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Showing posts from January 9, 2009

NEWS| Vedansh Hospitality to create four hospitality complexes by end 2010

Vedansh Hospitality & Resorts Pvt Ltd (VHRPL), a Mumbai-based hospitality company, is in the process of creating hospitality complexes in Kolhapur, Pune and Panchgani by 2010. The company’s first property is being developed in Mumbai for which it has earmarked an investment of about Rs 50 Crore.



The company plans to develop the property under the 'C2V' brand. It is operating on a model wherein each hospitality complex will consist of 'C2V Creams & Cakes', a confectionery store; 'Chilli 2 Vanilla', a fine dine multicuisine restaurant that serves Indian and Chinese cuisine; 'C2V' pub; 'C2V' coffee shop; C2V banquets and C2V, a four star boutique hotel. At the first property being developed in Mumbai, the company has already started operations of the fine dine restaurant, confectionery store, pub and banqueting segment. The coffee shop is expected to start operations by end January 2009. The boutique hotel will offer about 40 to 60 rooms and…

NEWS| Intl| LRG launch hospitality fund

The Larkspur, California-based private equity real estate firm is hoping to close on its $50m LRG Capital Hospitality Fund in the next few months. The vehicle will target early-stage restaurants.




LRG Capital, the private equity and real estate firm, has launched a new hospitality fund to target restaurants struggling for capital in the wake of the economic downturn.

The Larkspur, California-based firm, which manages real estate, emerging markets, debt and hedge funds, said the fund was, LRG Capital Hospitality Fund, would focus on early-stage restaurant concepts in the US.

The fund is reportedly targeting $50 million and is expected to close in the next month or so, and, according to a Dow Jones LBO Wire report, will target over-leveraged owners. The fund is expected to invest $5 million to $15 million per deal in restaurants with 40 to 50 units and at least $500,000 to around $1 million in earnings before interest, taxes, depreciation and amortization.








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NEWS| The Dukes Retreat signs a management contract with KEYS Resorts

The Dukes Retreat, Khandala has signed a management contract with Berggruen Hotels and will now be called ‘The Dukes Retreat - a Keys Resort.’ The family-run Dukes Retreat has taken this step towards consolidating its position as the preferred holiday destination.





Milind Thakker, a member of the family that owns The Dukes Retreat said, “The management team at Berggruen Hotels has more than two decades of experience in the hotel management industry and an excellent domain knowledge; hence, we are assured of the utilisation of international best practices.

We plan to significantly modernise and expand the hotel with more rooms and larger banquet space over the coming years.” On offer are 80 rooms of which 54 are Executive rooms, 18 are Deluxe rooms and eight are cottages.








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TRENDS| Top 10 Food Trends In 2009

1. Comfort food
When life gets tough, food gets friendly.

2. Hispania por flavour
Spanish dishes should appear on menus.

3. A little yen
Japanese cuisine, particularly sushi, will finally make the transition from five-star hotels and expensive fine-dining restaurants to more affordable outlets.

4. In praise of prosciutto
Italian continues with regional menus

5. More pasta

6. Go green

7. Tough nut
Allergen-sensitive menus and allergen-sensitive packaged foods will be a big boon.

8. Table for one
Hotels have realized that business travellers often travel alone.

9. Fresh ‘n’ fruity
Fresh exotic fruits are becoming easily accessible.

10. Chuffing down chèvre
Indians love cheese but the cold favourite for 2009 is goat’s milk cheese.

source| http://www.livemint.com








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NEWS| 53 lakh tourists visited India in 2008

India's tourism sector has grown by 6 per cent with 5.3 million arrivals in 2008, despite the global slowdown hitting the tourism industry worldwide.






In 2007, 50.8 lakh tourists had thronged India.

"While the global average of growth was about 2 per cent, Indian tourism sector grew to 53 lakh arrivals in 2008," Tourism Joint Secretary Leena Nandan told reporters on the sidelines of a FICCI conference in New Delhi.

This has helped India get Rs 50,730 crore worth of foreign exchange in 2008 compared with Rs 44,260 crore in 2007, up about 14 per cent, she added.








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NEWS| Intl| Unemployment Rate Hits Highest Point in 16 Years

The Labor Department report showed the nation's unemployment rate bolted to 7.2 percent in December, the highest level in 16 years, as employers slashed 524,000 jobs. The labor market is expected to remain weak as mass layoffs continue.





In 2008, the economy lost a net total of 2.6 million jobs, the most since 1945, when nearly 2.8 million jobs were lost, though the number of jobs in the U.S. has more than tripled since then.

The 7.2 percent unemployment rate is up from 6.8 percent in November. It is the highest since January 1993. All told, 11.1 million people were unemployed in December.

Job losses in both October and November turned out to be worse than previously estimated. Revised figures showed that employers slashed 584,000 positions in November and another 423,000 in October.

Job losses were widespread in December. Construction companies slashed 101,000 jobs, and factories cut 149,000 jobs. Professional and business services got rid of 113,000 jobs. Retailers eliminated nea…