Rubystone Hospitality expands portfolio with three new hotels across North India

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June 20, 2026

Rubystone Hospitality expands portfolio with three new hotels across North India — Mehardeep Singh, Corporate Affairs General Manager, Rubystone Hospitality

Rubystone Hospitality has expanded its portfolio with the addition of three new properties across Uttarakhand, Himachal Pradesh, and Uttar Pradesh, further strengthening its presence in northern India’s growing hospitality market. The newly launched properties include Aroha in Dehradun, Raywood by Rubystone in Chamba, and Heavenwood Exxotica by Rubystone in Saharanpur.

The expansion aligns with the company’s strategy to cater to the rising demand for leisure travel, destination weddings, business tourism, and experiential hospitality across key regional markets.

In Uttarakhand, Rubystone Hospitality has introduced Aroha, a luxury villa retreat located in Dehradun. The property features six guest rooms and offers a range of premium amenities, including a swimming pool, fitness centre, and recreational facilities. The company has positioned the retreat as a nature-focused destination for travellers seeking a peaceful and immersive stay experience amidst scenic surroundings.

Meanwhile, in Himachal Pradesh, Rubystone Hospitality has launched Raywood by Rubystone near the picturesque Chamera Lake in Chamba. The property offers 18 rooms, including two spacious family suites, while the remaining accommodations provide panoramic views of the lake. Additionally, the hotel features a lake-facing restaurant and a rooftop dining venue, enhancing the overall guest experience and capitalizing on the region’s growing tourism appeal.

The company has also entered the Uttar Pradesh market with the launch of Heavenwood Exxotica by Rubystone in Saharanpur. The property comprises 70 rooms and caters to a diverse customer base, including leisure travellers, corporate guests, wedding parties, and event organizers. Along with modern accommodation, the hotel offers event and banquet facilities designed to host destination weddings, social gatherings, and business functions.

Commenting on the expansion, Mehardeep Singh, Corporate Affairs General Manager, Rubystone Hospitality, said the company remains focused on creating destinations that combine comfort, exceptional hospitality, and memorable guest experiences. He added that the new properties will offer travellers a wider range of accommodation choices across northern India.

The latest additions significantly enhance Rubystone Hospitality’s presence in emerging regional tourism destinations. Furthermore, the expansion reflects the company’s commitment to capturing opportunities arising from the increasing demand for domestic tourism, experiential travel, wedding destinations, and business events.

With the launch of Aroha, Raywood by Rubystone, and Heavenwood Exxotica by Rubystone, the company continues to strengthen its footprint in India’s hospitality sector while diversifying its offerings across leisure, wedding, and corporate travel segments.

India’s real estate sector emerges as a powerful engine of economic growth and job creation

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June 20, 2026

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India’s real estate, housing, and urban development sectors are poised for significant transformation as rapid urbanisation, infrastructure expansion, and policy reforms converge to redefine the country’s growth trajectory, according to a recent report by KPMG.

The report projects that nearly 40 per cent of India’s population will reside in urban areas by 2036, while almost half of the country’s population is expected to live in cities by 2050. Consequently, policymakers, developers, financial institutions, and urban planners must focus on building resilient and inclusive urban ecosystems that can support long-term economic growth and improved quality of life.

KPMG noted that the real estate sector now serves as more than a traditional economic indicator. Instead, the sector increasingly functions as a structural engine for economic expansion, employment generation, infrastructure development, and urban liveability. Therefore, stakeholders are placing greater emphasis on expanding affordable housing supply, particularly for Economically Weaker Sections (EWS) and Low-Income Groups (LIG), where demand continues to outpace supply.

However, several structural challenges continue to hinder affordable housing development. Rising land acquisition costs, lengthy approval timelines, fragmented regulatory processes, and limited access to finance often affect project viability and delay delivery. As a result, the report recommends a series of targeted interventions to improve project feasibility and accelerate housing supply.

The report highlights the need for higher floor area ratio (FAR) allowances for affordable housing projects, streamlined approval mechanisms through single-window clearance systems, digitised land records and mapping, and reduced development charges. Additionally, authorities must strengthen last-mile infrastructure and align master plans with evolving urban growth patterns to ensure sustainable and inclusive city development.

Alongside homeownership, rental housing is emerging as a crucial component of India’s urban development strategy. As migration to cities increases and housing preferences evolve, rental housing can play a significant role in addressing urban accommodation needs. Nevertheless, the sector remains highly fragmented and largely informal, while institutional participation and investor interest remain relatively low due to limited yield attractiveness.

To formalise the rental housing market and transform it into a structured asset class, the report recommends GST rationalisation, inclusion of rental housing under priority sector lending, conversion of vacant housing inventory into rental assets, and the promotion of co-living and specialised housing models for students, working professionals, and senior citizens. Furthermore, the adoption of Affordable Rental Housing frameworks and public asset monetisation initiatives can significantly expand rental housing supply across urban centres.

The report also underscores the importance of strengthening the regulatory ecosystem to enhance transparency, efficiency, and stakeholder confidence. In particular, it highlights the need for better alignment between the Real Estate (Regulation and Development) Act (RERA) and the Insolvency and Bankruptcy Code (IBC) to improve project outcomes and protect homebuyers.

To strengthen regulatory resilience, KPMG recommends implementing early stress detection systems, digitally integrating quarterly project progress reports, introducing project-specific insolvency resolution frameworks, and enhancing coordination between RERA authorities and insolvency professionals. These measures can help prioritise project completion, safeguard homebuyer interests, reduce project delays, and minimise systemic risks within the real estate sector.

According to the report, India’s urban transformation agenda will depend heavily on execution-focused reforms, stronger institutional capacity, and deeper collaboration between the public and private sectors. Moreover, a balanced approach that combines affordable housing expansion, rental housing ecosystem development, regulatory reforms, and infrastructure investment will define the next phase of sustainable urban development.

As India continues its urbanisation journey, the housing and real estate sectors will remain central to economic growth, investment generation, job creation, and the development of future-ready cities. Consequently, effective policy implementation and collaborative action across stakeholders will be essential to achieving the vision of inclusive, resilient, and sustainable urban growth under Viksit Bharat 2047.

Fireback & Barback open at The Loft, Hyderabad

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June 20, 2026

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EHV International makes its South Indian Debut

National, 20 June 2026 — Following the successful launches of FIREBACK restaurants in Goa and Mumbai, EHV International, the company behind genre-defining concepts like Indian Accent, Comorin, HOSA, and Chor Bizarre, now brings Fireback and Barback to Hyderabad at The Loft, HITEC City, marking the group’s debut in South India.

Named after Thailand’s striking national bird, the Siamese Fireback, the restaurant is a tribute to the theatrics and fire-grilled boldness that define traditional Thai kitchens. At its helm is legendary Chef David Thompson, widely regarded as one of the world’s foremost authorities on Thai cuisine. As Culinary Director of Fireback, Chef Thompson brings authenticity to shaping a menu that could well be seen in a leading restaurant in Bangkok. Veteran Asian specialist Chef Kaustubh Haldipur is the Brand Chef of Fireback.

You enter Fireback in Hyderabad through BARBACK, a cocktail bar inspired by the late-night spirit of Bangkok’s Chinatown. Conceived as a seamless extension of Fireback, together the two venues bring the energy, flavour, and spirit of Thailand to South India.

At Fireback, the experience begins with bold, textural small plates like the Miang Kham, a betel leaf bundle layered with pomelo, toasted coconut, and roasted peanuts. The Pineapple som tam, a sweet and sour reimagination of papaya salad with tamarind, palm sugar, and peanuts, delivers both familiarity and surprise. For something plant-forward, the Pumpkin and sweet potato, glazed in gorlae sauce and fire-grilled, is surprisingly rich in depth and texture. Larger plates include the uncompromising Jungle curry of grilled pork, featuring house-made chili paste, turmeric, and deep-fried shallots. The Red curry with soft-shell crab, fragrant with ginger and lime leaves, offers a moment of richness and indulgence. For comfort and contrast, the Classic Thai Omelette and Green Curry deliver familiarity, each elevated with restraint and technical finesse.

Speaking about Fireback, Chef David Thompson, Culinary Director said, “Thai cooking is not simply about heat or spice: it is about the delicate interplay of flavours, textures, and aromas that combine to create a complete experience. Fireback celebrates the richness of Thailand’s culinary heritage while allowing each dish to display clarity and purpose. As Fireback comes to Hyderabad, we hope guests discover and enjoy the depth, elegance, and diversity that define authentic Thai cooking.”

At Barback, Chef Kaustubh’s menu takes cues from the energy of Bangkok’s Chinatown, where bold flavours, smoky cooking, and late-night dining culture come together. The experience begins with bar bites and nibbles such as Crispy Lotus Root Chips and Prawn Toast with Sesame and Hot Mustard before moving into small plates like Chilli Oil Dumplings and Chongqing Tofu. Seafood-forward dishes such as Citrus Chilli Seabass sit alongside favourites including Black Pepper Chicken and Lamb Meatball Skewers, each designed for sharing over cocktails. Larger plates and comfort dishes include Street Wok Fried Rice, Claypot Glass Noodles, Mapo Tofu, and Butter Pepper Prawns, bringing together the wok-fired intensity and vibrant flavours that define the menu.

Complementing the kitchen is an equally thoughtful beverage programme crafted by EHV International’s Head of Bars, Varun Sharma. Inspired by the flavours and ingredients of Southeast Asia, the cocktail menu layers familiar formats with ingredients such as pandan, yuzu, kaffir lime, coconut, mango, lemongrass, and tamarind to create drinks that feel vibrant, nuanced, and highly drinkable. Highlights include the Tom Yum Gimlet, combining gin with lemongrass, ginger-guava cordial, kaffir lime, and chili; and the Pandan Negroni, which brings together gin, pandan, coconut, and sweet vermouth in a tropical reimagining of the classic. The Mango Rice offers a playful nod to one of Asia’s most beloved desserts, blending rum, mango, and rice cordial, while the Perilla Spritz combines perilla oil-washed gin, orange liqueur, and yuzu cordial for a bright, refreshing serve. Richer, more indulgent creations such as the Soy & Mango, featuring aged rum, white rum, miso, and mango, sit alongside refreshing signatures like the Rose Rickey, made with vodka, rose, lime leaf, and pineapple fino.

Designed to complement both the food and the energy of the space, the cocktail programme captures the spirit of Bangkok after dark—bold, expressive, and deeply social. Kevin Rodrigues, Head of Wines, EHV International, has curated a list of aromatic, fruit-forward wines with a hint of sweetness—ideal for balancing the spice and complexity of Thai cuisine. A wide selection of wines by the glass encourages guests to explore and discover pairings that elevate every bite.

Fireback – Architectural services have been provided by Incubis Consultants (India). The interiors have been designed by London-based Russell Sage Studio (UK) under the direction of EHV’s Director of Design, Rashmi Khattar, with end-to-end project management by Director of Development, Vikas Bhasin. The design presents a seamless fusion of tradition and modernity. Fireback embodies the warmth, energy, and authenticity of Thai culture, reimagined through a sustainable and contemporary lens. The space combines a grounded material palette with clean aesthetics and subtle oriental influences, creating an atmosphere that is both sophisticated and inviting.

Barback – Conceived as a seamless extension of Fireback, the two spaces flow naturally into one another—allowing guests to begin the evening with regional Thai cuisine at Fireback before the night gradually transitions into Barback: louder, smokier, more intimate, and more nocturnal. With just a partial physical divider between the two spaces, the experience is designed to feel fluid and immersive—dinner evolving organically into cocktails, music, and late-night conversation. The design language is warm, intimate, and atmospheric. Rich burgundy tones, soft gold detailing, and layered textures create a mood that evolves through the evening. As the night deepens, lighting softens and reflects subtly off metallic finishes throughout the space, while Afro house-inspired music gradually shifts the energy of the room without overpowering conversation.

Speaking about EHV International’s entry into South India, Rohit Khattar, Founder Chairman, said, “Hyderabad has emerged as one of India’s most exciting culinary destinations, with an audience that deeply appreciates quality, innovation, and hospitality. It was a natural choice for our first venture in South India. With Fireback, we are bringing approachable, authentic Thai cuisine to the city, while Barback introduces a completely new cocktail-led experience inspired by Bangkok’s Chinatown. Together, they represent our vision of creating destinations where food, beverage, and atmosphere come together seamlessly.”

Fireback & Barback Hyderabad

Location: The Loft, HITEC City

Reservations: +91 8448724646

Instagram: @firebackrestaurant I @barbackindia

About Fireback (www.firebackrestaurant.com/hyderabad)

Fireback, located at The Loft, Hyderabad, is an authentic Thai restaurant by EHV International, with acclaimed Chef David Thompson as Culinary Director. Named after the striking Siamese Fireback, the restaurant draws from Thailand’s fiery, grill-driven traditions to serve bold, vibrant cuisine. Balancing time-honoured flavours with refined technique, Fireback celebrates the depth of Thai cooking in a vibrant, contemporary setting. Fireback opened by the riverside in Siolim, Goa, and also has a beautiful outpost at Nilaya Anthology in Mumbai.

About Barback

Barback, EHV International’s new cocktail bar at The Loft, Hyderabad, is inspired by the late-night energy of Bangkok’s Chinatown. The beverage program showcases Southeast Asian ingredients such as pandan, yuzu, kaffir lime, tamarind, hojicha, guava, coconut, and lemongrass, while the menu takes cues from Yaowarat, Bangkok’s iconic Chinatown district. Named after the “barback,” the unseen force behind the bar that keeps the drinks moving, the space is energetic, effortless, youthful, and deeply social.

About EHV International (www.ehvinternational.com)

EHV International owns and operates several path-breaking restaurants that are market leaders in their respective cuisines, including Indian Accent, Comorin, Hosa, Fireback, Drift, and Chor Bizarre. All are expanding to multiple cities in 2026 and 2027, and a couple of new concepts are under development too.

Flipkart strengthens e-commerce leadership as Myntra expands fashion market dominance: BofA

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June 20, 2026

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Flipkart Group has further strengthened its position in India’s e-commerce market, while Myntra has widened its lead in the online fashion segment, according to a recent report by Bank of America (BofA) Securities. The report highlights resilient consumer demand and sustained growth across India’s digital economy despite rising competition among internet businesses.

Drawing on Sensor Tower daily active user (DAU) data and industry checks, BofA reported that Flipkart remained the most engaged e-commerce platform in India as of June 2026. At the same time, Myntra continued to outperform competitors in the online fashion and beauty categories, reinforcing its leadership in the segment.

The brokerage noted that intense competition has not significantly impacted Flipkart’s market position. Instead, the company has continued to strengthen its presence in the country’s rapidly growing online retail ecosystem. Moreover, Myntra has benefited from relatively limited competition in premium fashion and beauty, allowing it to consolidate its market advantage further.

Several competitors have attempted to establish themselves as strong alternatives in the fashion space. However, user engagement trends indicate that Myntra continues to attract and retain consumers more effectively than rival platforms.

Meanwhile, improving macroeconomic conditions have supported positive consumer sentiment. BofA pointed out that declining global commodity prices following the US-Iran peace agreement have eased inflationary pressures, creating favorable conditions for consumption growth.

Additionally, shipment data from third-party logistics (3PL) providers, widely considered a real-time indicator of e-commerce activity, suggests that online demand remains robust. The report stated, “Till date, 3PLs have not seen any impact,” addressing concerns that weaker discretionary spending could slow e-commerce growth.

BofA also observed that valuations across India’s internet sector have corrected in recent months due to concerns surrounding slower growth and potential disruption from artificial intelligence. Nevertheless, the brokerage emphasized that underlying business performance remains resilient.

Furthermore, BofA expects internet companies to emerge as early beneficiaries of AI adoption. The brokerage believes that AI will primarily enhance customer personalization, user engagement, and operational efficiency in the near term, although it may not significantly boost revenue immediately.

With consumer spending remaining healthy and logistics volumes continuing to grow, Flipkart appears well-positioned to benefit from any acceleration in consumption as economic conditions improve.

The report also highlighted the broader strength of India’s internet economy. Online travel, quick commerce, logistics, and fintech companies continue to demonstrate resilience despite inflationary challenges over the past year.

BofA expressed increased optimism toward the online travel sector, citing easing geopolitical tensions in West Asia and lower energy prices as positive catalysts. The brokerage maintained “Buy” ratings on MakeMyTrip, Eternal, Swiggy, Delhivery, and Paytm.

Industry and retail checks revealed no significant slowdown in value-commerce spending or e-commerce parcel shipments, challenging concerns that softer discretionary consumption could weigh on growth prospects.

In the online travel segment, MakeMyTrip continued to benefit from strong demand for eastbound international travel, hotels, and ground transportation services. However, westbound travel and domestic air traffic remained relatively softer due to geopolitical disruptions and elevated airfare prices.

Quick commerce platforms also sustained healthy growth momentum. BofA expects Eternal’s quick-commerce business to deliver net order value growth of 16-17% quarter-on-quarter, supported by aggressive dark-store expansion. Meanwhile, Swiggy may witness relatively moderate growth as it focuses on achieving contribution-margin break-even.

Within the value-commerce segment, the brokerage reported stable shipment volumes for Meesho, while logistics operators continued to experience strong parcel demand across both value-commerce and broader e-commerce channels.

“Tech-logistics companies till date have not seen any impact from the slowdown in shipments led by either value commerce or e-commerce,” the report said.

Delhivery continues to benefit from increased outsourcing by Meesho in its express parcel business. Additionally, the company’s partial-truckload freight segment is expected to maintain growth exceeding 20% year-on-year in the near term.

The report also highlighted strong momentum among fintech companies such as Paytm and PB Fintech, despite investor concerns regarding a possible review of insurance distribution commissions by the Insurance Regulatory and Development Authority of India (IRDAI).

Meanwhile, hiring trends at Naukri have remained largely stable. However, competition has intensified in the emerging instant home-services category following fresh funding activity among rival startups.

Overall, BofA’s findings suggest that India’s internet sector continues to demonstrate strong resilience, with leading players across e-commerce, fashion, travel, logistics, quick commerce, and fintech maintaining healthy growth despite broader economic uncertainties.

Lloyds Realty earns Great Place To Work Certification, reinforces people-first culture

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June 20, 2026

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Lloyds Realty earns Great Place To Work Certification, reinforces people-first culture — Ravi Agarwal, Chairman and Managing Director, Lloyds Realty Developers Limite

Lloyds Realty Developers Limited has earned the prestigious Great Place To Work Certification, highlighting the company’s commitment to building a high-trust, people-centric workplace culture focused on employee experience, shared values, and long-term professional growth. The recognition comes at a significant stage in the company’s growth journey as it continues to strengthen its footprint across Mumbai’s real estate market.

The Great Place To Work Certification recognizes organizations that achieve a minimum of 70% positive employee feedback across critical workplace parameters, including credibility, respect, fairness, pride, and camaraderie. For more than three decades, Great Place To Work has served as the global authority on workplace culture, leveraging insights from over 100 million employees across 150 countries through a rigorous, research-backed methodology widely regarded as the benchmark for identifying exceptional workplaces.

Commenting on the achievement, Ravi Agarwal, Chairman and Managing Director, Lloyds Realty Developers Limited, said, “Receiving the Great Place To Work Certification is a proud milestone for Lloyds Realty and a reflection of the culture our teams have built together over time. As we continue to expand our footprint and pursue the next phase of growth, our people remain the foundation of everything we do. Accountability, Integrity, and Transparency are not simply values we uphold—they shape how we work, collaborate, and build lasting relationships with our employees, partners, and communities. I would like to thank every member of the Lloyds Realty family for their trust, dedication, and passion. We remain committed to creating an environment where individuals feel empowered to grow, contribute meaningfully, and take pride in shaping the future of our organisation.”

Balbir Singh, CEO, Great Place To Work, India, added, “At Great Place To Work, we believe a great workplace is built through trust, purpose, and a people-first approach. By earning this Certification, Lloyds Realty Developers Ltd. has demonstrated its commitment to prioritizing employee experience and cultivating a culture where people thrive. This milestone celebrates your team’s dedication to creating a workplace that inspires excellence.”

As Lloyds Realty enters its next phase of expansion, the company continues to focus on attracting and nurturing top talent, fostering innovation, and empowering teams to deliver lasting value to customers, partners, and communities. Furthermore, the Great Place To Work Certification strengthens the company’s employer brand and highlights its commitment to creating a workplace where employees can thrive. At the same time, the recognition reinforces Lloyds Realty’s people-first approach and supports its vision of building a high-performance culture. Going forward, the company aims to further enhance employee experience while driving sustainable growth and long-term success for all stakeholders.

Cygnett Hotels & Resorts completes 12 Years, targets 100 hotels by 2030

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June 20, 2026

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Cygnett Hotels & Resorts has completed 12 years of operations, marking a significant milestone in its journey from a regional hospitality company to a national hotel management platform with more than 4,000 operational and under-development keys across over 41 destinations in India.

Founded in 2014, the company built its growth strategy around the belief that India’s next wave of hospitality expansion would emerge from Tier II and Tier III cities, pilgrimage destinations, and underserved regional markets rather than traditional metropolitan centres. Over the past decade, that vision has transformed Cygnett into a portfolio of 45 operational hotels and resorts spanning business hubs, leisure destinations, religious tourism centres, and emerging travel markets.

While much of the hospitality industry initially concentrated on gateway cities, Cygnett Hotels & Resorts strategically expanded into high-potential regional markets and the North East. As a result, the company established an early presence in destinations such as Ayodhya and multiple cities across the North East, identifying long-term opportunities well before these locations became mainstream hospitality investment destinations.

Today, the company operates a diversified portfolio across multiple hospitality segments through brands including Cygnett Hotels, Cygnett Park, Cygnett Inn, Cozzet, Cygnett Resort, Cygnett Retreat, and Anamore, its luxury upper-upscale hospitality platform designed for experiential and premium travellers.

As part of its next growth phase, Cygnett Hotels & Resorts is accelerating expansion through a robust development pipeline scheduled for completion over the next 24 to 30 months. The company plans to launch new hotels and resorts across several high-growth destinations, including Pushkar, Jaipur, Kasauli-Kiarighat, Srinagar, Goa, Sonapur, Guwahati, Itanagar, Jim Corbett, Gurugram, Navi Mumbai, Hyderabad, Chail, Ujjain, Panvel, Murud, Tirupati, Vrindavan, Tawang, Motihari, Dhanbad, and Kharagpur.

A key driver of the company’s growth strategy remains its partnership with Wyndham Hotels & Resorts. Through this collaboration, Cygnett gains access to Wyndham’s extensive global distribution network, international sales channels, and Wyndham Rewards®, one of the world’s largest hotel loyalty programmes with more than 122 million members globally.

The partnership has also played an important role in shaping Cygnett’s future brand strategy. Several upcoming hotels and resorts will operate under Wyndham-affiliated brands, including Cygnett Hotels™, Cygnett Park™, Cygnett Inn™, and Cozzet™ under Trademark Collection® by Wyndham. Meanwhile, Anamore® and Anamore Select® properties will operate under Registry Collection Hotels® by Wyndham and La Quinta® by Wyndham.

Additionally, several existing Cygnett properties, including hotels in Jaipur, Itanagar, Tezpur, Dibrugarh, Bongaigaon, Bhubaneswar, and Ayodhya, have already joined the Trademark Collection® by Wyndham portfolio. This integration enables these properties to leverage Wyndham’s global reservation ecosystem while preserving their unique local identities.

Reflecting on the company’s journey, Sarbendra Sarkar, Founder & Managing Director, Cygnett Hotels & Resorts, said, “When we started Cygnett twelve years ago, we were convinced that India’s hospitality growth story would increasingly be shaped by emerging cities and untapped destinations. The Northeast, pilgrimage centres, and regional markets offered immense potential, and our strategy was built around participating in this transformation long before it became an industry trend.”

He further added, “As we enter the next phase of growth, our focus is on creating a globally connected hospitality platform rooted in regional India. Our partnership with Wyndham, expanding portfolio of brands, and strong development pipeline position us well to capitalise on the evolving travel landscape and create long-term value for our stakeholders.”

India’s hospitality industry continues to evolve, driven by strong growth in spiritual tourism, experiential travel, destination weddings, infrastructure-led development, and rising domestic travel demand. Against this backdrop, Cygnett Hotels & Resorts believes the next decade of hospitality growth will increasingly emerge from regional markets rather than traditional metropolitan centres.

To capitalise on these opportunities, the company has set an ambitious target of surpassing 100 hotels and 10,000 keys by 2030. Through strategic expansion, brand diversification, and global partnerships, Cygnett aims to strengthen its position as a leading hospitality platform across India and South Asia while creating long-term value for guests, investors, and stakeholders.

Kamat Hotels debuts 50-room IRA by Orchid property in Bhavnagar

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June 19, 2026

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Kamat Hotels debuts 50-room IRA by Orchid property in Bhavnagar — Vishal Vithal Kamat, Executive Director, KHIL

Kamat Hotels (India) Ltd. has expanded its hospitality portfolio with the launch of IRA by Orchid in Bhavnagar, Gujarat, on June 19, 2026. The new hotel operates under a leased model and strengthens the company’s presence in one of Gujarat’s emerging business and tourism destinations.

Located in ISCON Mega City, the property features 50 well-appointed rooms across Deluxe, Executive, and Suite categories. Through this addition, Kamat Hotels aims to cater to the growing demand for quality accommodation from business, leisure, and pilgrimage travelers visiting the region.

The hotel enjoys a strategic location with convenient access to Bhavnagar Airport, railway stations, and key commercial hubs. As a result, the property is well-positioned to serve corporate travellers while also attracting tourists exploring the cultural and historical attractions of the Saurashtra region.

IRA by Orchid Bhavnagar offers a range of modern amenities designed to enhance guest experiences. The hotel houses a multi-cuisine all-day dining restaurant, 24-hour in-room dining services, and a fully equipped fitness centre. Additionally, the property features five versatile banquet and meeting venues that can accommodate up to 500 guests, making it suitable for corporate events, conferences, weddings, and social gatherings.

Commenting on the launch, Dr. Vithal Venketesh Kamat, Executive Chairman & Managing Director of Kamat Hotels (India) Ltd., said the opening reflects the company’s confidence in the growth potential of emerging Indian cities. He highlighted Bhavnagar’s strong industrial ecosystem and rich cultural heritage as key factors driving demand in the market.

Sharing his views on the development, Vishal Vithal Kamat, Executive Director, said the hotel is strategically positioned to serve a diverse mix of business, leisure, and pilgrimage travellers. He further noted that the property delivers a balance of comfort, convenience, and sustainability for guests visiting the heart of Saurashtra.

Bhavnagar has steadily emerged as an important commercial and industrial centre in Gujarat, supported by sectors such as manufacturing, ship recycling, trade, and logistics. At the same time, the city attracts visitors due to its proximity to religious destinations, heritage sites, and natural attractions, creating opportunities for hospitality growth.

The opening of IRA by Orchid Bhavnagar aligns with Kamat Hotels’ broader expansion strategy of strengthening its presence across high-potential markets while catering to evolving traveller preferences. By focusing on emerging cities and regional destinations, the company continues to build a diversified hospitality portfolio across India.

With contemporary accommodations, extensive event facilities, quality dining options, and strategic connectivity, IRA by Orchid Bhavnagar expects to contribute significantly to the region’s growing hospitality landscape while supporting Kamat Hotels’ long-term growth ambitions.

Fintech unicorn Cred in funding talks with Meta at $4 Bn valuation: Sources

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June 19, 2026

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Fintech unicorn Cred in funding talks with Meta at $4 Bn valuation: Sources — Kunal Shah, Founder, Cred

Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, has reportedly held discussions in recent weeks to invest in fintech unicorn Cred at a valuation of approximately $4 billion (around Rs 38,000 crore), according to multiple sources familiar with the matter.

The proposed valuation represents a modest increase from Cred’s marked-down valuation of $3.5 billion in 2025. However, it remains significantly lower than the $6.4 billion valuation the Bengaluru-based startup achieved during its last major funding round in 2022.

Sources indicated that Meta has explored investing tens of millions of dollars as primary capital in Cred. At the same time, the technology giant has reportedly evaluated alternative strategic options, including a full acquisition of the company at a lower valuation and a potential operating role for Cred founder Kunal Shah within the organisation.

“Which path Meta ultimately chooses remains unclear. What is evident, however, is that Cred is in need of fresh capital, and Meta has expressed a willingness to back the company,” one of the people familiar with the discussions said.

Meta’s interest in Cred aligns with its broader ambition to establish a stronger position within India’s rapidly growing digital payments ecosystem. Through such a partnership, Meta could potentially integrate multiple layers of its consumer ecosystem. Facebook and Instagram could serve as discovery platforms; WhatsApp could facilitate commerce and conversational transactions, while Cred could provide payment infrastructure and financial services capabilities.

Currently, Meta and Cred already compete in India’s Unified Payments Interface (UPI) market through WhatsApp Pay and Cred Pay. Despite significant investments and expansion efforts, both platforms have struggled to gain substantial market share in a highly competitive payments landscape.

India’s UPI network remains the largest real-time payment system globally, processing more than 23 billion transactions worth over $300 billion every month. The market, however, remains heavily concentrated among a handful of dominant players.

Industry data shows that Walmart-owned PhonePe and Google Pay collectively account for nearly 80% of UPI transactions. Meanwhile, platforms such as WhatsApp Pay, Cred, and Amazon Pay continue to hold less than 1% individual market share, with their combined share remaining below 2%.

Founded in 2018 by Kunal Shah, Cred focuses on affluent, financially responsible, and creditworthy consumers. Over the years, the company has expanded beyond credit card bill payments into lending, commerce, wealth management, and financial services.

The fintech company reported consolidated operating revenue of Rs 2,735 crore in FY25, representing a 16% increase compared to the previous financial year. During the same period, Cred reduced its operating losses by 51% to Rs 298 crore, according to a company statement released in January. The company has yet to file its audited FY25 financial results with the Ministry of Corporate Affairs (MCA).

Cred also improved several key operating metrics during FY25. Total losses declined 11.5% year-on-year to Rs 1,457 crore, while gross margins reached approximately 70%, reflecting stronger operating leverage and improved monetisation across its product portfolio.

User engagement on the platform continued to rise. Monthly transacting users increased 14.5% to 1.26 crore, while transaction frequency grew 34% to 14.4 transactions per user each month. Additionally, the total payment value processed through the platform climbed 23% year-on-year to Rs 8.5 lakh crore.

The company attributed much of this growth to deeper product adoption among existing users. Around 45% of active members used three or more products across the platform. Cred reported an average revenue per user (ARPU) of Rs 2,000, which it claims is the highest within India’s payments ecosystem. Users engaging with four or more products generated 75% higher ARPU compared with the platform average.

Since its launch, Cred has raised nearly $1 billion from prominent global investors, including Tiger Global, Ribbit Capital, Peak XV Partners, Greenoaks Capital, and DST Global, among others.

For Meta, an investment in Cred would represent another strategic bet on India’s technology ecosystem. The company has previously backed high-growth startups such as Meesho and Unacademy as part of its broader effort to expand its presence in one of the world’s largest digital consumer markets.

If the proposed transaction materialises, it could emerge as one of the most significant fintech investments in India this year, while potentially reshaping competition within the country’s digital payments and financial services landscape.

IHCL to launch 283-key Gateway Hotel in Yeshwantpur, Bengaluru

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June 19, 2026

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IHCL to launch 283-key Gateway Hotel in Yeshwantpur, Bengaluru — Suma Venkatesh, Executive Vice President – Real Estate & Development, IHCL

Indian Hotels Company Limited (IHCL), India’s largest hospitality company, has announced the signing of a new Gateway hotel in Yeshwantpur, Bengaluru, further strengthening its presence in one of the country’s fastest-growing hospitality markets. IHCL will develop the project as a brownfield property and strengthen its footprint in North Bengaluru.

Commenting on the signing, Suma Venkatesh, Executive Vice President – Real Estate & Development, IHCL, said, “Bengaluru is among India’s leading lodging markets with Yeshwantpur as a key commercial micro-market. The addition of the reimagined Gateway brand in Yeshwantpur reinforces IHCL’s presence in North Bengaluru. The construction of this joint development project is expected to be completed in 24 months. Strengthening our partnership with Mr. Satish Shetty of Naveen Hotels, this signing represents our third hotel through this association.”

The upcoming Gateway Yeshwantpur, Bengaluru, will feature 283 keys and cater to both business and leisure travellers. The hotel will include an all-day dining restaurant, a specialty restaurant, a bar and lounge, and a pool bar, offering guests a comprehensive hospitality experience.

In addition, the property will provide approximately 13,000 square feet of event and meeting space. The hotel will house two large pillarless banquet halls along with multiple meeting rooms, making it suitable for corporate events, conferences, weddings, and social gatherings. Guests will also have access to a state-of-the-art fitness centre and a swimming pool.

Expressing his views on the partnership, Satish Shetty, Chairman, Naveen Hotels, said, “We are happy to grow our partnership with IHCL for this Gateway project. This hotel will contribute to the area’s growing hospitality landscape.”

Yeshwantpur has emerged as a prominent commercial and business district in Bengaluru, supported by excellent connectivity, infrastructure development, and growing corporate activity. The area continues to attract investments across commercial real estate, hospitality, and retail sectors, creating strong demand for quality accommodation options.

Known as the Silicon Valley of India, Bengaluru remains one of the country’s most dynamic urban centres, driven by its thriving information technology industry, startup ecosystem, and entrepreneurial culture. The city continues to witness robust demand for hospitality infrastructure from business travellers, corporate events, and domestic tourism.

With this latest signing, IHCL will expand its Bengaluru portfolio to 21 hotels, including 12 properties currently under development. The move aligns with the company’s broader growth strategy of expanding its presence across key metropolitan markets and high-growth urban destinations.

The owning company, the R.N. Shetty Group, is a diversified Indian conglomerate founded in 1961 by Dr. Rama Nagappa Shetty. Headquartered in Bengaluru, the group operates across multiple sectors, including construction, hospitality, automotive dealerships, manufacturing, power generation, and education. Over the decades, the group has built a strong reputation for business excellence while also contributing significantly to philanthropy and cultural initiatives.

The signing of Gateway Yeshwantpur reflects the continued growth of Bengaluru’s hospitality sector and underscores IHCL’s commitment to expanding its portfolio through strategic partnerships and premium hospitality offerings in key commercial markets across India.

Goldfinch Hospitality expands Goa presence with launch of 98-room hotel in Panjim

By

BRL Editor

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June 19, 2026

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Goldfinch Hospitality has strengthened its presence in Goa with the launch of Goldfinch Panjim Goa, a 98-room hotel strategically located in Panjim overlooking the scenic Mandovi River. The new property marks another milestone in the company’s expansion strategy and reinforces its commitment to growing across high-potential tourism and business destinations in India.

Situated in the heart of Goa’s capital city, the hotel aims to cater to both business and leisure travellers seeking contemporary accommodations and convenient access to the region’s key commercial, cultural, and tourist attractions.

Goldfinch Panjim Goa features 98 well-appointed guestrooms, including seven suites, designed to offer a comfortable and modern hospitality experience. The property combines contemporary design, premium amenities, and a central location, positioning it as an attractive choice for domestic and international visitors.

The hotel also houses Banjara, an all-day dining restaurant that serves a diverse multi-cuisine menu featuring a blend of international favourites and regional delicacies. Through its dining offerings, the property seeks to deliver an elevated culinary experience while showcasing local flavours alongside global cuisine.

Commenting on the launch, Dr. K. Prakash Shetty, Founder & Chairman, MRG Group, said, “At MRG Group, we have always believed in building destinations and developments that stand the test of time while contributing meaningfully to the communities they serve. The launch of Goldfinch Panjim Goa reflects our continued commitment to expanding our hospitality footprint in high-potential markets. As we look ahead, our focus remains on sustainable growth, operational excellence, and delivering exceptional experiences that create lasting value for our guests, partners, and stakeholders.”

Highlighting the strategic significance of the new property, Gaurav Shetty, Managing Director, MRG Group, added, “The launch of Goldfinch Panjim Goa represents another important milestone in MRG Group’s hospitality growth journey. Goa has long remained one of India’s most iconic travel destinations, offering a unique blend of culture, leisure, and natural beauty. We are delighted to strengthen our presence in this dynamic market and bring the Goldfinch experience to the heart of Panjim. This opening reflects our continued commitment to creating meaningful hospitality experiences while expanding our footprint across key leisure and business destinations in India.”

The opening further strengthens Goldfinch Hospitality’s position within India’s growing hospitality sector. Moreover, it highlights the company’s focus on expanding its portfolio in destinations that benefit from strong tourism demand, business activity, and long-term growth potential.

As part of its broader growth strategy, Goldfinch Hospitality continues to invest in hospitality assets across key markets while prioritising guest satisfaction, service excellence, thoughtful design, and local engagement. Through these initiatives, the company aims to create differentiated hospitality experiences and generate sustainable value for guests, partners, and stakeholders alike.

With Goa continuing to attract strong domestic and international visitor traffic, Goldfinch Panjim Goa is well-positioned to capitalise on the state’s thriving tourism industry while contributing to the region’s evolving hospitality landscape.

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