Rajesh Namby appointed as general manager of The Lodhi, New Delhi

Key Take Away

The Lodhi, New Delhi has announced the appointment of Rajesh Namby as the general manager of the hotel. Having rich experience spanning over two decades in the hospitality industry. He was associated with renowned hotel chains like The Leela, Hyatt, Hilton, and Taj Group.

His last assignment was as general manager of The Leela Palace. He was associated with the Leela Group for 17 years and was an integral part of their culinary operations. Under his leadership, The Leela Palace, Udaipur saw new developments and consecutively won several accolades.

For More Infomation

www.hotelierindia.com/operations/10973-rajesh-namby-appointed-as-general-manager-of-the-lodhi-new-delhi

Mumbai: Horrific accident on Marine Drive; 18-year-old son of hotelier killed, friend hurt

 An 18-year-old son of a hotelier was killed and his friend suffered serious injuries when their speeding car collided with a stationary bus at Marine Drive in South Mumbai. The incident took place at 4:30 pm on Tuesday.

The mishap occurred on SN Road near BD Somani Chowk, nearly 100 metres before the Marine Drive flyover as the car was en route to Chowpatty. There is no clarity on why the teenagers had gone to Marine Drive during the lockdown.

Aryaman Nagpal, the son of Rajesh Nagpal (part-owner of Taj Group of Hotels), was rushed to Sir HN Reliance Foundation Hospital and Research Centre where he succumbed to his injuries. Shouryasingh Sharad Jain is undergoing treatment at the Harikishandas Hospital. As per The Times of India, Jain was behind the wheel.

Impact of "New Business Model" by IHCL on Investors →

Investors in IHCL seem to be betting on its asset-light strategy.

Step taken by IHCL for Hotel Industry brought lot of changes in Market a major shift from Traditional Strategy to Asset Light Strategy focus on Equity Investment on those where an organization's expertise achieves the best return for investors.

Benefit of this Strategy are:

• Positive impact on investors

• IHCL and EIH Ltd have outperformed the Nifty Midcap Index on a one-year horizon

• Higher Returns on Investment (ROI)

• Ebitda (Earnings Before Interest, Tax, Depreciation and Amortization) rose by 16% after the implementation of Indian Accounting Standards -116 norms

• Higher operating performance implied costs are being in control.

• “Traction in new signings continued with addition of 1,257 rooms in Q1FY20 (April-June) across seven cities, which took the pipeline to 4,500-plus rooms (FY19: 4,000 rooms)."  According to Edelweiss Securities Ltd.

• Seven new contracts in Q1 added

• Occupancy rates in the industry moved up by 3% points to 69% year-on-year in FY2019, according to data from ICRA Ltd.

• UK & US business remain in cloud .

• Earnings Per Share (ERP) Increase by 35% average compounded rate due to Margin Expansion and Lower Capex Intensity.

source : ET

Indian Hotels Company signs new Vivanta in India

The Indian Hotels Company has signed a new Vivanta hotel in Katra, Jammu and Kashmir, India with Delhi-based DMG Group.

The DMG Group's existing hotel in Katra has 80 guestrooms spread over eight acres of land. The property is close to the Jammu airport, the Holy Shrine, the Trikuta Mountains, Patnitop, Nathatop, Mansar Lake, Shivkhori, Nau Devi, Baba Dhansar and Sanasar Lake. DMG Group will invest approximately Rs10 crore to convert the hotel under the Vivanta brand by early 2019. 

“We are pleased to partner with DMG Group in bringing the Vivanta brand to Katra. This announcement is aligned to our strategy of expanding our footprint and driving growth across popular pilgrimage and tourist destinations,” Suma Venkatesh, EVP of real estate and development at Indian Hotels Company, said in a statement.