Thursday, July 6, 2023

India’s ITC May Sell Its Hotel Unit

  • The Philippines Department of Tourism surpasses its tourist arrival target for 2022 and sets a higher goal of 4.8 million tourists for 2023.
  • Banyan Tree Group expands its portfolio with new hotel openings in Vietnam and Japan, along with plans for future properties in various countries.
  • ITC considers demerging its hotels business and exploring alternative business structures after a strong recovery in the industry, with plans for separate listing of the hotel section.

The Philippines Department of Tourism said they have already beaten last year’s full tourist arrivals target. As of June 26, the DOT said visitation was 2.64 million which is above the 1.7 million tourist goal set for 2022. The DOT is targeting 4.8 million tourists for the year 2023 as part of its National Development Plan. […]