DLF is reportedly raising Rs.500 crore by sell of its stake in hotel subsidiary to Kolkata-based Square Four Housing & Infrastructure Private Ltd.
Many of the best luxury and ultra-luxury hotels from all over the world are readying plans to enter the India market, and are expected to set up chains over the next couple of years.
Saffron Group, the Delhi-NCR based real estate group, which has recently forayed into hotel business by launching the maiden hotel property – Comfort Inn Saffron Kiran at Faridabad, NCR, plans to make more investments in the hospitality sector primarily in Northern India.
DLF has bought its partner Hilton’s 26% share in joint venture DLF Hotels & Hospitality for Rs.120 crore.
While the rest of the world continues to recover from decreased tourism, international hotel chains are bullish to the Asia Pacific region where the travel market is on the rise and struggling to keep up with the demand.
Targeting the growing corporate sector in India, global serviced-residence owner-operator The Ascott International aims to double its presence by 2015 at an investment of about USD 250 million.
Mukesh Ambani’s wife Nita Ambani and his associate Manoj Modi joined the Board of Directors of EIH, the parent of the Oberoi Hotels chain that includes Calcutta’s Grand Hotel, on Monday, Oct 31.
This could be the best possible Diwali gift for common Mumbaikars—who want to spend a day with their families—with loads of fun and entertainment.
Singapore-based Ascott Group, which operates serviced residences across the world, is finally opening its doors to India.
The south Indian hospitality market would see an addition of 14,500 new rooms in 178 star hotels across southern states by the end of year 2012.