ITC has said it has not made any offer to acquire the assets of Hotel Leela venture, putting to rest speculation that it is keen to acquire the assets at a lower cost being a competitor, and which is why it has thrown a...
Singapore’s CDL makes fresh bid to buy rest of Millennium & Copthorne Hotels
Millennium & Copthorne Hotels Plc has agreed to be acquired by majority owner City Developments Ltd (CDL) in a deal that values the British company at 2.23 billion pounds ($2.84 billion), the companies said on...
Italy’s Autogrill looking for acquisitions as war chest grows
Italy’s Autogrill, which runs restaurants and bars at airports, motorways and railways around the world, is looking at possible acquisitions in related sectors in the next few years, when it will have 1.5 billion euros...
NCLT accepts Hotel Leelaventure’s request to hear petition after 6 weeks
The bankruptcy court has given Hotel Leelaventure six weeks before it would take up an insolvency petition against the hotel chain, and asked the markets regulator to complete its examination of the company’s asset-sale...
Pret A Manger swallows EAT as it looks to boost Veggie brand
Pret A Manger has bought smaller rival EAT, the British sandwich and coffee shop chain said on Wednesday, as it looks to capitalize on the thriving vegan and vegetarian market through its Veggie Pret brand. Pret A...
Wynn Resorts ceases talks with MGM to sell $2.6 billion Massachusetts casino
Wynn Resorts Ltd said on Tuesday the company has decided to stop talks with MGM Resorts International to sell its Encore Boston Harbor casino. “After careful consideration, we have agreed to cease discussions with MGM...
Goldman Sachs in talks to buy B&B Hotels from PAI Partners
Goldman Sachs is in talks to buy B&B Hotels from private equity firm PAI Partners, the companies said on Monday, in a deal which an earlier report from the Financial Times said could be worth 1.9 billion euros ($2.1...
Wynn Resorts in talks to sell $2.6 billion Massachusetts casino to MGM
Wynn Resorts Ltd is in talks to sell its nearly finished $2.6 billion casino outside of Boston to rival MGM Resorts International, the two companies said on Friday. Las Vegas-based Wynn received its Massachusetts...
IHCL and GIC create Rs 4000 crore platform to acquire hotel assets
Indian Hotels Co. (IHCL) and Singapore’s sovereign wealth fund GIC NSE 2.87 % will set up a three-year, Rs 4,000-crore investment platform to acquire hotels in the luxury, upper-upscale and upscale segments, the company...
Accor in talks to invest up to $50 million in Treebo Hotels
Accor SA, which runs the second-largest chain of hotels globally, is in talks to invest up to $50 million in budget hotels brand Treebo Hotels, said two people aware of the development. Treebo was founded in March 2015...
McDonald’s buys Vikram Bakshi’s 50% stake in Connaught Plaza Restaurants
McDonald’s India Pvt Ltd (MIPL) announced on Thursday that it has acquired full ownership of Connaught Plaza Restaurants Limited (CPRL) and that the latter is now wholly owned by MIPL and its affiliate McDonald’s Global...
Whataburger explores options including a stake sale – sources
Privately held U.S. fast-food chain Whataburger is exploring options that could include selling a minority stake to a financial investor or private equity firm, people familiar with the matter said on Monday. With the...
