General Awareness

TOURISM AND HOTEL INDUSTRY AWARENESS - June 2019

Jun 2019

Jul 20, 2019

Oyo to Raise Stake

Ritesh Agarwal, the founder and chief executive officer of Oyo Hotels and Homes, will invest $2 billion to buy back a part of the equity holdings of the company's early investors Lightspeed Venture Partners and Sequoia India, besides infusing more equity capital into the firm.
The founder-led management purchases are being made through RA Hospitality Holdings (Cayman).
Sequoia Capital held a 10.24% stake in Oyo, while Lighspeed had a 13.4% stake. It is not clear how much of their stakes they have sold in the latest transaction.
Agarwal's investment, backed by global institutional banks and his financial partners, is subject to regulatory and shareholder approvals.

Jul 17, 2019

OYO Enters Co-working Spaces

Hospitality chain OYO announced its foray into co-working spaces with a new brand — OYO Workspaces — with an aim to have 50 centres across the country by end of 2019.
The company confirmed that it had acquired co-working firm Innov8, which has about 16 centres in the country, providing seats to about 6,000 employees of brands like Swiggy, Paytm, Pepsi, Nykaa, OLX and Lenskart.
While financial details were not disclosed, the acquisition is being pegged at about ₹200 crore. OYO Workspaces, led by Rohit Kapoor, CEO of New Real Estate Businesses, aims to be a fully controlled workspaces solutions provider, designed to meet the needs of over 80% of the working population in the country, the company said.
The firm has also introduced two other co-working brands — Powerstation and Workflo. Powerstation would offer beautiful and functional workspaces for small and medium scale business at the right prices and Workflo is budget-friendly, functional co-working solution catering to the aspirations of a rising India.

Jul 15, 2019

Year-long Visa-free Access to Gurdwara of Kartarpur Sahib

Pakistan agreed to give year-long visa-free access for Indian pilgrims to the holy Gurdwara of Kartarpur Sahib.
The Ministry of External Affairs said in a statement that the agreement was reached at the second formal meeting held at Wagah, at which India took up the presence of Khalistan supporters in Pakistani territory.
It was agreed to allow visa-free travel for the Indian passport-holders and OCI card-holders seven days a week.
Throughout the year, 5,000 pilgrims would be allowed to visit the Kartarpur Sahib Gurdwara per day. The pilgrims would be allowed to travel as individuals or in groups and also on foot.

Jul 12, 2019

Vistara Announces First International Flight

Full-service carrier Vistara announced first international flight to Singapore from Delhi and Mumbai starting August 6.
Vistara will operate two daily flights to Singapore, one each from Delhi and Mumbai, providing its globally applauded service to travellers on these routes.
Vistara, joint venture of Tata Sons and Singapore Airlines, would fly its Boeing 737-800NG aircraft with two-class cabin configuration (Business and Economy) to Singapore.
The airline announced introductory all-inclusive round-trip fares at Rs. 21,877 for Delhi-Singapore-Delhi and Rs. 20,778 Mumbai-Singapore-Mumbai.

Jul 08, 2019

Jaipur Declared World Heritage Site

The Walled City of Jaipur, known for its iconic architectural legacy and vibrant culture, Saturday made its entry into the UNESCO World Heritage Site list.
The announcement was made after the 43rd Session of the UNESCO World Heritage Committee, underway at Baku (Azerbaijan) from June 30 to July 10, examined the nomination of the Walled City of Jaipur for inclusion in the World Heritage list.
The historic walled city of Jaipur in Rajasthan was founded in 1727 AD under the patronage of Sawai Jai Singh II. It serves as the capital city of the culturally-rich state of Rajasthan.
"The city was proposed to be nominated for its value of being an exemplary development in town planning and architecture that demonstrates an amalgamation and important exchange of ideas in the late medieval period.
The World Heritage Committee is composed of representatives of 21 States Parties to the World Heritage Convention who meet annually. The Committee is in charge of implementing the Convention. To date, 1,092 sites in 167 countries have been inscribed on the World Heritage List.

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