Reliance To Invest Rs 1,500Cr In Network18 Group – Reliance Industries is embarking on a major diversification into the media and entertainment sector with the Mukesh Ambani firm agreeing to fund a transaction that will result in a sizeable stake for itself in a company controlling two of the industry’s largest businesses, the Network18 Group [...]
Archive for the ‘Hotel Industry in India’ Category
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DLF to Sell Hotel subsidiary to Kolkata Based Square Four Housing
Posted by propertyagentsindia on December 12th, 2011
DLF Ltd, the country’s largest real estate company, is set to sell its hotel subsidiary to Kolkata-based Square Four Housing & Infrastructure Private Ltd for Rs550 crore, its third divestment in the last three month as it disposes non-core assets to pare its Rs22,500 crore debt. As reported by ET last week, the Delhi-based real [...]
DLF Acquires Additional 26% Stake in Hilton Hotels
Posted by propertyagentsindia on December 6th, 2011
Real estate major DLF Ltd has taken full control of its joint venture with Hilton Hotels before selling the hospitality property as part of its strategy to divest non-core assets. This will help DLF cut its debt of Rs 22,519 crore (Rs 225.19 billion). DLF acquired the additional 26 per cent stake in its joint [...]
Parsvnath Partners with Choice: Plans Entry into Budget Hotel Segment
Posted by propertyagentsindia on November 8th, 2011
Realty firm Parsvnath Developers on Monday said it will foray into the budget hotel segment and has tied up with Choice Hotels International to offer 20-25 properties across the country.
The company’s wholly-owned subsidiary, Parsvnath Hotels, has joined hands with various existing small hotel owners and will refurbish their properties to offer them to Choice Hotels [...]
Bangalore Emerges as the most Preferred Destination for Expansion by Hotel Companies
Posted by propertyagentsindia on November 7th, 2011
In the past few years, Bangalore has emerged as the most preferred city by hotel companies for expansion. Hospitality majors such as Indian Hotels Company (IHC), East India Hotels (EIH) and Hotel Leela Venture have all announced plans to expand in Bangalore. While IHC recently launched its third Vivanta By Taj property in the city, [...]
IHC Group’s Gateway Plans 50 Hotels by 2015
Posted by propertyagentsindia on September 30th, 2011
The Indian Hotels Company (IHC), a Tata group listed hospitality firm, on Wednesday said it expects its Gateway vertical to be a 50-hotel brand by 2015. The company plans to come up with Gateway Hotels first in all the metro cities like Mumbai, Kolkata, Delhi, Bangalore and Chennai, the first one of which will open [...]
ITC Buys 26% Stake in Logix Group’s 5star Hotel in Noida
Posted by propertyagentsindia on September 29th, 2011
Cigarette-to-hotels major ITC has bought 26 per cent stake in a 275-room, five-star luxury hotel property being developed by Noida-based Logix Group in Noida’s Sector 105. The company will be investing close to Rs 100 crore in the project and will also manage it under the top-end ITC Hotels brand, reports Economic Times.
The total project [...]
Hotel Chain ‘Royal Orchid’ to add New Brand in Mid-Market Segment
Posted by propertyagentsindia on September 23rd, 2011
Hotel chain operator Royal Orchid Hotels Ltd plans to add a new brand in the Indian mid-market space in the next couple of months to expand its portfolio, a top official said on Wednesday.
“As things emerge, we will be adding categories of hotels so we are planning to add a couple of new brands. [...]
Hit by Fund and Permit Hassles, Hotel Majors Stall Projects
Posted by propertyagentsindia on September 5th, 2011
Many leading hospitality companies looking at expansion are either deferring launches or stalling projects on the back of various challenges including fund crunch and roadblocks in getting permits. According to a study by consulting firm HVS, the hospitality companies had announced to add 90,000 rooms by April 2015. Realistically, industry experts say, only two-thirds of [...]
Carlson Hotels to open 100th Park Plaza in India
Posted by propertyagentsindia on August 29th, 2011
Carlson, a leading global hospitality and travel company, will open its 100th ‘Park Plaza’ brand hotel in India by 2015, with its capacity touching almost 10,000 rooms by then. Meanwhile, the company launched its 40th Park Plaza, having 107 rooms, in Coimbatore on Sunday.
“With the launch of the 40th Park Plaza, the total number [...]
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