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Best Western India appoints Gaurav Sarin as GM Sales & Marketing

Best Western India, part of the world largest Hotel Chain has announced the appointment of Gaurav Sarin as General Manager – Sales & Marketing.

Pride Hotels to invest Rs 1,000 crore for expansion

Mumbai-based hospitality company The Pride Hotels will invest Rs 1,000 crore in the next five years to open ten new properties across India and expand existing ones. The company, which has around 1,000 rooms in its ten properties at present, will have total of around 3,000 rooms when its planned expansion is completed. It is expecting revenues from the hospitality business to touch Rs 300 crore in the next five years from the current Rs 100 crore.

Accor and InterGlobe establish Indian hotel fund

A new investment fund that focuses on a portfolio of Indian hotel assets has been established by Accor and InterGlobe Enterprises, with each of them holding 32% equity in the fund.

Accor sells Ibis S'pore hotel for over $200m to private investor

Ibis Singapore on Bencoolen has been sold by French hotel chain Accor for an undisclosed fee that represents the highest single asset transaction recorded in the Asia Pacific this year in terms of dollars.

Tata Group plans to list Ginger hotels

The Tata Group promoted Indian Hotels Company Limited (IHCL) is planning to list its two-star economy buget hotel chain Ginger Hotels (Roots Corporation Ltd) on stock exchanges as part of the company's expansion plans.

Indian Hotels set to hike tariffs after 2 years

Indian Hotels Company Ltd, that owns the Taj luxury chain of hotels, has said it is looking to increase its room rates by September or October this year, its first hike after almost two years and looking to add close to 1,500 new rooms in FY'11 across 13 hotels in India and South Africa.

QSR chains beat inflation blues

Top quick service restaurant (QSR) chains like Pizza Hut, McDonald's, Café Coffee Day (CCD) and KFC have stayed ahead of the double-digit inflation to record top line growth of 20 to 30 per cent in the first half of the year.

Taj Hotels' Owner Reports Biggest Drop in Net Profit in Almost Eight Years

Indian Hotels Ltd., the nation's largest operator, reported it biggest drop in profit in almost eight years as costs rose and it kept part of the terrorist-hit Taj Mahal Hotel & Towers closed for renovation.

77-storey hotel to change face of Prabhadevi

The proposed 77 storey five star hotel and business centre to be developed by Ackruti Group at Prabhadevi will come up on a plot earlier reserved for industrial use and recreational ground. The 5.3 acre prime real estate plot earlier housed Hindustan Spinning and Weaving Mills. It will now get a swank new sea facing hotel with 630 service apartments, 320 rooms and 84 business centres.

Oriental Hotels Plan to Expand in South India

Oriental Hotels, a part of the Taj Group is set on expanding its foothold in South India by setting up two hotels in two cities in the South and thus expanding the number of rooms.

Starwood Hotels Bets Big on Puerto Rico

* Doubling its Portfolio in Puerto Rico in Just 12 Months, Starwood Prepares for the Opening of St. Regis Bahia Beach – the First Luxury Project on the Island Since 1997
* Starwood CEO Meets with Puerto Rico Governor, Owners and Developers to Discuss Future Hotel Development

Hilton Worldwide signs management agreements with King Saud University Endowment

Hilton Worldwide has signed management agreements with Saudi Arabia's King Saud University Endowment for the 241-room Hilton Riyadh King Saud University and the 155-room Hilton Riyadh King Saud University Residence, which are expected to open by 2012.

MakeMyTrip fixes IPO price at USD 14/share, to raise USD 70 million

According to a PTI report, MakeMyTrip, the parent firm of India's largest online travel company MakeMyTrip India, has fixed the price of its initial public offer (IPO) at USD 14 per share. The company is offering 50 lakh shares in the US market and expects to mop-up USD 70 million.

StarCite ties up with IHG

StarCite, provider of web-based solutions, has tied up with InterContinental Hotels Group (IHG). It will provide promotional opportunities to the Holiday Inn, InterContinental and Crowne Plaza brands, besides providing the technology required for StarCite e-request for proposals, or e-RFPs, to populate directly into each hotel's lead distribution system which will aid in expediting the sales response back to StarCite corporate clients.

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