Nepal-based CG Corp Global is in advance talks to acquire a publicly-listed hotel brand in India, a top company official has said. The company also plans to add 26 new managed hotel properties in the country expected to...
France’s Accor plans to sponsor a SPAC to raise $365 million
Europe’s biggest hotel group Accor said on Thursday it planned to sponsor a blank-check firm to target acquisitions in the leisure, lifestyle and food sectors. The company said in a statement it expected the special...
FHRAI says allowed by NCLAT to intervene in OYO unit insolvency
Industry body Federation of Hotel & Restaurant Associations of India (FHRAI) on Monday said it has been allowed by the National Company Law Appellate Tribunal (NCLAT) to intervene on behalf of hotels in the OYO unit...
Warburg Pincus ends JV with Lemon Tree Hotels for student housing
Warburg Pincus has ended a two-year-old joint venture (JV) with Lemon Tree Hotels for student housing and co-living spaces, said sources in the know. “Apparently, Warburg was not happy with the way the JV had progressed...
Japan’s Kintetsu to sell hotels to Blackstone as private equity activity grows
Japan’s Kintetsu Group Holdings will sell eight hotels to U.S. buyout firm Blackstone Group for an undisclosed amount, the railway operator said on Thursday, in the latest private equity deal. Blackstone is part of a...
Hyatt Regency Delhi dragged to bankruptcy
Hyatt Regency Delhi has been dragged to bankruptcy by Continuum Energy, a Morgan Stanley-owned renewable energy company that claims the hotel defaulted on a power purchase agreement that the two sides had entered...
Flynn Restaurant to buy half of Wendy’s burger joints operated by bankrupt NPC
Fast-food chain Wendy’s Co said on Thursday restaurant operator Flynn Restaurant Group would buy half of its nearly 400 outlets operated by bankrupt NPC Quality Burgers Inc, with the rest being bought by several of its...
Indian Hotels looks East, signs three-hotel deal with Ambuja Neotia Group
Indian Hotels Company (IHCL) said on Monday it had signed a three-hotel deal with Ambuja Neotia Group as it seeks to make deeper inroads into eastern India. The new projects in eastern India include two in Kolkata and...
Rabo, Yes stall sale of CCD unit to Tata
The Tata group’s offer to buy the Coffee Day Group’s beverage vending machine business has hit a hurdle with two lenders to the struggling coffee chain blocking the deal until their dues are cleared, two people with...
Treebo raises ₹10 crore from angel investors
Budget hotel chain, Treebo Hotels on Tuesday said that it has raised ₹10 crore from a group of angel investors including founder and CEO of Paytm, Vijay Shekhar Sharma; co-founder and CEO of Rebel Foods, Jaydeep Barman;...
Western U.S. restaurant chain Rubio’s files for Chapter 11 bankruptcy
Rubio’s Restaurants Inc, which started as a fish taco stand and now operates Rubio’s Coastal Grill in the western United States, filed for bankruptcy protection on Monday, the latest dining chain to succumb during the...
Shares in hoteliers Accor, IHG rise after reported merger interest
Shares in France’s Accor rallied on Thursday after Le Figaro newspaper reported it had examined a potential merger with British rival InterContinental Hotels (IHG) that would create the world’s biggest hotel group. The...
