Mumbai, June 30 The RPG Group-promoted Spencer’s Retail would be entering into a joint venture with a US-based bakery café chain and setting up stand alone stores under its brand name………..
Read the full story click the following link
http://www.thehindubusinessline.com/2008/07/01/stories/2008070151081200.htm
Monday, June 30, 2008
Goldman to launch Four Seasons in B'lore
The Economic Times dt 1 July 2008
GOLDMAN Sachs is believed to be investing around $80 million (over Rs 320 crore) in a joint venture with Dubai developer ETA to launch luxury Four Seasons hotel in Bangalore. Microsoft founder Bill Gates and Saudi prince Alwaleed bin Talal-owned Four Seasons has unveiled aggressive expansion plans in India, even as fears of a slowdown in hospitality sector are being raised.
Goldman Sachs is expected to hold a majority stake—up to 76%, but this could not be confirmed—in the JV estimated at about $150 million, including debt. The deal marks one of the biggest PE plays in a single hospitality project in the country.
Sources said Goldman Sachs will be financing bulk of the project through a combination of equity and debt. ETA owns 4 acre adjacent to Mekhri circle, a mid-point between the city and the recently-opened greenfield airport. Further details of the project could not be ascertained. A formal announcement on the JV is expected soon.
Last year, Citigroup said it was investing in a joint development with Nitesh Estates for India’s first Ritz Carlton property in Bangalore, expected to be completed by June 2010, signaling PE interest in highend luxury hospitality segment.
Four Seasons spokesperson said: “We are looking at various properties across India, and Bangalore is one of them. Currently, we can’t say much as no official details have been announced.” The Canadian hospitality giant, which manages 74 luxury hotels across the globe, agreed early this year to be taken private for $3.8 million by Bill Gates, prince Alwaleed bin Talal and Four Seasons chairman & CEO Isadore Sharp. In India, Four Seasons has identified six locations in metros and tier-I cities. It is looking at a mix of management contracts and equity investments. “We are very optimistic about the Indian market having a sustained period of growth. We are planning with a long-term vision,” Mr Sharp had said ET.
Goldman’s interest in the project comes even as inflationary pressures and economic slowdown are believed to be impacting India’s hospitality sector in recent times. But, sources said, the luxury segment may remain insulated for the time being at least.
Four Seasons recently opened the 202-room hotel in South Mumbai, and is working on projects in Gurgaon, Hyderabad and Kerala. It is also looking to set up a resort hotel in Goa. Though BRIC countries are not contributing significantly to the Four Seasons kitty, the rate of development and growth, said Mr Sharp, in the next few years would grow substantially.
Founded in 1960, Four Seasons has followed a targeted course of expansion, opening hotels in major city centres and destinations around the world. Currently Four Seasons has 75 hotels in 31 countries.
GOLDMAN Sachs is believed to be investing around $80 million (over Rs 320 crore) in a joint venture with Dubai developer ETA to launch luxury Four Seasons hotel in Bangalore. Microsoft founder Bill Gates and Saudi prince Alwaleed bin Talal-owned Four Seasons has unveiled aggressive expansion plans in India, even as fears of a slowdown in hospitality sector are being raised.
Goldman Sachs is expected to hold a majority stake—up to 76%, but this could not be confirmed—in the JV estimated at about $150 million, including debt. The deal marks one of the biggest PE plays in a single hospitality project in the country.
Sources said Goldman Sachs will be financing bulk of the project through a combination of equity and debt. ETA owns 4 acre adjacent to Mekhri circle, a mid-point between the city and the recently-opened greenfield airport. Further details of the project could not be ascertained. A formal announcement on the JV is expected soon.
Last year, Citigroup said it was investing in a joint development with Nitesh Estates for India’s first Ritz Carlton property in Bangalore, expected to be completed by June 2010, signaling PE interest in highend luxury hospitality segment.
Four Seasons spokesperson said: “We are looking at various properties across India, and Bangalore is one of them. Currently, we can’t say much as no official details have been announced.” The Canadian hospitality giant, which manages 74 luxury hotels across the globe, agreed early this year to be taken private for $3.8 million by Bill Gates, prince Alwaleed bin Talal and Four Seasons chairman & CEO Isadore Sharp. In India, Four Seasons has identified six locations in metros and tier-I cities. It is looking at a mix of management contracts and equity investments. “We are very optimistic about the Indian market having a sustained period of growth. We are planning with a long-term vision,” Mr Sharp had said ET.
Goldman’s interest in the project comes even as inflationary pressures and economic slowdown are believed to be impacting India’s hospitality sector in recent times. But, sources said, the luxury segment may remain insulated for the time being at least.
Four Seasons recently opened the 202-room hotel in South Mumbai, and is working on projects in Gurgaon, Hyderabad and Kerala. It is also looking to set up a resort hotel in Goa. Though BRIC countries are not contributing significantly to the Four Seasons kitty, the rate of development and growth, said Mr Sharp, in the next few years would grow substantially.
Founded in 1960, Four Seasons has followed a targeted course of expansion, opening hotels in major city centres and destinations around the world. Currently Four Seasons has 75 hotels in 31 countries.
Saturday, June 28, 2008
Hampshire to develop 2 hotels in Kochi
Courtesy: http://www.indianrealtynews.com/real-estate-india/hampshire-hotels-to-develop-2-new-projects-in-kochi.html
Hampshire Hotels and Resorts (HHR), owned by the NRI Sant Singh Chatwal, is developing two properties in Kochi, one of which is in a privately owned island in the heart of the city. Sources told FE that the island property would be developed jointly with its owners, a Kochi based architect firm, which had forayed unsuccessfully into real estate business way back in 90s.
Spread over 50 acres, the island also has the distinction of having necessary infrastructure connecting it to the mainland. Sources further said that the island hotel could be in the seven star super luxury categories. HHR sources from Bangalore refused to comment on the development but confirmed that they are looking for more than one property in the city.
Meanwhile, HHR has taken over a completed but not functioning property hardly one kilometer away from the island. The 150-room hotel owned formerly by Middle East Hotels (P) Ltd. will be refurnished before its launch in October, sources said. The hotel project was languishing for many months after its completion because of internal squabbles between its NRI directors, sources said.
“The hotel will be in the five star premium category under the Hampshire Plaza brand with multi-cuisine restraints and other amenities,” sources said.
HHR, which owns luxury boutique brands ‘Dream’ and ‘Night’ is looking to develop new brands in the Indian market to be introduced worldwide. It had earlier been reported that the company would pump in Rs 4,500 crore by 2009 for setting up a chain of hotels, including super luxury hotels in India. The super luxury brand to be launched would have 300 rooms and the group intends to create convention centers in every hotel.
Hampshire Hotels and Resorts (HHR), owned by the NRI Sant Singh Chatwal, is developing two properties in Kochi, one of which is in a privately owned island in the heart of the city. Sources told FE that the island property would be developed jointly with its owners, a Kochi based architect firm, which had forayed unsuccessfully into real estate business way back in 90s.
Spread over 50 acres, the island also has the distinction of having necessary infrastructure connecting it to the mainland. Sources further said that the island hotel could be in the seven star super luxury categories. HHR sources from Bangalore refused to comment on the development but confirmed that they are looking for more than one property in the city.
Meanwhile, HHR has taken over a completed but not functioning property hardly one kilometer away from the island. The 150-room hotel owned formerly by Middle East Hotels (P) Ltd. will be refurnished before its launch in October, sources said. The hotel project was languishing for many months after its completion because of internal squabbles between its NRI directors, sources said.
“The hotel will be in the five star premium category under the Hampshire Plaza brand with multi-cuisine restraints and other amenities,” sources said.
HHR, which owns luxury boutique brands ‘Dream’ and ‘Night’ is looking to develop new brands in the Indian market to be introduced worldwide. It had earlier been reported that the company would pump in Rs 4,500 crore by 2009 for setting up a chain of hotels, including super luxury hotels in India. The super luxury brand to be launched would have 300 rooms and the group intends to create convention centers in every hotel.
It's pouring 5-star hotels in Kerala
The Economic Times dt..27.06.2008
PK Krishnakumar KOCHI
WITH MANY big-ticket projects underway, there seems to be a five-star hotel boom in Kerala, particularly in Kochi. Projects like SmartCity, ICTT at Vallarpadam, Petronet LNG terminal and Vizhinjam container terminal which is slated to come up in the state have increased the opportunities for more hotel outlets. A slew of five-star hotels by various groups are being planned or are in various stages of construction. Most of the hotel projects are being planned in Kochi, the commercial capital of the state. Interestingly, it is mainly the business groups in the Gulf which are setting up these hotel projects. The Rs 500-crore Holiday Group with diverse business interests in UAE is the latest to join the bandwagon. The group is planning not one, but five five-star luxury hotels in Kerala. Group chairman CC Thampi told ET that the first one at Bekkal in Kasargod would become operational by 2009. With the Centre having given in-principle nod for an airport at Kannur, Bekkal could become a busy tourist hot spot. The next in line for the group is Kumarakom where it has completed the land acquisition procedures. Other hotels are expected to come up probably near the Cochin Airport at Nedumbassery, Kovalam and Thiruvananthapuram. The construction of the Rs 220-crore five-star deluxe hotel of the Kuwait-based KGA group is under construction in Kochi. The hotel with 210 rooms will be managed by Crowne Plaza of Intercontinental Group. Leading furniture brand Indroyal has also tied up with Intercontinental Group for a Rs 100-crore hotel project in Kochi. The hotel, to be known under the brand ‘Holiday Inn’, will have 253 rooms and 30 luxury suites. Indroyal group chairman Sugathan claims hopes that this hotel will be the tallest in South India with 22 storeys. The UAE-based EMKE group has zeroed in on Kochi to start its popular Lulu hypermarket along with a convention centre and a fivestar hotel. The project is in the construction stage. The group already has started a state-of-the-art convention centre in Thrissur. The other big hotel projects in the pipeline are by Ramda, Mini Muthoot through a tieup with Four Seasons, Amrapali Builders and Shobha group. Of these, except Mini Muthoot, which is setting up the hotel at Cherthala, the others have plans to construct the hotels in Kochi.
PK Krishnakumar KOCHI
WITH MANY big-ticket projects underway, there seems to be a five-star hotel boom in Kerala, particularly in Kochi. Projects like SmartCity, ICTT at Vallarpadam, Petronet LNG terminal and Vizhinjam container terminal which is slated to come up in the state have increased the opportunities for more hotel outlets. A slew of five-star hotels by various groups are being planned or are in various stages of construction. Most of the hotel projects are being planned in Kochi, the commercial capital of the state. Interestingly, it is mainly the business groups in the Gulf which are setting up these hotel projects. The Rs 500-crore Holiday Group with diverse business interests in UAE is the latest to join the bandwagon. The group is planning not one, but five five-star luxury hotels in Kerala. Group chairman CC Thampi told ET that the first one at Bekkal in Kasargod would become operational by 2009. With the Centre having given in-principle nod for an airport at Kannur, Bekkal could become a busy tourist hot spot. The next in line for the group is Kumarakom where it has completed the land acquisition procedures. Other hotels are expected to come up probably near the Cochin Airport at Nedumbassery, Kovalam and Thiruvananthapuram. The construction of the Rs 220-crore five-star deluxe hotel of the Kuwait-based KGA group is under construction in Kochi. The hotel with 210 rooms will be managed by Crowne Plaza of Intercontinental Group. Leading furniture brand Indroyal has also tied up with Intercontinental Group for a Rs 100-crore hotel project in Kochi. The hotel, to be known under the brand ‘Holiday Inn’, will have 253 rooms and 30 luxury suites. Indroyal group chairman Sugathan claims hopes that this hotel will be the tallest in South India with 22 storeys. The UAE-based EMKE group has zeroed in on Kochi to start its popular Lulu hypermarket along with a convention centre and a fivestar hotel. The project is in the construction stage. The group already has started a state-of-the-art convention centre in Thrissur. The other big hotel projects in the pipeline are by Ramda, Mini Muthoot through a tieup with Four Seasons, Amrapali Builders and Shobha group. Of these, except Mini Muthoot, which is setting up the hotel at Cherthala, the others have plans to construct the hotels in Kochi.
Wednesday, June 25, 2008
Hilton to open 300 hotels in Asia
Hilton to open 300 Hotels in Asia
( The Business Standard dt.26.06.08)
Synopsis of the report
Hilton Hotels corporation plans to open 300 hotels across Asia by 2017 mainly in India & China, to tap booming travel demand…….It will open 75 Hotels in India within next five to seven years and “that could be exceeded” Faith Thomas…Hilton will collaborate with DLF, India’s biggest property developer, its Indian JV Partner
The first hotel is expected to open in November.. Hilton currently 47 Hotels in Asian and none in India.
Blue Foods to double it restaurant Chain
(The Economic Times dt.25.06.08)
Synopsis of the report:
Mumbai based Blue Foods which owns 17 restaurant brands including Copper Chimeny, Noodle Bar, Spaghetti Kitchen and Cream Centre plans to double its restaurant count in the next financial year from the current 100…
( The Business Standard dt.26.06.08)
Synopsis of the report
Hilton Hotels corporation plans to open 300 hotels across Asia by 2017 mainly in India & China, to tap booming travel demand…….It will open 75 Hotels in India within next five to seven years and “that could be exceeded” Faith Thomas…Hilton will collaborate with DLF, India’s biggest property developer, its Indian JV Partner
The first hotel is expected to open in November.. Hilton currently 47 Hotels in Asian and none in India.
Blue Foods to double it restaurant Chain
(The Economic Times dt.25.06.08)
Synopsis of the report:
Mumbai based Blue Foods which owns 17 restaurant brands including Copper Chimeny, Noodle Bar, Spaghetti Kitchen and Cream Centre plans to double its restaurant count in the next financial year from the current 100…
Medi-tourism booster shot for hospitality biz
Medi-tourism booster shot for hospitality biz
The Economic Times dt.19/6/06
MILKING A COW: Indian Hospitality Sector Is Waking Up To The Revenue Potential Of Medical Tourism
By Nidhi Gupta BANGALORE
ROBIN Cook might dismiss Indian medical tourism as ‘that Indian nonsense’ in his latest novel, but the Rs 1,450-crore sector that is growing by 30% every year, according to a recent study by CII and McKinsey, is now another reason for India being an outsourcing hub.
However, the Indian hospitality sector and the tourism ministry are only now waking up to the potential of the sector, says B Arun Kumar, CEO of the healthcare brokering company Mediescapes. “Out of the 20-odd big hospitals involved, only 3 or 4 have tie-ups with the hospitality sector for accommodation of their international patients,” he points out. The revenue from medical tourism do not constitute a very major percentage of revenue for hotels as of now, but are inclined to grow, says PR Ramesh, CEO of Aarex India, another health care broker.
India is increasingly becoming a hot destination because of its efficient and economical health care sector, which affords up to 60% savings for the patient, says Kumar. “But what really puts the ball in India’s court is that the waiting period is lesser and it provides better options than referrals back home,” he says. In fact more countries are waking up to India’s potential now. “Today, people from the likes of Australia, Germany, New Zealand, French-speaking African countries are choosing India over home-bound options and the so-called developed countries,” says Mr Ramesh.
With a package consisting of the chosen medical surgery, airfare, accommodation and some travel, coming up to $14,000, at the higher end, it is no surprise that India is being preferred over even Thailand and other South Asian countries, he says.
A point in case of the tie up between the medical and hospitality sectors, is Wockhardt’s agreement with Brigade Hospitality in Bangalore. “The majority of our patients come in from USA and Canada, for serious medical care like cardiac or orthopedic surgeries,” says Pradeep Thakaral, head of international business for Wockhardt Hospitals. “There is a minimum recuperation period for which the patient needs to stay in the country after the surgery and it is not possible to accommodate them in the hospitals,” he adds. A patient having undergone knee surgery, for example, is accommodated for a week in Brigade’s Woodrose Club, which is ideal, they say, because of its ambience, cost and proximity. “We have packages of about $1000 for a week for complete accommodation for two people at Woodrose Club,” says Vineet Verma, CEO of Brigade Hospitality. Overseas patients constitute about 7-10% of their revenues per year, with 350 room nights. “We are looking to take up more such initiatives with Columbia Asia hospital in Malleshwaram also,” he adds.
With approximately 12,000 overseas patients every year, medical tourists constitute 15% of Apollo Hospitals’ customer base and contribute 20% to their revenues.
We promote health tourists through overseas associations, medical travel companies and our website. Packages vary from procedure to procedure but are competitive,” says Anil K Maini, president corporate development (domestic & international marketing). “Many hospitals have tie-ups with first class hotels and the service apartment sectors, and provide options to their clients, depending on their budgets,” says Mr Kumar. Keeping in mind the expectations of international clients and the relatively lower cost of living compared to developed countries, it is desirable that the industry biggies work to tap a greater share of the market.
“The ministry for tourism is also aggressively promoting medical tourism in the Incredible India campaign,” Mr Kumar adds. But tourism here implies recuperative, easy holidays that involves staying at resorts and generally relaxing for a few days. “Even though India is at par with any other country as far as medical facilities are concerned, basic infrastructure needs to be developed for India to become the most coveted destination,” says Nandakumar Jairam, chairman and medical director for Columbia Asia Hospital. The sector might contribute Rs 5,000 - Rs 10,000 crore additional revenue by 2012. It will account for 3-5% of the total healthcare delivery market, the CII study says.
The Economic Times dt.19/6/06
MILKING A COW: Indian Hospitality Sector Is Waking Up To The Revenue Potential Of Medical Tourism
By Nidhi Gupta BANGALORE
ROBIN Cook might dismiss Indian medical tourism as ‘that Indian nonsense’ in his latest novel, but the Rs 1,450-crore sector that is growing by 30% every year, according to a recent study by CII and McKinsey, is now another reason for India being an outsourcing hub.
However, the Indian hospitality sector and the tourism ministry are only now waking up to the potential of the sector, says B Arun Kumar, CEO of the healthcare brokering company Mediescapes. “Out of the 20-odd big hospitals involved, only 3 or 4 have tie-ups with the hospitality sector for accommodation of their international patients,” he points out. The revenue from medical tourism do not constitute a very major percentage of revenue for hotels as of now, but are inclined to grow, says PR Ramesh, CEO of Aarex India, another health care broker.
India is increasingly becoming a hot destination because of its efficient and economical health care sector, which affords up to 60% savings for the patient, says Kumar. “But what really puts the ball in India’s court is that the waiting period is lesser and it provides better options than referrals back home,” he says. In fact more countries are waking up to India’s potential now. “Today, people from the likes of Australia, Germany, New Zealand, French-speaking African countries are choosing India over home-bound options and the so-called developed countries,” says Mr Ramesh.
With a package consisting of the chosen medical surgery, airfare, accommodation and some travel, coming up to $14,000, at the higher end, it is no surprise that India is being preferred over even Thailand and other South Asian countries, he says.
A point in case of the tie up between the medical and hospitality sectors, is Wockhardt’s agreement with Brigade Hospitality in Bangalore. “The majority of our patients come in from USA and Canada, for serious medical care like cardiac or orthopedic surgeries,” says Pradeep Thakaral, head of international business for Wockhardt Hospitals. “There is a minimum recuperation period for which the patient needs to stay in the country after the surgery and it is not possible to accommodate them in the hospitals,” he adds. A patient having undergone knee surgery, for example, is accommodated for a week in Brigade’s Woodrose Club, which is ideal, they say, because of its ambience, cost and proximity. “We have packages of about $1000 for a week for complete accommodation for two people at Woodrose Club,” says Vineet Verma, CEO of Brigade Hospitality. Overseas patients constitute about 7-10% of their revenues per year, with 350 room nights. “We are looking to take up more such initiatives with Columbia Asia hospital in Malleshwaram also,” he adds.
With approximately 12,000 overseas patients every year, medical tourists constitute 15% of Apollo Hospitals’ customer base and contribute 20% to their revenues.
We promote health tourists through overseas associations, medical travel companies and our website. Packages vary from procedure to procedure but are competitive,” says Anil K Maini, president corporate development (domestic & international marketing). “Many hospitals have tie-ups with first class hotels and the service apartment sectors, and provide options to their clients, depending on their budgets,” says Mr Kumar. Keeping in mind the expectations of international clients and the relatively lower cost of living compared to developed countries, it is desirable that the industry biggies work to tap a greater share of the market.
“The ministry for tourism is also aggressively promoting medical tourism in the Incredible India campaign,” Mr Kumar adds. But tourism here implies recuperative, easy holidays that involves staying at resorts and generally relaxing for a few days. “Even though India is at par with any other country as far as medical facilities are concerned, basic infrastructure needs to be developed for India to become the most coveted destination,” says Nandakumar Jairam, chairman and medical director for Columbia Asia Hospital. The sector might contribute Rs 5,000 - Rs 10,000 crore additional revenue by 2012. It will account for 3-5% of the total healthcare delivery market, the CII study says.
Holiday Group to Invest 1000 crore
Kochi, June 20 The UAE-based Holiday Group has proposed to invest Rs 1,000 crore over a period of five years in infrastructure, housing and hospitality projects in the State.
The group has already commenced construction of a 5 star hotel in Bekkal in Kasargod, Kerala. Group is also planning to set up hotels in Kumarakam, Kochi and Thriruvanandapuram
……for more details click the following link
http://www.thehindubusinessline.com/2008/06/21/stories/2008062152172100.htm
The group has already commenced construction of a 5 star hotel in Bekkal in Kasargod, Kerala. Group is also planning to set up hotels in Kumarakam, Kochi and Thriruvanandapuram
……for more details click the following link
http://www.thehindubusinessline.com/2008/06/21/stories/2008062152172100.htm
30 Budget Hotels to come up in AP..
HYDERABAD: The State Tourism Promotion Board (STPB) has decided to build as many as 30 budget hotels at the tourist-spots in the 22 districts other than Hyderabad (Urban).... The Hindu Report dt.25/6/08
Click the following link for news in detail
http://www.thehindu.com/2008/06/25/stories/2008062560110400.htm
Click the following link for news in detail
http://www.thehindu.com/2008/06/25/stories/2008062560110400.htm
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