Qatar Investment Authority (QIA) has struck a deal to invest Rs. 8,278 crore in Reliance Retail, a key player in India's burgeoning retail sector. The strategic investment will grant QIA a 0.99% minority equity stake in Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited. RRVL operates an extensive network of over 18,500 stores across various segments in more than 7,000 cities. This collaboration aims to leverage QIA's global experience and Reliance Retail's strong presence to further elevate the company's position. The investment from QIA follows previous investments by other entities, including Saudi Arabia's Public Investment Fund and Abu Dhabi Investment Authority....
Wonderla Holidays to bring amusement parks to Punjab and Madhya Pradesh
Author : PNT Bureau
Wonderla Holidays, a leading amusement park chain, is in advanced discussions to expand in Punjab and Madhya Pradesh. Confident in its scalable model, the company eyes Chandigarh's untapped potential and evaluates locations in Indore and Bhopal. Ongoing projects include parks in Bhubaneshwar and Chennai, expected to complete in the coming years. With healthy cash flows and a debt-free standing, funding concerns are minimal. Wonderla plans to increase its workforce and explore international markets like Saudi Arabia and Sri Lanka within three years....
Relaxation experts Encalm Hospitality branch out to hotel business
Author : PNT Bureau
Encalm Hospitality, known for creating peaceful spots at airports, is embarking on a new venture by entering the hotel industry. Their first hotel, located at Hyderabad airport, will feature 58 rooms. Moreover, Encalm Hospitality has plans to construct another hotel at Goa's Manohar International Airport. Their ambitious vision involves establishing 21 relaxing lounges at airports and managing three hotels by 2025, aligning with India's airport expansion plans. Encalm's move stems from the observation that modern travellers desire comfortable spaces during their airport experience. This leap from airport spots to hotel construction signifies a significant evolution in their business strategy, promising exciting developments for the future....
ITC's hotel business demerger sparks high hopes for Indian hospitality industry
Author : PNT Bureau
The upcoming ITC board meeting's imminent agenda is the finalization of its hotel business demerger strategy, stirring significant anticipation within the Indian hospitality industry. Optimistic forecasts are resonating across hotel chains, brokerages, real estate circles, and rating agencies, highlighting a positive scenario characterized by rising occupancy rates and room tariffs – key industry health indicators. Despite Covid's profound impact, the sector has impressively rebounded domestically and internationally, supported by compelling statistics that underscore its recovery....
Patrons of a popular restaurant in Bandra find a rat in their meal
Author : PNT Bureau
In Mumbai, the manager and two cooks of a prominent Bandra restaurant were arrested after a customer complained of discovering a baby rat in his meal. The incident unfolded at Papa Pancho Da Dhaba, a renowned eatery known for its Punjabi cuisine over the last two decades. Anurag Singh found a baby rat in his chicken dish during a visit after shopping in Bandra. The manager and cooks were taken into custody by the Bandra police and charged under IPC sections 272 and 336. They were released on bail. The restaurant manager denied previous incidents and claimed intoxicated customers were involved. The legal battle continues between the customer and the establishment....
Retail Giant Deerika Hypermarket joins forces with Elan Miracle in Gurugram
Author : PNT Bureau
Deerika Hypermarket, a well-known retailer, has leased a prime retail space of 20,176 square feet in Gurugram's Elan Miracle. This commercial real estate project by Elan Group is set to be operational soon, offering a diverse shopping experience with renowned brands like Pantaloons, Zudio, and the largest Deerika outlet in the area. Deerika Hypermarket, known for its comprehensive range of household items, aims to provide convenience and quality to a wide range of customers. With their expansion plans and Elan Group's commitment to exceptional experiences, the collaboration promises a dynamic shopping destination....
Hyatt Group gears up to launch the Hyatt Centric in Kolkata
Author : PNT Bureau
Hyatt Centric is gearing up to open its second property in Kolkata, India, this time in Gariahat. As the city's first Hyatt Centric boutique hotel, this addition is set to bring modern, stylish, and luxurious accommodation to Kolkata's hospitality scene. Expected to open during the winter wedding season, the hotel will offer various amenities including dining options, event spaces, and panoramic rooftop views. Amidst the challenges posed by the pandemic, this move highlights the resilience of the hospitality industry and Kolkata's growing reputation as a destination for upscale travelers seeking a unique and immersive experience....
Lemon Tree Hotels joins hands with Space Builders for Zirakpur property
Author : PNT Bureau
Lemon Tree Hotel's President, Mr. Vikramjit Singh, has announced a partnership with M/S Space Builders & Promoters to acquire a new property in Zirakpur, Punjab. This venture expands Lemon Tree's presence in the town, marking its fourth hotel, with two more in the pipeline. The new property will be managed by Carnation Hotels. Anticipated to be operational by the second quarter of the financial year 2027, the hotel will feature 80 rooms, banquets, a conference room, a restaurant, a fitness centre, and more....
Pancard Clubs faces insolvency after investment scheme default
Author : PNT Bureau
Pancard Clubs, a company focused on hotel and resort development, has been ordered to undergo a Corporate Insolvency Resolution Process (CIRP) due to defaulting on investor repayments. Over 100 investors, seeking to recover Rs. 1.5 crore, filed a petition against the company. Pancard Clubs operated an unregistered investment scheme under the guise of a timeshare scheme, generating returns on investments. The company was directed to refund Rs. 7,035 crore to investors, leading to legal battles and property auctions. The court's decision emphasizes the importance of investor awareness to prevent such collective investment scheme scams....
The Leela Group of Hotels launches The Leela Ashtamudi, A Raviz Hotel, in Kerela
Author : PNT Bureau
The Leela Ashtamudi, A Raviz Hotel, marks The Leela Group's second entry into Kerala, India. Located by the tranquil Ashtamudi lake, the hotel provides a relaxing environment surrounded by lush greenery and coconut trees. With 93 rooms showcasing Kerala's Nalukettu aesthetic tradition, private plunge pool villas, and two traditional experiential houses dating back 200 years, the hotel offers a blend of modernity and tradition. Guests can enjoy backwater cruises on the houseboat named Mahayana. The dining venues offer mesmerizing lake views and a range of delicious regional dishes. The resort also offers Kerala Ayurveda and spa treatments for healing and relaxation, along with an outdoor pool and fitness centre....
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