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TOURISM AND HOTEL INDUSTRY AWARENESS - April 2019

Apr 2019

Apr 27, 2019

Sri Lanka Fears Tourism Loss This Year

  • As per Sri Lanka's the Finance Minister, Sri Lanka fears its lucrative tourism industry could see arrivals drop up to 30%, with losses of $1.5 billion this year, after deadly Easter attacks.
  • The country could take up to two years to fully recover from Sunday's attacks, which devastated three luxury hotels and three Christian churches and killed 253 people, among them many foreigners.

Apr 25, 2019

SEBI Restrains Hotel Leelaventure

  • SEBI barred cash-strapped Hotel Leelaventure from selling its four hotels and other assets to Canadian investment fund Brookfield Asset Management till further directions.
  • In March Hotel Leelaventure Ltd. (HLVL) had announced the sale of its four hotels located in Bengaluru, Chennai, Delhi and Udaipur, as well as a property to Canadian investment fund Brookfield for Rs. 3,950 crore. It had sought shareholders' approval and the voting is scheduled to end on April 24.

Apr 19, 2019

OYO Hotels & Homes Unveils Partner Engagement Initiative

  •  OYO Hotels & Homes launched a new programme — OYO partner engagement network (OPEN), a year-long initiative that aims to help its more than 8,700 asset owner-partners in India reach their business goals.
  • As part of the initiative, the company had announced "six core partner promises" that include transparent payment protocols wherein asset owners would get 18% interest on delayed payments, financial support and regulatory compliance assistance among other things.

Apr 16, 2019

Chowman Hospitality Pvt. Ltd. Plans Expansion

  •  City-based Chowman Hospitality Pvt. Ltd. restaurant chain is eyeing markets in west, north and south India, while sticking to its strategy of setting up small neighbourhood, fine-dining outlets and avoiding malls and high-street locations.
  • Chowman Hospitality Pvt. Ltd., owned by entrepreneur Debatitya Chowdhury, runs Chowman, which is among Kolkata's first small-format, fine-dining Chinese restaurant chains.
  • It has 12 outlets in the city and is eyeing entry into Mumbai, Chandigarh, Delhi, Bengaluru and Hyderabad.

Apr 02, 2019

OYO Raises Funding from Airbnb

  • OYO Hotels & Homes raised funding from U.S.-based accommodation platform Airbnb.
  • As per reports, the investment by Airbnb is pegged between $100 and $200 million.
  • As part of this 'strategic investment', both parties are exploring opportunities to collaborate on a range of projects, including making OYO's accommodations available on Airbnb's platform.
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