22 Sep 2023

Burger King, the second-largest burger chain in India, is in negotiations to establish an exclusive partnership with Coca-Cola, ending its decade-long association with PepsiCo. Coca-Cola's "COKE WITH MEALS" campaign, in collaboration with food delivery giants like Zomato and Swiggy, has prompted Burger King's interest in partnering to expand its reach. This move is expected to boost sales for both Burger King and Coca-Cola in dining and home deliveries. While the two brands have partnered in the United States, this marks a significant shift in India's fast-food landscape. The collaboration aims to offer a global fusion of burgers and beverages in 54 countries.Read more

21 Sep 2023

Samhi Hotels' IPO witnessed robust demand, being oversubscribed 5.33 times. The IPO, valued at Rs 1,370 crore, attracted bids for 33,30,05,911 shares against the available 6,25,29,831 shares. Qualified institutional buyers dominated the demand, oversubscribed by 8.82 times, while non-institutional investors subscribed 1.22 times and retail individual investors subscribed 1.11 times. Samhi Hotels, known for acquiring, developing, and operating hotels, holds a portfolio of 4,801 keys across 31 operational hotels. The IPO proceeds will be used for debt repayment and general corporate purposes. JM Financial and Kotak Mahindra Capital Company managed the offering.Read more

21 Sep 2023

Two new hotel brand names, Dusit Collection and Devarana - Dusit Retreats, have been introduced by Dusit International, a well-known Thai hotel and real estate development company. The Dusit Collection offers distinctive hotels in well-known locations with an emphasis on the upper affluent and luxury categories. Unique properties can now become a part of the Dusit family without requiring extensive repairs. A redesigned luxury brand called Devarana - Dusit Retreats provides ultra-luxurious experiences with a focus on holistic wellbeing and sustainability. These additions help Dusit achieve its worldwide expansion ambitions and meet changing consumer demands by providing Thai-inspired hospitality in a range of market categories.Read more

20 Sep 2023

India's Reliance Retail is in discussions with existing investors, including Singapore's sovereign wealth fund GIC, Abu Dhabi Investment Authority ADIA, and Saudi Arabia's PIF, to secure combined investments totalling around $1.5 billion. These talks are part of Reliance Retail's goal to raise $3.5 billion by the end of September. GIC, ADIA, and PIF are considering investments of at least $500 million each, valuing Reliance Retail at $100 billion. The company sold a 10.09 percent stake in 2020 for $76.8 billion, with GIC, ADIA, and PIF among the investors. Reliance Industries, its parent company, may also participate in the fundraising round.Read more

19 Sep 2023

Mahindra Holidays & Resorts is embarking on a significant investment in Uttarakhand, signing an MOU with the state government to build 4-5 marquee resorts with a whopping INR 1000 crore investment. This move aims to boost tourism while offering exceptional holiday experiences. It marks the company's largest investment in the region, promising eco-friendly resorts that align with their carbon neutrality vision by 2040. These resorts will set sustainability benchmarks, targeting net-zero energy, water, and waste. The CEO commended the government's support for tourism infrastructure. This initiative in "Devbhoomi" is set to drive prosperity, employment, and sustainable tourism while creating lasting vacation memories.Read more

18 Sep 2023

Prestige Estates is gearing up for an extensive mall expansion strategy, with plans for 11 malls totalling a massive 9 million square feet of leasable area. Over the past nine months, three malls have already opened, and several more are under construction. These upcoming malls aim to provide visitors with a comprehensive entertainment and cultural experience. Located in various Indian cities, including Goa, Kochi, Chennai, Hyderabad, Mumbai, and Bengaluru, these malls are strategically positioned to diversify Prestige Estates' real estate portfolio. With a growing trend of malls evolving into dining and entertainment destinations, these larger malls reflect changing dynamics in the retail industry, catering to evolving customer preferences. The malls are designed to offer a diverse range of entertainment and cultural experiences for visitors and customers, including a performing arts centre in Bengaluru.Read more

18 Sep 2023

DLF, a significant player in the Indian real estate market, projects a strong 19–20% increase in retail rental income from its malls in FY24. This prediction is supported by rising mall consumer spending and higher lease rental fees. With growth ambitions, DLF's retail portfolio could expand to 9.5 million square feet (msf) from its existing size of 4.5 msf. In order to take advantage of shifting retail dynamics, the company's strategy focus includes luring premium businesses and gourmet groceries to its malls. The revival of malls, which provide a variety of experiences beyond shopping, is consistent with larger trends in India's retail industry.Read more

18 Sep 2023

Christian Dior has leased retail space in Mumbai's Bandra Kurla Complex for 9.5 years, according to a leave and license agreement. The deal, signed between Reliance Industries Limited and Christian Dior Trading India Private Limited, grants Dior 3,317 sq. ft. of space with rent escalation provisions. Christian Dior entered the Indian market in 2006 and has a store in Mumbai. As India becomes a significant destination for international retail, luxury brands like Dior are drawn to the growing spending power of urban consumers and the expanding retail market.Read more

15 Sep 2023

Lenders to Bansi Mall Management Co Pvt Ltd, the owner of SOBO Central Mall in Mumbai's Haji Ali area, have initiated Sarfaesi proceedings to recover Rs 571 crore in dues. Canara Bank and Punjab National Bank (PNB) are the primary charge holders. PNB, along with Union Bank of India, also has a secondary charge over the company's assets. While the current valuation of the property is Rs 400 crore, there is potential for redevelopment and sale for over Rs 1,000 crore, offering hope for recovery amidst Future Group's financial struggles. Crisil had previously downgraded BMMCPL's credit rating due to weak liquidity.Read more

15 Sep 2023

Retail space stock in India's top seven cities experienced a 2% decline, falling from 90.6 million sq ft in June 2022 to 89.2 million sq ft in June 2023, according to property consultancy JLL. While 2.63 million sq ft of mall space was added during this period, around 4 million sq ft of organized shopping malls were either downgraded or closed. Delhi NCR and Mumbai account for more than 50% of the operational mall stock. However, the report predicts a 43% increase in shopping mall stock to reach 127 million sq ft by the end of 2027. The launch of India's first retail REIT, Nexus Select Trust REIT, backed by Blackstone, has attracted retail investors, offering significant potential for REIT-worthy retail assets across cities. Institutional investors are also showing interest, particularly in tier II and tier III cities.Read more