New technological advancements in the Hospitality industry after the pandemic

 The COVID-19 pandemic has significantly impacted the hospitality industry, and many businesses have had to adapt to the new normal to survive. Here are some of the new technological advancements that have emerged in the hospitality industry in response to the pandemic:

Contactless Check-in and Check-out: Many hotels and vacation rentals have implemented contactless check-in and check-out processes to minimize the risk of transmission. Guests can now use their mobile devices to check-in, access their room keys, and make payments.

Mobile Room Keys: Mobile room keys allow guests to access their rooms without having to touch a keycard. This technology uses Bluetooth technology to detect when a guest is near their room and automatically unlocks the door.

Virtual Concierge: To reduce face-to-face interactions, many hotels have implemented virtual concierge services. Guests can now communicate with staff via text messaging or chatbots to request services or ask questions.

Air Quality Monitoring: Many hotels have started using air quality monitoring systems to ensure that the air in their buildings is clean and safe for guests. These systems can detect pollutants, humidity, temperature, and other factors that affect air quality.

Robotics: Some hotels have started using robots to perform tasks such as cleaning, room service delivery, and luggage handling. These robots help reduce the need for human interaction and can operate 24/7.

Contactless Payments: Contactless payment methods such as mobile payments and QR codes have become more popular in the hospitality industry. Guests can now pay for services and products without having to touch cash or credit cards.

Online Menus: Many restaurants and cafes have started using online menus to minimize the handling of physical menus. Guests can access the menu via their mobile devices or scan a QR code.

Social Distancing Monitoring: To ensure that guests are adhering to social distancing guidelines, some hotels have implemented social distancing monitoring systems. These systems use sensors and cameras to monitor guest movements and alert staff when social distancing rules are being violated.

Overall, these technological advancements have helped the hospitality industry to adapt to the challenges posed by the COVID-19 pandemic and provide a safer and more convenient experience for guests.

Dishes to be enjoyed while celebrating UGADI 2023

 UGADI is a major festival celebrated in the states of Andhra Pradesh, Telangana, Karnataka, and parts of Maharashtra. It marks the beginning of the New Year as per the Hindu lunar calendar. On this auspicious day, people prepare a variety of traditional dishes and sweets to share with their family and friends. Here are some popular dishes prepared during UGADI:

Ugadi Pachadi: It is a special dish prepared on this occasion and is made with raw mango, tamarind, jaggery, neem flowers, and chilli powder. This dish symbolizes the six different emotions one can experience in life - sweet, sour, salty, bitter, tangy and spicy.

Bobbattu/Puran Poli: It is a sweet flatbread made with a filling of jaggery and coconut, or chana dal, and is served with ghee.

Holige/Obbattu: It is a sweet dish made with a filling of coconut or lentils and jaggery, stuffed inside a dough made of wheat flour or maida.

Pesarattu: It is a savory pancake made with green gram, rice, and spices. It is typically served with ginger chutney or coconut chutney.

Pulihora/Tamarind Rice: It is a tangy rice dish made with tamarind juice, rice, and spices.

Vada: It is a deep-fried snack made with urad dal and spices. It is usually served with coconut chutney or sambar.

Payasam: It is a sweet pudding made with milk, sugar, and vermicelli or rice.

These are some of the popular dishes prepared during UGADI. However, the specific dishes prepared may vary depending on the region and the family's traditions.

Proost69 Beer launches in Delhi

Grano69 Beverages has announced the launch of its beer offering, the Proost69 White Ale in September followed by Proost69 Mild Lager in December. The brand has set its foot in Delhi with outlets like 100% Rock, Warehouse Café, The Beer Café, The Lord of the Drinks and more.  

The first two variants introduced by Proost69 are the Proost69 White Ale and Proost69 Mild Lager. The company is introducing Proost69 Weizen Beer and Proost69 Strong Lager. 

Tarun Bhargava, The Co-founder and director of Proost69, said “We, at Proost69, are excited to announce the launch of a beer with a taste so elite yet affordable filled with freshness and uniqueness. With our focus on providing and maintaining the top-notch quality, our flavour balances are just enough to create magic. All that goodness with supreme European craftsmanship is a level-up in itself.” said Bhargava.

Proost 69 White Ale and Mild Lager available in Delhi are priced at INR 170 per pint and at INR 150 for a 500ML can.

Source: Hospitalitybizindia.com

White Owl launches Bottled Beer in Delhi

Mumbai-based Microbrewery White Owl launched its bottled craft beer in Delhi. After the introduction of its craft beer in Bottles & Cans in Mumbai, Pune, Goa and Bengaluru last year, White Owl finally made its way to north, launching its top-selling brews – ‘Spark,’ a Belgian Wit with Summery Orange-Citrus notes and ‘Diablo,’ an Irish Red Ale, loved for its Roast Caramel finish – in Bottles in Delhi.  

White Owl will also introduce its beer in Cans in Delhi shortly. Ace, its Apple Cider Ale (also the only locally-bottled Cider Ale available in India today) and Spike, its Strong German Wheat Beer are also expected to launch in Delhi in the first half of 2019. Bottles of Spark and Diablo are now available over 250 locations across Delhi. 

Javed Murad, Founder of White Owl said, “White Owl is at an exciting stage of its journey with a series of new developments that we are thrilled to announce soon. Our launch in Delhi is our first foray into North India and we remain committed to taking our award-winning brews to many more markets to cater to the growing demand for top quality premium beer across India.”

White Owl has launched Spark at an MRP of INR 110 and Diablo at INR 130, per 325ml bottle respectively.

Source: Hospitalitybizindia.com

HRAWI concludes its 13th Conclave of FSSAI

The Hotel and Restaurant Association of Western India (HRAWI) recently concluded its 13th Conclave of Food Safety and Standards Authority of India’s (FSSAI) Food Safety Supervisor Training in Advance Catering in Mumbai. The programmes were conducted  at The Emerald Hotel in Juhu and at the Institute of Hotel Management in Dadar respectively on October 10 and 12, respectively. Eighty hospitality professionals participated in the training sessions. As per the  HRAWI release,  the association has so far conducted a total of twenty-five Food Safety Training and Certification (FoSTaC) programmes through which 880 hospitality professionals have been trained and certified for the Western region.

“The objective of conducting these training is to equip hospitality professionals, especially those working in F&B with all necessary information to maintain food safety. It is a great initiative by the FSSAI and is in line with its aim of standardisation quality of food served at hotels and restaurants across the country. It is critical for professionals who handle food to be updated about developments in the field to ensure health and hygiene are maintained at all times. With this hand in hand initiative with the FSSAI, the Association is making rigorous efforts in training and certifying as many professionals as possible to cover the entire Western region before the year-end,” says Mr. Gurbaxish Singh Kohli, President, HRAWI.

The programme is one of the biggest initiatives taken by the Association to raise awareness on food safety and to improve the quality of food and beverages served at hotels and restaurants. 

Source: Hospitalitybizindia.com

Jet Airways becomes the first Indian airline to partner with Airbnb

Airbnb, the world’s leading community-driven hospitality company, today announced its first airline partnership in India with Jet Airways, India’s premier international airline. This adds momentum to the growth of Airbnb’s footprint in the Indian market by focusing on establishing a deeper connect with the new age Indian travellers who seek unique travel experiences. 

To announce this exciting partnership, Jet Airways is running a contest on its website www.jetairways.com, where 5 lucky winners have a chance to win free couple flight tickets from Jet Airways together with a stay coupon worth Rs 35,000/- from Airbnb. To be eligible for the contest, all that guests in India need to do is to book a Jet Airways flight to any of the 64 destinations on its network between August 23 and September 1, 2017.

 In another inaugural offer, the first 100 Jet Airways’ guests booking their accommodation with Airbnb via the Jet Airways website, also receive 10 percent off . In a separate, limited period offer from Airbnb, travellers can get a 10 percent discount for their Jet Airways flight booking via a promo code.

 Speaking about Airbnb’s first-of-its-kind partnership with an Indian airline, Amanpreet Bajaj, Country Manager – India, Airbnb, said, “Airbnb’s philosophy is centered on providing unique experiences to modern day travellers, who seek newer and more interesting ways to travel. Indian travellers have become more decisive and are keen to break away from conventional means of travel and accommodation. Airbnb has been committed to building local partnerships which enable us to strengthen our connect with the Indian audience. With this partnership, Jet Airways fliers who are also Airbnb travellers will be able to enjoy the added-value they receive from being associated with two dynamic brands.”

 Giving his views on this partnership, Jayaraj Shanmugam, Chief Commercial Officer, Jet Airways said, “An increasing number of Indian travellers are embracing the fresh and highly personalised experiences that a platform like Airbnb offers. Our focus on being innovative and offering differentiated travel experiences enables us to anticipate the changing needs of our guests and recognize trends much earlier than the market, thus allowing us to offer exciting travel related initiatives. We are delighted to be the first Indian airline to partner Airbnb, and look forward to creating more of such innovative experiences for our guests.”

Source: http://www.hospitalitybizindia.com/detailNews.aspx?sid=22&aid=27573

Bira 91 bags four awards at the World Beer Awards 2017

Bira 91 a beer brand from India, recently bagged four awards at the World Beer Awards held in London in August, 2017.

 

The World Beer Awards is an important platform for the beer-makers to be recognised globally. With a panel of over 100 judges reviewing 1900 entries from 80 countries, they lookout for best of the best, Bira 91 has swept through the awards and each of its four beers – Bira 91 White (Wheat Ale), Bira 91 Blonde (Lager), Bira 91 Light (Low Calorie Lager ) & Bira 91 Strong (Strong Ale) have won in their respective country awards. 

According to the release, Bira 91 is the only brand to have won four awards in the competition, and also the only award winner from India.

Source:http://www.hospitalitybizindia.com/detailNews.aspx?aid=27558&sid=1

Sula launches India’s first Grape Spirit based Whisky, ECLIPSE, in Delhi market

Sula Vineyards, through its wholly owned subsidiary, Artisan Spirits, has launched India’s first Premium blended whisky with Grape Spirit base, ECLIPSE, in the Delhi market.  The company announced their aggressive diversification into the premium liquor category at a special event for the trade in the National Capital this week.

After adding grape-based Brandy,’ Janus’, and ‘J’, the launch of Eclipse, a premium whisky with Grape  spirit base, is considered a strategic move by the company towards product diversification.  Eclipse has distribution rights in Delhi, Andhra Pradesh, Goa, Puducherry, and Telangana currently.  

Speaking to Hospitality Biz at the launch event, Nick Pringle, COO, Sula Vineyards said that the company has yet again proved its spirit of innovation by introducing a “pioneering product”.  “It’s a tough market and in a tough market it is important to keep innovating and give consumers something new. Eclipse is the first Grape spirit based whisky to come into the market,” he said.

Talking about the product, Pringle said that while its grape spirit base makes it unique, it is blended with quality malt matured in French oak. “That gives the product the quality finish and premium presentation,” he added.  He said that Eclipse has received good feedbacks from connoisseurs at blind tasting sessions.

When asked about distribution, Pringle said that they will be rolling it out “carefully and strategically” pan India in the coming months. “We have got distribution rights in few places. Idea is to go very carefully,” he said.

Eclipse comes in an elegant bottle with a tamper proof ‘Fabrizio cap’ that ensures excellent and smooth flow of the liquid from the bottle. 

Fratelli Vineyards showcases 29 wines from five countries at the Taste of the World show

Fratelli Vineyards, one of India’s leading producers of premium quality wines, showcased 29 wines from nine wine houses spread across nine countries of the world, at the recently held Taste of the World International wine showcase event held in Delhi. The event held at the Hyatt Regency Delhi, had on offer an extensive array of wines from across the globe, accompaniments including hors d’oeurves, and other enjoyable food. Wine tasting counters were located around the venue featuring a mix of old and new world wines from Australia, France, Italy, Chile, California along with the domestic range of SETTE, VITAE and M/S- Master’s Selection from Fratelli Vineyards. There were a list of new labels added to the Fratelli Vineyards portfolio including JCB a collection of rare numbered wines composed by Jean- Charles Boisset, DeLoach California’s pioneering producer of wine, Cecchi , the Italian leaders in the wine world, Molly Cradle Australia’s boutique wines from some of the most prestigious regions and more. Fratelli Vineyards also displayed its soon to be launched SETTE in Magnum bottles which will be available at premium liquor stores soon. Guests were seen taking pleasure in live jazz performances during the event. Speaking on the successful third edition of Taste of the World, Kapil Sekhri , Director at Fratelli Vineyards said, “Taste of the World is a true indulgence for those that enjoy savouring good wine and food in a contemporary setting. The event has seen a terrific response since 2014, and ever since has been evolving with time. We do have plans to take this one of a kind experience to other cities in India as well.” Presence of Jean- Charles Boisset, proprietor at the Boisset Collection, who is referred to as the James Bond of the wine world, was the main attraction of the Taste of the World show this year. “I am absolutely thrilled to be associated with Fratelli Vineyards and have JCB and DeLoach wines as a part of this prestigious event- Taste of the World. It is a pleasure to see brands from different regions that have significantly contributed to the industry come together,” Boisset said. Source: www.hospitalitybizindia.com

What does a $22,000 cognac actually taste like?

Want to feel the warm, gently percolating inner glow of a fireside cognac this Christmas? If a bottle of Remy Martin VSOP for $35 is just très ordinaire, why not make a splash with a bottle of Remy Martin Louis XIII Rare Cask 42,6? At $22,000 a bottle (sales tax not included), however, you may need to take out a mortgage. After 100 years in the cask, and seeing out the careers of four different cellar masters, the cognac cask was dusted off in 2009 by cellar master Pierrette Trichet.

Three years later in 2012, she declared that the cognac had reached perfection and the cask was tapped to produce just 738 decanters. This particular decanter is 460 of the 738 available. Cellar master Pierrette Trichet, checks the quality of a cognac barrel. Cellar master Pierrette Trichet, checks the quality of a cognac barrel. The 42,6 represents the 42.6% alcohol that makes up the blend -- the comma in the decimal place marking out its European provenance. St. Regis Atlanta bought the bottle, made of black Baccarat crystal with a rose gold neck band, back in 2012. Source: CNN.com

Cafe Coffee Day launches range of six burgers in international flavours

International Burger Carnival is the new addition to Cafe Coffee Day’s (CCD) menu. It comprises six burgers - three vegetarian and three non-vegetarian - in international flavours. Patrons will be served two burgers per plate, and the price starts from Rs 110. The vegetarian options include Afghan-e-Paneer, Egyptian Falafel and American Crispy. Afghan-E-Paneer comprises Afghani paneer tikka grilled in butter masala with cheese, onion and lettuce layers in a peri-peri seasoned bun. Egyptian Falafel comprises a falafel patty with mozzarella cheese and hummus set in a bun with peri-peri seasoning. American Crispy comprises a vegetarian patty with cheese. It is served with red onions, lettuce and chilli salsa, topped with nacho chips in a seasoned bun. The non-vegetarian sliders include African Pepper Chicken, Egyptian Roast and American Classic. African Pepper Chicken is a burger comprises chicken cubes in a pepper sauce, topped with red onions and lettuce. Egyptian Roast is a roast chicken burger with mozzarella cheese, onions and mayonnaise. It is wrapped in a hot bun. American Classic comprises a bun filled with a chicken patty, lettuce, onions and mayonnaise. Venu Madhav, chief executive officer, Coffee Day Global Limited, said, “CCD lovers know how we strive to create experiences that are both delicious and delightful. After the successful launch of winter beverages, Magical Brews, it is food that takes centrestage at CCD.” “With the youth’s love for burgers, which is gaining popularity, we bring to them International Burger Carnival, a range of scrumptious burgers in authentic international flavours,” he added. “Whether its the Egyptian Felafel or the spicy African Pepper Chicken or the Afghan-E-Paneer, every preparation is crafted to exemplify a unique taste. We are sure the young customers of CCD will enjoy our latest offerings,” Madhav said. Source: www.f&bnews.com

TOURISM & HOSPITALITY SECTOR SKILL COUNCIL

Tourism & Hospitality The Government of India has set itself the mission of making India the skill capital of the world. Ministry of Skill Development has been tasked with the vision of creating a skilled India. It is aided in these initiatives by its functional arms – National Skill Development Agency (NSDA), National Skill Development Corporation (NSDC), National Skill Development Fund (NSDF) and 33 Sector Skill Councils (SSCs) as well as 187 training partners registered with NSDC.Tourism and Hospitality Sector Skill Council (THSC) is part of the same structure assigned with the task of skilling India in the Tourism and Hospitality sector. Tourism and Hospitality has been identified as one of the important sectors, which is going to generate significant employment opportunities for the skilled population of India. Making the job seekers employable in this sector in order to bridge the skill gap is the key objective of THSC.

Leela group scion Amruda Nair starts hospitality brand in Qatar

Amruda Nair, granddaughter of Leela Hotels founder Captain Krishna Nair has recently signed a joint venture with Faisal bin Qassim Al Thani, chairman of Al Sawari Holding to launch Aiana Hotels & Resorts, Nair's own hospitality brand in Qatar. The new joint venture company Aiana Hotels & Resorts L.L.C will be the first Asian-inspired hotel in Qatar and represent a hospitality brand of high-end luxury hotels, resorts and serviced apartments in the Middle East, Indian Sub-Continent and South East Asia. The joint venture brings together the resources and entrepreneurial skills of Al Thani, who is also the chairman Qatari Business Association, with the hospitality expertise of Nair, herself a third generation hotelier. “Given the long standing relationship between Qatar and India, there is great synergy in the similar way that we travel. This is why we want to bring Aiana as a new lifestyle hotel brand to the Middle East and will continue to support Aiana through our ambitious expansion plans for acquisitions in key destinations starting with the property in Doha with many more to follow in Western Europe (London) and US,” Al Thani said at the launch. “With the launch of Aiana Hotels and Resorts, I am delighted to be introducing a brand I am confident will become the preferred choice of travellers seeking authentic and immersive experiences that will stay with them long after they have checked out. I was fortunate to meet Sheikh Faisal who shared my passion for hospitality and supported my dreams and ambitions of creating an Indian brand with a global presence. Our service, design, and operating philosophy is geared to exceed the expectations of a new generation of savvy travellers. We call it Hospitality 2.0,” Nair said. Aaina Hotels will start with a hotel in Doha, Qatar, and has plans to eventually manage five hotels in India and an equal number elsewhere

FREE HOTEL MANAGEMENT TRAINING TUTORIALS

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All these training Manuals are available here: http://www.hospitality-school.com/training-manuals/

MakeMyTrip targets 50% market share in online hotel booking business by 2019

MakeMyTrip Limited, an online travel agent (OTA), announced an agreement under which Ctrip.com International, Ltd., a leading travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management in China, has agreed to make an investment in MakeMyTrip. Upon completion of the transaction, Ctrip will invest US$180 million (INR 1,200 crore) in MakeMyTrip through convertible bonds. The funds will go towards aggressively increasing MakeMyTrip’s market share in the online hotel booking space from 25% to 50% in the next 3 years, Deep Kalra, Founder and Group CEO, MakeMyTrip told The Times of India.

"The market has changed. A couple of players raised money and started the discounting game. Discounting has power, as you may have seen from the game by e-commerce players. We had to respond," said Kalra. "Apart from investing in our mobile tech space, we will venture into new categories such as pilgrimages and adventure travel that have great potential for us," he added.

In addition, MakeMyTrip has granted Ctrip permission to acquire MakeMyTrip shares in the open market, so that combined with shares convertible under the convertible bonds, Ctrip may beneficially own up to 26.6% of MakeMyTrip's outstanding shares. Upon completion of the investment, Ctrip will acquire the right to appoint a Director to the MakeMyTrip Board of Directors.

The company will focus on further strengthening its leading market share in the Indian online travel market by offering customers the best mobile booking experience across its full service travel products platform, especially as rising smart-phone penetration is driving an inflection point in India's online travel opportunity.

Kalra added, "We are delighted to have Ctrip invest in us. Ctrip is the dominant market leader in the online travel market in China. We believe there are many similarities in the Indian and Chinese online travel markets and we expect this strategic relationship between two market leaders to be mutually beneficial."

James Liang, CEO and Co-Founder, Ctrip commented, "Today's announcement marks the beginning of the strategic relationship between Ctrip and MakeMyTrip. Through this transaction, Ctrip has now gained exposure to India's fast growing online travel market."

Source: Hospitalitybizindia.com

HENNESSY COGNAC NAMED WORLD'S TOP PERFORMING SPIRIT BRAND

Hennessy, the world’s best-selling Cognac, has just emerged as the number one performing global spirit for 2014, according to UK-based International Wine and Spirit Research group (IWSR).

Hennessy, which has consistently posted growth for the last 50 months, has been recognized by the IWSR as a top 3 global brand since 2012. Earning the #1 spot on the annual list is especially exciting as the brand celebrates its milestone 250^th anniversary this year.

McDonald's India to double outlets with Rs 750 crore investment

As per a PTI news report, McDonald's India is stepping up its operations in western and southern markets of the country by doubling its outlets with an investment of Rs 750 crore in the next five years. "We currently have 213 restaurants and are looking to add up to another 250 restaurants by 2020, which would entail an investment of Rs 750 crore," said Amit Jatia, Vice Chairman, Westlife Enterprise, a master franchisee for McDonald's. It will continue to focus on its top six metros in the West and South, Jatia said, which brings over 65 per cent of the business.

The company's overarching strategy now is to offer ‘healthier beverages’ to customers here. "We are now betting big on our coffee. We have opened McCafe's within our outlets serving premium locally sourced Arabica coffee at affordable prices," he said. "We offer a range of smoothies, besides coffees and this encourages customers to opt for non-carbonated drinks," he added. Started last year in the country, there are about 45 McCafes, which in the next two years is expected to go up to 140, he indicated. The company will spend invest Rs 20 lakhs to Rs 30 lakhs per outlet, to set up McCafes

Paytm eyes Rs 500 crore revenue from hotel booking over next 6 months

As per a PTI news report, digital payments company, Paytm has expanded its platform to allow customers to make hotel bookings and expects revenue of Rs 500 crore from the service over the next six months.The Alibaba-backed company has partnered with players such as Goibibo, Ezeego1 and TSI-Yatra for the new service. 

"Travel has emerged as a very important category for us as the penetration of online booking is still very low in this vertical. The opportunity for the hotels category is immense, especially because the transaction penetration is still low in Tier II and III cities as far as travel concerned," Vijay Shekhar Sharma, Founder and CEO, Paytm. In the first phase, Paytm will offer an inventory of about 20,000 hotels to users and the number is expected to go up to 35,000 in a short time after launch. 

"In the first phase we have partnered online travel portals like Goibibo, Ezeego1, TSI Yatra, Via for domestic hotel booking. In phase 2, the plan is to offer international hotels by tying up with leading platforms like Expedia and Booking.com," he said. 

With the launch of this segment, Paytm will drive usage from these areas, causing a huge disruption in the travel space, he added. "We expect this segment to contribute Rs 500 crore to the revenue over the next six months," he said. Currently, the eCommerce platform also allows users to book bus tickets. (Source: PTI)

Paytm announces India's biggest Online Food Festival

Paytm, India’s leading mobile commerce platform, announced biggest ever Online Food Festival from October 9 to 11, 2015.The festival will offer widest selection of cuisines, exciting offers to customers who order from over 20,000 restaurants and chefs spread over 100+ cities in India through multiple online and offline food partners of Paytm's mobile wallet. Paytm expects to triple the traction for its food category during the festival period.

 Speaking on the festival, KiranVasireddy, Senior Vice President – Business, Paytm said, “We are thrilled to present our first Online Food Festival this October. By offering widest variety of cuisine along with exceptional deals and discounts to our user base, our larger objective is to generate greater awareness and traction for food ordering in India. We wish to make transactions in this space cashless and help consumers discover how convenient, efficient, engaging and rewarding it is to order grub with a few clicks.” 

Paytm has tied up with leading Indian online food ordering platforms such as Foodpanda, Dominos, Zomato, Swiggy, Faasos, Tiny Owl and Holachef along with Offline QSR chains such as Pizza Hut, Costa Coffee and Vaango to make this festival truly attractive for consumers.

Leela Hotels in Goa, Chennai up for sale

According to a report in Mint, at least five top international private equity firms, family offices and endowment funds are in the race to buy hospitality group Hotel Leelaventure Ltd’s five-star hotels in Goa and Chennai. Two persons, including one who is directly familiar with the negotiations, confirmed this, adding that the sale of the two properties is likely to be completed before Christmas.

Marquee private equity investors such as the Blackstone Group and Brookfield Asset Management, along with a few family offices and international endowment funds from the US, Europe, West Asia and Singapore have evinced interest in buying the two Leela hotels, currently under the control of financial services conglomerate JM Financial Group’s asset reconstruction firm JM Financial Asset Reconstruction Co. Pvt. Ltd, according to the two persons. 

“The Chennai and Goa five-star hotels are two of the finest properties of The Leela Group. Many investors have shown keenness in the two properties. Five of them have been shortlisted. While some buyers intend to completely buy out one of the two hotels, other players are interested in buying majority stakes in both the properties. The deal is in the final stages and is likely to be closed by December,” said one of two persons cited above, on condition of anonymity. 

With 206 guest rooms and suites, The Leela Goa, built in 1991, is spread across 50 acres at Cavelossim on Mobor beach in South Goa. It is one of the best performing hotels of the group. The Leela at Chennai was opened in September 2012. The hotel, with 326 guest rooms, is built on 4.8 acres of land. While the exact size of the deal is yet to be ascertained, the two persons cited above said the Chennai property is valued at around Rs.1,300 crore and the one at Goa is worth INR.200-300 crore. 

Replying to an email, a JM Financial spokesperson said, “As a policy, we do not comment on speculation.” The Blackstone Group, too, replied saying, “As a matter of policy, Blackstone does not comment on media/market speculation.” A Hotel Leelaventure spokesperson declined to comment. And, an e-mail sent to Brookfield Asset Management did not elicit any response. The two hotels were taken over by JM Financial Asset Reconstruction Co. in July 2014 from a consortium of banks led by State Bank of India after the lenders restructured Hotel Leelaventure’s debt (taken for building the two hotels) under the corporate debt restructuring (CDR) mechanism. 

“Post the purchase of loans against Leela properties from the banks last year, JM Financial Asset Reconstruction Co. got two board positions in the company. Over the past year, costs of running the hotels have been brought under control to optimise the performance of the hotels and improve margins. Even after the sell-off of the two hotels, the current management at the two Leela hotels is likely to be retained; the way the existing team works will continue and the Leela brand too will be retained,” said the first person. 

A senior hospitality consultant, requesting anonymity, said Hotel Leelaventure is desperate to reduce its debt burden and a divestment will create a positive impact on the hospitality and banking sector as a whole as the company features at the top of the list of indebted hospitality firms. “However, the Leela brand is strong and robust. The international investors would want to retain the Leela brand post sale,” the consultant, who advises several hotel groups, said. 

Based in Mumbai, The Leela Group owns and manages eight properties in prime urban locations and holiday destinations across India, including Mumbai, New Delhi, Gurgaon, Bengaluru, Chennai, Goa, Udaipur and Kovalam. New properties are under development in Bengaluru, Jaipur, Agra, Lucknow and Kathmandu, among other places. On 2 March, Hotel Leelaventure announced plans to sell its properties in Goa and Chennai to cut debt. 

The company said it plans to divest select hotels while continuing to grow through managing and operating new hotels. JM Financial Asset Reconstruction Co. paid around INR865 crore to the lenders to buy a number of properties of Hotel Leelaventure across India, including the Chennai and Goa five-star hotels. 

The amount paid by JM Financial Asset Reconstruction Co. was about 20% of the total sum, for loans to Leela hotels. The transaction helped the consortium of banks sell 98% (INR.4,100 crore of the overall dues of INR.4,200 crore) of exposure to Hotel Leelaventure. As per the CDR terms, the company had to reduce its debt through sale of assets. Troubled loans are usually referred to the CDR cell of lenders after a majority of them approve a recast, which could entail a lower interest rate, a longer repayment period, or the conversion of overdue interest into loan principal. 

In 2011, Hotel Leelaventure sold off its luxury hotel Leela Kovalam in Kerala for INR.500 crore to Travancore Enterprises. In 2013, it sold its IT Park Building in Chennai for INR.170.17 crore to Reliance Industries.
Source: http://www.hospitalitybizindia.com