Last Updated: Monday, June 8, 2015, 14:08
In a major deal for Saharas, billionaire brothers David and Simon Reuben have acquired control of the crisis-hit Indian group's iconic Grosvenor House hotel here and the two US properties -- Plaza and Dream Downtown -- in a USD 850 million (Rs 5,500 crore) debt refinance deal, a media report said .
Last Updated: Sunday, June 7, 2015, 20:23
In a relief for the crisis-hit Sahara Group, the Indian company has sealed the sale of its Grosvenor House hotel here and two US properties -- Plaza and Dream Downtown -- in a $850 million debt refinance deal, a local media report said on Sunday.
Last Updated: Sunday, June 7, 2015, 17:55
Saharas' refinancing arrangements involved getting a fresh loan for the three properties. A part of the proceeds would be given to Bank of China for release of Grosvenor House from "administration", while the remainder could be deposited with Sebi to secure release of Roy and two other top officials from Tihar Jail.
Last Updated: Tuesday, June 2, 2015, 19:17
The average accommodation rate offered to travellers in Pune in 2013 was Rs 5,243 per night, according to Hotels.Com Hotel Price Index (HPI) report.
Last Updated: Thursday, May 28, 2015, 21:47
With its prized property, Grosvenor House, put on sale by lender Bank of China for a loan 'default', crisis-hit Sahara group Thursday said it is not participating in any re-auctioning of the London hotel.
Last Updated: Wednesday, May 27, 2015, 14:07
In an interesting turn of events, crisis-hit Sahara has entered the fray for buying its own Grosvenor House hotel, which was put on sale by its lender Bank of China after a 'technical default'.
Last Updated: Sunday, May 24, 2015, 15:36
Government will soon privatise eight loss-making hotels run by India Tourism Development Corporation (ITDC) as it plans to "offload" all the sick units, Tourism Minister Mahesh Sharma said.
Last Updated: Monday, April 20, 2015, 23:11
Taj Group, owned by Indian Hotels, which is weighed down by mounting losses and heavy debt Monday said it sees the group turning around and reporting profit within two years.
Last Updated: Monday, April 20, 2015, 00:14
Tata-owned flagship Taj Hotel has launched a new corner restaurant in Britain which is set to become the new favourite celebrity hangout.
Last Updated: Wednesday, April 15, 2015, 16:01
Online hotel bookings in the country will touch USD 1.8 billion by 2016, as more and more Indians turn to the Internet for finalising travel plans, according to Google.
Last Updated: Tuesday, April 14, 2015, 17:08
OYO, at present, offers 300 rooms in 29 hotels spread across Bengaluru, including Brigade Road, Koramangala, Whitefield, Indiranagar and MG Road, the company said.
Last Updated: Wednesday, April 8, 2015, 17:14
The Group has 74 hotels in operation and 43 more in the pipeline across different cities in India.
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