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GVK may sell stake in Hotel JV to FairfaxFairfax, which recently bought out GVK’s stake in Bangalore airport, has had multiple rounds of talks with the Hyderabad-based infrastructu...- Hospitality bumps: Why Indian hotels are doing poorly & bankers looking to recover loansThe red carpet is wearing thin at India’s large hotels, stampeded by bankers looking to recover loans. Overdevelopment and plummeting renta...
- Slowdown in hospitality deals due to strict property and bankruptcy lawsExperts believe more distressed hotel assets could be on the block this year after the insolvency and bankruptcy code kicked in, but very f...
- High-cost debt, tough lending norms hamper hotel industryPrestige Group, another Bengaluru-based builder that will soon open Hilton’s Conrad hotel, said investing in hotels will be more of a strat...
- Hotel owners rework pacts for better dealsA recent report by consulting firm HVS pointed out that of the 14% surveyed Asia Pacific contracts which permitted termination upon hotel s...
- Indian Hotels plans to raise Rs 1,000 croreIn a statement to the BSE on Aug 16, IHCL had stated that a meeting of the board of directors will be convened on Aug 21, for considering t...
- Highway hotels fudge bills to evade liquor banIndustry association members in Delhi-NCR, Mumbai and Bengaluru said they have not heard of instances of liquor being sold illicitly in hot...
- Ease of doing business: Food and beverages bitten by over regulationRestaurant operators say there is an immediate need to reduce the number of licences or approvals and move to a single window licensing sys...
- Indian hospitality industry shows signs of recoveryAverage room occupancy rate in Sept quarter, traditionally lowest period of biz for hotels in the year - stood at 56.5%, up from 53.2% in t...
- Hospitality gains impetus on better growth outlookOccupancy rate for the entire region rose 0.9% yearon-year to 69.2% in September, while the average daily room rate fell 2.2% to $112.31 an...
- Mid-market hotels considering exit options through total sales of their equity holdingsThe outcome: more than 100 key midmarket hotels are on the block today. “There are more than 100 hotels, across all tiers and pan-India."
- Amid economic slowdown over supply hits hotel occupancyMore than a third of hotel rooms remain unoccupied, with the industry reporting an occupancy level of 60% this year.
- Delhi hotels may be allowed to build and sell flats to raise fundsHotels will be allowed to use the 20% of the total built-up space, where they are permitted to set up a commercial and retail wing, to deve...
- Hotel chains like Leela, Lemon Tree, Accor, IHG go for management deals over investment in propertiesHotel chains, both global and Indian, are increasingly opting for management contracts rather than to invest in properties in the country.
- Morgan Stanley to sell 26% stake in IHHR HospitalityMorgan Stanley is selling its 26% stake in IHHR Hospitality, which owns the world's top-rated spa, Ananda in the Himalayas.
- Government's austerity drive: Ban on official meetings at five-stars hits hotels industryDelhi's Le Meridien Hotel has seen cancellation of meetings and seminars from four government departments in the past few days.
- Rising debt pushes Leela, DLF, Eros and others to put hotels on the blockSeveral key hotel assets are up for grabs across India, as their owners look to encash them to retire rising debt or generate working capit...
- International hotels use loyalty programmes to lure customersTravel aficionados appear to have strong allegiance to their favourite hotel brands, as they claim longer associations with hotel loyalty p...
- Indian hotel companies eyeing for standalone properties in US, EuropeExperts say homegrown hotel cos are looking properties in US and Europe, which are up for grabs following losses they made during global sl...
- US revival to give a boost to Indian IT companiesIn US, various sectors are expected to spend more on IT in 2010, thereby bringing more business for Indian IT exporters. Latest buzz in IT ...
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