Indian Hotels Co Ltd on Wednesday reported a 19.5% rise in first-quarter profit, helped by sustained demand for travel and hospitality. The Tata Group-owned operator of Taj Hotels posted a consolidated net profit of ₹296 crore for the quarter ended June 30, up from ₹248 crore a year earlier.
Revenue from operations rose 31.7% to ₹2,041 crore, while EBITDA climbed 28.1% to ₹576 crore. However, EBITDA margin narrowed slightly to 28.2% from 29% last year.
IHCL signed 12 new hotels during the quarter, taking its portfolio to over 390 properties. Openings included a Taj in Alibaug, two SeleQtions resorts in Lakshadweep, and a Ginger hotel in Dehradun. Internationally, it added three luxury wildlife lodges in South Africa’s Kruger National Park under the Taj brand.
“Despite geopolitical headwinds, the hospitality sector continues to show resilience and sustained growth,” Managing Director & CEO Puneet Chhatwal said.
Domestic same-store hotels reported an 11% RevPAR growth, with a 60% premium over the industry average. International operations saw a 460-basis-point improvement in occupancy to 78%, boosting RevPAR by 13%.
TajSATS, the company’s air and institutional catering arm, reported a 21% revenue growth to ₹290 crore with an EBITDA margin of 23.5%.
New businesses — including Ginger, Qmin, amã Stays & Trails and Tree of Life — posted a 27% rise in consolidated revenue to ₹162 crore.
IHCL’s standalone revenue rose 13% to ₹1,099 crore, with an EBITDA margin of 38%. The company maintained a healthy balance sheet, with a gross cash balance of ₹3,073 crore.
Brand Taj was ranked the World’s Strongest Hotel Brand for the fourth year and India’s Strongest Brand across sectors for the fifth year by Brand Finance UK.
Shares of Indian Hotels closed 0.4% higher ahead of the results, at a price of ₹754.05 on the BSE.
In late June 2025, Virgin Hotels Chicago, the brand’s first location, was sold for approximately $77.4 million to an affiliate of Accelerated Assets, a Michigan‑based firm recognized for converting properties into timeshare resorts. Located at 203 N. Wabash Avenue, the Old Dearborn Bank Building, this 250‑room landmark tower originally opened in January 2015 after a $117 million renovation that preserved much of its historic 1928 features.
Accelerated Assets acquired the property from a joint venture of Virgin Hotels and Lionstone Development, who had bought the building in 2011 for about $14.8 million and financed a $50 million construction loan. The sale price averaged $309,600 per room, a sharp contrast to the $468,000 per room renovation cost.
The deal officially closed on June 30, 2025, and Virgin Hotels North America LLC will continue to manage the property under the Virgin brand, though the duration of the agreement remains undisclosed. Given Accelerated Assets’ history, including converting Chicago’s Hotel Blake into a timeshare resort, there’s speculation the property may shift toward a timeshare model in the future.
Downtown hotel revenues in Chicago remain below pre‑pandemic levels, though investors continue placing sizable bets on the city’s recovery. The building’s landmarked status, along with Class L property tax incentives, taxed at only 10 percent of assessed value, gradually phasing up through 2027, likely bolstered its appeal.
Constructed between 1926 and 1928 in ornate Neoclassical, Art Deco style by Rapp & Rapp, the structure was landmarked by the city in 2003. During its conversion into Virgin Hotels Chicago, original features such as the oak 1920s cigar bar, brass elevator doors and terra‑cotta detailing were preserved, while modern elements like a mobile app‑based guest services platform (“Lucy”) were introduced to enhance the guest experience.
With new ownership and potential repositioning ahead, the future of Virgin Hotels Chicago will hinge on how Accelerated Assets balances architectural heritage with evolving hospitality investment models and guest expectations.
Home»Hotels And Resorts In America» Driskill Hotel’s Iconic Transformation Now Begins with Major Renovations, Set for One Hundred and Fortieth Anniversary Celebration
Sunday, July 27, 2025
One of Austin’s oldest hotels, the The Driskill Hotel, will be completely renovated and transformed into a luxury contemporary retreat. The 1886 Driskill Hotel, part of The Unbound Collection by Hyatt, to Undergo Full Restoration From Pixiu Investments, Woodbine Development Corp and Hyatt Hotels Corporation The 1886 Driskill to be restored and revitalized AUSTIN (November 13, 2019) – Pixiu Investments and Woodbine Development Corporation have announced plans for a complete restoration and renovation of the 1886 Driskill Hotel, The Unbound Collection by Hyatt. The massive endeavor is anticipated to maintain the hotel’s historical significance and introduce new aspects that wll offer more for visiting guests.
The Driskill, Texas’ very first luxury hotel, has been a symbol of southern hospitality and Texas grandeur ever since it opened its doors in 1886. A stopping-off point for the powerful, the political, and the newsworthy, the Driskill has been a gathering place for those making history for more than a century. The phased renovation will reimagine the hotel’s 175 guestrooms, lobby, social spaces and food and beverage outlets, in an effort to marry modern luxury with the hotel’s storied history.
First Phase of Renovation Set for Fall 2025
The initial renovation phase, due to open in Fall 2025, will revamp the Driskill Bar and Driskill Grill, as well as introduce a new cocktail bar, The Victorian. Also unveiled will be the newly converted and renovated 110 Tower Guestrooms, which date back to 1929, a renovated fitness center and 2,800-square-foot ballroom located on the Mezzanine Level.
As part of the renovation, MML Hospitality, an Austin-based hospitality group, is set to manage all food and beverage operations beginning August 2025. With their reputation for producing imaginative culinary environments, the minds at MML will bring fresh concepts to the Driskill, including Chef April Bloomfield’s first ever Southern undertaking that will debut in our reinvented Driskill Bar and Grill. The restaurant will be redesigned to provide a new-look menu focusing on organic ingredients provided by local suppliers.
The hotel will also feature The Victorian, a cocktail bar and lounge that will sit on the corner of 6th Street and Brazos and become a corner stone social spot for both locals and visitors. A slight modern enhancement, meanwhile, will also be added to the 1886 Cafe & Bakery, preserving the diner’s character that guests have come to know and love but keeping it fresh for years to come.
Second Phase to Culminate with Driskill’s 140th Anniversary
The second phase of renovation will conclude by summer 2026, the hotel’s 140th anniversary landing in December 2026. This final stage will be centred around renovating the grand staircase, hotel lobby, and 74 of the historic guestrooms in the original guestroom tower. In line with the hotel’s storied history, a handpicked retail offering, known as Stark & Sisters, will also make its debut, a nod to the hotel’s pioneering family.
The pairing with SWOON Studio, headed by co-founders Samantha Sano and Joslyn Taylor will be pivotal in the design evolution of the hotel. Elements of the Driskill’s historic architecture are woven into their vision, which is one of modern sophistication, mixed with classic Texas charm. The hotel’s larger cultural center will be its first-floor lobby that will be conceived to accommodate not just the historical exhibitions but modern day events.
Driskill’s Legacy and Significance in Austin’s History
Considered a part of Austin’s history since its inception in 1886, the Driskill Hotel was founded by a cattleman named Jesse Driskill. Constructed by Colonel Jesse Driskill, the hotel was renowned for its grandeur and posh accommodations, establishing itself as the trendsetter in hotel hospitality for Texas. Through the years the Driskill has hosted such events as political conventions, election night parties, and celebratory galas.
Cattle barons, oil tycoons and world dignitaries have crossed its threshold.The hotel’s rich history has ensured that it remains an essential piece in the Texas hospitality puzzle through the centuries. With the restoration in progress, the Driskill will continue to be a favored destination, beloved by locals and tourists around the world alike.
The Unbound Collection by Hyatt: A New Chapter for Historic Hotels
The renovation of the Driskill Hotel, one of many upscale properties included in Hyatt Hotels Corporation’s Unbound Collection, is indicative of a broader trend for the company. This portfolio is committed to restoring and revitalizing the vintage hotel properties it represents and to providing guests with access to amenities of the kind that today’s travelers demand. Combining history with luxurious and Now More Than Ever Moment to Stay in Iconic, Story-Making Properties and best-in-class hospitality, the Unbound Collection provides guests with the experience of staying in an eye-catching property while enjoying an independent stay.
Refurbishing the Driskill is part of Hyatt’s larger mission to deliver innovative, experiential stays to guests. The aim is to design a property that is a modern-day tribute to Austin’s rich past, and to serve the needs of today’s luxury traveler. With the emphasis on community input and a guest experience curated by day one patrons, the Driskill hopes to continue to serve as a beloved part of the city for generations to come.
What’s Next for The Driskill
The Driskill will stand at the time when Austin’s industry is ever-changing and the hotel will lead with its vision for the city’s future tourism. The 2025-2026 updates should herald an exciting new era for the iconic hotel, and the impending 140th milestone will be a great way to mark the Driskill’s impressive role in Texas. Fresh focus on a modern, yet historic commitment to preserve the Driskill allows us to remain as one of the most cherished and iconic hotels in Austin.
Hundreds of protesters have gathered outside a hotel housing asylum seekers in Essex.
About 300 anti-migrant protesters are at the The Bell Hotel, Epping, according to BBC journalist James Bryant.
Some are waving St George’s flags while others have banners and signs with slogans including: “Protect our kids”.
Protests, including some violent clashes, began at the hotel on 13 July after a man living there was arrested and subsequently charged with sexual assault, harassment and inciting a girl to engage in sexual activity.
Hadush Kebatu, 41, from Ethiopia, has denied the offences and is in custody.
Police say 2,000 pro-immigration counter-protesters have been making their way to the hotel from the town’s station to a pen close to the anti-migrant protest.
Some are chanting “Say it loud, say it clear – refugees are welcome here”, and holding posters, banners and placards with slogans including “Unity is strength” and “Stand up to racism”.
They have been surrounded by police officers.
Meanwhile, some of the anti-migrant protesters have been singing along to patriotic music, including Rule, Britannia!.
Several police cars, including riot vans, have started to arrive in the area.
As well as Essex Police, officers from the Metropolitan, Durham, Kent, Surrey, Sussex, West Midlands, Leicestershire, Northamptonshire, Cheshire, Dyfed-Powys and Hampshire forces are at the scene.
The county force has put a dispersal order in place from 12:00 BST on Sunday to 08:00 on Monday, covering the town centre, transport hubs and networks.
This gives police the power to direct anyone suspected of committing anti-social behaviour, or planning to do so, to leave the area or face arrest.
Ten people have been charged with offences in relation to this month’s disorder in the town, with defendants due to appear at Chelmsford Crown Court on 18 August.
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