Indian Hotels may increase buyout offer for Orient-Express Hotels: reports
Indian Hotels Co. and a fund controlled by Italy's Montezemolo & Partners SpA may increase their buyout offer for Orient-Express Hotels Ltd., according to reports.
Reports stated that the higher bid would be an attempt to entice major shareholders of the Bermuda-based luxury property operator, the executive said.
Earlier this month, the board of Orient-Express rejected Indian Hotels' unsolicited offer saying in a letter that it was "deeply unattractive from a financial perspective."
Investors scout for Singapore and Australian hotels for higher returns
Singapore and Australia are two of the most coveted Asia Pacific locations for hotel investors, based on a recent survey conducted by HSR Hospitality, a unit of HSR Property Consultants, a leading real estate consultancy based in Singapore.
The study evaluated transactions over a 5-year period and analysis of more than 50 regional hospitality investors (institutional funds, REITs, private equity and high net worth investors) in over 120 transactions, taking account of investors purchasing properties outside their country of origin.
Other countries making the top 10 list include China, Japan, Thailand, Indonesia, New Zealand, India, South Korea and Maldives (in order from favourable to least).
Singapore is ranked behind Australia, not because it was less favorable but due to 'price barriers' of entry. According to Donald Han, Special Adviser at HSR Property Consultants, "Singapore hotel market saw a 38% jump in capital values in the last 3 years making it difficult for foreign investors to get a piece of the action due to rising price expectations. Nobody was selling and yet everything can be for sale but at a hefty premium. Asking and bid price gap can typically be as wide as 30% versus in other parts of Asia of between 5 to 15%.”
Raymond Bickson, MD & CEO, Indian Hotels Company Limited
Yash Ved of IIFL gives you highlights from a media interaction where Raymond Bickson says “We are planning 13 new hotels and 1521 rooms in 2013-14.”
What is your outlook on the hotel sector?
The sector continues to face pressure on demand due to the current economic environment, which in turn had kept the room rates subdued below desired levels which is essentially an offseason period.
The company expects to open Vivanta by Taj Gurgoan as also its first prototype the Gateway Hotel at Kolkata later in the year.
How was the quarter as a whole?
There has been overall a 23% increase in supply in H1 compared to last year.The demand -supply mismatch has put pressure on occupancies.
Demand growth has been at moderate at 20% in summers and expected to pick up in H2 and winters.
What are your plans for 2013-14?
Till now, the company has opened 5 hotels and 509 rooms in 2012-13.
The company is planning to develop 13 new hotels and 1521 rooms in 2013-14.
Brief us about your financials?
The company has posted net loss of Rs. (908.50) mn for the half ended September 30, 2012 as compared to net loss Rs. (703.30) mn for the half ended September 30, 2011.
Total Income has increased from Rs. 14953.10 mn for the half ended September 30, 2011 to Rs. 17014.00 mn for the half ended September 30, 2012.
What is your current debt?
Our current debt stands at Rs38bn.
Indian Hotels appoints Cyrus Mistry as Non-executive Chairman
Indian Hotels Company Ltd has announced that at a meeting of the Board of Directors of the Company held on November 20, 2012, Cyrus P. Misty has been appointed as an Additional Director designated as the Non-Executive Chairman of the Company and will take over from Ratan Tata on his retirement in December, 2012.
Great Eastern Hotel plans to reopen next year:reports
The Great Eastern Hotel will reopen next year, according to reports.
Reports stated the property of Lalit Suri group, the 171-year-old hotel is in an advanced stage of restoration.
Jyotsna Suri, Chairperson and MD of Group, reportedly said that spread across 2.3 acres in the heart of the city, the hotel, in its new avatar, will have 244 rooms and suites, an all-day dining facility and two specialty restaurants including the famous Maxim’s bakery.
IHG launches fourth brand Holiday Inn Express: reports
The InterContinental Hotels Group has launched fourth brand Holiday Inn Express in India, according to reports.
Reports stated that company has 12 operational hotels and plans 37 additional hotels in the next 3-5 years.
About 80% of our upcoming hotels will be under the brands Holiday Inn and Holiday Inn Express,” Douglas Martell, Vice-President Operations, South West Asia, reportedly said.
Adamo Hospitality opens 40-room "Vaikunth" for Nathdwara pilgrims
Adamo Hospitality, the hospitality arm of the Ajmera Group, has opened “Vaikunth” hotel for people who travel to popular pilgrimage destination, Nathdwara, near Udaipur in Rajasthan. Vaikunth is located just 500 metres from Shrinathji Temple; opposite Varsha Vatika, Tehsil Road, Nathdwara.
Vaikunth by Ajmera’s is equipped with all modern amenities of a good hotel for transit stay coupled with a serene ambience ideal for family devotees. It has 40 rooms and a restaurant serving ‘Sattvic’ vegetarian food and Jain food on request! It also has a wedding banquet hall, which can cater to 100-150 people during marriages being held in the pious place.
Harsh Ajmera, Director, Adamo Hospitality, said, “The Ajmera Group, which has a rich legacy of ethical business practices for over 5 decades in varied business domains, places utmost priority to ‘give back’ to society and serve it.
Bharat Hotels celebrates four successful years of its brand identity
November 19th marks the birth anniversary of Late Lalit Suri, Founder Chairman of the Lalit Suri Hospitality Group. On completion of four successful years of its new brand identity –The The Lalit Suri Hospitality Group (an enterprise of Bharat Hotels Ltd.) performed rituals at the iconic The Great Eastern Kolkata, which is currently under extensive restoration process. On the sidelines, the Group also announced the launch of The Lalit Chandigarh.
The Lalit Great Eastern Kolkata and The Lalit Chandigarh will be luxury properties and will reflect the Group’s brand ethos of ‘Traditionally Modern, Subtly Luxurious & Distinctly Lalit’.
Spread across 2.3 acres, when re-commissioned, the Great Eastern Kolkata will offer 244 rooms and suites, an all day dining, two specialty restaurants including the famous Maxim’s, the grand bakery. The hotel would be presented in two distinct styles.
Accor celebrates 30 years in Asia-Pacific with record-breaking growth
Accor, the largest international hotel operator in Asia-Pacific, today commemorates its 30th anniversary in the region. The milestone comes as the French hotelier celebrates a year of record-breaking expansion, opening 110 new properties, ranging from luxury to budget, which will bring Accor’s network in the region to 550 hotels by the end of the year.
As part of the celebrations, Denis Hennequin, Chairman and Chief Executive Officer, Accor S.A and Michael Issenberg, Chairman and Chief Operating Officer, Accor Asia-Pacific, announced the Group’s 100th new hotel contract – Novotel Goa Shrem Resort – signed in the region this year, boosting the Group’s ambition to operate 700 Asia-Pacific hotels by 2015. The announcement of the 150-room Novotel marks Accor’s first property in this key market in India.
RhB introduces scrumptious Indian food on Glacier Express in Switzerland
Indian tourist traveling on the scenic Glacier Express train in Switzerland can now enjoy authentic and delectable Indian cuisine like Chicken Tikka Masala and for Vegetarian lovers Veg Jalfrezi served with Kashmiri Pulao and mixed green salad.
Recognizing the growing number of Indian tourist on these popular trains, RhB took this decision as a key strategy to attract more Indian guests for whom food is an important factor on an international holiday.
Reto Rostetter, Manager overseas Market says “India is one of the priority markets for us and as a mark of respect towards the Indian culture we have introduced Indian food on Glacier Express this April. Indian guests have always been on a consistent rise and introduction on Indian food will help us to attract even more Indians.”
Glacier Express is the slowest express train in the world. The panoramic journey passes more than 291 bridges, 91 tunnels and crosses the 2,000 meter high Oberalp Pass. The Rhaetian Railway serves a number of major tourist centre’s, including St Moritz and Davos. One of the lines, the Bernina Bahn, crosses the Bernina Pass to the Italian border and on to Tirano, Lombardy, where there is a link to the Italian railways. The network contains 55 tunnels plus 196 bridges. Bernina line is 102 year young.
In 2008 the Rhaetian Railway in the Albula / Bernina Landscape was added to the list of UNESCO World Heritage Sites. On October 20, 2011 Google announced that the Albula-Bernina line would be the first rail line in the world to be photographed and put on Google Street View.
Yatra.com launches sequel with holiday’s TV campaign
Yatra.com, one of the leading online travel portals today announced the launch of its TV campaign bringing back superstar Salman Khan as Mr. Yatra. The campaign will emphasize on leisure holidays and will showcase the best deals that will be available to you this season only at Yatra.com.
Taking the fervor and excitement for the travel enthusiasts to the next level, Yatra.com today announced the launch of its new 360 degree marketing campaign. An extension to the previous TV campaign, this campaign focuses on deals in holiday packages, another offering from the Yatra.com’s portfolio. The multimedia campaign this time again has been conceptualized by McCann.
The new TVC that extends the previous story forward in a humorous wayhas a refreshing feel to it. You will see your favorite star hanging from a building wall trying to crack the best holiday deal for you.The Bollywood Khan’s impeccable sense of timing his humour makes the Yatra.com advertisements a favorite amongst his fans. The TVC therefore repositionsthe brand as a provider of hassle free holidays that make for a happy holiday.
Tourism New Zealand unveiles latest evolution of Middle-earth campaign
Tourism New Zealand today unveiled the latest evolution of its “100% Middle-earth, 100% Pure New Zealand” campaign.
It comes as the country is drawing ever nearer to the world premiere of the upcoming epic motion picture The Hobbit: An Unexpected Journey, a production of New Line Cinema and Metro-Goldwyn-Mayer Pictures (MGM), on November 28 in Wellington.
New creative and an interactive Middle-earth feature have been introduced to newzealand.com, [www.newzealand.com/int] Tourism New Zealand’s website for engaging with potential visitors.
Exclusive new illustrations have been created by three talented designers at Weta Workshop and will be used across Tourism New Zealand’s 100% Middle-earth, 100% Pure New Zealand campaign material. The illustrations take scenes from Tourism New Zealand’s television and cinema advertisement launched on August 23, and transform them into the world of Middle-earth.