Search Result for : Hospitality Sector

Sheela Mamidenna 2017 has started off with a big bang as far as hotel real estate transactions in India are concerned. 2016 was quiet, but 2017 showered many deals and acquisitions. In an exclusive, Mandeep Lamba, MD, Hotels JLL India said, “this year saw the acquisition of a majority stake in India’s foremost hotel management company, Sarovar Hotels, by The Louvre Hotel Group (part of Jin Jiang International Holding). This transaction alone has paved the way for 2017 to set a new record in India’s fledgling hotel transactions’ market!” As per ICRA Research Services, the hotel industry for over nine years (FY2008-FY2016) has been in a trough after enjoying a brief honeymoon in FY2008 wherein heightened optimism about ‘India growing and shining’ ...

The Dollar Business Bureau  In order to keep its commitment to speed up the implementation of new proposals for investment, Odisha’s Single Window Clearance Authority (SLSWCLA) cleared projects worth around Rs.3,000 crore, in many sectors including steel, petrochemicals, hospitality and food processing that would help in generating employment opportunities for around 22,000 people.  The SLSWCLA headed by the State’s Chief Secretary A P Padhi recommended a proposal by navratna PSU, NLC India Ltd, for setting up a power plant to the high-level clearance authority chaired by Chief Minister Naveen Patnaik. NLC has submitted an investment proposal of Rs.11,783 crore for establishing a power plant in the Jharsuguda district.  “Most of the projects were committed by companies in the recently concluded ‘Make in Odisha’ conclave while two ...

Sheela Mamidenna If Donald Trump’s victory in the US election did not surprise you this will. A businessman Rajat Gupta (name changed to protect identity) booked two premier rooms with a city view for one night in a luxury five-star hotel, The Leela, Mumbai through www.booking.com and gets a voucher for, hold your breath, Rs. 210 (incl of all taxes) only! Bookings.com is a renowned online global accommodation site that reserves 1,200,000 room nights worldwide, each day. Gupta double checked, triple checked with his booking no., 1861922351, (check-in Dec 19, check out Dec 20) on booking.com and to his utter delight finds that he has indeed won a jackpot! Who wouldn’t be? After all, ‘tis the season to be merry and it is raining discounts everywhere. He ...

The Dollar Business Bureau Australian construction firm CIMIC Group’s Leighton Asia has won a contract to construct a project in Mumbai, the company said in a statement on Tuesday.  The company’s arm Leighton India Contractors has signed a pact to complete the second and third phases of the project Maker Maxity. This is likely to create a revenue of more than $169.5 million (approximately Australian $223-million) to the company. Maker Maxity is a retail, commercial and residential project at the upscale area of Bandra Kurla Complex, Mumbai.  Plans are afoot to develop this area into a hub for primarily investment banking. The second and third phases of the project include the development of both retail and hospitality sections of the project. CIMIC Group Executive Chairman ...

Wouldn't be wrong to say that Deepika has over the years been a part of the core team that has made fiery growth possible for Wyndham Hotels in India. To speak in common parlance, she's running the show for the 'Ramada' chain of hotels in Eurasia! Ahmad Shariq Khan | March 2016 Issue | The Dollar Business Deepika Arora, Regional Vice President – Eurasia Wyndham Hotel Group Today, Wyndham is the world’s largest hotel company, specialising in mid-market and budget hotels, but the success saga that the hospitality chain enjoys today neither came easy nor was it immediate. And India is no exception! In fact, in 2000, when the group entered the country, it had only eight hotels but thanks to persistent, ...