HYATT'S SIXER
Article Abstract:
Hyatt International plans to set up 5 more hotels in India in addition to its existing hotel at Delhi. It has planned an investment of $60-70 million to set up two hotels in Mumbai, one in Goa, two in Calcutta and one more in Delhi. The company plans to hold a stake in one hotel each in Mumbai and Calcutta and a management agreement with the rest. This expansion comes at a time when occupancy rates have declined to an average of 55 percent from about 90-95 percent in 1997. The company estimates that India's inbound traffic is about 700,000 people and that the current slowdown in the hospitality sector will improve. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CENTAUR HOTELS SET FOR STRATEGIC SALE IN JAN
Article Abstract:
The Government of India has decided to sell its Centaur hotels in Delhi, Mumbai and Juhu in January 1999. Centaur hotels are part of Hotel Corporation of India. The Government hopes to raise Rs2,000 crore through the sale of these three hotels. With this strategic move the Government will be able to achieve its targeted divestment level. The Government is determined to proceed with its divestment plans even in poor market conditions. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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