Hotels
The Delhi based real estate company Unitech Limited has been reported a total loss of Rs. 14.69 crore in the second quarter of the current financial year. For the last year’s corresponding quarter, the company has posted a total profit of Rs. 25.57 crore. Despite this, the Managing Director of Unitech, Mr.Sanjay Chandra said [...] Continue Reading »
Synergy Property Development Services, a Bangalore-based project management consulting and turnkey solutions company, has signed a memorandum of understanding (MoU) with Malaysia-based HSSI. This firm is an engineering consultancy practices company, and this MoU was signed for a strategic partnership to collaborate on real estate and infrastructure development projects in Malaysia, South East and Far East [...] Continue Reading »
In just over 30 years, Nirmal Singh Bhangoo, the man behind Pearls Agrotech Corporation Ltd (PACL) which has been asked to return Rs 49,000 crore to its investors by Sebi by November this year, has metamorphosed from a milk seller near the Attari border in Punjab to the owner of 1.83 lakh acres of land [...] Continue Reading »
REITs are investment trusts that own and, in most cases, even operate income-producing real estate. The trusts operate like mutual funds and invest in income-generating real estate assets like commercial realty, residential property, warehouses, hospitals, hotels and shopping centres So, while mutual funds invest in equities or bonds, REITs invest in real estate and make [...] Continue Reading »
Inter Continental Hotels Group (IHG) – one of the leading companies in global hospitality – has revealed in a recent statement that it has signed an agreement with realty developer Sikka, for opening a new hotel in Noida. The hotel will be opened under the company’s Crowne Plaza brand; and will mark an addition to [...] Continue Reading »
New properties are set to be launched by bigwig hoteliers in Metros as well as Tier 2 cities across India, in an evident attempt to reap financial gains form the next big wave of growth projected in the hospitality sector in the near future. Currently, out of the nearly 1 lakh branded hotel rooms in [...] Continue Reading »
According to Ajay K. Bakaya, Executive Director of Sarovar Hotel, country’s hospitality sector is poised for a significant upturn over the next six months. He added that there has been a prolonged sluggish situation in the hospitality sector due to various factors including economic slowdown. A lot of reports including that of World Bank and [...] Continue Reading »
The Dutch pension fund now holds around 13% stake in mid-market hotel chain Lemon Tree. This deal has pegged the valuation of the hotel at approximately Rs 3,000 crore. With the help of this capital infusion LemonTree aims to have close to 8000 owned and managed rooms by 2017. Earlier the hotel company signed a [...] Continue Reading »
Intercontinental Hotels Group (IHG), a UK-based leading hospitality chain, after five decades in India and 19 hotels, is planning to open 45 more properties in the next three to four years. Next to China, within Asia, this is the second highest pipeline. In the Indian market the company has put in $390 million and is [...] Continue Reading »
The Indian real estate market witnessed a drop in the investment in 2013. As per the report titled Investment Market beat 2013 by property advisory Cushman and Wakefield, investment in Indian real estate market decreased by 65 percent in 2013. The report also concluded the investment in the hotel industry have decreased the most by [...] Continue Reading »
