Latest news with #Novum
The Hindu
10-08-2025
- Automotive
- The Hindu
Hyderabad Metro's ₹120 crore multi-level automated parking facility getting ready in Nampally
Hyderabad Metro Rail Ltd (HMR) is giving final touches to the ₹120 crore fully automated multi-level parking system—one of its kind globally— under construction in the heart of Hyderabad at Nampally. Managing Director N.V.S. Reddy informed on Sunday that the facility will be made available to the public soon after receiving final approvals from various government departments. The MD, who inspected the site, explained that the facility is being built under HMR's supervision through a Public-Private Partnership (PPP) model by the firm 'Novum'. The project is using Germany's advanced 'Palis' technology for a fully automated puzzle parking system. It is the first of its kind in India and ranks among the most advanced parking complexes globally. Constructed on 2,000 square yards of HMR land under a 50-year concession, the project has been developed with private investment by entrepreneurs Harikishan Reddy and Bhavana Reddy. The complex comprises 15 floors, including three basements and seven upper floors, making up 10 dedicated parking levels. In addition, five floors have been allocated for commercial activities to make this project commercially viable. The complex also houses two well-equipped cinema theaters and a city-viewing gallery on the 11th floor. It can accommodate 250 cars and 200 two-wheelers, he said. The automated puzzle parking system operates entirely via sensors with zero human intervention. It automatically categorizes vehicles—SUVs, sedans, and small cars—and parks them on designated floors. Unlike mechanical parking systems in Delhi and Mumbai, this system works without pallets, making parking smoother and more efficient. The entry and exit terminals are spacious and smart, with flat turn-tables that cater to the needs of elderly individuals, women, and differently-abled users, said Mr. Reddy. Vehicles can be left on the turntable at any angle, and the turntable rotates 360 degrees to position them correctly. The user experience is designed to be seamless and innovative. Upon arrival, users receive an entry ticket with a QR code (smart card) that guides them to the terminal. Swiping the card at the terminal gate opens the gate. The user then keeps the car on the turntable, applies the handbrake, turns off the engine, and exits. Swiping the card outside initiates the parking process. The system scans the vehicle, classifies it, and parks it on it's own accordingly. To retrieve the vehicle, the user pays the fee at the counter, swipes the card at the I/O terminal, and the vehicle returns to the user from the parking platform.
Yahoo
24-06-2025
- Business
- Yahoo
Baxter's infusion pump recalled
Baxter's recall of its Novum pump may negatively affect sales in the infusion pump market. This recall comes after a report of one serious injury related to under-infusion risks when the standby feature is used, and it has been determined that this risk increases when being used at higher flow rates. Although Baxter's recall presents a short-term setback for revenue, this is unlikely to result in much change to its position in the infusion pump market. The infusion pump market was worth $1.74bn in 2024 and is expected to reach $2.2bn in 2034 with a compound annual growth rate (CAGR) of 2.4%, according to GlobalData, a leading data and analytics company. The global infusion pump market is expected to show significant growth due to an increasing population with health conditions that are chronic in nature, as well as the technical advancements being made in this field, where each step in the treatment process of patients is becoming more automated. Some barriers to this growth may be the trend of elevated at-home use of infusion devices and the increased cost of more sophisticated infusion pump products from these technological advancements. Baxter currently occupies approximately 27.6% of the infusion pump market and is the largest player in this space, while competitors such as Becton Dickinson, B. Braun, and ICU Medical take up 20.2%, 18.4%, and 8.7% of the market, respectively. While it is doubtful that Baxter's standing in this market will change, this could present an opportunity for competitors to make market share gains in response to this recall. Infusion pumps are vital devices for controlling the delivery of life-saving medications, blood, and nutrients and it is paramount that these mechanisms be dependable for avoiding these very situations. Currently, the damage caused by these devices is relatively small; however, incidences such as this can influence short-term revenue as trust in their functionality may falter. "Baxter's infusion pump recalled" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-02-2025
- Business
- Yahoo
IHG CEO Targets Indie Hotels in Tech-Driven Expansion — Exclusive Interview
As the president and CEO of IHG Hotels & Resorts, Elie Maalouf has his hands on the levers of an industry being reshaped by technology, loyalty economics, and the gravitational pull of big brands. 'There's always been a mix of local and global in hospitality, but the game has changed,' Maalouf said. 'Today, the regional players that want to go further need access to capital, technology, and distribution networks that only global brands can provide.' One clear example is IHG's April 2024 deal with Novum Hospitality. A homegrown German group decided it made more sense to hitch its future to IHG than to go it alone with its own brands. That decision—turning over 119 properties for franchising to the IHG machine—tells a bigger story about what's happening across Europe's fiercely independent hospitality scene. A year and a half into the role, Maalouf sat down with Skift for an exclusive interview at the Americas Lodging Investment Summit (ALIS) in Los Angeles. The CEO covered the dynamics he sees driving more independents to IHG, how tech investments could give IHG a competitive edge, and why he's excited about Japan's potential for hotel development (from midscale to luxury). Europe is a key market for a global hotel group like IHG. Only about 40% of hotel inventory there is branded, according to CoStar's STR. 'We see tremendous opportunity for growth in Europe, where independent hotels and regional chains are realizing that competing in today's digital landscape is incredibly expensive,' Maalouf said. Rather than trying to buy IHG's way in with hard assets, the group is relying on a franchise-heavy model that emphasizes conversions, such as the Novum deal. Novum's decision wasn't just about gaining access to IHG's global distribution network. It was also about tapping into a technological ecosystem that would have been prohibitively expensive to build independently. In other words, Europe's hotel landscape requires massive investment in digital infrastructure. "It's the kind of investment that's becoming increasingly difficult for regional hotel groups to shoulder alone," Maalouf said. "How you interact with the travel experience from beginning to end is now very digital," Maalouf explained. "You expect to research and book digitally. You expect to be able to check in and out digitally, to ask for services in the hotel digitally, and so on." Software investment is one of the ways IHG has sought to be an attractive partner for independent hotel owners who are feeling the squeeze of rising tech costs and changing consumer expectations. Its multi-year shift to a cloud-based Amadeus-run central reservation system was well-documented pre-pandemic. Since then, the hotel group has continued revamping its tech stack. Worldwide, IHG has rolled out what Maalouf calls the "industry's leading guest reservation system." The software lets all its hotels sell rooms as well as specific "attributes" — floors, views, experiences — before a guest even walks through the lobby. Maalouf said it has been rolling out AI-driven systems that flag potential guest issues and provide real-time assessment of guest feedback before they become Tripadvisor fodder. 'If you wait for a survey after checkout, you've already lost your chance to turn a stay around,' he said. 'The key is fixing problems while the guest is still in-house.' A new AI-powered revenue management system, already deployed in nearly 3,500 properties, helps optimize pricing in real-time. The company has even re-platformed its content management system to enable multi-language translation and rich-media content delivery. IHG has also been nudging franchisees toward renovations by offering data on what updates will have the biggest impact on guest satisfaction and revenue. Maintaining consistent quality across properties is crucial for a company hosting approximately one million guests per night. "Even if we're 99.9% precise in delivering customer service, that's still a thousand people that weren't exactly satisfied," Maalouf notes. In China, IHG is even experimenting with robots in hundreds of its hotels by using them for towel and drink delivery. Maalouf was quick to position this as a practical solution to labor shortages. IHG One Rewards, the company's loyalty program, is another pillar of Maalouf's vision. When he took over, IHG had fallen behind competitors in the points wars. Skift noted that, a decade ago, IHG had the most members in a loyalty program of any group, but since then (and before Maalouf's tenure) had fallen to third place after Marriott and Hilton. As of late 2024, the company was on track to have approximately 145 million members by year-end, while Marriott and Hilton each had over 200 million. "What really matters is the number of members per room," Maalouf said. "Some hotel companies have fewer rooms than we do. Some companies have more rooms. For fair comparisons, you have to look at the proportion of members per room. On that, IHG One Rewards is right up there with everybody and growing quickly." 'What also matters isn't just how many members you have—it's how many of them actually stay with you,' the CEO said. Nearly 70% of IHG's room nights in "the Americas" now come from loyalty members, up 10 percentage points from 2019. (Globally, the figure is 60%.) The levels are roughly comparable to what its peer companies report. The proportion is important. Direct bookings by loyalty members avoid the commissions that online travel agencies charge. According to Maalouf, IHG's loyalty program's recent membership gains are owed to personalization powered by tech. The program lets guests tweak their perks in a way that others don't. The renewal this year of IHG's credit card deals with JPMorgan Chase, set to run through 2036, cements the strategy. Credit card fees recognized within IHG's operating profit will more than triple by 2028, IHG said. IHG's growth engine isn't all high-thread-count luxury. Among its 19 brands, Holiday Inn Express remains the company's golden goose. The brand has conquered the upper-midscale segment with ruthless efficiency. With over 3,200 hotels worldwide, it's a reliable, no-frills bet for travelers and a moneymaker for franchisees. 'It's a brand that resonates across markets because it delivers a consistent, high-quality experience at a price point that works,' Maalouf said. That said, IHG's luxury and lifestyle brands have surged in prominence, accounting for 20% of the group's pipeline—nearly double what it was five years ago. The company's Six Senses, Regent, and Kimpton brands continue to set a high bar, with new projects in sought-after destinations like Santa Monica, Telluride, and the Maldives. Regent Santa Monica Beach, with its high-end dining and oceanfront spa, is a prime example of IHG's push into the ultra-luxury space, Maalouf said. Meanwhile, Six Senses is expanding in the Americas and Europe, capitalizing on growing demand for sustainable, experience-driven luxury. 'We've doubled down on luxury and lifestyle, knowing that guests today want more than just a hotel—they want a full-scale immersive experience,' Maalouf said. Exhibit A: If the U.S. is IHG's biggest market playground, Japan is a sleeping giant for expansion. The country's hotel industry has been historically independent, with only a very small percentage of its total inventory tied to global brands. However, international travel to Japan is booming—40 million visitors last year, with a target of 60 million. So, Maalouf sees a major opportunity to introduce IHG brands into the mix. 'Japan has been a domestic-driven market for a long time, but that's changing,' Maalouf said. 'There's a ton of room for branded growth, and we're ready to bring our solutions to the table.' The company recently expanded its Garner brand into Japan, tapping into a midscale niche that international players have underserved. Maalouf starts his days at 5am with a workout (twice-weekly outdoor runs when his schedule permits). He joked that health maintenance is much like brand management — consistency is key. Running IHG is no desk job, so he tries to exercise even while on the road. In recent weeks, he has traveled from Shanghai to Hong Kong, Tokyo, and Singapore, inspecting properties, meeting with regional teams, and speaking at events. Maalouf said he's still learning, given that he has only been in the hotel industry for a decade. He previously worked at Weyerhaeuser Real Estate Company and as an advisor with McKinsey. "I learn something every day in this business – multiple things a day," Maalouf reflected. "It's just something to learn from our colleagues, from owners, from journalists. And I get a lot of life and stimulation from it — the process of getting to know everything in this business." Maalouf's goal for IHG is similar. He expects his team to evolve in response to the latest trends and intelligence. 'Our job is to create long-term value—for guests, for owners, and for our partners,' Maalouf said. 'The industry is changing, and we plan to lead that change.' The hotel industry is finally catching up to airlines in the art of online upselling, with new tech investments set to unlock billions in ancillary revenue. The hotel industry is finally catching up to airlines in the art of online upselling, with new tech investments set to unlock billions in ancillary revenue. Read More What am I looking at? The performance of hotels and short-term rental sector stocks within the ST200. The index includes companies publicly traded across global markets, including international and regional hotel brands, hotel REITs, hotel management companies, alternative accommodations, and timeshares. The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more hotels and short-term rental financial sector performance. Read the full methodology behind the Skift Travel 200. Get breaking travel news and exclusive hotel, airline, and tourism research and insights at Sign in to access your portfolio
