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Delhi’s Khan Market has reaffirmed its position as India’s most expensive retail high-street, ranking 22nd globally with a 7% year-on-year rental growth, according to a Cushman & Wakefield report. The Delhi-NCR region now boasts the top three high streets in India, including Connaught Place and Galleria Market in Gurgaon, while Anna Nagar in Chennai is noted as the most affordable in the APAC region.
Indian Hotels has positioned itself as a leader in the hospitality sector, aiming for significant growth by 2030 with plans to expand to 700 hotels and double revenues to INR150 billion. The company focuses on enhancing traditional businesses while innovating through ventures like Ginger and Qmin, targeting a 20%+ return on capital employed. Motilal Oswal maintains a BUY rating with a target price of INR 880, reflecting confidence in IH's operational performance and sustainability initiatives.
Wealth hubs are actively courting the UK’s super-rich, particularly in light of potential tax changes by the Labour government targeting non-domiciled residents. A recent exclusive event in Abu Dhabi highlighted the competition among cities offering lower taxes and incentives to attract wealthy individuals away from Britain.
The UK’s ultra-wealthy are contemplating leaving the country following Chancellor Rachel Reeves' budget announcement, which ended the non-dom tax regime and expanded inheritance taxes to include worldwide assets. The budget also increased taxes on private equity executives and second homes, prompting concerns among the affluent.
Indian Hotels' stock reached an all-time high, buoyed by Jefferies' 'buy' rating and a price target of Rs 900, suggesting a nearly 20% upside from its last close of Rs 754. The shares have surged 75% year-to-date, with management targeting the opening of one new hotel weekly until FY30 to sustain growth.
KingSett Capital Inc. has suspended payments to investors in its KingSett Canadian Real Estate Income Fund, which has a gross asset value of C$4.9 billion ($3.5 billion). The Toronto-based firm will not distribute income for the next year and has halted unit redemptions as it navigates the challenges of a prolonged downturn in the real estate sector.
Indian equity markets ended a seven-day losing streak on November 19, with the Nifty closing at 23,518.50, up 64.70 points or 0.28%. Key gainers included M&M, Trent, and HDFC Bank, while SBI Life Insurance and Reliance Industries were among the top losers. The market was closed on November 20 for Maharashtra Assembly polls, with sectors like media, auto, and realty showing gains, while metal and oil & gas sectors declined.
The financial support from parents, dubbed the "Bank of Mom and Dad," has surged in the UK, with gifts to help children buy homes reaching £29 billion between 2018 and 2020. This figure more than doubles the amount from a decade ago, driven by an increase in both the number and size of these contributions aimed at assisting first-time buyers with their deposits.
Marriott International's CEO Anthony Capuano reported solid business performance despite recent layoffs of over 800 corporate employees, attributing growth to a strong return of group travel and record hotel signings in China. The company anticipates continued recovery in domestic tourism and inbound travel, with a focus on decentralized decision-making to enhance efficiency. Marriott's loyalty program has expanded to 219 million members, and the company plans to open more hotels in Japan, including a new Four Points Flex by Sheraton.
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