British American Tobacco Plc (BAT), the single-largest shareholder in ITC, plans to sell its stake in the soon-to-be demerged hotel business of the Indian conglomerate, said chief executive Tadeu Marroco. He said BAT is...
CITIC to sell stake in McDonald’s China, HK operations for $430.3 mln
China’s state-owned CITIC Ltd has agreed to sell its 19.23% stake in the company that operates fast-food chain McDonald’s across China and Hong Kong for $430.3 million, fully exiting the business. It will...
Tellado Realty divests its hospitality business to StayVista
Tellado Realty, one of the luxury developers in Goa with projects like Tellado Villas (Siolim) and Baia Villas (Mandrem) has divested its hospitality business to villa rental brand StayVista. StayVista said it will be...
SAMHI Hotels acquires Innmar Tourism and Hotels private Ltd
Branded hotel ownership and asset management platform SAMHI announced the completion of execution of the Share Purchase Agreement (“SPA”) for the acquisition of Innmar Tourism and Hotels Private Limited (“ITHPL”). The...
OYO parent Oravel Stays to acquire Motel 6, Studio 6 from Blackstone paying $525 million in an all-cash deal
Oyo’s parent, Oravel Stays, has agreed to acquire American budget hotel chain G6 Hospitality, owner of the “iconic” Motel 6 and Studio 6 brands, from Blackstone Real Estate in a $525 million all-cash deal, PTI...
NCLAT stays order to re-run Rajesh Business’ bankruptcy process
The National Company Law Appellate Tribunal (NCLAT) has stayed a lower court’s order asking creditors of Rajesh Business & Leisure Hotels to restart a bankruptcy process after an appeal by lead lender ICICI...
BCM Group acquires five star property The Golden Palms Resorts and Spa
BCM Group has acquired Bengaluru’s five-star hotel, The Golden Palms Resorts and Spa, the diversified group’s managing director Rajesh Mehta told ET without disclosing the financial details of the deal. The resort...
BCM Group acquires five star property The Golden Palms Resorts and Spa
BCM Group has acquired Bengaluru’s five-star hotel, The Golden Palms Resorts and Spa, the diversified group’s managing director Rajesh Mehta told ET without disclosing the financial details of the deal. The resort...
Brewing giant Asahi set to sell restaurant business, Nikkei reports
Asahi Group plans to sell its struggling restaurant business, Nadaman, to a Japanese peer as the country’s biggest brewer looks to exit the segment to focus on alcoholic and other beverages, Nikkei reported on...
Olive Garden parent Darden to buy Chuy’s in $605 mln deal
Darden Restaurants, owner of the Olive Garden chain, has agreed to buy full-service restaurant operator Chuy’s Holdings in an all-cash deal which has an enterprise value of $605 million, the companies said on...
NCLT dismisses resolution for Rajesh Lifespaces’ hotels business, orders rerun
The National Company Law Tribunal (NCLT) has dismissed the resolution plan submitted for realty developer Rajesh Lifespaces’ hotel business, Rajesh Business & Leisure Hotels, citing non-conformity with...
ITC shareholders approve demerger of hotel biz with 99.6% majority votes
ITC shareholders in their meeting held on Thursday, June 6, approved the demerger of the FMCG giant’s hotel business segment, which has paved the way for the listing of ITC Hotels. With an overwhelming majority...
