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...
Hotel
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...
Zomato breaks even in 6 markets, to raise $200 mn
Beating the other food technology companies on the road to profitability, online restaurant search, rating and food-ordering firm Zomato has operationally broken even in India, as well as five other markets – the...
Radisson owner exploring sale, options for hotel business
Radisson hotels owner Carlson Cos Inc [CARLN.UL] is exploring strategic alternatives for its hotel business, including a sale, the Wall Street Journal reported on Thursday. A merger or a partnership are the other...
Xander Group sells Devigarh Palace for around Rs 90 crore
MUMBAI: Hotel Devigarh Palace, the royal residence of the rulers of Delwara principality of the 18th century, has been sold by the Xander Group to a royal family of Jodhpur, Rajasthan, for around Rs 90 crore...
China’s BTG Hotels to acquire economy hotel chain Homeinns for $1.7 bln
Dec 8 China’s BTG Hotels Group said it will acquire domestic rival Homeinns Hotel Group for around 11 billion yuan ($1.7 billion), saying that the economy hotel chain will round out its portfolio of brands. State...
Temasek, Vy Capital Invest In Zomato
Online restaurant search and review portal Zomato, has raised about R400.29 Cr ($60 Mn) in a fresh round of funding led by Temasek Holdings, and existing investors Vy Capital. The proceeds will be utilize in its new...
