Lemon Tree Hotels unveils India's largest hotel, the Aurika Mumbai Skycity with 669 rooms
Author : PNT Bureau
Lemon Tree Hotels inaugurated India's largest hotel, the 669-room Aurika Mumbai Skycity, marking their third property in Mumbai and under the Aurika Hotels & Resorts brand. Positioned near Mumbai airport's terminal 2, the expansion aligns with Lemon Tree's goal of reaching 20,000+ rooms, both operational and upcoming, in the next four years. Lemon Tree Hotels Chairman Patanjali G. Keswani emphasizes on meeting the rising needs of business and leisure travellers while revealing plans to add 1300 rooms across 15 cities and hire 3000 new staff, half for expansion and half for replacements....
Jewellery heavyweight Joy Alukkas ventures into IPO and expands global reach
Author : PNT Bureau
Joy Alukkas, a well-known name in the jewellery industry, is planning to go public after previous attempts in 2011 and 2022 were hindered by market conditions and regulatory delays. The family-run business aims to fund its expansion plans using internal accruals and bank loans. They expect a 22% increase in net profit, projecting it to reach Rs. 1,100 crore, and anticipate a 25 to 30% surge in revenue due to declining gold prices. Joy Alukkas is also eyeing international markets, with plans to achieve a revenue of Rs. 7,500 crore in 2024 and expand its presence in North India, Canada, and Australia....
Brewing Success: Costa Coffee's strategic expansion and partnerships in India
Author : PNT Bureau
Costa Coffee, a British coffee chain owned by Coca Cola, has identified India as one of its top 10 priority markets and plans to open 40-50 specialty coffee stores annually in the country. Since its establishment in India in 2005 through franchise partner Devyani International, Costa Coffee has steadily grown and recently celebrated the inauguration of its 150th store in New Delhi. The company is strategically partnering with entities like PVR-INOX multiplex chains and leveraging associations with events like the ICC Men’s World Cup to expand its reach. Costa Coffee sources all its coffee from the Chikmagalur and Coorg regions in Karnataka, emphasizing sustainability and local connections in its operations....
Reliance Retail Ventures secures major investment from ADIA subsidiary
Author : PNT Bureau
Reliance Retail Ventures is set to raise approximately Rs 4,966.80 crore from an Abu Dhabi Investment Authority (ADIA) subsidiary, marking a significant investment at a pre-money equity value of around Rs 8.38 trillion. This move propels Reliance Retail Ventures among the top four companies in India by equity value. ADIA, having participated in the retailer's 2020 fundraising round, will secure an additional 0.59% equity stake through this investment. The support from ADIA, along with recent funds from Qatar Investment Authority and KKR, reinforces confidence in Reliance Retail Ventures' growth trajectory and its role in transforming India's retail sector....
InterGlobe Hotels to invest Rs 550 crore in Mumbai & Bengaluru
Author : PNT Bureau
InterGlobe Hotels, a joint venture between InterGlobe Enterprises Pvt Ltd and Accor Asia Pacific, is expanding its presence in India with two new properties in Mumbai and Bengaluru by 2025, investing around Rs 550 crore. The 'Ibis’ Styles hotel is already open, and an 'Ibis' property in Mumbai will follow in 2023, with a Novotel-branded hotel in Bengaluru slated for early 2025. The company sees India's growth potential with a 2030 plan and an ambitious revenue target of Rs 1,100 crore for 2023, affirming its long-term commitment to India's growth over the next few decades....
Kishore Hospitality Group revives 1850s villa as Luxurious Elgin Hall Boutique Hotel in Dalhousie
Author : PNT Bureau
Kishore Hospitality Group has brilliantly transformed a historic 1850s villa in Dalhousie into the luxurious boutique hotel, Elgin Hall. The property boasts seven uniquely designed rooms, each with its own distinctive character, adorned with soft pastel hues and Victorian-inspired furnishings. Elgin Hall also offers a curated culinary experience that combines traditional North Indian flavours with global influences. Guests can enjoy the timeless British tradition of high tea in the charming tearoom. This transformation provides an immersive and unforgettable experience, preserving history while delivering contemporary luxury in the heart of Dalhousie....
Reliance Retail's valuation soars with key global investment partnerships
Author : PNT Bureau
Reliance Retail, India's largest retailer, has secured significant investments from global partners, including the Qatar Investment Authority and KKR, among others. These investments have more than doubled the company's valuation and resulted in a 30% surge in profits. With an extensive expansion plan, Reliance aims to open 55 new stores and grow its retail footprint across India. These strategic partnerships and funding injections are part of Reliance's strategy to bolster its presence in the Indian market and strengthen its position as one of the top retailers globally. The company has also partnered with international brands such as Burberry, Pret a Manger, and Tiffany & Co to enhance its offerings in India....
DLF builds India's largest shopping mall in Gurugram
Author : PNT Bureau
DLF, India's largest real estate company, is expanding its footprint in the retail sector with the construction of the eagerly anticipated Mall of India in Gurugram. With a projected investment of approximately Rs. 1,700 crores, this ambitious project will result in a massive 25 lakh square feet shopping mall. DLF already owns the land for this development, and the construction is set to begin this year. Despite the challenges posed by the COVID-19 pandemic, DLF sees potential in the resurgence of gyms, cinemas, malls, and shopping centers, and is well-positioned to meet the demand for organized retail shopping with its strategic land investments....
LOTTE India invests INR 185 crore in expanding Tamil Nadu production facility
Author : PNT Bureau
LOTTE India, a leading chocolate manufacturer, has invested INR 185 crore to expand its production facility in Tamil Nadu. The expansion will increase the production capacity for the company's Choco Pie range and reinforce its position in the Indian confectionery market. The facility expansion has created 200 new jobs, contributing to local employment opportunities. With an increased capacity of 1,420 tonnes per month, LOTTE India aims to meet growing domestic demand and explore potential export opportunities. This expansion highlights the company's commitment to maintaining safety, hygiene, and product quality standards while supporting its growth in the Indian market....
Saya Status Mall: A spectacular retail destination on the horizon
Author : PNT Bureau
Saya Status, located in Noida, is on track to become India's tallest mall, standing at an impressive 250 feet. Developed by the esteemed Saya Group, this iconic structure in Sector 129 showcases innovative architectural design across its nine floors and vast 1.1 million square feet of rentable space. With a budget of Rs. 2000 crore, the mall is set to be completed by January 2025. Already, it has secured leases with 30 leading brands, filling half of its retail space. The Saya Group's track record in quality construction is well-established, and Saya Status aims to revolutionize the retail industry, offering an unmatched shopping experience in India's tallest mall....
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