PARKHOTELS

By Praveen Paramasivam and Nathan Gomes

CHENNAI/BENGALURU, March 5 (Reuters) - International music concerts and marquee sporting events are fast becoming a key growth driver for India's hotel industry, as younger consumers increasingly prioritise live experiences over big-ticket shopping, hotel executives said.

From pop star Dua Lipa to rapper Ye, global artists are adding India to their tour calendars, filling hotel rooms just as corporate travel demand from IT services providers shows signs of cooling amid tighter spending, according to at least three executives.

"We are now in the economy of experiences," Alan Watts, president of Hilton's HLT.N Asia Pacific business, told Reuters.

The effect has been hard to miss in host cities.

British rock band Coldplay's Ahmedabad show last year drew tens of thousands of fans, making the concert day the city's busiest for metro traffic and air arrivals and generating about $70 million in economic gains, industry data showed.

"Coldplay has changed the game by coming to India," said Vijay Dewan, managing director of Apeejay Surrendra Park Hotels APEJ.NS. "Concerts are going to be very helpful in terms of improving occupancies."

The momentum is underpinned by a rapidly expanding live events industry. India's $5.69 billion event and exhibition market is forecast to grow to $9.04 billion by 2031, according to Mordor Intelligence.

Hotels are adjusting accordingly. Lemon Tree Hotels LEMO.NS, one of India's largest mid-priced chains, is weighing proximity to concert halls and stadiums more heavily when scouting new locations.

"It will increasingly become important for everybody in the hotel industry," said Lemon Tree Hotels CEO Neelendra Singh.

Beyond music, cricket and other big-ticket sporting events are fuelling sharp, multi-day spikes in demand.

Every time there is a cricket match — in Ahmedabad, for instance — the spike is "phenomenal," said Nikhil Sharma, managing director and operating chief for South Asia at Radisson Hotel Group.

But some executives were more skeptical.

"You need sustained event programming through the year for it to have meaningful impact (to the bottom line)," said Arjun Baljee, president of Royal Orchid Hotels ROYL.NS.

(Reporting by Praveen Paramasivam in Chennai and Nathan Gomes in Bengaluru; Editing by Dhanya Skariachan and Sonia Cheema)

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Feb 26 (Reuters) - Apeejay Surrendra Park Hotels Ltd APEJ.NS:

• ENTERS HOTEL MANAGEMENT AND LICENSING AGREEMENT WITH LUXMI TEA CO

• AGREEMENT FOR 100-ROOM PREMIUM HOTEL PROJECT IN SILIGURI

Source text: ID:nNSEbw3t4X

Further company coverage: APEJ.NS

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** Jefferies expects "healthy" Q1FY26 growth for Indian hotel firms, undeterred by some travel softness in May due to military conflicts between New Delhi and Islamabad

** Q1 "started on a strong note in April, extending Q4 performance and June is expected to see normalcy" - note

** Adds, hotel firms to continue to benefit from industry uptrends, including demand outstripping supply

** Taj-parent Indian Hotels Co Ltd IHTL.NS, ITC Hotels ITCT.NS and Chalet CHAL.NS are brokerage's top sectoral picks

** On the day, IHTL flat, ITCT edges up 0.2%. CHAL down 1%

** All three cos outperformed or were in-line with industry in terms of Y/Y Q4 revenue growth per available room, a key operating metric

(Reporting by Hritam Mukherjee in Bengaluru)

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Jan 20 (Reuters) - Apeejay Surrendra Park Hotels Ltd APEJ.NS:

• INAUGURATES LUXURY PALACE HOTEL RAN BAAS IN PUNJAB

Source text: ID:nBSE7fyN9z

Further company coverage: APEJ.NS

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Jan 9 (Reuters) - Apeejay Surrendra Park Hotels Ltd APEJ.NS:

• SOFT OPENING OF 'ZONE CONNECT BY PARK' IN PRAYAGRAJ

Source text: ID:nBSEllVQS

Further company coverage: APEJ.NS

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March 4 (Reuters) - Apeejay Surrendra Park Hotels Ltd APEJ.NS:

• DEC-QUARTER CONSOL PROFIT 274.2 MILLION RUPEES VERSUS 187.7 MILLION RUPEES

• DEC-QUARTER CONSOL TOTAL INCOME 1.64 BILLION RUPEES VERSUS 1.43 BILLION RUPEES

Source text for Eikon: ID:nNSE8v3CbF

Further company coverage: APEJ.NS

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