News

As per the DRHP, the company plans to deploy an estimated Rs 1121.3 crore from the net proceeds towards the full or partial repayment of borrowings of itself and proceeds towards the full or partial repayment of borrowings of itself and its material subsidiaries. Sai Chakra Hotels and Northland Holding Company as well as for strategic acquisitions and general corporate purposes. Rs 397.2 crore will be allocated towards direct loan repayments, and Rs 724 crore will be invested in subsidiaries.

Prestige Hotel Ventures Limited, a hospitality asset owner and developer under the umbrella of real estate major Prestige Group, has filed its Draft Red Herring Prospectus along with the Securities and Exchange Board of India for launching a public offering aggregating up to ₹ 2,700 crores.

The IPO consists of a fresh issue of equity shares worth up to Rs 1,700 crore and an offer for sale component of up to Rs 1,000 crore by its promoter entity, Prestige Estates Projects Limited. The face value of the equity shares is Rs 5 each.

According to the DRHP, the company plans to deploy an estimated Rs 1,121.3 crore from the net proceeds to fully or partially repay borrowings of itself and its material subsidiaries, Sai Chakra Hotels and Northland Holding Company, for strategic acquisitions, and general corporate purposes. Rs 397.2 crore will be allocated towards direct loan repayments, and Rs 724 crore will be invested in subsidies.

Prestige Hotel Ventures is focused on developing and managing luxury, upper upscale, and upper-midscale hospitality assets for both business and leisure travellers. As of December 31, 2024, the company operates a portfolio of seven hotels with 190 keys, all of which are currently under renovation. Additionally, three ongoing projects are expected to add 951 keys, and nine upcoming properties have 1558 keys in the pipeline.

The company’s hospitality footprint spans major metro cities, including Bengaluru, Delhi-NCR, Mumbai, Goa, Hyderabad, and Chennai. These assets are strategically located near key commercial hubs, airports, and tourist destinations, further enhancing viability.

Prestige Hotel Ventures said it has aligned with some of the world’s leading hospitality brands. It has franchise or management agreements with Marriott International across multiple brands, including St. Regis, JW Marriott, W Hotels, and Moxy, as well as with Hilton’s Conrad and Banyan Group’s Angsana. Notably, the company accounts for 9% of the Marriott-managed hotel portfolio in India. The company’s revenue from hospitality services has shown robust growth, increasing from Rs 191.7 crore in FY22 to Rs 795.7 crore in FY24, a compound annual growth rate of 103.7 per cent. Revenue in the nine months ended December 2024 stood at Rs 662.7 crore, up from Rs 560.3 crore in the same period the previous year. JM Financial, CLSA India, JP Morgan India, and Kotak Mahindra Capital are the book-running lead managers for the IPO.

#prestigegroup #venture #ipo #travelnews #news #viralnews #tourismupdate #hospitality #tradeexpansion

Founded in 1974 in France, Magnicity transforms traditional sightseeing into indulgent multi-sensory experiences. Its portfolio includes iconic observation spaces at the Paris Montparnasse Observatory, the Berliner Fernsehturm in Germany, 360 Chicago in the United States, Euromast and Celest in Rotterdam, and the upcoming Highline Warsaw in Poland.

Global city experiences leader Magnicity has appointed AVIAREPS India as its official Sales, Marketing and PR representative to strengthen its brand visibility and engagement within the Indian market. This strategic move comes as India's outbound tourism grows rapidly and is projected to become the fifth-largest source market globally by 2027.

Founded in France in 1974, Magnicity transforms traditional sightseeing into indulging multi-sensory experiences. Its portfolio includes iconic observation spaces at the Paris Montparnasse Observatory, Berliner Fernsehturm in Germany, 360 Chicago in the United States, Euromast and Celest in Rotterdam and the upcoming Highline Warsaw in Poland. The brand's offerings blend panoramic city views with curated culinary experiences, cultural storytelling and architectural insights.

Commenting on the development, Alexa Vetter, CEO of Megacity, said, "We are excited to strengthen our presence in the Indian market, a country known for its vibrant and curious travellers. This collaboration marks the beginning of our expansion plans into Asia, and we look forward to welcoming more Indian visitors to our global locations."

Ellona Perira, General Manager of AVIAREPS India, noted, "We are delighted to represent Megnicity, a brand that transforms sightseeing into a storytelling journey. With India's deep-rooted appreciation for culture and immersive experience, Magnicity's philosophy will truly resonate with Indian travellers, enhancing their journeys with unforgettable moments and a unique perspective."

As part of the partnership, AVIAREPS India will lead targeted sales initiatives, strategic media negotiation and collaborations within the travel trade to promote Magnicity as a must-visit experience for Indian FIT and MICE. The partnership highlights Magnicity's ambition to tap into India's expanding outbound travel potential and offer Indian tourists memorable urban experiences across its global sites.

#news #travelnews #travelbrand #france #india #storytelling, #culinaryexperience #architecture #sightseeing #aviareps

Saudi Arabia's tourism workforce rose to 966,500 in Q4 2024, marking a 4% year-on-year increase. Saudis make up 25% of the sector. Despite a slight drop in tourism's share of total employment, the rise in licensed hotels and hospitality facilities is driving demand for talent.

Saudi Arabia's tourism sector employed 966500 workers in the fourth quarter of 2024, a 4% increase from Q4 2023, according to new data from the General Authority for Statistics. The industry now comprises 5.5% of the nation's total workforce and 8-2% of private-sector employment.

Saudi nationals accounted for 25% of the tourism workforce, while 75% were non-Saudis. Gender disparity remains high, with male employees making up 86.7% and female workers just 13.3% of total employment in the sector.

The workforce growth comes despite a slight decline in tourism's share of total employment compared to Q4 2023. GASTAT attributes this to the broader expansion of other economic sectors. Hotel room occupancy dropped to 56% in Q4 2024, down 4.3 percentage points from the previous year, driven by a rise in licensed hotels, now at 2163. Conversely, serviced apartments and other facilities recorded a slight occupancy increase of 55.9%. Across all categories, the number of hospitality facilities rose to 4400 by the end of the quarter.

While average hotel room rates dipped 2.1% year on year to SR 440, prices for serviced apartments jumped 25.1% to SR 220, mirroring shifting demand patterns.

The recent figures signal growing job opportunities in hospitality, particularly for nationals and women, as Saudi Arabia advances its tourism diversification goals under Vision 2030.

saudiarabiatourism #tourismupdate #visitsaudi #travelupdate #news #saudihospitality #hospitalty 

Officials confirmed at the India Travel and Tourism Sustainability Conclave 2025 that the Centre is drafting guidelines to develop India's top 50 tourist destinations in partnership with the state, with the first list to be executed by year-end. The initiative announced in the Union Budget aims to drive employment-led growth, boost infrastructure, and improve destination management amid concerns over overcrowding and sustainability.

The Centre is working on preparing guidelines for the top 50 tourist destinations in the country proposed in the Union Budget, which are to be developed in partnership with the states. A senior official said on Wednesday that the first set of destinations is expected to be identified by the end of this year. During a panel discussion at a conclave, Suman Billa, Additional Secretary in the Ministry of Tourism, noted that informal consultants have begun working with states.

In the Union Budget speech on February 1, Finance Minister Nirmala Sitharaman announced that the country's top 50 tourist destinations will be developed in partnership with states in a challenging mode. She had emphasised tourism as a driver of employment-led growth and unveiled a series of initiatives aimed at bolstering infrastructure, skill development and ease of travel. Billa and senior leaders from various private hotel chains participated in a panel discussion on "The Triple Bottom Line in Hospitality - People, Planet, and Profit" at the day-long India Travel and Tourism Sustainability Conclave 2025. MakeMyTrip Foundation and the World Travel and Tourism Council India Initiative hosted it.

The panellists answered the moderator's host of queries on the economics of sustainability, the future roadmap of hotel groups, and the challenges that lie ahead in the sector. The additional secretary was unsure whether the proposed 50 destinations had been identified and if the ministry had begun consulting with the states.

Informed consultations have started. What we are working on are guidelines. And the first guidelines will be shown to the states. Hopefully, we think the first set of the 50 destinations will be identified this year," he said.

In the budget speech, Sitharaman stated that facilitating employment-led growth involves organising intensive skill development programmes for youth, managing MUDRA loans for homestays, enhancing the ease of travel and connectivity to tourist destinations, introducing streamlined e-visa facilities, and offering performance-linked incentives to states.

The Ministry of Tourism has earmarked a significant increase in its budget allocation for the 2025-2026 fiscal year. The focus will be on enhancing tourism infrastructure, promoting domestic and international travel, and ensuring the safety of tourists, particularly women.

The total budget allocation for the ministry for 2025-2026 stands at INR 2541.06 crore, marking a substantial increase from the revised estimate of INR 850.36 crore in 2024-2025. The panellists also discussed overcrowding issues at regular tourist destinations, such as Goa and Manali in Himachal Pradesh, and their associated concerns.

Billa said, "Most of our tourist destinations are overcrowded, and the second problem is who is managing these destinations. Assuming that the concept of sustainability is embedded in the Indian ethos, Union Tourism Minister Gajendra Singh Shekhawat, in his keynote address, stated that there is a need to create "success stories" on sustainability in the tourism sector and replicate them nationwide.

#topdestinations #top50destination #2025travel #touristdestination #travelnews #travelupdate #conclave2025 #indianhospitality

Siri Nor’s roadmap includes commercialising the UAV engine by mid-2026, seaplane certification by 2027 and regional aircraft certification by 2030. The company is positioning itself to tap into the $100 billion+ global jet engine market over the next five years. Strategic chain partnerships are already being established across Pune, Bangalore, Coimbatore, and Hyderabad.

Deep-tech aerospace startup SiriNor, headquartered in India and Norway, has completed ground testing of its proprietary all-electric jet engine, achieving a Technology Readiness Level 6 under NASA’s framework. The test conducted in Pune marked a critical milestone towards commercialising what the company claims is the world’s first emission-free jet propulsion system. The engine prototype exceeded its design specifications, reaching over 40,000 RPM and generating 10 kgf of thrust, validating its performance under controlled laboratory conditions. With a scalable architecture, the engine is designed for a wide range of applications across USV's regional aircraft, seaplanes, and defence platforms.

Speaking after the demonstrations, Alok B Shriram, Senior Managing Director and CEO of DCM Shriram Industries and an early investor, said: “This represents serious homegrown technology built in India. I truly believe this is the future of aviation.”

Sir Bor’s investor list includes Shell E4, Mr Shriram, and other prominent angels. Seven LOIS have already been signed, along with eight global UAV and aviation players. A multinational team of engineers and aerospace professionals with experience at Airbus, Vistara, GE, Equinor, and Pratt & Whitney supports the startup.

Company Chairman and CEO Ivar Aune described the mistletoe as technical and symbolic: “TRI6 is a testament to five years of relentless work by our brilliant team. This is just the beginning.”

Sir Nor’s roadmap includes commercialising UAV engines by mid-2026, followed by seaplane engine certification by 2027 and regional aircraft certification by 2030. The company is positioning itself to tap into the $ 100 billion+ global jet engine market over the next five years.

The electric engine is power source agnostic and eliminates combustion, enabling 30% lower manufacturing costs and up to 40% lower maintenance. Strategic supply chain partnerships are already being established across Pune, Bangalore, Coimbatore, and Hyderabad.

“Sustainability and flexibility are built into our architecture,” added Abhijeet Inamdar, co-founder and CEO of SiriNor India. “This is about shaping the next era of aviation, and we are proud to be building it from India.”

#sirinor #norwaytravel #indiatourism #aviation #airlinesnews #tourismupdate #technology #electrijetengine

Hoi has partnered with Delhi Duty-Free to provide international travellers with a complimentary travel e-sim, offering up to 10 GB of data, valid across 90 countries. The initiative, available for a three-month period, addresses connectivity concerns for outbound passengers. This move strengthens Hoi's focus on seamless travel experiences and marks another strategic airport collaboration for the travel tech platform.

Travel tech platform Hoi has partnered with Delhi Duty-Free to offer complimentary international e-SIMS to passengers making purchases at the duty-free outlet. The offer includes up to 10GB of data valid in over 90 countries and will be available to customers for a limited three-month period. Designed to address the connectivity challenges of international travellers, the initiative enables passengers to activate their e-SIMS in just a few steps before departure, eliminating the need for costly roaming or the inconvenience of sourcing local SIMS abroad. The campaign is expected to improve the international airport shopping experience by adding value to customer transactions.

The partnership reflects Hoi's growing focus on elevating air travel by digitising traditionally fragmented airport processes. Already in airports across Delhi, Hyderabad, and New Goa, Hoi provides digital services such as real-time updates, gate change alerts, and innovative wayfinding, all integrated into one platform.

Dhruv Godara, Deputy CEO of Hoi, said, "Connectivity has become an essential part of modern travel, yet international data roaming remains prohibitively expensive for many. Through this partnership, we remove that barrier while introducing travellers to Hois' comprehensive passenger experience ecosystem.

This coming together aligns perfectly with our mission to make every aspect of  air travel more connected, convenient, and stress-free."

The e-SIM offer is available to all customers who purchase in Delhi duty-free during the campaign period. Once activated, users can remain connected upon arrival at their international destinations without incurring high roaming charges or needing a physical SIM card.

#travelnews #travelupdate #touristnews #travelessential #esim #communication #mobiledevice #delhiairport #dutyfree

BCD Travel's latest survey reveals that rail remains the preferred choice among business travellers in Europe and the Asia Pacific, especially when journey time and cost are comparable to air travel. Key drivers include convenience, the ability to work while travelling and sustainability. However, delays, overcrowding and policy clarity persist, impacting overall satisfaction with rail travel.

Rail will remain a preferred option for business travel in 2025, with BCD Travel's recent survey showing strong support among corporate travellers in Europe and Asia Pacific. The survey gathered responses from 681 travellers who had taken at least one business rail journey in the past year, examining habits, obstacles, and satisfaction levels.

The findings indicate that if travel time and cost are similar, two-thirds of respondents would choose rail over flying. Convenience, easy station access, and the ability to work en route were the top reasons for this preference. Environmental factors also influenced decisions, with nearly a third of travellers selecting rail for its sustainability.

Olivia Ruggles Brise, Vice President of Sustainability at BCD Travel, noted, "Enforcing rail bookings in place of short-haul flights can help lower travel emissions. However, travellers must be aware of such policy changes to make an impact. Communication is key, whether through intranet, email, or directly within booking platforms."

Despite the preference for rail uptake, it is still hindered by limited policy support. Only 6% of employers enforce rail use, and just a third encourage it. Meanwhile, over half of travellers book directly through rail providers' websites, with only three using company tools like BCD's TripSource.

"Taking the train can reduce carbon emissions by up to 95% compared to flying," said Ruggles Brise. "It is encouraging to see this reflected in traveller choices. Our expanding rail functionality in TripSource supports this shift toward more sustainable travel."

Challenges persist; however, around 50% reported disruptions from delays or strikes, with overcrowding, limited network reach, and high prices also being cited. Half of the respondents faced cancellations, and many noted poor policy clarity and cumbersome booking processes.

Yannis Karmis, SVP of product and development at BCD, stated, "We are working closely with rail suppliers and technology partners to improve reliability and visibility. We aim to provide travellers with a more resilient and connected rail experience that meets business and sustainability goals."

#railtravel #travelnews #asiadestinations #MICE #micetravel #europetravel

This summer's highlights include immersive multi-destination itineraries combining iconic locations such as Kyoto, Osaka, and Tokyo in Japan or beach-to-jungle adventures across Bali's Jimbaran Bay and Sayan resorts. Other curated routes link Guangzhou and Shenzhen in China and Bangkok with Koh Samui in Thailand, promoting the meeting trend of connected slow travel.

Four Seasons has revealed a new collection of summer experiences across its Asian properties, designed to offer travellers deeper cultural immersion, slow travel opportunities, and exclusive luxury stays. The initiative aims to blend extraordinary comfort with meaningful local experiences, encouraging guests to create lasting memories beyond conventional holidays.

This summer's highlights include immersive, multi-destination itineraries that combine iconic locations such as Kyoto, Osaka, and Tokyo in Japan or beach-to-jungle adventures across Bali's Jimbaran Bay and Sayan resorts. Other curated routes link Guangzhou and Shenzhen in China and Bangkok and Koh Samui in Thailand, promoting the merging of trains and slow travel.

Alongside these journeys, Four Seasons offers exclusive villa and suite escapes tailored for private, experiential stays. Signature properties, such as the Imperial Three-bedroom Beach Villa at Four Seasons Resort Langkawi and the Sunset Three-bedroom Water Suite at Four Seasons Maldives at Kuda Huraa, have been highlighted for their bespoke amenities, including private pools, personal attendants, and direct access to amenities and cultural activities.

Four Seasons is showcasing its portfolio of over 900 villas and residences across the region for travellers seeking extended stays or group holidays. Properties like Four Seasons Private Island Maldives at Voavah, offering a fully private UNESCO sanctuary, and the Residential Suites at Four Seasons Hotel Kyoto, with access to a 10,000 square heritage garden, exemplify the mix of privacy and personalised service.

Additionally, destination-specific experiences will allow guests to engage more intimately with local culture. These include snorkelling with manta rays at Four Seasons Resort Maldives at Landaa Giraavaru, participating in a Muay Thai workshop in Koli Samui, learning Japanese ink painting at Four Seasons Tokyo at Otemachi, and sunset cruises paired with Michelin-starred dining in Hong Kong.

"This summer, we are introducing experiences that feel personal, story-driven and unlike anything else in the region," said Rami Sayess, President of Hotel Operations Asia Pacific Four Seasons. He emphasised that the brand focused on offering extraordinary comfort and a profound sense of place, allowing guests to craft stories they will cherish for a lifetime.

#fourseasons #hospitality #hotels #luxurystays #asiatravel #summervacations #summerexperiences #multidestinations #itineraries #asiaproperties

Commenting on the development, Andy Smith, Chief Commercial Officer at Flydocs, said, "We are proud to partner with SunClass Airlines to enhance the customer experience through digital transformation. Our DRM solution will seamlessly integrate with AMOS to enhance compliance-ready digital records while LAM provides a single source of truth to minimise recovery risks and optimise maintenance planning."

Flydocs, a global leader in digital records asset management and engineering services for the aviation sector, has announced a strategic five-year partnership with Sunclass Airlines, the largest charter airline in the Nordic region.

The collaboration wants to enhance Sunclass's operational efficiency and fleet management by adopting Flydocs Digital Records Management and Lifestyle Asset Management solutions.

Under the agreement, Sunclass Airlines will integrate DRM and LAM systems to streamline and digitise its technical records processes, gaining real-time visibility into asset compliance and lease return conditions.

The unified approach will help the airline align its asset management strategies with engineering priorities, ultimately enabling more innovative maintenance planning, cost avoidance, and reduced risk during aircraft transitions through predictive analytics and scenario modelling.

The partnership complements Sunclass's existing collaboration with AMOS, a leading maintenance and engineering software solution, which is part of Flydocs' broader Digital Tech Ops Ecosystem.

This integrated system will provide Sunclass with a comprehensive platform to enhance its technical operations across the value chain. Commenting on the development, Andy Smith, Chief Commercial Officer at flydocs, said, "We are proud to partner with Sunclass Airlines to enhance the customer experience through digital transformation. Our DRM solution will seamlessly integrate with AMOS to ensure compliance-ready digital records while LAM provides a single source of truth in minimising redelivery risks and optimising maintenance planning."

Martin Hodgkinson, Director of Fleet and Technical Strategy at Sunclass Airlines, expresses enthusiasm about the partnership, stating, "We are pleased to collaborate with Flydocs to elevate our digital capabilities. Their market-leading solutions will allow us to transition from non-specialised storage tools to a dedicated records management platform. This partnership marks a significant step in our transformation journey."

With this collaboration, Sunclass Airlines will become one of the first users of Flydocs' LAM solution, reinforcing both companies' commitment to driving innovations and operational excellence within the aviation sector.

#nordicregion #nordicfights #travelnews #digitalsolutions #flydocs #sunclass #airlinesupdate

The minister stated that the new digital platform will integrate hospitals, facilitators, travel agents, hotels, translators, and other support services into one comprehensive platform. "The goal is to enhance the overall patient experience from treatment to travel arrangements and post-treatment care," he said in his address at the FICCI's Medical Value Travel conference.

The Central government is working on a comprehensive online portal aimed at boosting the country's position as a global healthcare destination, Minister of State of Ayush and Minister of State for Health and Family Welfare, Prataprao Jadhav, said on Friday.

The minister stated that the new digital platform would integrate hospitals, facilitators, travel agents, hotels, translators, and other support services into one comprehensive platform. "The goal is to enhance the overall patient experience from treatment to travel arrangements and post-treatment care," he said in his address at the FICCI's Medical Value conference.

The government's strategy also includes expanding the healthcare ecosystem beyond major cities into tier 2 and tier 3 regions. Additionally, the government seeks to strengthen collaborations with private players to enhance services throughout the medical value travel process.

In his speech, NITI Aayog member Prof Vinod K Paul spoke about the importance of deregulation in the sector. He also urged industry players to provide suggestions on reducing the compliance burdens for healthcare facilities.

"Visa facilitation plays a key role in the growth of medical value travel, highlighting the need for transparency and trust building between countries," he said about telemedicine. Paul stated that the legal challenges associated with offering remote advice to patients in other countries are significant.

He encouraged India to take the lead in addressing these issues, given its prominent expertise in telemedicine. India's MVT market reached $7.69 billion in 2024 and is expected to grow to $14.31 billion by 2029. The country currently holds 18 per cent of the global market share, ranking 10th in the world in the MVT index.

The government's new digital portal is expected to play a key role in enhancing India's healthcare services for international patients and promoting the country's diverse medical offerings globally.

Meanwhile, medical tourism (MVT) refers to patients travelling abroad to receive healthcare services. This growing trend is fueled by the pursuit of premium medical care at more affordable prices, has reduced waiting times and access to specialised treatments that may not be available in their home country.

#travelupdate #medicaltourism #tourismnews #medicaltourismupdate #digitalportal