Hotels Sector

OYO, Ola Money tie-up to enable seamless payment and mobility options

OYO, Ola Money tie-up to enable seamless payment and mobility options

New Delhi [India], Apr 5 : Largest hotel network OYO on Wednesday announced its partnership with Ola Money, the digital payment solution from Ola, India's most popular mobile app for transportation.

Under the partnership, OYO customers will be enabled to make one-touch payments for their hotel rooms through Ola Money wallet for both web and app bookings.

Treebo recruits Former COO of Opinio

Treebo recruits Former COO of Opinio

New Delhi [India], Feb. 15 : Treebo Hotels has appointed Abhishek Sharma, former COO at Opinio, for a strategic role.

Abhishek has joined the Founder's Office, a cross-functional cell, set-up to drive strategic priorities for the business. As part of the team, Abhishek will be responsible for working on key cross-functional initiatives for the company.

The Founders' Office is a team that works closely with the co-founders - Rahul Chaudhary, Sidharth Gupta and Kadam Jeet Jain, in running near term experiments and projects for immediate impact, as well as in building mid to long term capabilities for the organisation The new appointment is indicative of Treebo's plans to further strengthen its strategic position in the ecosystem by building a strong leadership team.

Tourico Holidays joins Hotelbeds Group strengthen footprint in India

Tourico Holidays joins Hotelbeds Group strengthen footprint in India

New Delhi [India], Feb 10 : Global bedbank and business-to-business provider of services to the travel industry Hotelbeds Group on Thursday announced its merger with Tourico Holiday to strengthen its footprint in the Indian market

"With the backing of Cinven and CPPIB we are entering the next phase of our development since becoming an independent company back in September. Therefore it gives me great pleasure to announce that Tourico Holidays will join Hotelbeds Group. Tourico Holidays has a well-deserved reputation for excellence and innovation that I have respected for many years. I look forward to working with its experienced leadership team," said Executive Chairman of Hotelbeds Group, Joan Vila.

Google and Djubo announce partnership to increase direct bookings on hotel websites

Google and Djubo announce partnership to increase direct bookings on hotel

New Delhi [India], Feb. 6 : Djubo, a cloud based SAAS (Software as a Service) Product Company for hotels, and Google have entered into a partnership for increasing the share of direct bookings for hotels. The product will be known as Fireball.

In order to help all hotels get maximum coverage for their hotel and actual bookings out of Google, Google has launched this partnership where all clients of Djubo will get immediate visibility for their direct booking engine across all platforms like Google Hotels, Google Maps, Google Business Listing and so on and will be charged a commission only when a booking happens. As a result of this partnership, Google will use their algorithms and artificial intelligence tools to handle the bidding.

Louvre Hotels Group announces acquisition of Sarovar Hotels

Louvre Hotels Group announces acquisition of Sarovar Hotels

New Delhi [India], Jan. 13 : Louvre Hotels Group has announced its acquisition of a majority stake in Sarovar Hotels, the largest independent Indian hotel chain in terms of hotels and presence.

The group has decided to become a majority stakeholder in Sarovar Hotels, an Indian company made up of 75 hotels on the premium, mid-range and budget sectors, through 3 leading brands -- Sarovar Premiere, Sarovar Portico and Hometel. There will be, however, no change in management of the Sarovar Group.

Darden Restaurants plans to Transfer around 430 of its Properties to REIT

Darden Restaurants plans to Transfer around 430 of its Properties to REIT

Last year in a proxy fight in Darden Restaurants, its entire board was replaced. Now, it has announced it will split off around 430 properties and will transfer them to a real estate investment trust.

On Tuesday, the owner of Olive Garden and the restaurants said that all of the transferred properties will basically be leased back to Darden. It is said that the deal will get complete by the year's end. Darden said that the proceeds will help in paying debts.

Mahindra Holidays acquires resort in Manali

Mahindra-HolidaysNew Delhi: Mahindra Group firm Mahindra Holidays & Resorts India Ltd (MHRIL) on Thursday announced the acquisition of its second resort, comprising 60 rooms, in Manali.

The resort was acquired by purchasing 100 percent equity share capital of Competent Hotels Pvt Ltd, MHRIL said in a filing to the BSE.

It, however, did not provide any financial details of the transaction.

This is the company's second resort in Manali and with this acquisition, the resort count stands at 41, MHRIL said.

EIH's full year net profit up 86 percent

Oberoi-hotelsNew Delhi, May 30 : East India Hotels (EIH), which runs hotel brands such as the Oberoi and Trident, reported an 86.49 percent rise in profit after tax at Rs. 95.04 crore for the financial year ended March 31, 2014.

The company had reported a profit after tax of about Rs. 50.96 crore for the previous financial year.

According to the company, its total revenue, including other income, during the financial year under review grew by 8.7 percent at Rs. 1,278.94 crore from Rs. 1,177.01 crore during the previous financial year.

Hilton to expand in Bangalore

Hilton-WorldwideBangalore, March 27 : Hospitality major Hilton Worldwide is expanding its presence in this tech hub by opening its second hotel in the city's upscale eastern suburb Friday.

"As our fourth brand hotel in India, Hilton Bangalore Residences will expand our presence in an important market in the country, which is among our key strategic regions," Hilton Hotels & Resorts global head Rob Palleschi said in a statement here Thursday.

IHG records 10% rise in pre-tax profits

IHG records 10% rise in pre-tax profitsIHG, which owns InterContinental, Crowne Plaza and Holiday Inn brands, has said that it has recorded a 10 per cent rise in pre-tax profits to the level of $US600 million.

The company said that profit after tax fell to the level of 31 per cent to $US372 million or about $A413.26 million compared to the previous year. IHG said that its revenues recorded an increase 4.0 per cent to $US1.9 billion in 2013 while revenue per available room rose to 3.8 per cent.

Hilton Worldwide enters Kerala

Hilton-WorldwideThiruvananthapuram, Dec 19 : Hilton Worldwide Thursday announced the opening of its holiday garden inn brand in Kerala's capital city.

"This is the third holiday garden inn brand in the country and with it, this becomes the 12th property of ours. In the coming months we are expanding our portfolio to Bangalore, Agra and Jaipur," said Guy Hutchinson, vice president operations, India, Hilton Worldwide here.

The Rs. 85 crore, 134-room hotel will be located in the heart of the city and owned by the Muthoot Hotels and Infrastructure Ventures Private Limited and is classified in the mid-category business hotel.

Hilton Worldwide raises $2.35 billion

Hilton Worldwide raises $2.35 billionWorld's biggest hotel operator, Hilton Worldwide Holdings has been able to raise $2.35 billion in an initial public offering.

Extended Stay America shares rise 16% on debut

Extended Stay America shares rise 16% on debutThe shares of hotel chain, Extended Stay America recorded an impressive rise of 16 per cent on the first day of its listing on the stock markets indicating that the investors are showing confidence in initial public offerings in the market.

The unique hotel chain that offers apartment-like rooms for longer periods, had priced its issue near the top of the range at $20 per share. The company had set a range of $18 to $21 for the initial public offerings and the shares rose as high as $23.90 and closed at $23.87 after recording an increase of 19.34 per cent on the first day.

IHCL abandons its $1.2-billion bid for Orient-Express

IHCL abandons its $1.2-billion bid for Orient-ExpressIndian Hotels Company Ltd (IHCL) is no longer will not further pursue its takeover bid for Bermuda-based Orient-Express Hotels, Tata Group confirmed on Friday.

IHCL, the operator of widely renowned Taj Mahal hotels, had offered to acquire the remaining 93.1 per cent stake in luxury hospitality chain Orient-Express Hotels at a 40 per cent premium to the then market price.

Potbelly Corp shares more than doubled on debut

Potbelly Corp shares more than doubled on debutThe shares of restaurant chain Potbelly more than doubled in its Initial Public Offering on Friday as investors showed confidence in the market.

Potbelly, which operates around 300 sandwich shops in the United States, recorded an increase of around 130 per cent in the value of its shares their initial offering price of $14. The company had raised $105 million after increasing its IPO price to $14 a share, from a range of $12 to $13 per share. Data showed that the shares of the company were trading at $32 a share on Friday morning.

Taj to open more Vivanta, Gateway brand hotels

vivanta-taj-hotelFaridabad, Sep 12 : Hotels and resorts major Taj Thursday said it will go ahead with its expansion plans despite the economic downturn by opening 15 more Vivanta brand hotels and 14 Gateway properties.

"We will be opening around 15 Vivanta and 14 Gateway properties. The industry has witnessed a slowdown, however, with the US and European economies improving and the current rupee devaluation will help us in attracting more tourist and customers," Vivanta CEO Veer Vijay Singh told IANS.

Five star hotel dedicates floor to single women travellers

The-Leela-PalaceNew Delhi, Aug 22 : The Leela Palace five-star hotel in the capital has dedicated a floor for single women travellers. Titled Kamal, the floor offers women safety, maximum comfort and privacy.

Kamal is equipped with CCTV’s and has restricted elevator access, said a statement.

Top US award for Indian resort

Oberoi-UdaivilasNew Delhi, July 18 : The Oberoi Udaivilas, Udaipur has been voted the Best Resort in Asia for the third consecutive year by Travel + Leisure, World's Best Awards, 2013. The ranking is the result of a readers' poll conducted by the magazine.

"It is indeed a moment of pride for us that The Oberoi Udaivilas, Udaipur has been voted the Best Resort in Asia for the third consecutive year. This is a significant landmark for Indian tourism that will make India a preferred destination amongst international travellers," said P. R. S. Oberoi, executive chairman of The Oberoi Group.

Delhi hotel named among Asia's best

Delhi hotel named among Asia's bestNew Delhi, July 6 : The Taj Palace Hotel here is in the fifth spot in a list of best city hotels of Asia 2013.

The list has been compiled as part of the Travel + Leisure World's Best Service Survey-2013, which features hotels, resorts, airlines, and cruise lines that have earned top scores for service. The rankings are based on the magazine's reader's votes.

Officials at the Taj Palace Hotel are delighted.

Twinkies likely to come back in July

Twinkies likely to come back in JulyAccording to an update on the Hostess' website, the much loved Twinkies are likely to return to shelves in the United Sates during the month of July this year.

The new owners of Hostess have indicated that the company will soon reopen bakeries in Indiana and Illinois enabling the return of Twinkies and Ho Hos to the market shelves. The company had earlier said that it will open bakeries in Georgia and Kansas as part of its efforts to re-launch some of the popular brands of products from the company.

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