Only two potential bidders are believed to have shown initial interest for embattled Sahara group’s super luxurious Aamby Valley resort town, which has been put up for a Supreme Court ordered auction by the...
Hotel
London court wants experts to value Bakshi’s stake in McDonald’s
The London Court of International Arbitration has directed the appointment of experts to determine a fair and mutually agreeable valuation of the shares held by Vikram Bakshi in an equal joint venture with McDonald’s so...
NCLAT hearing today to decide fate of McDonald’s employees
The fate of 169 McDonald’s restaurants and its 6,500 employees hangs in the balance as the National Company Law Tribunal (NCLT)-appointed administrator has asked McDonald’s India and its estranged joint venture partner...
McDonald’s gets NCLT notice, will 169 India outlets face closure today?
The National Company Law Tribunal’s (NCLT) principal bench has issued a show-cause notice to fast food chain McDonald’s, for not following an earlier order that it should not interfere in the running of outlets given on...
No final pact with anyone to sell Chennai hotel: Hotel Leela
Hotel Leelaventure today said there is no final agreement with any party to sell its Chennai hotel, though negotiations are on to sell the property in coordination with JM FinancialBSE 0.86 %. The company has already...
Middle East giant in talks to buy Sahara’s billion-dollar US hotels
Embattled Sahara group is in talks with a large Middle-Eastern enterprise for sale of its majority stake in two prime New York hotels — including the iconic Plaza which was once owned by Donald Trump —...
Sahara group hires JLL for Plaza hotel sale: Report
Embattled Sahara group has roped in real estate consultancy major JLL for finding a buyer for its iconic Plaza hotel in the US which can fetch a valuation of over $500 million, a media report said today. The Wall Street...
Indian Hotels plans to raise Rs 1,000 crore
Indian Hotels CompanyBSE 0.44 % (IHCL), which runs the Taj Group of hotels, plans to raise about Rs 1,000 crore through a rights issue to fund the expansion of its Sea Rock and Taj Lands End properties in Mumbai, people...
Wanda Hotel to buy $1 billion of assets from Wang-controlled businesses
Wanda Hotel Development Co Ltd (0169.HK), a unit of Chinese conglomerate Dalian Wanda Group led by Wang Jianlin, said it would buy assets worth over 7 billion yuan ($1.05 billion) from Wang-controlled companies as part...
Azure Hospitality raises Rs 76 crore from existing investors
Azure Hospitality, the operator of restaurant chains Mamagoto, Dhaba by Claridges and Sly Story, has secured $12 million (Rs 76 crore) from existing investors Goldman Sachs and Max Ventures to fuel growth plans in India...
CG Hotels & Resorts to set up three property funds to buy distressed hotel assets
CG Hotels & Resorts, a part of the Kathmandu-based Chaudhary Group, is setting up three separate property funds to buy hotel assets as part of its expansion plan to double its hospitality portfolio, a top company...
FabHotels raises $25 million from Goldman Sachs, Accel Partners
Budget hotels chain FabHotels has raised $25 million in a Series B funding round led by Goldman Sachs, a top company executive said. FabHotels works on an asset-light model, partnering small hotels under a franchise...
