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...
Again, ITC fills room with scent of a hotels demerger
ITC is reviving its plans to create an alternative structure for the hotel business following a recovery in the hospitality industry after Covid-19, managing director Sanjiv Puri said. Addressing shareholders in the...
Starbucks says it’s not in formal sale process for UK business
Starbucks Corp is not in a formal sale process for its UK business, a company spokesperson said in a statement after The Times reported earlier that the coffee chain is exploring a sale of the UK operations. According...
Accor to sell 10.8% stake in Ennismore to Qatari consortium for 185 mln euros
French hotels group Accor is to sell a 10.8% stake in Ennismore to a Qatari consortium for 185 million euros ($195 million), the French hotels group said. Accor said the deal valued Ennismore, known for Hoxton hotels in...
Choice Hotels confirms acquisition of Radisson Hotel Group Americas for $675 million
Choice Hotels International has signed an agreement to acquire Radisson Hotel Group Americas. The deal is valued at $675 million and was announced by Choice Hotels. The agreement includes the franchise business, hotels...
