General Awareness

TOURISM AND HOTEL INDUSTRY AWARENESS - February 2021

Feb 2021

Jun 08, 2021

Hyatt Regency Mumbai Shuts Operations Indefinitely

Hyatt Regency Mumbai has shut its Mumbai property due to the financial crunch facing its asset owner Asian Hotels (West). The five star property issued a notice informing the staff on its roll that no funds are being infused from the property owner to meet the operational expenses of the hotel including payment of salaries. The hotel, therefore, has to be closed until further notice.
Hyatt is managing the property in Mumbai on a contract basis on behalf of Asian Hotels.
Hyatt is an American hospitality brand that manages and franchises hotels.

Jun 06, 2021

RBI Creates Liquidity Window to Help Hotels, Tourism

The Reserve Bank of India (RBI) in 2021 announced creating a special liquidity window of Rs. 15,000 crore with a tenor of 3 years at the repo rate to provide liquidity support to the contact-intensive sectors hit by Covid-19.
The special liquidity window encourages banks to provide fresh lending support to hotels, restaurants, tourism, aviation ancillary services, and other services including private bus operators, car repair services, rent-a-car service providers, event/conference organizers, spa clinics, and beauty parlours/saloons.
These sectors have seen the biggest impact due to the second wave as authorities started imposing lockdown measures to curb the spread of the virus.
These sectors will be permitted to park their surplus liquidity, equivalent to the size of the loan book created by them under this scheme, under the reverse repo window at a rate which is 25 basis points (bps) lower the repo rate, or 40 bps higher than the reverse repo rate.

Jun 03, 2021

Mumbai's Civic-run Zoo to Expand for New Animals

The civic-run Byculla Zoo in Mumbai is set to expand by 10 acres to house new enclosures for several exotic species of animals that will be brought to the facility in the next few years, officials said on Monday.
One of the city's most patronised venues, officially called the Veermata Jijabai Bhosale Udyan, it is currently spread over 53 acres and the extra 10 acres have already been procured for a third phase of expansion, they added. A tender had been floated for the expansion work that will see the construction of 15 enclosures to house animals like the giraffe, white lion, black jaguar, chimpanzee, ostrich, ringtail lemur and cheetah etc.

May 31, 2021

Thailand Proposes $1 per Night Deal to Entice Tourists

Having kept its borders tightly sealed to leisure travelers for over a year amid COVID-19, Thailand now faces a pressing need to attract foreign tourism, which accounted for one-fifth of its economy in pre-pandemic times.
The popular resort island of Phuket is set to welcome fully vaccinated international visitors quarantine-free starting July 1, three months earlier than the rest of the country.
To entice tourists back, the Tourism Council of Thailand (TCT) has proposed a new 'One Night, One Dollar' campaign, which would see participating hoteliers offering room rates of US$1 per night to foreign guests for accommodations that would typically run somewhere between 1,000 baht (US$32) and 3,000 baht (US$96) per night.

May 27, 2021

OceanSky to Launch North Pole Trips

OceanSky has launched tickets for a unique journey, a chance to land on the North Pole in the first hybrid airship in history.
The Swedish company will offer the highest level of comfort for these flights, in what will be the largest flying vehicle in the world.
Expeditions will start in Longyearbyen, Svalbard, flying passengers to the North Pole and landing.
Initial flights are anticipated to start from 2024.
Modern large-scale lighter-than-air vehicles have good payload capacity and can stay airborne for days.
OceanSky was founded in 2014 after many years of research and investigation into the lighter-than-air sector and are building business development for more sustainable alternatives in aviation.

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