Zomato raised INR 8,500 crore through QIP by issuing and allotting 33 crore equity shares at an issue price of INR 252.62 per share. The company’s board approved this fundraising initiative, which was announced last month. This capital infusion comes at a competitive time for the quick commerce industry receiving a surge in funds.
The Leela launches its Hyderabad hotel in Banjara Hills
Spread over 2.5 acres, The Leela Hyderabad is an artful 156-room luxury address and showcases a unique collection of restaurants offering discovery dining and heirloom experiences, said a release.
We promote the culture and heritage of the area, not just our properties: Prithvi Singh Kanota
The director of Kanota Resorts, a heritage tourism company which owns Narain Niwas Palace Hotel and Castle Kanota in Jaipur and Rajmahal Palace Hotel, Tonk district, Rajasthan shares how heritage hotel operations are different from mainstream properties.
Growth trends in travel and tourism here to stay: Rajesh Magow
The co-founder and group CEO, MakeMyTrip felt that the industry was set to continue growing steadily in the future.
India needs to increase investments in sustainable and responsible tourism
Former bureaucrats, diplomats and industry experts at the third annual ET Travel and tourism conclave and awards unanimously felt the need for government and industry to increase investments on responsible and sustainable tourism.
Third ET Travel & Tourism Conclave to deliberate future of Indian hospitality
The third annual essay of ET’s Travel & Tourism Conclave and Awards scheduled at Crowne Plaza Gurugram on November 26, 2024 will see the who’s who of the Indian travel and hospitality industry converging.
Zomato shareholders approve INR 8,500 crore QIP plan
Zomato shareholders have overwhelmingly approved a plan to raise ₹8,500 crore ($1 billion) through a new share sale. The move aims to bolster the Indian food delivery giant’s finances amid fierce competition in the rapidly expanding quick-commerce sector.
Demand to hold ground despite supply growth in Noida, Greater Noida: Anirban Sarkar
The general manager of Radisson Blu Greater Noida analyses the demand-supply dynamics expected to play out in one of the key micro-markets of Delhi NCR which has seen more inventory addition and robust RevPAR growth.
Hotel brands to add 94,000 keys in India by 2029
India is experiencing a surge in branded hotel room construction, with 94,000 rooms slated for addition by 2028-29. Major players like IHCL, Marriott International, and Radisson Hotel Group are aggressively expanding their portfolios, particularly in tier 2 and 3 cities. This expansion is driven by a focus on quality and catering to a diverse range of travelers.
Looking to continue growing at the right pace
Vamsi Mareddy and Sandeep Nagaiah, the co-founders of Paper & Pie speak about the need to expand the business while retaining his workforce.