The Supreme Court has ruled an appellate bankruptcy tribunal was right in rejecting Appu Hotels’ resolution plan even as 87.3% of verified financial creditors approved the offer given by M K Rajagopal, the founder of...
Dharampal Satyapal Group wins bid for Viceroy Bangalore Hotels
The Dharampal Satyapal Group has emerged as the winning bidder for Viceroy Bangalore Hotels, which has been going through insolvency proceedings since last year. Viceroy Bangalore Hotels Pvt Ltd, which owns the Marriott...
Chalet Hotels to acquire The Dukes Retreat in Khandala for Rs 133 crore
Chalet Hotels Limited (CHL) said it has signed definitive agreements for the acquisition of The Dukes Retreat, Khandala, an 80-room resort for an enterprise value of Rs 133 crore. Chalet Hotels is the owner, developer...
Everstone Capital in talks to offload Burger King stake
Private equity firm Everstone Capital is in talks with General Atlantic to sell its stake in the India master franchise of American fast-food restaurant chain Burger King, people directly aware of the matter said...
Seven entities in race to acquire Asian Hotels (West)
Lenders of Asian Hotels (West) received seven expressions of interest, including from K Raheja Group entity, Devvrat Developers and Panchshil Corporate Park, said two people aware of the development. The listed Asian...
Three bidders in close fight for Rajesh LifeSpaces’ hotel business
Ahmedabad-based hospitality and restaurant group Sankalp Recreation, Kolkata’s Shri Ram Multicom and Rare Asset Reconstruction Co are the bidders remaining in the race to take over the now-defunct Mumbai-based...
EaseMyTrip acquires majority stake in hotel booking marketplace cheQin
EaseMyTrip announced that it has acquired a 55% majority stake in cheQin through the primary route. cheQin is a real-time marketplace that allows travellers bargain possibilities with hoteliers. The company said the...
Sandwich chain Subway eyes sale
Sandwich chain Subway is exploring a sale of its business, a source told Reuters on Wednesday. The sale could value the sandwich chain at more than $10 billion, the Wall Street Journal first reported. The process, which...
Indian Hotels, Chalet among cos keen to acquire debt of Rajesh Lifespaces’ arm
The Tata Group’s Indian Hotels, K Raheja Corp Group’s Chalet Hotels and the local asset owner of the Hyatt chain are among 26 entities that have expressed interest in taking over the debt of the defunct...
NCLT allows RP to resume V Hotels insolvency process
A bankruptcy court has allowed the resolution professional of V Hotels to resume the Corporate Insolvency Resolution Process (CIRP) initiated against the company and undertake a review of all transactions undertaken the...
Asian Hotels (West) to undergo insolvency proceedings
The bankruptcy court last week admitted an insolvency case against Asian Hotels (West), which operates the Hyatt Regency hotel near the Mumbai airport, on a petition filed by JM Financial Asset Reconstruction Company...
YES Bank likely to acquire Bengaluru’s Ritz Carlton from NEL Holdings
YES Bank may soon take over Bengaluru’s iconic Ritz Carlton hotel. The hotel’s holding company, NEL Holdings South Ltd, has failed to repay the Rs 300 crore it owes to the bank, a report by Mint stated...
