Sahara Group to acquire New York's Plaza Hotel: report
Sahara Group is planning to buy New York's landmark Plaza Hotel for $570 mn, according to reports.
Reports stated that the deal for the Plaza, the 105-year-old luxury hotel near New York's Central Park, is expected to be announced by the end of this month.
The Plaza is jointly owned by Elad Properties, an Israeli-owned real estate company, and Saudi-based Kingdom Holdings Co 4280.SE, says report.
Hotel tariffs may fall by 2-3%; FH&RAI
The apex body of hotel and restaurant associations, Federation of Hotel and Restaurant Associations of India (FH&RAI) has affirmed that the hotel tariffs may go down by 2 to 3%, if the infrastructure status demand made by FHRAI in its post-budget memorandum submitted to the Government, is extended to below three star hotel categories and the threshold of location outside cities with population of more than one million is removed, in the near future.
FH&RAI had been demanding the status of infrastructure industry from the Union Government for a longtime which was granted under Master List of Infrastructure sub-sectors under Annexure I, item number 5 of the Harmonized list of Infrastructure Sub-sectors by the Cabinet Committee on Infrastructure. But it came with a rider of building only Three-star or higher category classified hotels which are located outside cities with population of more than one million.
The normal lending rates of the banks are 12-13% for a period of 5-7 years. “Infrastructure status to hospitality industry under the RBI's Infrastructure lending list would mean bank loan repayment periods will be extended to 10 -15 years and the interest rate would settle around 3-4% compared to 12-13% now. When interest rates will come down, more in tune with international hotel lending rates, it would translate into our input costs getting lowered. If the interest burdens are reduced, tariffs may come down by 2-3%.” he said.
Navin Suchanti, CEO and Managing Director, Sinclairs Hotels Limited
Tripadvisor announces India’s only Travel Price Index for summer 2012
TripAdvisor, the world’s largest travel site launched the second edition of its annual TripIndex, a travel price index of 48 key international tourist cities, major Indian metropolitan cities and popular holiday spots in India. The index helps travellers determine the cost for an evening out for two people in these destinations.
TripIndex tracks the cost for travellers of one night’s accommodation, a pre-meal drink, dinner and a taxi ride in each city.
According to Nikhil Ganju, Country Manager TripAdvisor (India) “With a depreciating Rupee, unrelenting inflation, skyrocketing airfares & an economic slowdown, Indian travellers have good reason right now to be concerned while they budget for their travel. TripIndex can help travellers; especially those who are budget conscious, with a quick & useful reference to decide on their holiday destination”.
International TripIndex : Around the World these Rupee days
Ahead of the Olympics, London (UK) bags the top spot as most expensive city in the international list followed by Oslo (Norway) & Zurich (Switzerland) this summer with a TripIndex cost of Rs. 28,879 nearly 4 times more expensive than Hanoi, Vietnam which emerges as the cheapest with a TripIndex cost of Rs. 7858.72. With seven out of the ten most expensive international cities in Europe, it emerges at the costliest continent to visit. Southeast Asia is the cheapest region, with four out of the cheapest ten cities from SEA.
Cheapest Hotel: Hotels in Bangkok are the cheapest stay with an average hotel room cost of Rs. 4519.9. London accommodation is more than four times that amount with an average hotel room cost of Rs. 20,148.77.
Cheapest Taxi Ride: A two mile return taxi fare in Oslo can set you back by `2920 while the same distance in Beijing is a meagre `95.75.
Cheapest Dinner: Travellers need to dish out eight times the money for a dinner for two in Oslo against a comparable meal in Hong Kong.
Cheapest Cocktail: Think twice before you raise a toast in Paris, which is the most expensive city to grab a martini for two with a cost of Rs. 3210.10. The same cocktail is over 5 times cheaper in Bangkok at Rs. 526.3.
DLF's hotel arm sells Adone Hotels for Rs. 5.67bn
DLF Ltd. has informed that the Company’s wholly-owned subsidiary, DLF Hotel Holdings Ltd., has divested its entire shareholding in Adone Hotels and Hospitality Ltd. (Adone) for Rs. 5.67bn.
Accordingly, Adone and its wholly-owned subsidiary, Marala Real Estate Pvt. Ltd., ceased to be subsidiaries of the Company.
The above transaction is in line with the DLF’s stated objective of divesting its non-strategic assets.
Delta Corp buys land in Colombo for 4/5 star property
India's largest Gaming Company, Delta Corp Ltd., through its wholl
y owned subsidiary, Delta Hotels Lanka Pvt. Ltd., has initiated the first steps towards development of a 4/5 star fully integrated entertainment hotel/resort complex in Sri Lanka.
Towards this end, Delta Corp has acquired an 11 acre land parcel near Bandaranaike International Airport, located in Katunayake, Colombo, Sri Lanka where its intends to develop the hotel/resort.
Sri Lanka, post the end of the 3 decade long civil war, is now witnessing a tourism and industrialization boom. Delta Corp hopes to have an early mover advantage and be part of this growth.
Delta Corp is the largest gaming company in India and the only listed company in this space. The Company is an early entrant in this space and has attained a leadersliip position in a short span of time.
MakeMyTrip appoints Amit Saberwal as Chief Business Officer, International Markets
Amit Saberwal has been appointed as Chief Business Officer, International Markets for MakeMyTrip, India’s leading travel Company. In this newly-created position, Amit will concentrate on expanding MakeMyTrip operations and enhancing customer experience in international markets. He will also continue to lead the Hotels business for the Company, a role that he has been managing for past several years.
Deep Kalra, CEO and Founder, MakeMyTrip said, "As we move into the next phase of our evolution, we are aggressively focused on ramping up our presence in International markets. This newly-created position will help us identify and capitalize on partnerships that get us closer to consumers, suppliers and travel technology players in overseas locations. Amit (or Saber as he is affectionately called) is a proven leader and we look forward to his achievements in this new role."
Lenders give approval to Hotel Leelaventure's debt restructuring: reports
The lenders has given the nod to Hotel Leelaventure's Rs43bn debt restructuring, according to reports.
Reports stated that the promoters of the company, owned by the Nair family, are expected to bring in Rs1.50bn, which they hope to raise from the sale of non-core real estate
Earlier company reportedly said that it was selling its Kovalam property for Rs5bn, though it to plans manage the property under the Leela brand under a management contract.
Hilton New Delhi/Janakpuri has announces Dhaba Food Festival at Zune
Hilton New Delhi / Janakpuri announced a Dhaba Food Festival at Zune, the Indian specialty restaurant. From June 16 – 30, 2012, guests at the hotel will be able to savour authentic flavours of Dhaba cuisine with snapshots of rural India.The Dhaba Food Festival, available from 7:30 pm - 11:30 pm daily, will include the best choice of lip-smacking highway-style innovative yet traditional culinary delights at affordable prices. The sumptuous menu will feature signature dishes such as Lawrence Road Ki Tikki, Paneer Tikka Makhani, Pindi Cholley, Highway Chicken Tikka, Dhaba Meat Curry and Kadhai Murgh. The décor of the restaurant will reflect the colourful spirit of Dhaba culture.
“The special menu will offer guests the opportunity to explore the cuisine’s more popular dishes, made the traditional way”, said Rubal Chaudhary, general manager, Hilton New Delhi / Janakpuri.
For reservations please call the hotel directly at 011 4123 4123.
San Francisco Travel Association releases 2011 economic impact figures
The San Francisco Travel Association reported that San Francisco welcomed 16.35mn visitors in 2011, an increase of 2.7 percent from 2010. These visitors spent $8.46 billion in 2011, up 9.8% from the previous year.
The tourism industry generated $526mn in taxes for
the City of San Francisco, up 8.6 percent from the previous year. Tourism supported 71,403 jobs in 2011 with an annual payroll of $2.06 billion. In 2011, there was an average of 129,499 visitors in San Francisco each day. Visitor spending equated to $23.19mn daily (including spending related to meetings and conventions).
“Our economic recovery continues but we have a ways to go,” said Joe D'Alessandro, San Francisco Travel president and CEO. "We can look forward to the events of this year that will drive significant leisure travel as well as the strong convention bookings to keep the momentum going.”
TripAdvisor wins Top Businesses in Asia Pacific with 2012 Certificate of Excellence
TripAdvisor, the world's largest travel site announced that it is awarding highly-rated accommodations, restaurants and attractions with the 2012 Certificate of Excellence Award. The accolade, which honours hospitality excellence, is given only to establishments that consistently achieve outstanding traveller reviews on TripAdvisor, and is extended to qualifying businesses worldwide. Approximately 10 percent of accommodations listed on TripAdvisor receive this prestigious award.
To qualify for the Certificate of Excellence, businesses must maintain an overall rating of four or higher, out of a possible five, as reviewed by travellers on TripAdvisor. Additional criteria include the volume of reviews received within the last 12 months.
InterContinental Hotels opens two new generation properties
InterContinental Hotels Group (IHG) has announced the opening of two new generation properties, Holiday Inn London Stratford City and Staybridge Suites London Stratford City, at the heart of Europe’s largest shopping centre, Westfield Stratford City.
The two hotels are owned by a Joint Venture between Cycas Hotel Partners and Patron Capital. The hotels are operated by Cycas Hospitality under a franchise agreement with IHG. Located in a single building in Chestnut Plaza next to the London 2012 Olympic Park, the hotels benefit from excellent transport links nearby including Stratford International Rail Station, Underground and DLR.
Visitors will be able to experience the area that will play host to the London 2012 Olympic and Paralympic Games from both hotels, which are ideally situated for business or leisure guests. Direct access to the Westfield Shopping Centre and fast Tube and DLR links to central London and Canary Wharf will ensure guests are within easy reach of the many attractions of the West End, The City, palaces and museums.
Visit California expands suite of digital resources for Consumers, Media & Travel Trade
Douglass Martell named V-P, Operations, S-W Asia, InterContinental Hotels
Hong Kong Tourism Board announces new marketing campaign
Get hooked on Sea of Flavours at Singapore Food Festival 2012!