Online travel platform EaseMyTrip announced on Thursday that it has acquired hospitality management company Spree Hospitality. This is EaseMyTrip’s second acquisition. The company said Spree Hospitality will add a new...
Blackstone makes sweetened $6.2 bln play for Australia’s Crown
Investment giant Blackstone Group Inc made a $6.2 billion approach for troubled Australian casino firm Crown Resorts Ltd, sweetening an earlier offer as its main rival bidder is beset by regulatory problems. The A$12.50...
Trump reaches $375M deal to sell DC hotel – WSJ
Former President Donald Trump’s family hotel company has reached a deal to sell the rights to its Washington, D.C., hotel for $375 million, the Wall Street Journal reported on Sunday, citing people familiar with...
IHCL to buy balance stake in Roots Corp., raise ₹4,000 crore
Indian Hotels Co. Ltd (IHCL) on Thursday said it plans to buy the 40% stake it doesn’t own in unit Roots Corp. Ltd, which runs the Ginger brand of economy hotels, for ₹500 crore. The IHCL board also approved plans to...
LaLiT ready for stake sale, looks for strategic investor
Debt-laden Bharat Hotels, which operates hotels under The LaLiT brand is looking for strategic investors for a stake sale, sources familiar with the matter told ET. As per a discussion document floated by Yes Securities...
Hyatt to buy Apple Leisure Group from KKR, KSL Capital for $2.7 billion
U.S. hotel operator Hyatt Hotels Corp said on Sunday it entered a deal to buy resort company Apple Leisure Group from its private-equity owner KKR & Co and travel-and-leisure specialist KSL Capital Partners for $2...
Reliance Retail in talks to put Subway India on its plate
After grocery, ed-tech, music, e-pharmacy, payments, fashion and furniture, Mukesh Ambani seems to be keen on taking a big bite of the quick service restaurant (QSR) business. is in talks with the world’s largest single...
Cinven buys majority stake in Restaurant Brands’s Iberia unit
Buyout fund Cinven has bought a majority stake in Restaurant Brands International’s unit in the Iberian peninsula, in a deal valuing RB Iberia at 1 billion euros ($1.18 billion), the companies said in a joint statement...
After CCI and NCLAT, FHRAI takes its fight with Oyo to NITI Aayog
After CCI and NCLAT, Federation of Hotel & Restaurant Associations of India (FHRAI) is taking its fight with Oyo to NITI Aayog. FHRAI said it has submitted a representation to NITI Aayog which highlights the...
NCLAT upholds plea to drop insolvency case against Oyo
The National Company Law Appellate Tribunal (NCLAT) has allowed the withdrawal of the ongoing insolvency case against Oyo Hotels and Homes Pvt. Ltd(OHHPL), a unit of the multi-hospitality chain Oravel Stays Pvt. Ltd...
MGM Resorts to own CityCenter, buys partner Dubai World’s stake for over $2 billion
MGM Resorts will buy the remaining 50% stake in its joint venture on the Las Vegas Strip from a unit of investment firm Dubai World for $2.12 billion, the U.S. casino operator said on Thursday. The venture, CityCenter...
Suba Group acquires leisure hospitality chain 1589 Hotels
Mumbai-based hospitality firm, the Suba Group, which operates in the mid-tier segment, has acquired a controlling stake in the leisure budget hospitality chain, 1589 Hotels. The development highlights the consolidation...
