VICEROY BANGALORE HOTELS
Edelweiss Alternative Asset Management to sell up to 20% stake for Rs 1,500-2,000 crore
The company added that this minority stake sale will enable debt reduction and establish the market value of the business per their longstanding objective of unlocking value for shareholders.
DS Group plans Rs 1000 crore push in hospitality
The DS Group, a multi-business and FMCG corporation, plans to invest Rs 500 crore in adding three new hotels to its portfolio over the next three years. The company currently operates six hotels under global hospitality brands such as Radisson and Marriott. The new properties will be located in the north and northeastern regions of India. The investment will be funded through a combination of internal accrual and debt. The DS Group aims to achieve an annual growth of 15% in the hospitality segment over the next few years.
Edelweiss sees a boom in private credit market, raises Rs 8,000 crore for third fund
While many underlying assets are operating well, they require tailored solutions to reach sustainable debt levels. So, Edelweiss believes that the private credit market will boom in the coming decade, growing from its present size of $14 billion to $100 billion.
Nod to DS Group offer for Viceroy Bangalore Hotels
The hospitality company owns the Marriott-managed five-star Renaissance Bengaluru Race Course Hotel, and has around ₹1,100 crore of unpaid debt. The New Delhi-based acquirer has proposed ₹300 crore to buy the company in a court-monitored insolvency resolution process.
Dharampal Satyapal Group wins bid for Viceroy Bangalore Hotels
Dharampal Satyapal Group has won the bid for Viceroy Bangalore Hotels, which owns the Marriott-managed five-star Renaissance Bengaluru Race Course Hotel, after bidding INR 300 crore ($40m). The hotel company has a debt of INR 1,100 crore. The group owns several brands and operates in the hospitality sector. Viceroy Bangalore Hotels received eight resolution plans from an initial 37 expressions of interest. The Dharampal Satyapal Group did not comment on the win.
Dharampal Satyapal Group, Salarpuria Group submit resolution plans for Viceroy Bangalore Hotels
The National Company Law Tribunal, Hyderabad Bench ordered the commencement of a corporate insolvency resolution process of the Viceroy Bangalore Hotels Private Limited in August last year.
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Sensex rallies on US Fed dovish outlook; top twelve stocks in focus
The 50-share Nifty index managed to reclaim its crucial psychological level of 7900, supported by gains in pharma, metal, realty and banking stocks.
Viceroy Hotels rallies over 9% on stake sale reports
Viceroy Hotels Ltd rose as much as 9.4% after media reports that it is looking to sell its entire 40% stake in the upcoming Renaissance Hotel.
Twelve stocks in focus in Thursday morning trade
Indian markets are expected to trade in a range. Here is a list of twelve stocks which are likely to be in focus today.
Viceroy Hotels to exit Bangalore project
“The developer has been unable to fund the project due to lack of resources and inability to follow through on the project investment timelines,” the person told ET.
Hotels turn into residential or commercial properties due to oversupply & high financing costs
Oversupply and high financing costs are forcing developers in many cities to convert projects into residential or commercial properties.
Viceroy Hotels plans to sell its Chennai project to Ceebros Hotels for Rs 480 crore
Ceebros Hotels, incorporated in 1980, is a diversified business group with interests in real estate, hospitality and power generation and runs two hotels under 'Raintree' brand in Chennai.
Why Captain Nair, chief of Leela Hotels, is so confident about his future
Right now, Captain Nair has an extraordinary problem: Rs 4,300-cr debt, profit-less quarters and ongoing negotiations with lenders.
Rakesh Jhunjhunwala hikes stake in Viceroy Hotels to 13.45 pc
Rakesh Jhunjhunwala has bought over 14.57 lakh shares in the company from open market on April 4, Viceroy Hotels said.
Viceroy Hotels to hive-off Chennai project division
Viceroy Hotels (VHL) on Monday said it is looking to hive-off its Rs 560 crore Chennai project into a separate company to cut debt on its balance sheet.
CWG 2010: Delhi gets a facelift for sure
Twenty-six new flyovers, 18 railway over-bridges, wider roads, swanky airport terminals… All isn’t well still, but Delhi gets a facelift for sure.
Mid-sized hotels: Right time to check in for a long stay
Boosted by the robust economic growth and the revival in tourism, many hospitality majors are ramping up their capacities.
JP Morgan invests Rs 740 mn in Viceroy Hotels Ltd
Viceroy Hotels Ltd has raised private equity capital of Rs 740 million from JP Morgan India Property Mauritius Company II for its Bangalore hotel project.
Marriott to open 18 new hotels in India by end-2010
Marriott International hotel company is currently running ten hotels under its management.
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