The Competition Commission of India (CCI) approved the demerger of the hotel business of diversified entity ITC Ltd into a separate entity. After the completion of the demerger, shares of ITC Hotels Ltd, a new entity...
Brookfield in talks with bankers to take Leela Hotels public
Brookfield Asset Management has plans to list its luxury hotel chain, The Leela Palaces, Hotels & Resorts, and is in talks with bankers for the process, people familiar with the matter told ET. Brookfield had...
Playa Bowls’ owners explore sale of restaurant chain, sources say
The private equity owners of Playa Bowls are exploring options including a potential sale of the acai bowl chain that could value it at more than $300 million, according to people familiar with the matter. New Jersey...
Blackstone to buy restaurant chain Tropical Smoothie
Blackstone has agreed to buy Tropical Smoothie Cafe, the private equity firm said on Wednesday, in a deal that a source said valued the restaurant chain at $2 billion. The Atlanta-based company began operating as a...
NCLAT upholds insolvency proceedings against Tulip Hotels over default of guarantees
The National Company Law Appellate Tribunal (NCLAT) has upheld the insolvency proceedings against Tulip Hotels, which had defaulted on Rs 450 crore corporate guarantees given for Cox & Kings and EzeeGo One Travel...
NCLT rejects resolution plan for Cambay Hotels operator
The bankruptcy court in Ahmedabad has rejected Gujarat-based Express Group of Hotels’ revival plan for Neesa Leisure Ltd, which operates a luxury hotel chain under the brand Cambay. The company has admitted liabilities...
Chalet Hotels acquires Courtyard by Marriott Aravali for Rs 315 crore
Chalet Hotels Limited (CHL) said on Friday it has executed ‘definitive’ agreements for the acquisition of the 158-room Courtyard by Marriott Aravali resort. The resort is spread over 14 acres of land. CHL...
Mahindra Holidays in talks with several states for building, acquiring resorts
Mahindra Holidays & Resorts has entered into an agreement with the Andhra Pradesh government for investing Rs 500 crore in the state and is in talks with the governments in Rajasthan, Gujarat, Tamil Nadu and Jammu...
NCLT dismisses plea against Pancard Clubs resolution plan
The National Company Law Tribunal (NCLT) has dismissed a petition filed by Ashdan Properties against Chemhub Tradelink’s committee of creditors-approved resolution plan for Pancard Clubs. Ashdan was one of the...
Shri Ram Multicom to acquire Sarga Hotels under IBC
Hemant Kanoria-promoted Sarga Hotels, which operates a five-star hotel under the Westin brand in Kolkata, will be acquired by Shri Ram Multicom under the Insolvency and Bankruptcy Code (IBC) process. The Kolkata bench...
Choice Hotels goes hostile in Wyndham takeover battle
Budget hotel operator Choice Hotels International launched a hostile bid for peer Wyndham Hotels & Resorts and prepared for a board battle to bring the target to the negotiating table. Choice went public with its...
Yum Brands’ KFC to acquire 218 restaurants from EG Group in UK, Ireland
Yum Brands’ KFC said it will acquire 218 restaurants from its largest franchisee EG Group in the UK and Ireland. Once the deal is complete, all of the privately-owned EG Group’s KFC UK and Ireland businesses...
