Category: Tourism and Hospitality

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

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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

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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

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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

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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 …

NEPAL > Marriott International to open four-star hotel in Nepal

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MarriottInternational.svg USA based hospitality company Marriott International and MS Group to open four-star hotel in Kathmandu, Nepal with an investment of around $5.9Mn. MS Group has signed an agreement with a Marriott International to open, Fairfield by Marriott Kathmandu. The Thamel, Kathmandu based hotel will be 10-storey hotel with 108 rooms. Marriott will help MS Group with the management of the More …

IRELAND > Singapore based Ascott expands to Ireland with acquisition of Temple Bar Hotel for $57.69 Million

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ascott_limited_logo Singapore based CapitaLand’s wholly owned The Ascott Limited (Ascott) expands to Ireland with acquisition of Temple Bar Hotel in Dublin for €55.1mn ($57.69Mn). With this acquisition Ascott has more than 45 properties across 19 cities in Europe including Belgium, France, Georgia, Germany, Ireland, Spain and the United Kingdom expanding its portfolio of €1.2 billion ($1.26 billion) properties. This year alone More …

INDIA > Abu Dhabi’s Lulu Group to Invest US$ 150 Million in India

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lulu-group-logo Abu Dhabi based LuLu Group International plans to invest US$ 150 Million in the hospitality sector in India over the next five years. The company’s strategy for India is to invest in properties that consists of 100 to 150 rooms and valued at around US$ 15 Million per property. Lulu Group is a US$ 5.4 Billion conglomerate that has interests in More …

NEPAL > Cable Car as an Urban Form of Transportation in Kathmandu ?

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cablecar My Republica published the article titled  “Baudha to Tahachal in 30 minutes by cable car!” outlining a feasibility study done to address the need for a supplemental form of public transportation in Kathmandu. It further writes: “One can go from Baudha to Tahachal in 30 minutes by cable car and at a reasonable fare, according to a feasibility study. The More …