INDIA > Carlson Rezidor Hotel Group enters Mumbai, India with upscale hotel brand Radisson

Carlson Rezidor logo One of the world’s largest hotel groups, Carlson Rezidor Hotel Group, is introducing Radisson hotel in Mumbai signing a 112-key hotel in Andheri suburb in partnership with GHV Hospitality India Private limited in which the Carlson Rezidor Hotel Group will be responsible for the management and GHV Hospitality India Private Limited for its development. Located in one of the prominent More …

HONG KONG > Klook raises nearly $60 million from Sequoia China, Goldman Sachs, Matrix Partners and OurCrowd

Klook logo In Series C funding, Klook has raised nearly $60 million funding representing the largest in- destination service booking platform investment that by Sequoia China, Goldman Sachs, Matrix Partners and OurCrowd. Klook is set to use the funding for global expansion and accelerate product growth and innovation. Launched in 2014, Klook has 30,000 travel activities and has over 120 destinations worldwide More …

SCOTLAND > China based Ctrip acquires Skyscanner, plans expansion and 200 new jobs in Scotland

Ctrip China based Ctrip is set to open a base in Scotland in early 2018 creating 200 new jobs over the next few years. The Chinese owner also bought Skyscanner, a Scotland- based travel search site, for £1.4 bn ($1.7 billion). However, the proposed call center will function separately than Skyscanner. Ctrip is one of largest online travel agencies of China More …

USA > India based Millitoons Entertainment has acquired 100% stake in US based Kirksville Hospitality Inc. which runs a franchise of Holiday Inn for $4.83 million

holiday inn Millitoons Entertainment has announced that it has owned 100% stake in Kirksville Hospitality Inc. which runs a hotel under Holiday Inn franchise for $4.83 million. Millitoons Entertainment has a subsidiary based in the US named Mient Hospitality LLC which was used for this transaction. Kirksville Hospitality has had gross revenue of $1.96 million in the last fiscal year. About Millitoons More …

INDIA > Softbank invests $225 million in India based OYO Rooms

OYO logo Operated by Oravel Stays Pvt. Ltd., OYO Rooms is a branded budget hotel marketplace which has raised $250 million led by existing investor Softbank which is expected to invest $225 million. Other investors include Lightspeed Venture Partners India Pvt. Ltd, Sequoia Capital India Advisor Pvt. Ltd and Greenoaks Capital Partners LLC are expected to invest $25 million. Valued at $850 More …

MYANMAR > South Korean group Lotte inaugurates the $200 million hotel in Yangon, Myanmar

lotte logo photoshop Lotte Group, the fifth largest conglomerate in food, retail and construction in South Korea, opens up its eighth hotel, Lotte Yangon, at a prime site next to Inya Lake with an aim to establish a foothold in the lucrative ASEAN market. It currently operates hotels in United States, Russia, Vietnam and Uzbekistan. Situated about 8 km from the Yangon International More …

NEPAL > IFC and FMO invests US$ 5.5 MM on Fairfield Marriott Hotel

MarriottInternational.svg The International Finance Corporation (IFC) and FMO (a Dutch development bank) together have invested $5.5 million to develop Fairfield Marriott in Thamel, at the heart of the city of Kathmandu. IFC and FMO will be splitting their investment ($2.75 million each) into the company called Nepal Hospitality and Hotel Pvt Ltd. which will be operating the three-star mid market hotel with More …

ENGLAND > PE firm Onex to Acquire Parkdean Resorts for around $1.67Bn

onex_corporation-svg Canada based PE firm Onex has agreed to acquire Parkdean Resorts for £1.35bn($1.67Bn). The transaction is set to close in the first quarter of 2017. Parkdean Resorts currently sell more than 500,000 holidays and short breaks annually from their 73 holiday parks across England, Scotland and Wales employing over 6,000 staff during the peak holiday season.   About Parkdean Resorts More …