Hotels and restaurants remained closed on the first day of the three day strike called by the Confederation of All India Traders (CAIT) and hotel and restaurant owners, against the new act passed by the Food Safety and Standards Authority of India (FSSAI) in Bhopal. Business worth Rs 150 crore was hit in the state capital. The bandh was also supported by grocery stores and supermarkets.
Around hundred bars have been permanently closed in Mumbai due to poor sales and rising costs, which according to the owners, led to ‘very low’ profit margins. According to AHAR (Indian Hotel and Restaurants' Association) president Sudhakar Shetty, 56 permit rooms in suburban Mumbai and around 45 in the island city have shut shop. "Another 50 may follow suit.
JSM Corp which operates and owns the Indian franchises of brands like Hard Rock Café and California Pizza Kitchen, is in separate talks with two private equity (PE) funds, Carlyle Group and Sequoia Capital, according to sources close to the matter. The two PE players are looking at investing between $40 million to $50 million in the company. Premji Invest, the venture capital arm of Indian software services exporter Wipro, and New Silk Route, an Asia-focused private-equity firm, are also in talks to buy a "significant minority holding" in the company, said the sources, who declined to be named as the discussions are not yet public. JSM Corp is looking to raise capital to expand its networks and operations, the two sources said.
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A white paper released by global hospitality consulting and services firm HVS in collaboration with World Travel & Tourism Council recently said India will need overall investment of $25.5 billion for constructing 180,000 additional hotel rooms over the next 10 years. According to Kaushik Vardharajan, Managing Director, HVS Hospitality Services India, sourcing capital for these developments will be a challenge. “We are of the opinion that only 60% of these guest rooms will actually get constructed within the stipulated timeframe,”
India Hospitality Corp, the owner of Mumbai eateries Jazz by the Bay and All Stir Fry, has bought UK's Adelie food group, which supplies quiches, salads, sandwiches and assorted ready-to-eat food to retail chains such as Starbucks coffee and Sainsbury's supermarkets, for $350 million from PE firm Duke Street Capital. The transaction,
Five-star hotels are stocking their bars with private labels of rare whiskies and fine wines, pushing the indulgence of wealthy clients . They are creating bespoke single malts and are handcrafting wines for a luxury drink. And some are even private labelling the Goan country liquor Feni for a heady mix in their exclusive bars. The Leela chain of hotels and resorts plans to debut this August with custom-designed wines - collections of cabernet sauvignon, merlot, chardonnay and sauvignon blanc - procured from California , Italy and Australia. The Lalit would launch its own label of Feni - a local coconut or cashew based drink - at its 255-room Goa property . The Taj and ITC hotels are building their private malt portfolio even as other chains like Park and Oberoi are exploring the high-margin private label business. The luxury hotels can import spirits and wines without local levies in exchange for their foreign exchange earnings, making private label a compelling business proposition.
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eZeeCLOUD Infoserves Pvt. Ltd, a fully-owned subsidiary of eZeeCLOUD Global Pvt. Ltd. Singapore, today launched a technology ecosystem for the travel and hospitality sector. The company has launched two B2C portals, packago.com and hoteldealtonight.in, a B2B portal, travelCorp360.com,
Franchise Direct, an online portal has released its fourth-annual rankings of the top 100 franchises in the world. These rankings assess the most successful franchises operating on an international level. As per a release, for the second year in a row,
NEWS | Americas Best Value Inn Continues Exceptional Growth Pace with 35 New Member Hotels in First Quarter
Hotel owners seeking more revenue and global resources, and the ability to be in business for themselves, not by themselves continue to discover Americas Best Value Inn®, as the world's 10th largest hotel brand added 35 properties to the system during the first quarter of 2012. Americas Best Value Inn added locations in 22 states, including five in California and three apiece in Texas and Michigan, as well as popular destinations such as Greensboro, NC; and Columbus,
Starwood Hotels & Resorts Worldwide, Inc. is pleased to announce the opening of The Westin Xian, marking the entry of the Westin brand into the Shaanxi province of China and one of the four major ancient civilizations in the world, along with Athens, Cairo and Rome. A haven for rest and relaxation, The Westin Xian is located just steps away from the ancient city"s myriad cultural attractions,
Rezidor opened four new hotels with close to 1,000 rooms, and contracted six new hotels with over 1,400 rooms, in the first quarter of 2012. The new hotels include the company's very first projects in the African countries of Guinea and Gabon Rezidor: 1,000 new rooms opened and 1,400 rooms signed in Q1 2012 In the first quarter, Rezidor pursued its long term development strategy
IHG (InterContinental Hotels Group) today unveiled the world"s largest Holiday Inn, the 1,224-room Holiday Inn Macao Cotai Central, with the opening of Sands Cotai Central, the latest Sands China Ltd. integrated resort on Macao"s Cotai Strip.