Author: HBI Staff | Hyderabad
The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against Coffee Day Enterprises Ltd (CDEL), the parent company of Café Coffee Day. This decision follows a petition filed by IndusInd Bank, which is seeking to recover a debt of INR94 crore. Coffee Day Enterprises, which has faced financial difficulties since the death of its founder V.G. Siddhartha in 2019, had attempted to delay the insolvency proceedings but was unsuccessful. The NCLT’s ruling marks a significant step in the company’s ongoing financial struggles.
According to the Business Standard, Lemon Tree Hotels, India’s largest mid-priced hotel chain, intends to list its subsidiary, Fleur Hotels, as part of a strategy to become debt-free within six years. The company revealed that 90% of its consolidated debt of INR 2,336 crore as of March 2024 is tied to Fleur Hotels. Chairman and Managing Director Patanjali Govind Keswani noted that taking Fleur public would eliminate their debt over time. Additionally, Lemon Tree has been investing in renovations, digital transformation, and expanding its business development and sales teams, leading to a temporary dip in EBITDA margins. The company remains…
Wyndham Hotels & Resorts continues to grow its upscale footprint across the Europe, Middle East and Africa region with the opening of Dolce by Wyndham Barcelona Resort. Situated in Sant Esteve de Sesrovires, less than 30 minutes from the Josep Tarradellas Barcelona – El Prat Airport and 45 minutes from Barcelona city centre, the impressive resort offers 150-rooms in a prime location for both business and leisure travellers looking for the perfect balance of tranquillity, comfort and practicality. With more than 600 square metres of meeting and event spaces, the hotel is perfectly equipped to accommodate the increasing demand for…
SKYE Hospitality, an end-to-end hospitality & strategy consulting company has released its maiden market analysis on the pulse of the Indian hotel industry for the first six months of 2024. The analysis has shared some interesting insights and perspectives on the Indian hospitality sector. As per the analysis, 2706 rooms have entered the market in H1 2024. Out of these 994 rooms (~ 37%) consisted of upscale rooms while the remaining (63%) consisted of premium inventories. A total of 22 new projects have opened in H1 2024. Major hospitality brands such as IHCL, ITC, Radisson, Hyatt, ROHL, Bharat Hospitality, Wyndham,…
Bengaluru’s food delivery landscape is poised for a shake-up as local hotels begin to trial a new delivery model that could challenge Swiggy and Zomato’s dominance. The Bruhat Bengaluru Hotels Association (BBHA) has partnered with the seller-side platform GrowthFalcons to integrate with the Open Network for Digital Commerce (ONDC). The new system, which is currently being tested by about 10 hotels, could slash delivery commissions and reduce food prices by 10% to 20%. “We are conducting trial runs to finalize crucial aspects such as the assignment of delivery executives and grievance redressal,” said Arun Adiga, owner of Vidyarthi Bhavan. The…
Indian Hotels Company (IHCL) announced the signing of its seventh Taj hotel in Bengaluru. Speaking on the occasion, Suma Venkatesh, Executive Vice President, Real Estate & Development, IHCL said, “This signing is in line with IHCL’s strategy of strengthening our presence in metro cities and catering to the growing demand for MICE and weddings. Bengaluru, as a major IT and business hub, offers an ideal setting for creating demand for leisure getaways and events within convenient driving distances from the city. We are excited to collaborate with BCM GROUP and Rajesh Mehta on this project and look forward to delivering the…
Stone Wood Hotels and Resorts, the premier chain of affordable boutique hotels, proudly announces the opening of its newest property in the scenic town of Kumbhalgarh. This marks the brand’s second venture in the culturally rich state of Rajasthan. Stone Wood Hotel Kumbhalgarh is strategically located just 100 km from Udaipur Airport, ensuring a convenient 2-hour drive via well-connected roads. The hotel is in close proximity to the renowned Kumbhalgarh Fort, a UNESCO World Heritage site celebrated for its historical and architectural grandeur. Guests will also find easy access to other notable attractions, including the revered Ranakpur Jain Temple and…
Restaurant Brands International surpassed Wall Street’s expectations for second-quarter revenue, driven by a successful overhaul of its Burger King chain and steady demand at Tim Hortons. The turnaround plan for Burger King, launched in 2022 with a USD 400 million investment, included store remodels and equipment upgrades. An additional USD 300 million was pledged in April. The company also acquired its largest U.S. franchisee, Carrols Restaurant Group, during the period. Burger King’s USD 5 value meal and investment in stores and advertising boosted foot traffic by 4.3%. Total revenue increased to USD 2.08 billion, exceeding analyst estimates of USD 2.02…
Burma Burma Restaurant and Tea Room, a Mumbai-based restaurant chain, has raised $2 million (approximately INR 16.8 crore) in funding from several family offices, including existing investor Negen Capital. The investment will be used to triple the number of its outlets over the next three years, significantly expanding its presence in India. The funding supports Burma Burma’s growth strategy as it continues toward
In a bid to accommodate late-night diners, Telangana Chief Minister A. Revanth Reddy announced that restaurants and eating outlets in Greater Hyderabad will now remain open until 1 am. However, liquor shops will continue to close by 11 pm. The decision, made after discussions with the city’s police commissioners, aims to support workers, particularly in the IT sector, who need access to food at night. Despite this extension, Reddy emphasized his opposition to extending liquor shop hours to discourage excessive drinking. The CM also highlighted the state’s commitment to maintaining law and order, urging cooperation from all city legislators…
