Tag: Hospitality Sector

Lutron To Enter Residential Space

PAs the Real Estate Industry of the country gains pace after the slowdown, many different firms plan to foray into the sector. One among them is the Global Lighting Controls Major LUTRON. Lutron which is present in the country for more than 10 years is likely to enter into the residential apartment space. Till now […]

Yatra Capital Invests $7 Million In Kolkata

Yatra Capital Ltd, the Euronext listed real estate company, has invested $7 million for a 40% stake in Jalan Intercontinental Hotels Pvt Ltd, a company that is building a two hundred room business hotel in Kolkata. The hotel will be supervised by Indian Hotel Ltd under the Taj Gateway brand. The hotel will be built […]

Gulf Parent Comes To Emaar MGF’s Rescue

In what would be the first major fund infusion into the Emaar MGF Group after a failed IPO, one of its promoters, Dubai-based Emaar is learnt to be investing $150 million to pick 20-25% stake each in three real estate projects of Emaar MGF. This would be separate from its equity contribution in the JV […]

Government Relaxing Entry Restrictions For foreign Players In Hotel Construction

In a move that could help curb hotel room crisis ahead of Commonwealth Games 2010, the government is considering relaxing entry restriction for foreign players in construction of hotels and resorts. It is looking at a suggestion to bring down minimum development rule of real estate from existing 50,000 sq feet to 20,000 sq feet […]

Starwood Hotels & Resorts Worldwide Inc Plans Upscale Brand Aloft In India

Starwood Hotels & Resorts Worldwide Inc, a hospitality and leisure chain, plans to roll out its upscale brand ‘Aloft’ in India. “We have tied up with a few developers and Citibank subsidiary for the Aloft brand,” said Larry Malarkar, regional director, sales and marketing, India, Nepal and Bangladesh, Starwood Asia Pacific Hotels & Resorts Pte […]