New York-based investment firm Berggruen Holdings Inc., which owns the Keys hotel chain in India, plans to invest $30 million (around Rs200 crore) to expand its presence in the country. Berggruen Holdings has so far invested $80 million in Berggruen Hotels Pvt. Ltd, which operates only in India.
As a mark of disagreement with the exorbitant tax rates under the much-awaited Goods and Services Tax (GST) Bill to be rolled out on July 1, hotels and restaurants across Tamil Nadu will observe a one-day shutdown on May 30.
Paytm, which recently raised $1.4 billion from SoftBank, is set to challenge existing players in the space of movie ticketing, travel and hotels, offering deep discounts to lure customers.