China praises India's GDP growth..

China commends India’s GDP growth; says keen to invest more http://www.financialexpress.com/article/economy/china-commends-indias-gdp-growth-says-keen-to-invest-more/242184/ via NMApp

मन की बात

मन की बात: क्वालिटी एजूकेशन पर क्या बोले पीएम http://hindi.oneindia.com/news/india/mann-ki-baat-pm-modi-focus-on-quality-education-378524.html?utm_content=buffer12b15&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer via NMApp

FDI in India at record level

FDI in India reaches record $51 billion in 11 months of FY16: DIPP http://www.india.com/business/fdi-in-india-reaches-record-51-billion-in-11-months-of-fy16-dipp-1135132/ via NMApp

Penfolds honoured as ‘World’s Most Admired Wine Brand’

Penfolds has been recognised as the ‘World’s Most Admired Wine Brand’ by Drinks International in their annual poll, following a successful year of honours. Almost 200 international industry experts including buyers, sommeliers, wine writers, Masters of Wine, industry experts and wine critics took part in the poll which pits wine brands from all global regions, styles and qualities against each other. Peter Gago, Chief Winemaker, Penfolds exclaimed, “All at Penfolds are so chuffed with this global recognition – from those working in our vineyards and wineries, on our bottling lines, back-of-house in logistics, procurement and marketing, to our talented sales teams around the world who are at the coal-face selling our whites, reds and fortifieds. After 172 years in the wine business we’re still hungry, still excited and still eager to make better wine and champion new followers.” Drinks International’s acknowledgement builds on Penfolds evolving global recognition, including the 'Winery of the Year' award presented to Penfolds for the 25th year in a row by Wine & Spirits magazine in late 2015 – a world first. Last year Penfolds also received the outstanding honour for 1971 Grange, which was named the world’s best wine from the 1970’s by FINE magazine. Recognition continued in 2015 with Penfolds award for the International White Winemaker of the Year, by the International Wine Challenge. Source:http://www.hospitalitybizindia.com/detailNews.aspx?sid=24&aid=23678

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

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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