ITC INVESTING Rs1,000 CR IN 3 HOTEL PROJECTS
Article Abstract:
ITC Ltd is investing Rs1,000 crore in two hotel properties at Mumbai and one at Bangalore. Its investment will be in a Rs430 crore, 350 room hotel near the Sahar airport at Mumbai, a Rs250 crore, 400 room hotel at Bangalore and a Rs150 crore, 300 room four star hotel at Parel in Mumbai. The company is also expanding its existing hotel at New Delhi by 80 rooms at a cost of Rs50 crore. ITC Ltd has a 71 percent stake in ITC Hotels, which plans to invest Rs200 crore and construct a 250 room hotel at Calcutta and a 50 room hotel at Jaisalmer. (khr)
Comment:
Invests Rs1,000 crore in 2 hotel properties at Mumbai & 1 at Bangalore that incl Rs430 crore, 350 room hotel near Sahar airport
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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JAPANESE HOTEL MAJOR NICCO TO CHECK INTO INDIA
Article Abstract:
The Nicco chain of hotels, promoted by the JAL Hotels Company Ltd, is tying up with Sunnair Hotels (SH) of Delhi. SH is a Rs40 crore company promoted by SP Gupta. SH is entitled to set up the Nicco brand of hotels in India. Initially, SH will set up a 5- star hotel in Delhi. Later, it may build hotels in Mumbai, Calcutta, Chennai and Bangalore. The Nicco hotel in Delhi will be operational by March 1, 1999. SH has to pay 3 percent of the revenue as franchise fees and 5.5 percent of the operating profit as management fee to its partner. (rk)
Comment:
Is tying up w/ JAL Hotels, giving the company the rights to set up the Nicco brand of hotels in India
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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IDS BAGS MAJOR CONTRACT FROM GHANA HOTEL
Article Abstract:
Intellect Data Systems & Software Pvt Ltd (IDS) of Bangalore, which has developed software for hotels, has bagged contract from Labadi Beach Hotel of Ghana. Under the contract IDS will develop the property management system software, Fortune NT, for the hotel. Fortune NT is a graphical user interface product that works on Window NT platform. IDS holds 60 percent share in the Indian hospitality software market. (gs)
Comment:
Intellect Data Systems & Software Pvt Ltd (IDS) of Bangalore, which has developed software for hotels, has bagged contract from Labadi Beach Hotel of Ghana.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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