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...
Indian Hotels, Oberoi among companies keen to buy Westin Kolkata
Tata Group-promoted Indian Hotels, Oberoi Realty, Brookfield Advisors and Goldman Sachs-backed SAMHI Hotels are among 38 companies that have shown interest in acquiring Westin Kolkata Rajarhat Hotel, said people aware...
McDonald’s to sell Russia restaurants to local operator, rebrand
McDonald’s Corp is selling its restaurants in Russia to one of its current local licensees, who will rebrand them under a new name, ending more than three decades of the “Golden Arches” in the country...
Deals are back on dining tables in India again
Investor interest, fundraising and mergers and acquisitions are back in the fine-dine, quick service and cafes sector amid industry revival after two years of pandemic-induced downturn, which brought the sector to a...
China’s Shimao sells Shanghai hotel for $708 mln to state-owned firm
Chinese property developer Shimao Group said it would sell a hotel in Shanghai to state-owned Shanghai Land Group for 4.5 billion yuan ($707.83 million), as it seeks to reduce its debt amid a crisis in the...
Reliance to buy control of New York’s Mandarin Oriental hotel for $98 mn
Reliance Industries Ltd is paying nearly $100 million for a controlling stake in Mandarin Oriental New York, a five-star hotel in midtown Manhattan, through the purchase of its Cayman Islands-based parent. Reliance said...
MGM Resorts to sell Mirage hotel and casino for $1.08 bln to Hard Rock
MGM Resorts International said on Monday it would sell the operations of the Mirage hotel and casino in Las Vegas to Hard Rock International for about $1.08 billion in cash. The Mirage opened in 1989 and was acquired by...
Fertitta’s hotel company, SPAC call off $8.6 bln merger
Billionaire Tilman Fertitta’s hotel company Fertitta Entertainment Inc and blank-check company FAST Acquisition Corp said on Friday they had mutually agreed to terminate their $8.6 billion merger agreement. The...
Jack in the Box to acquire Del Taco for over $450 mln
U.S. hamburger restaurant chain Jack in the Box Inc said on Monday it would buy Del Taco Restaurants Inc for $455.3 million, as it looks to expand its customer base and take advantage of the Mexican food chain’s...
