InterContinental Hotels Group has agreed to buy the brands and operating companies of Six Senses Hotels Resorts Spas for $300 million in cash, the owner of the Crowne-Plaza and Holiday Inn chains said on Wednesday, in a...
Brookfield Asset Management set to buy Hotel Leelaventure
Canadian private equity major Brookfield Asset Management has finalised the terms and conditions to acquire Hotel Leelaventure with lender JM FinancialNSE 0.40 % for around Rs 4,500 crore, and the deal is likely to be...
Govt mulls shutting AI arm hotel corp
As part of its plan to restructure Air India, the government is discussing a plan to wind up Hotel Corporation of India (HCI), a loss-making subsidiary of the national carrier that has hotels in New Delhi and Srinagar...
Troubled pizza chain Papa John’s gets $200 million from Starboard
Starboard Value will make its CEO the chairman of Papa John’s International via a $200 million investment in the troubled pizza chain. The activist fund’s CEO, Jeffrey Smith (pictured), will take over the board role...
Fresh twist to Leela sale saga
The game is afoot at Leela Hotels. As reported earlier by IANS, Dubai billionaire Rashid Al Habtoor had made a bid of Rs 4,200 crore for the stressed asset. With four top-of-the-line properties — Delhi’s...
Cafe Coffee Day founder’s stake sale in Mindtree hits I-T hurdle
The promoters of software firm Mindtree Ltd are in a race to retain control of the company as potential buyers eye the big chunk of shares put on the block by its largest shareholder V.G. Siddhartha, even as the tax...
Yellow Tie hospitality gobbles up Bombay Blue
Restaurant franchise management company Yellow Tie Hospitality Management, has acquired casual dining brand Bombay Blue from Everstone Equity-owned Blue Foods for an undisclosed amount. Yellow Tie Hospitality operates...
Cafe Coffee Day founder in final talks with KKR & L&T info for Mindtree stake sale
Cafe Coffee Day Group founder VG Siddhartha is in final talks with L&T Infotech (LTI) and private equity firm KKR to sell his stake in mid-tier IT services firm Mindtree NSE 0.29 %. The deal is likely to be...
OYO to buy back Rs 50 crore worth shares from existing, past employees in January; check details
OYO Rooms has said Friday that it would buy ESOPs from 250 of current and former employees worth nearly Rs 50 crore (in the first round) in January 2019. The buyback program would be carried out through a secondary...
Warburg in ₹3,000 crore JV with Lemon Tree to offer co-living spaces
Hospitality chain Lemon Tree Hotels Ltd on Thursday said it has entered into a joint venture with global private equity firm Warburg Pincus Llc to form a platform that would jointly invest about ₹3,000 crore to develop...
Samena Capital invests Rs 1 billion in fresh funding in Bloom Hotels
Bloom Hotels Wednesday said it has further raised Rs 1 billion in a fresh round of funding from Samena Capital, taking the principal investment group’s stake in the company to 45 per cent. Samena Capital had...
Blackstone gets lenders nod to acquire bankrupt Golden Jubilee Hotels
US private equity major Blackstone Group has received the approval of bankrupt Golden Jubilee Hotels’ lenders to acquire the Hyderabad-based hotel that had shot into limelight after hosting Ivanka Trump, the fashion...
