HospitalityBiz India
Hotels FoodService Operations Ministry Associations Equipment Editorial HR Technology Technology Advisory Board Community
Follow us on Facebook Follow us on Twitter instagram
    Home > NewsTrack
NEWSTRACK

Noesis successfully transacts largest Hotel Merger and Acquisition of the Year

Wednesday, June 30, 2021, 11:26 Hrs  [IST]
HBI Staff | Hyderabad

NOESIS is pleased to announce the hotel merger and acquisition of the year with the SUBA group of hotels acquiring a significant majority stake in 1589 Hotels.

 

The transaction sees SUBA hotels adding 35 hotels & resorts across India & Nepal to its existing portfolio of 15 Hotels spread across India & UAE with significant growth to come in South Asia & the Middle East.

 

The 1589 Hotels operates hotels in the economy to mid-segment space predominantly in the offbeat leisure locations and tier-II & III cities. They are present in 22 cities such as Jaipur, Lucknow, Jim Corbett, Ranthambore, Dalhousie, Ajmer, Pushkar, Udaipur, Mirzapur, Vadodara, Bhavnagar, and others under the Genx and RNB brands. It also operates several properties in Nepal. The company will continue with its asset-light approach to hotel management.

 

NOESIS acted as an exclusive transaction advisor and Nandivardhan Jain, CEO of NOESIS led the transaction with an internal team. Entire transaction was completed in three months including the execution of the definitive agreements. 

 

Nandivardhan Jain, CEO - Noesis Capital Advisors said “The opportunity to acquire 1589 Hotels which have operations across India & Nepal attracted the SUBA group of Hotels. This transaction reflects great Indian entrepreneurialism creating a sustainable conversion-friendly hotel management platform suiting independent hotel owners and domestic traveler’s requirements. The acquisition of this platform will enable SUBA Hotels to fast track its growth across South Asia”.

 

NOESIS Capital Advisors, Asia's largest Hospitality transaction advisory company currently mandated for more than 12000 plus keys for operator search assignment on the lease, revenue sharing, management, and franchise contract. NOESIS is also working on an exclusive buy-side mandate from the family office and special situation funds to invest 1.5 billion dollars in distressed hospitality assets in South Asia.

 
Print News Email News Back
Bookmark to Add to NewsvineNewsvine Bookmark with del.icio.usdel.icio.us Digg ItDigg
Add RSS to Add to Google Add to My Yahoo! Subscribe with Bloglines Subscribe
 POST A COMMENT
* Name :    
* Email :    
* Message :  
   
RELATED NEWS
»  Ginger Signs Its Ninth Hotel In Delhi-NCR
»  Radisson Blu Hotel MBD Ludhiana completes nine successful years of providing remarkable hospitality services
»  IHCL announces opening of Raajkutir, an IHCL SeleQtions hotel in Kolkata
»  Hotel Polo Towers Group announces the opening of ‘Polo Floatel’ in Kolkata
»  Hotel Polo Towers Group announces the opening of ‘Polo Floatel’ in Kolkata
»  Barbeque Nation at Sayaji Hotel Kolhapur announces Ocean's Bounty Sea Food Festival
»  Cancelled Christmas, New Year bookings result in INR 200-crore loss for hospitality sector
»  OUTLOOK for 2022 : M.P.Bezbaruah,Secretary General, Hotel Association of India
»  InterContinental Chennai Mahabalipuram Resort presents a ‘New Year Special’ IConic75 Brunch & Dinner on 31st December 2021 & 1st January 2022
»  Noesis presents the 'Millennials report' on Travel and Hospitality
»  Pride Hotel Pune announces Festive offers to indulge in Festive spirits
»  Raffles Udaipur offer new year packages
»  Bengaluru Marriott Whitefield Hotel appoints Rahul Khandelwal as the new Director of Sales and Marketing
»  Ramada Encore by Wyndham brand signs a new hotel in Ambala, G.T Road
»  Pride Plaza Hotel Ahmedabad to host a Heritage walk at Khao Galli in collaboration with IIHM, Ahmedabad.
»  ‘We want to be the largest platform to support all types of hotels and accommodations by 2027’: Sibasish Mishra, Founder and CEO, BookingJini
»  Raffles Udaipur introduces New Year Package
»  New Ginger Hotel in Santacruz, Mumbai being constructed by All-woman team
»  Parnika Bhasin Pande takes over as Head - Signum Hotel Academy
»  Preferred Hotels & Resorts Announces Nine New Independent Hotel Openings in 2022
 
CoverStory
Analysis
 
  The Indian Institute of Architects (IIA) Natcon 2020 virtual event concludes successfully
  Winners of The Park Elle Décor Student Contest felicitated at Indian Design ID 2020
 
weekly
Receive the best of Hospitality content in your mailbox.
Weekly e-Newsletter
Events Calendar




Events
 
 
people
interview
newappoint
expert
© Copyright 2016 Saffron Synergies Pvt Ltd
HOME   |   ABOUT US   |   CONTACT US   |   FEEDBACK   |   DISCLAIMER   |   SITE MAP   |   ARCHIVES