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Reliance acquires Stoke Park for 57 million pounds

24Apr By AnkitaNo Comments

ACQUISITION

Reliance acquires Stoke Park for 57 million pounds

London, 4/24/2021: Reliance Industries Ltd has bought Britain's iconic country club and luxury golf resort, Stoke Park for 57 million pounds ($79,116,010). Over the past four years, Reliance has announced USD 3.3 billion in acquisitions, with 80 percent being in the technology, media, and telecom (TMT) sector. The acquisition adds to Reliance's current stake in Oberoi hotels and hotel-managed residences in Mumbai that it's developing. The UK-based firm, which owns a hotel and golf course in Buckinghamshire, UK, will add to Reliance's consumer and hospitality assets, the firm said in a filing late on Thursday. "Reliance Industrial Investments and Holdings Ltd (RIIHL), a wholly-owned subsidiary of Reliance Industries Limited, has on April 22, 2021, acquired the entire issued share c...

Oyo Acquires Las Vegas Hooters Casino Hotel

25Aug By AdityaNo Comments

ACQUISITION

Oyo Acquires Las Vegas Hooters Casino Hotel

Las Vegas, August 23, 2019 — OYO, the world’s third-largest and fastest-growing online hotel booking platform acquires Hooters Casino Hotel. OYO has partnered with Highgate to create its first key flagship property in Las Vegas and name it as OYO Hotel & Casino Las Vegas. Located near the corner of the famed Las Vegas Strip on Tropicana, OYO Hotel & Casino provides 657 rooms across nineteen floors and a 35,000 square-foot casino. Additional amenities include two signature restaurants, four bars, a fitness center, and an outdoor pool. The property will undergo an exciting transformation to be completed this year, which will bring the dynamic OYO brand to life in the most recognizable tourist destination in the world. Highgate will assume management of the hotel, and Para...

Hotel Chain Treebo Lays Off 70-80 Employees

23Jul By AnkitaNo Comments

News

Hotel Chain Treebo Lays Off 70-80 Employees

Hospitality company Treebo has laid off between 70-80 workers, or about 10% of its 800- strong workforce. Currently, It consists of 800 people working under its brand. These layoffs are in line with the company's efforts to double down on its technology products and processes even as it looks to rationalise prices. Treebo Hotels is India's third largest hotel chain which operates in the budget segment of the hospitality industry. It operates on a franchise model and emphasizes quality control along with 10,000 rooms and 400 hotels in over 85 cities operating exclusively under its brand, it also competes with FabHotels and Oyo Rooms. As the company’s spokesperson said, "This, in turn, has allowed us to now take a critical look at our payroll and other costs, and rationalise them in line...

24Mar By AdityaNo Comments

News

Musafir.com Launch It’s Technology Center in Pune

Musafir.com, one of the leading OTAs in India, today announced the launch of its third technology center in Pune. Musafir.com is looking to double its technology team by the end of the year. The Pune center will complement the technology and product teams that are already operating out of centers in Mumbai and UAE. Technology is at the heart of the aggressive business strategy being pursued by Musafir.com. "Musafir.com was founded with the promise of a stellar user experience backed by the best technology. The establishment of our third technology center in Pune reinforces our commitment to this promise. Our aim is to double the strength of our engineering team by the end of the year, and herald a new generation of innovative user experiences for our travellers," said Albert Dia...

Stayzilla Signs MoU With Madhya Pradesh Government

22Jun By NitishNo Comments

BUSINESS

Stayzilla Signs MoU With Madhya Pradesh Government

Stayzilla.com, one of the leading platforms (website and app) for verified homestays and alternate stays and Madhya Pradesh State Tourism Development Corporation (MPSTDC) signed a memorandum of understanding (MoU) for joint promotion and development of homestays in Madhya Pradesh. The MoU was signed in the presence of the Hon'ble Chief Minister of MadhyaPradesh, Shri Shivraj Singh Chouhan, Ms.Tanvi Sundrayal, Additional Managing Director, MPSTDC and Mr. Yogendra Vasupal, Founder and CEO, Stayzilla.com. Under this agreement, Stayzilla will support verification procedures, jointly boost homestays in cities and places of interest within Madhya Pradesh. All homestays registered with MPSTDC will receive technical support in the form of inventory management and software applications to ensur...

OYO Enters North-East, Offers 250 Rooms in Gangtok, Darjeeling

16May By AnkitaNo Comments

News

OYO Enters North-East, Offers 250 Rooms in Gangtok, Darjeeling

Online aggregator of branded hotels OYO Rooms has expanded its presence in the north-east by offering more than 250 standardised rooms in Gangtok and Darjeeling. "We have made significant investments to expand our presence in key tourist destinations in the north-east like Gangtok and Darjeeling. Our teams have worked very hard to deliver OYOs level of standardisation of guest experience in the hotels...," OYO Rooms Founder and CEO Ritesh Agarwal said in a statement. "The hospitality sector is still underdeveloped in the north-east and we are certain that the introduction of OYOs standardised affordable stays will attract more tourists," he added. The company now offers more than 250 standardised rooms at rates as low as Rs 999 per night in Gangtok and Darjeeling for and premium rooms...

Ixigo Launched Reverse Bidding Model for Outstation Cabs

3May By AdityaNo Comments

News

Ixigo Launched Reverse Bidding Model for Outstation Cabs

Cab and taxi booking service provider Ixigo cabs recently introduced outstation cab bookings by building a marketplace of inter-city cab aggregators and vendors with a unique reverse bidding model. Inter-city commuters will no longer have to deal with calling up multiple intercity cab vendors as over 250 of them will compete internally, getting you the lowest possible fare in under 120 seconds. Outstation and inter-city cab bookings with the reverse bidding model are now available on ixigo's website and app for more than ten cities in North India including Delhi (NCR), Jaipur, Agra, Chandigarh, Rishikesh, Dehradun, Jammu, Shimla, Manali, Meerut and Alwar. Commenting on the launch, Venus Dhuria, Business Head, Cabs, ixigo.com, said: "Our primary objective has always been to simplify a t...

Naspers Invests $250 Million In ibibo For Extended Leadership

25Feb By AdityaNo Comments

FUNDING

Naspers Invests $250 Million In ibibo For Extended Leadership

Indian online travel venture Ibibo Group today announced that Naspers will invest USD 250m in the group, which will focus extending ibibo's leadership position in the Indian hotels category and on additional technology innovations. Ibibo processed more than 6.5m transactions for the period October to December (Q3) 2015. It is the largest online travel company in India, generating more than 2.5x the transaction volumes of its nearest competitor. The group owns integrated online travel properties such as Goibibo.com (India's No 1 hotels booking engine and also a leading air ticketing aggregator), and redBus.in (No 1 online bus ticketing platform). In a recent research report by Morgan Stanley, Goibibo was rated number one by hoteliers across a number of parameters, including booking...