AccorHotels plans to open 14 new Novotels in India
The Dollar Business Bureau AccorHotels is planning to expand its presence in India with a pipeline of 14 new Novotel properties in the near future. The French hotel group announced this during the tenth anniversary of Novotel in India. Currently, Novotel has 13 hotels in the main cities in the country. AccorHotels and Cyberabad Convention Centre Pvt Ltd have renewed their partnership agreement for the management of Novotel Hyderabad Convention Centre and the Hyderabad International Convention Centre (HICC). Both the facilities operate in a distinctive style meeting the requirements of every guest all the time. Cyberabad Convention Centre is a joint venture between the Telangana State Industrial Infrastructure Corporation (TSIIC) and Emaar Properties PJSC, Dubai. The 15-acre state-of-the-art convention facility in Hyderabad has 287 rooms ...
Emaar to split from its Indian JV partner-MGF
The Dollar Business Bureau India-based real estate company MGF Development Ltd. and Dubai-based real estate developer Emaar properties have announced their division on Wednesday. The process has already started. Emaar, known for constructing Burj Khalifa, has begun the demerger procedure with its 11-year old Indian joint venture partner, and will finish a decade-long bond with the Indian real estate giant. “In order to lend greater focus on its Indian operations and for the purpose of developing the potential for further growth and expansion of the business, Emaar properties agreed to take steps for the reorganisation of Emaar MGF Land Ltd. by way of scheme of arrangement (demerger),” Emaar said in its official statement. “This reorganisation will enable Emaar to implement focused strategy for its ...
