Global hospitality company Marriott International today said it has signed a five-hotel conversion deal with SAMHI Hotels for its FairfieldBSE 0.23 % by Marriott brand in the country. The brand expects to add 583 new...
Hotel assets worth nearly $ 1 billion up for sale
Deal making could hit a record high in the hospitality sector this year with nearly $1billion worth of assets up for sale, according to a hotel mapping study done by real estate services firm Jones Lang LaSalle (JLLBSE ...
McDonald’s plea against NCLT show cause premature, observes Delhi HC
The Delhi high court on Thursday said that a plea by McDonald’s against a show cause notice issued to the fast-food major by the National Company Law Tribunal on a contempt plea filed by its estranged Indian partner...
McDonald’s India appeals against Delhi HC order allowing NCLT for contempt proceedings
McDonald’s India Pvt. Ltd (MIPL) on Monday moved the Delhi high court against an order by a single-judge bench allowing the National Company Law Tribunal (NCLT) to proceed with contempt proceedings against the burger...
Floatel on Ganga sinks into insolvency
Kolkata-based Manor Floatel Hotel, which runs recreational facilities on the Ganges in the city, has been taken to the bankruptcy court for defaulting on loans. IDBI BankBSE 2.22 % dragged the company to the National...
NCLT seeks McDonald’s reply to notice on contempt plea
The National Company Law Tribunal (NCLT) today directed the US-based McDonald’s Corp to submit a reply to the show cause notice issued by it over a contempt plea filed by the fast food chain’s estranged...
Wyndham to buy La Quinta hotel business for $1.95 billion
Wyndham Worldwide Corp (WYN.N) will buy La Quinta Holdings Inc’s (LQ.N) hotel operations for $1.95 billion, it said on Thursday, adding another well-known U.S. brand and nearly 900 mid-scale, upper mid-scale and economy...
NRI businessman Yusuffali MA acquires iconic Scottish hotel
Leading NRI businessman Yusuffali MA has acquired an iconic Scottish hotel based in Edinburgh in a $120 million deal clinched by Twenty14 Holdings (T14H), the hospitality investment arm of his Abu Dhabi headquartered...
NDMC likely to put off Taj Mansingh auction; bidders’ issues unresolved
The much-awaited bidding of the capital’s iconic Taj Mansingh hotel is set to be delayed further. The New Delhi Municipal Council (NDMC), given a nod by the Supreme Court last year to auction the luxury hotel, had plans...
Vatika Hotels buys back shares from Goldman for Rs 3 bn, plans IPO in Q3
Vatika Hotels, the hospitality arm of the Gurgaon-based real estate major Vatika group, has bought back shares held in it by US banking group Goldman Sachs for Rs 3 billion. Now owning 100 percent of its equity, the...
Brigade Enterprises may list proposed hotel unit as REIT
Bengaluru-based Brigade Enterprises Ltd, which is in the process of moving all its hotel assets into a separate unit, may consider listing the new entity as a real estate investment trust (REIT) or going public in the...
Israel’s Rami Levi to buy 20 percent of Cofix coffee chain
Israel’s Rami Levi Chain Stores (RMLI.TA) has agreed to buy 20 percent of coffee and snack chain Cofix Group (CFX.TA) at a company valuation of 105 million shekels ($30 million). Rami Levi, one of Israel’s leading...
