Banyan Tree Holdings announced on Thursday that it has entered into heads of agreement with AccorHotels. Under a long-term partnership, Accor has picked up a 5% stake in Banyan Tree and will invest an initial SGD 24...
McDonald’s to keep up to 25 percent stake in China, HK stores – source
McDonald’s Corp (MCD.N) is looking to raise $1 billion to $2 billion with the sale of its China and Hong Kong stores after the U.S. fast-food chain decided to keep “a significant minority stake in the...
Citic-Carlyle near deal to buy McDonald’s China assets: source
A consortium led by private-equity firm Carlyle Group (CG.O) and Chinese conglomerate Citic Group Corp has neared a deal to buy McDonald’s Corp’s (MCD.N) stores in China and Hong Kong for up to $3 billion, a...
Taj ties up with Shangri-La in bid to expand global footprint
Taj Hotels and Resorts, a luxury hospitality chain run by Indian Hotels Company Ltd (IHCL), has formed a marketing alliance with Hong Kong-based hotel chain Shangri-La Hotels and Resorts in a bid to increase its...
Quess buys out Manipal’s facility management & catering business
BENGALURU: Quess Corp, the integrated business services firm controlled by Canadian billionaire Prem Watsa, announced the buyout of facility management and catering business from Manipal Integrated Services, promoted by...
French caterer Elior Group takes acquisition route to enter India
MUMBAI: French multinational commercial catering and food service company Elior Group has made its foray into the Indian market with acquisitions of MegaBite Food Services and C Ramachandra Caterers. The French group...
Elior Group enters India with acquisition of MegaBite, CRCL
Elior Group, a France-based contract food and support services provider, has entered the Indian market with the acquisitions of two food caterers, MegaBite Food Services, and CRCL, for an undisclosed amount. While...
AccorHotels finalizes acquisition of John Paul
NEW DELHI: AccorHotels has finalized the acquisition of concierge company John Paul, Accor Hotels said in a statement. John Paul founder David Amsellem will retain a 20% stake in the company and continue to serve as its...
AccorHotels to buy stake in German boutique hotel chain 25hours
AccorHotels (ACCP.PA) is buying a 30 percent stake in Germany’s 25hours Hotels for 35 million euros ($39 million), stepping up its expansion in the fast-growing market for “boutique” hotels that shun...
Legal tussles, valuation mismatch take a toll on M&A activity in hospitality sector
Mergers and acquisition (M&A) deals in the hospitality sector haven’t picked up this year as legal issues plague properties and buyers and sellers can’t agree on valuations. Only 12 M&A and private equity deals...
Marriott International plans to add 85 more properties in India in 3-5 years
Kolkata: Leading global lodging company Marriott International Inc. is looking to add 85 more properties in India over the next 3-5 years. The US-based hotel chain, which completed an acquisition of Starwood Hotels...
Millitoons plans to acquire 9 US hotel companies for Rs 491 crore
NEW DELHI: Integrated design solutions company Millitoons Entertainment plans to foray into the hospitality sector by acquiring 9 companies in the US for USD 73.25 million (approx Rs 491 crore). “The company has...
