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Showing posts from August 16, 2008

NEWS| EIH to invest Rs.6.5 bn on two new hotels

Hospitality major EIH Ltd, which operates the Oberoi chain of hotels, will invest Rs.6.5 billion ($165 million) to set up new projects in Goa and Bangalore, said a top company official here Thursday.

"We plan to start two hotels, one each in Goa and Bangalore, for which we have already got the land. The debt-equity ratio of the projects will be 2:1," said P.R.S. Oberoi, chairman of the company, during the annual general meeting.

EIH plans to invest Rs.5 billion on the Bangalore hotel, to be built on an eight-acre plot, and the rest for the Goa project on a 50-acre plot. It is expecting to get the approvals for both projects soon - Bangalore by next month and Goa by October.

PEOPLE| Tina Edmundson, Joins Marriott to Head Company's Lifestyle Brands

Marriott International, Inc. (NYSE:MAR) announced today that Tina Edmundson will join the company in a newly created role -- Senior Vice President, Lifestyle Brands and Renaissance Operations.

Edmundson, a former Starwood luxury group and W executive, will lead brand strategy and operations and help provide marketing oversight for the Renaissance and Renaissance Club Sport brands which represent a global distribution of more than 140 hotels. Recent investments of over $2 billion by owners and franchisees have propelled the Renaissance brand as a premier group of lifestyle hotels and resorts that feature the body of a full service with the soul of a boutique.

She will also provide strategic oversight and operational direction for the emerging and much anticipated Edition hotel brand. Edition, Marriott's newest and most innovative hotel experience, is being developed in collaboration with Ian Schrager and already has an exciting global pipeline of new properties with the first o…