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CRISIL allots IPO grade of 4/5 to Speciality Restaurants

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 announces sixth management contract in India

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.

Parsvnath Hotels Limited forays into budget segment, ties up with Choice Hotels

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.

2 brands debuting in Netherlands

The Park Inn by Radisson and Waldorf Astoria brands are set to enter the Netherlands.

Turkish hotels collapse in earthquake

A 5.6-magnitude earthquake in Van, Turkey caused the collapse of several buildings including two hotels.

Armani debuts in Milan

The Armani Hotel Milano — the second hotel to be launched within the Armani Hotels & Resorts project, following the Armani Hotel Dubai — has opened in Milan, Italy, within the palazzo at Via Manzoni 31.