaurants, malls and spas. With world-class indoor attractions, subsidised room rates and modern infrastructure built to withstand the heat – perhaps you'll even find yourself wishing for a jumper when in the mall – the Emirates welcomes plenty of visitors even in July and August. Here's what you need to know before stepping off the plane. How hot is it, really? Make no mistake, it is hot. Temperatures regularly cross the 45°C mark, and on some days it can feel even hotter due to the humidity levels, especially near the coast. Meanwhile, overnight lows stay well above 30°C and, again, humidity levels often make it unpleasant to be outside even when the moon is out. The sun can be particularly unforgiving between 11am and 4pm. Outdoors, especially without shade or hydration, it can quickly become uncomfortable and even dangerous. The government issues regular warnings for heatstroke risk and encourages people to stay indoors during peak hours. Does that mean everything shuts down during the day? Not at all. Shopping malls, indoor attractions and restaurants are bustling even during the summer. You'll find many malls hosting summer festivals, notably Dubai Summer Surprises, an annual shopping and entertainment event that brings discounts, raffle draws and children's activations across myriad malls, plus a number of indoor concerts. There are also dedicated summer entertainment programmes to keep families engaged. For example, Dubai Sports World takes over Dubai World Trade Centre's exhibition halls in August, with more than 40 courts and pitches across 300,000 square feet of indoor space. Visitors can enjoy a wide range of sport, from badminton to basketball and padel to pickleball, plus spinning, CrossFit and even zones for children. Elsewhere, many restaurants cover up their outdoor sections with air-conditioned tents, from beach clubs such as Barasti and Baoli to family-friendly Phileas Fogg's. What summer deals are there? Dubai Summer Surprises aside, the first Great Dubai Summer Sale will take place for three weeks from July 18. It offers majors discounts at more than 800 brands, with up to 90 per cent off during flash sales, as well as cashback offers and prize draws. Discover the best hotel rates of the year across many of the properties in the UAE, as well as excellent summer offers. At Palazzo Versace Dubai, until September 30, guests spending a minimum of Dh1,000 across the hotel – whether on room rates, at the restaurant or in the spa – will receive a guaranteed flight ticket to a destination of their choice, depending on departure location. At JW Marriott Marquis Hotel Dubai, anyone spending at least Dh150 in one of the restaurants will get 50 per cent off on room rates for a stay that same night. In Abu Dhabi, Saadiyat Island has a range of packages for visitors, including a deal where two children under 12 can stay, play and dine for free with two paying adults at participating luxury hotels on the island. There's also the Stay & Play package, where guests get free entry to Louvre Abu Dhabi and a Yas Island theme park for each night of their stay. Yas Island has a similar Kids Go Free offer valid until September 30, which allows up to two children under 12 complimentary accommodation, theme park access and dining when two adults book a package at participating hotels. Outside the hotels, the UAE's theme parks also have special offers. For example, at Dubai Parks and Resorts, get access to two of the parks – from Motiongate Dubai, Real Madrid World, Legoland Dubai or Legoland Water Park – for the price of one (Dh295). Then there are restaurants, where attractive dining deals and special menus launch at this time of year. W Dubai 's Taste of W offers exclusive set menus across four of its outlets, including Michelin-recommended Akira Back, for Dh220 per person. Elsewhere, at Catch at St Regis in The St Regis Abu Dhabi, a new menu inspired by South American-style ceviche is on offer throughout July. Spa deals are also prevalent during summer, allowing guests access to some of the city's most luxurious havens for a fraction of their usual price. Emirates Palace Mandarin Oriental, Abu Dhabi, for example, is offering complimentary day passes to its beach and pool with all couples' treatments until September 30. In Dubai, at Five Palm Jumeirah, get a 30-minute body exfoliation and 60-minute cold stone massage for Dh695 with its new Snatched for Summer treatment. Elsewhere, Kalm Grooming Salon at Riva Beach Club on Palm Jumeirah has 30 per cent off on all its barber and grooming services. What are some of the best indoor activities to try? The UAE excels at indoor entertainment, so you're absolutely spoilt for choice. In Abu Dhabi, don't miss a visit to Saadiyat Cultural District's fabulous museums, including Louvre Abu Dhabi and the newly opened teamLab Phenomena, an interactive digital art experience. Over on Al Qana, there's The National Aquarium, while Reem Mall has an indoor snow park. And you can't leave Abu Dhabi without a visit to Yas Island, where you'll find some of the capital's best indoor attractions, such as Warner Bros World theme park, Yas Mall, Etihad Arena and Clymb Abu Dhabi, home to the region's tallest indoor climbing wall and where you'll get 20 per cent off with your Yas theme parks tickets this summer. In Dubai, a visit to Dubai Mall, one of the largest malls in the world, is a must for any tourist. Inside, you'll find everything from an underwater zoo to a virtual-reality park and an ice rink. Mall of the Emirates is also worth a visit for Ski Dubai, the famous indoor ski resort with real snow year-round. Elsewhere, the Green Planet is an indoor tropical rainforest with more than 3,000 plants and animals. For a spot of culture, a visit to the Museum of the Future, where the exhibits explore our planetary future, is a must. Sharjah is also an excellent place to visit come summer due to its focus on indoor cultural attractions and fantastic museums, where a seasonal programme of exhibitions is ongoing. Head to Sharjah Art Foundation, where you'll find Rain Room, a permanent immersive art installation that invites visitors to walk through a downpour of continuous rain without getting wet. Is there anything I can't do? We don't advise spending much time outside during peak daylight hours, between 11am and 4pm, so you won't be walking around sightseeing or sunbathing on a beach. Desert activities such as dune bashing, camping and camel riding aren't possible in the daytime during the hottest weeks of the year. Some outdoor attractions will have reduced daylight hours, while seasonal events and venues will be closed altogether, such as Global Village, Dubai Miracle Garden, Ripe Market and Dubai Safari Park. What should I pack in my suitcase? Pack for the heat, but also plan for being indoors where it can be quite cold because of the superior air-conditioning systems, so a light jacket or shawl is essential. Breathable fabrics such as linen and cotton are imperative but remember modest dress is appreciated as this is still an Islamic country, so be respectful – avoid short shorts, crop tops and transparent fabrics in public areas unless you're at a beach or swimming pool. Also, don't forget your high-SPF sun cream, hats and UV-protection sunglasses. Bring a refillable water bottle as you'll find refill stations dotted around the country and it's crucial to stay hydrated in the UAE summer.
Associated Press
27-06-2025
- Business
- Associated Press
OYO Becomes the Most Profitable Indian Startup with $72 Million Profit
06/26/2025, New Delhi // PRODIGY: Feature Story // OYO Founder Ritesh Agarwal shared in an employee town hall that the company has now become the most profitable Indian startup. The company reported profit after tax (PAT) of ~$72 million in its financial results for the fiscal year ended March 31, 2025, a 172% increase from ~$27 million in FY24. According to documents accessed by PTI, as per its unaudited financials, the company achieved an adjusted EBITDA of ~$132 million in FY25, compared to ~$104 million in the previous fiscal year, marking a robust 27% year-over-year growth and its 10th consecutive quarter of EBITDA profitability. Consequently, OYO's earnings per share (EPS) reached $0.93 for FY25, up from $0.36 in FY24, reflecting a 158% increase as the company continues to enhance shareholder value. The platform reported a 54% increase in Gross Booking Value (GBV) to $1.92 billion and its revenue grew to ~$754 million, a 20% increase year-over-year, fueled by the company's premium offerings through its Company-Serviced Portfolio (including the mid-segment Townhouse Hotels and Softbank- and Oravel-promoted Sunday Hotels) across India, UK, and the SEAME region, as well as the successful integration of G6 Hospitality. The company has strategically expanded its premium offerings with the launch of over 30 Sunday Hotels in the last 12 months across various regions, including India, Saudi Arabia, UAE, and Southeast Asia. In the SEAME region alone, company-serviced property additions grew from 7 in Q4 FY24 to 256 in Q4 FY25. The fourth quarter of FY25 proved to be OYO's strongest, with GBV reaching ~$744 million, a 126% growth compared to the same period last year, driven by its growing hotels business across India, USA, and SEAME and the acquisition of G6 Hospitality in Q3 FY25. Revenue for Q4 stood at ~$218 million, up 41% year-over-year, while adjusted EBITDA increased by 61% to ~$51 million compared to Q4 FY24. The quarter saw significant expansion with the company's hotel storefronts increasing by 25%, buoyed by the addition of G6 hotels in its portfolio, and the homes segment growing by 42% year-over-year. Hotel GBV per storefront per month surged by 161% to ~$8,940, reflecting the success of OYO's premiumization efforts and strategic acquisitions. OYO's global presence now includes approximately 22,700 hotels and 119,900 homes, along with 91,300 listings across its platform. The company significantly strengthened its position in developed markets, particularly in the US, where it experienced 55% growth in storefronts and 45% growth in GBV during FY25. International rating agencies have recognized OYO's improved profitability and strengthened credit metrics, with Moody's upgrading the company's rating, citing OYO's improved profitability over recent quarters. For the current financial year, FY26, Ritesh Agarwal has earlier shared a target of reaching over ~$233 million in EBITDA and $1.31 EPS, by growing its current annualized EBITDA run-rate of ~$198 million. The company expects its US operations to be a significant driver, with projected consolidated GBV growth of 3.4x in FY26 compared to FY25. In FY 2025, OYO demonstrated the highest PAT growth compared to leading hospitality players such as IHCL, Lemon Tree, Ixigo, and Royal Orchid. OYO's revenue outperformed Lemon Tree, Ixigo, and Royal Orchid, though it trailed IHCL. Note: Financial figures in USD are converted using the exchange rate of 1 USD = ~85.7 INR as of June 9, 2025. Contact Details Tech Observer Md Ujaley +1 931-358-3248 [email protected] Company Website Original Source of the original story >> OYO Becomes the Most Profitable Indian Startup with $72 Million Profit
Time of India
22-06-2025
- Business
- Time of India
Google may soon change the way its shows search results in Europe
Google has reportedly put forward a new set of changes to its search results page, offering to better feature competing services in a bid to resolve a major European Union (EU) antitrust case and avoid a potentially hefty fine. Citing documents that Google sent to other companies, news agency Reuters reports that the proposal comes three months after the European Commission (EC) formally charged the tech giant with violating the landmark Digital Markets Act (DMA) by unfairly favouring its own services like Google Shopping , Hotels, and Flights over those of its rivals. What Google's offer suggests about the changes coming to Search engine Under the latest offer, Google suggests creating a dedicated box at the top of the search results page for a rival vertical search service (VSS), selected through 'objective and non-discriminatory criteria.' This box would reportedly have the same format and features as Google's own offerings and would include three direct links chosen by the rival company. Other specialised search services would be ranked below this box. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo 'We do not agree with the (Commission's) preliminary findings' position but, on a without prejudice basis, we want to find a workable solution to resolve the present proceedings,' Google said in the documents sent to rival companies, while maintaining its position. The proposal is set to be discussed at a meeting scheduled for July 8 where rivals will provide feedback to the Commission. However, several competitors, who spoke on the condition of anonymity, told Reuters they believe the proposed changes are still insufficient to ensure a level playing field. The DMA is a sweeping set of rules and regulations designed to limit the power of Big Tech and foster greater competition and consumer choice in the digital marketplace.
