Hyderabad is likely to see a surge in hotel count riding on the back of its growing IT and allied sectors. The Andhra Pradesh capital’s hotel inventory is likely to increase by at least 50 per cent in three years from 8,104 keys at present to 12,314 keys with the addition of new hotels ranging from the mid-segment to luxury grade, according to a Cushman and Wakefield report.
Park Plaza Hotels Ltd. (PPH.L: News ) Thursday reported a profit before tax of 60.5 million euros, compared to the prior year loss of 7.2 million euros, on the back of gains from applying IFRS accounting and also from achieving full control of previously jointly-owned hotels.
Carlson, a global hospitality and travel company, today announced that it has signed four new hotel management agreements in China. This was announced by Hubert Joly, president and chief executive officer, Carlson, at the annual China Hotel Investment Conference in Shanghai today.
The Rezidor Hotel Group, one of the fastest growing hotel companies worldwide and with almost 13,000 rooms in operation and under development, announces the Park Inn Novosibirsk.