Speciality Restaurants has been allotted an Initial Public Offering (IPO) grade of ‘4/5' to the proposed IPO by CRISIL. The grade reflects Speciality’s strong foothold in the fine-dining restaurant segment in India with 73 restaurants and confectioneries under 11 brands spread across 17 cities in India and one in Dhaka, Bangladesh.
Interstate Hotels & Resorts, the United States’ largest independent hotel management company, has recently announced that JHM Interstate Hotels India, a 50/50 joint venture management company between Interstate and JHM Hotels, has signed a contract to manage the Ramada Hotel in Alleppey, Kerala, India.
Realty firm Parsvnath Hotels Limited (PHL) has tied-up with Choice Hotels to foray into the budget hotel segment. PHL plans to open 20-25 properties across India in the next two years with these properties, which are currently under various stages of development.