Indus Hospitality Fund and India Discovery Fund have together announced an open offer for the shares of Sterling Holiday Resorts Ltd at Rs 36.25 a share, to acquire 22.86 per cent of the company’s existing equity...
Unitech sells hotel for Rs 200 crore
Third sale in two months, more to follow. Unitech Ltd, the country’s second-largest real estate developer, has sold its under-construction hotel on National Highway-8, Gurgaon, for Rs 200 crore to an individual...
Indian Hotels buys 2.25 million shares of Orient Express
Indian Hotels, owner of the Taj Group of hotels, has bought 2.25 million shares of the New York-listed Orient Express Hotels (OEH) at $5.75 a share, in a market transaction totalling $12.93 million (about Rs 64.65...
Pride hotels lines up Rs 600 crore for expansion
Pride Group of Hotels will invest over Rs 600 crore over the next 2-3 years to strengthen its portfolio through greenfield projects and acquisitions, said a top company official. The investments will include a new...
Marriott wins back Sheraton-owner Starwood with new offer
Starwood Hotels and Resorts Worldwide Inc, owner of the Sheraton and Westin brands, accepted a sweetened $13.6 billion acquisition offer from peer Marriott International Inc, spurning China’s Anbang Insurance...
Starwood Hotels Gets Unsolicited $13 Billion Takeover Approach
Starwood Hotels & Resorts Worldwide Inc. received an unsolicited takeover proposal from a group of investors led by China’s Anbang Insurance Group Co., potentially upending a deal with Marriott International Inc...
Blackstone-Anbang agree on $6.5-bn hotel deal
Blackstone Group agreed to sell Strategic Hotels & Resorts to China’s Anbang Insurance Group Co. for about $6.5 billion, just three months after it purchased the US.luxury-resort company, according to people...
Hinduja Group acquires London’s Old War Office building; to redevelop into 5-star hotel.
The Hinduja Group has acquired the heritage building, Old War Office that was once inhabited by the Britain’s war-time Prime Minister Winston Churchill from the British Ministry of Defence, the company said. The...
Indian Hotels to exit another Gateway Hotel.
The Tata group controlled Indian Hotels Company, which owns and operates the Taj Hotels Resorts and Palaces, has decided to discontinue its management contract for The Gateway Hotel Rawalkot Jaisalmer, the company said...
Indian Hotels sells stake in Belmond at loss
Indian Hotels Company (IHCL), one of the country’s largest and oldest hotel chains, said on Friday its subsidiary Samsara Properties sold 1.24 per cent stake in Belmond for $11.96 million (Rs 81.32 crore). After the...
OYO buys ZO in hotel room consolidation drive
Hotel accommodation aggregator OYO Rooms has acquired smaller rival ZO Rooms, setting the stage for more consolidation in the segment that has brought thousands of smaller hotels and service apartments online. The...
SAMHI Hotels buys Pune Hyatt Regency for Rs 350 crore.
Hotel development and investment firm SAMHI Hotels has acquired Hyatt Regency in Pune from RK Jatia Group-owned Ascent Hotels for an estimated Rs 350 crore. The acquisition will be funded through a mix of debt and...
