The Kathmandu-based CG Corp Global is setting up two investment platforms to acquire hotels and resorts. Funds, about Rs 5,000 crore, would be used to buy property in India, Southeast Asia as well as stressed...
Hotel
LVMH investment arm buys Smoke House Deli owner
French luxury goods conglomerate LVMH’s investment arm L Catterton Asia has acquired majority stake in restaurateur Riyaaz Amlani’s Impresario Entertainment & Hospitality, promoter of fine dining...
Embassy Group’s Jitendra Virwani may buy Hard Rock Café franchisee
Jitendra Virwani, owner of Bengaluru-based real estate conglomerate Embassy Group, is close to buying a controlling stake in JSM Corp. Pvt. Ltd, which runs Hard Rock Café and California Pizza Kitchen in India, two...
Venture Catalysts buys 10% stake in Chai Break for Rs5 crore
Chai Break, a Kolkata-based restaurant chain that serves hookah and snacks, has been valued at Rs50 crore in the first round of an external funding. ALP Retail Pvt. Ltd, which runs the chain, on Monday said it sold a...
Chai Point plans to raise more than $10 million in Series C funding
Mountain Trail Foods Pvt. Ltd, which owns the Chai Point chain of tea stores, plans to raise more than $10 million in a Series C round of funding, which it expects to close in the first half of 2018. The next round of...
Spanish hotels company Barcelo offers to take over NH Hotels
Grupo Barcelo has made a tentative takeover approach for rival NH Hotel Group (NHH.MC) to create the biggest hotel operator in Spain, where tourism is booming. Family-owned Barcelo has proposed taking a 60 percent stake...
Kanoria Foundation’s Shristi Hotel looking to buy business hotels, resorts
With a corpus of Rs1,500 crore, Shristi Hotel Pvt. Ltd, an arm of Kolkata-based Kanoria Foundation, is looking to acquire business hotels and resorts across the country, with a strategic focus on cities like Mumbai...
Tata Sons hikes stake in IHCL by 1.78% to 29.79%
Tata Group hospitality firm Indian Hotels CompanyBSE 2.13 % today said Tata Sons has raised its holding in the company by 1.78 percent to 29.79 percent pursuant to a rights issue. Tata Sons earlier had 28.01 percent...
NDMC finalises tender docs for auction of Taj Mahal hotel
The New Delhi Municipal Council (NDMC) finalised the tender document and licence deed for the auction of the Taj Mahal Hotel at a meeting chaired by Delhi chief minister Arvind Kejriwal on Monday. “The tender...
Snoman Logistics bets big on IKEA deal
BSE-listed Snowman Logistics bagged an exclusive deal from IKEA, the global home furnishing retail major, to manage backend operations of its in-store restaurants business in India. The value of the deal was not known...
Accor in $920 million Mantra bid as Australia tourist boom stokes hotel demand
France’s Accor SA has bid A$1.18 billion ($920 million) for Mantra Group Ltd – a deal that would combine the two biggest hotel owners in Australia and seek to capitalize on surging tourism in the country. Accor...
Provenance Land to raise Rs1,000 crore from private equity funds
Provenance Land Pvt. Ltd, which has built Four Seasons and Hyatt Regency hotels in India, is planning to raise around Rs1,000 crore from private equity funds, a top company executive said. Most of this money will be...
