Travelers Financial News

ICRA expects the strong demand in the second half of this fiscal year to contribute to double digit revenue growth for the hospitality industry in fiscal year 2024. «ICRA expects the Indian hotel industry to report double-digit revenue growth in FY2024, supported by the sustenance of domestic leisure travel, demand from meetings, incentives, conferences, and exhibitions (MICE), and business travel, along with an increase in foreign tourist arrivals (FTAs). The industry has also benefited from the G20 summit and the ongoing ICC World Cup 2023,» the company said in a statement.

India registers 108% surge in transactions for travel, online home services; BookMyShow, MyJio most preferred merchants According to the survey's findings, 84 percent of respondents expressed their desire for the government and its public sector units (PSUs), including IRCTC, to cease the practice of charging convenience fees or service charges and instead promote the Digital India initiative. This demand reflects the sentiments of consumers who seek a more cost-effective and convenient online experience.

The Indian hotel industry is expected to report double-digit revenue growth in FY24, supported by the sustenance of domestic leisure travel, demand from meetings, incentives, conferences, and exhibitions (MICE), and business travel, along with an increase in foreign tourist arrivals (FTAs), said a report by ICRA. The industry has also benefited from the G20 summit and the ongoing ICC World Cup 2023, it added. 

Narendra Modi will on Thursday launch a scheme in Maharashtra aimed at benefitting over 86 lakh farmers and launch projects worth over Rs 7,500 crore and then travel to Goa to inaugurate the 37th National Games. An official statement said Modi will begin his Maharashtra tour by offering prayers at the famous Shri Saibaba temple in Shridi and inaugurate its new «darshan queue complex». He will perform «Jal Pujan» of Nilwande Dam and dedicate a canal network of the dam to the nation and later attend a public programme in Shirdi to inaugurate and lay the foundation stone of multiple development projects worth about Rs 7,500 crore in sectors like health, rail, road and oil and gas.

Washington state senator was arrested in Hong Kong for carrying a gun that was not registered in the semi-autonomous Chinese city, his website and local media reported. He was released on bail Monday. Jeff Wilson, a Republican from Longview, was arrested after landing at the Hong Kong International Airport on Saturday.

Bloomberg reported. This demand followed a day of intense debates at the Security Council regarding the escalating violence that has the potential to ignite a regional conflict. “And those appalling attacks cannot justify the collective punishment of the Palestinian people," Guterres told the Security Council.

Goa government is working on attracting more 'digital nomads' and technology investment to the state by bolstering its electronics and accommodation infrastructure. This quarter, co-working shacks called 'sea hubs' will be set up along the beach, the state's minister of tourism and IT, Rohan Khaunte, told ET. «They can go and surf in the water, they can go to the shack and have some good Goan food, and then go and work at a workstation,» he said. High-speed internet connectivity in rural areas is crucial for both 'digital nomads' and the success of Goa's homestay policy, which the state government plans to roll out next month to take tourism to the hinterland.

By Manya Saini

This storm is anticipated to disrupt travel significantly in at least six states, according to AccuWeather. As of midday Tuesday, roughly 2.5 million residents are living in areas under some form of winter weather alert due to the storm, according to the National Weather Service. States affected include Washington, Oregon, Idaho, Montana, Wyoming, and North Dakota. Winter storm warnings and watches have been issued for sections of the Cascades and northern Rockies as the storm approaches. Meanwhile, tropical Storm Otis strengthened early Tuesday as it approached Mexico’s southern Pacific coast and was forecast to become a hurricane before making landfall near the resort of Acapulco late Tuesday or early Wednesday. The US National Hurricane Center said that Otis was about 155 miles (250 kilometers) south-southeast of Acapulco on Tuesday morning with winds of 70 mph (110 kph). It was moving north-northwest at 8 mph (13 kph). In the Atlantic, Hurricane Tammy has made landfall on the Caribbean's Barbuda as Category 1 hurricane.

Top Wall Street bankers said they’re pessimistic about the outlook of the global economy next year with elections in the US, monetary policies and escalating Middle East tensions weighing on sentiment. 

Top Wall Street bankers said they’re pessimistic about the outlook of the global economy next year with elections in the U.S., monetary policies and escalating Middle East tensions weighing on sentiment. 

₹48,000 including airline or rail and bus tickets; lodging; cars and cruises and destination activities for travel over 100 kilometres in the past 12 months. But those in the age group of 45-54 were the highest spenders, exceeding the average at ₹58,000.

MUMBAI : A remarkable shift has unfolded in the world of banking over the past decade in India, and it’s not what you might expect. This time, it’s not the mega loans to corporate giants that are making bankers nervous. The latest cause for concern is much smaller in scale: Consumer loans, each less than ₹50,000.

Maui County's mayor says all of West Maui except for burned-out sections of historic Lahaina will reopen to tourism on Nov. 1

Tens of thousands of people, many of them Chinese, have been caught up in cyber scams based in Southeast Asia

Kremlin has officially quashed recent online rumors concerning the health of President Vladimir Putin, asserting that he remains hale and hearty. Kremlin spokesperson Dmitry Peskov firmly rebuffed claims of body doubles, branding them as an «absurd hoax.» Speculations surrounding President Putin's well-being emerged following an unverified report from a Russian Telegram channel, which subsequently garnered attention from certain Western media outlets, alleging a serious health incident on a recent Sunday evening. Despite his 71st birthday on October 7th, Vladimir Putin is a judo fanatic and presents himself as a dynamic and vigorous leader.

In terms of comfort and luxury, train coaches are evolving into hotel suites. Recently, the Rail Coach Factory (RCF), Kapurthala, showcased its newest creation, which has features that compete with business class of airlines. It has designed a new AC first class coach, an “interiors on demand” concept, which will be proposed to the Railway Board soon, TOI has reported. This type of coaches will make trains look luxurious and opulent as well as more confortable with their new-age technology while also providing amenities on demand on select routes. Just what the airlines are known for. With such additions, the Indian Railways is raising the bar for train travel as well as throwing a challenge to low-cost airlines, especially on shorter routes. So far, India has rolled out 34 Vande Bharat trains and plans to roll out 75 more by March next year and 500 in the next three years to further improve the railways network, particularly for short-distance travel.

By Rajesh Kumar Singh and Abhijith Ganapavaram

Canada’s chief accessibility officer says her wheelchair was left in Toronto after she boarded an Air Canada flight over the weekend, describing the experience as “unacceptable.”

An off-duty Alaska Airlines pilot has been charged with 83 counts of attempted murder after he allegedly tried to disable the engines of a passenger plane mid-flight.

Hotel chains in India have focused on the asset-light model over the past decade to drive profitability. But has the strategy delivered results? An analysis of the financials over the past eight years, which typically forms the industry cycle for hotels, reveals that the listed large and medium-sized hotel companies reported better profitability during the period, underscoring the effectiveness of having a lighter balance sheet. In an asset-light model, instead of owning properties, hotel companies adopt the franchise route thereby reducing capital investment.