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...
Japan’s Ootoya allies with food delivery firm amid hostile bid
Restaurant chain Ootoya Holdings, a target of a hostile bid by its largest shareholder, Colowide Co, said on Friday it had allied with online grocery delivery company Oisix Ra Daichi Inc. Ootoya and Oisix Ra Daichi, a...
Fatburger owner to buy Johnny Rockets burger chain
Fatburger owner Fat Brands Inc said on Thursday it would buy 1950s diner-style chain Johnny Rockets from private equity firm Sun Capital Partners Inc for about $25 million. The deal comes as fast-food restaurants see a...
Ginger Hotels in talks to sell four hotels in sale and lease back arrangements
IHCL subsidiary Roots Corporation’s Ginger Hotels is in talks for sale and lease back arrangements for four hotels in markets such as Bengaluru, Goa, and Agartala as part of its asset monetisation strategy, people...
