Category — Tourism & Hospitality

Hotel Industry to Grow at Least 9 percent this year

Live Mint quotes an ICRA report which ways that due to a modest increase in occupancy and a small increase in rates, the Indian hotel industry revenue growth is expected to strengthen to 9-11% in 2015-16.

Research firm  ICRA further added that over the next 12 months it expects RevPAR (revenue per available room) to improve by 7-8% ─ driven by up to 5% pickup in occupancies, and 2-3% growth in Average Room Rates. “This traction comes after almost two years of negligible supply addition,” said ICRA.

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February 25, 2015   No Comments

India’s Zomato Acquires Italy’s Online Restaurant Listing Services Cibando

Restaurant and event-listing site Zomato.com based in India announced its fifth acquisition – Cibando, the Italy-based web and mobile restaurant search services startup – following those of MenuMania in New Zealand, Lunchtime in the Czech Republic, Obedovat in Slovakia, and Gastronauci in Poland. The company is currently present in over 113 cities across 18 countries, including India, the UK, the Czech Republic, the UAE, South Africa, Sri Lanka and Qatar.

VCCircle.Com reports that Zomato is planning to invest $6 million in Italy over two years to grow its team and business. “Cibando is one of the largest restaurant search services in Italy. Its existing traffic and user base will give us a great start as we launch Zomato in the country,” said Deepinder Goyal, founder and CEO of Zomato.

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January 3, 2015   No Comments

Goldman Invests $40 Million in Indian Hotel Chain

Goldman Sachs, through an affiliate, has invested $40 million as equity in Vatika Hotels, a hospitality venture of the realty firm Vatika Group. Gurgaon-based Vatika Group did not disclose the equity stake.

The Siasat Daily reports that when contacted, Vatika Group president (Hospitality) Vineet Taing said, “We have received investment from Goldman Sachs. The equity stake is still being worked out.”

This announcement follows one on Vatika Group’s raising $25 million from Singapore‘s Sovereign Wealth Fund GIC to develop two residential projects along the  Dwarka Expressway, an alternate link road between Delhi and Gurgaon.

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January 3, 2015   No Comments

Papa John’s Expands Presence in India

Headquartered in Louisville, Kentucky, Papa John’s International, Inc. announced the acquisition of Pizza Corner stores in South India. This merger will significantly expand Papa John’s presence by a minimum of 40 stores with conversions beginning in late 2014 and continuing into 2015, reports restaurantnewsresource.com.

The Quick Service Restaurant segment in India is a $2.5 billion industry, accounting for 43 percent of the overall Food Services business in India and growing at a rate of approximately 25 percent; it’s the fastest growing segment within the food industry.

Joseph Cherian, CEO of GFA Global, of which Pizza Corner is a part, said, “This consolidation is a unique opportunity for Papa John’s to take a major pie in the market share in the Indian pizza segment. Owing to a majority of younger population under 30 with a liking for international food gives us the right opportunity to address the need gap for true international brands.”

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December 28, 2014   No Comments

Carl’s Jr., to Open Shop in India

CKE Restaurants Holdings, Inc., parent company of Carl’s Jr., and Hardee’s, signed a development agreement with India’s CybizCorp that owns BrightStar Restaurants Private Limited. The initial agreement is for up to 100 new Carl’s Jr., restaurants. The deal is the first in India for the burger chain that believes there is potential for more than 1,000 Carl’s Jr., restaurants in India over time.

Ned Lyerly, President of International at CKE Restaurants. “We see tremendous potential in the Indian market, and CybizCorp’s proven track record in the franchise sector in both real estate and food and beverage gives us great confidence in the partnership and our future success in the country.”

For India, Carl’s Jr. has developed a full line of vegetarian options that speak to Indian tastes and preferences. Many of these new items that are unique to the India market will be launched in addition to several signature Carl’s Jr., menu items known around the world.

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December 28, 2014   No Comments