IHCL Buys Into Clarks Hotels: What CEO Told Analysts About the Deal
CFO Ankur Dalwani said the total investment is over INR 2 billion ($23 million), split between INR 1.1 billion ($12.5 million) for ANK and INR 940 million ($10.5 million) for Pride. About 80% of the funds will go directly into the companies to pay for upgrades, renovations, and shifting some hotels from management contracts to revenue-share models.
The current owners will keep 49% and continue running the companies, with IHCL providing management oversight. IHCl said it expects the deal to close before fiscal 2027.
The acquisitions w
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Indian miner IREL seeks Japan, South Korea partnerships for rare earth magnet production
By Neha Arora NEW DELHI (Reuters) -India's state-owned miner IREL is seeking to collaborate with Japanese and South Korean companies to start commercial production of rare earth magnets, a source familiar with the matter said, as part of efforts to reduce reliance on China. The company is looking at both Japan and South Korea for rare earth processing technology, potentially through government-to-government channels, the source said, declining to be named as the discussions are not public. The miner aims to formalise talks with other countries on rare earth mining and technology partnerships and plans to seek IREL board approval for commercial magnet production this year, the source said. IREL and the Department of Atomic Energy, which oversees the company, did not respond to requests for comment. India currently lacks commercial-scale facilities to refine and separate the full range of rare earth elements to high-purity levels. China, which controls the bulk of global rare earth mining, suspended exports of a wide range of rare earths and related magnets in April, upending the supply chains central to automakers, aerospace manufacturers, and semiconductor companies among others that use them. IREL has also approached Toyotsu Rare Earths India, a unit of Japanese trading house Toyota Tsusho, to seek help in reaching out to companies in Japan for processing of rare earth materials, the source said. The source said IREL had an initial meeting with Toyotsu to explore whether it could engage Japanese magnet manufacturers, with one proposal involving the possibility of a Japanese company setting up a plant in India. Toyota Tsusho and Toyotsu Rare Earths India did not immediately comment. Japan's Ministry of Economy, Trade and Industry, in charge of rare earths, did not immediately respond to a Reuters email seeking comment. In June, Reuters reported that India asked IREL to suspend a 13-year-old rare earth export agreement with Japan to conserve domestic supplies. IREL is prepared to supply rare earth element neodymium oxide to a technology partner, who would then produce the magnets and send them back to India, the source said. The state miner currently has the capacity to produce 400–500 metric tons of neodymium annually, the source said, noting that output could increase depending on the terms of the collaboration. IREL also plans to expand domestic rare earth mining and processing. In India, rare earth mining is restricted to IREL, which supplies the Department of Atomic Energy with materials for nuclear power and defence-related applications. The company is also exploring potential rare earth mining opportunities in Argentina, Australia, Malawi and Myanmar, the source said. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
2 hours ago
- Yahoo
The Braff Group Advises IV Solutions, LLC in its Sale to Singlepoint Healthcare
PITTSBURGH, Aug. 14, 2025 /PRNewswire/ -- Singlepoint Healthcare, a portfolio of DFW Capital Partners announced last week the acquisition of IV Solutions, LLC (IVS), a leading provider of clinical pharmacy and home infusion services in Wood Dale, Ill. This acquisition helps establish a strong foundation for Singlepoint's integrated model and provide access to critical expertise in both clinical care and pharmaceutical services. The Braff Group served as the exclusive financial advisor for IV Solutions, LLC. Singlepoint is backed by DFW Capital Partners, a New York-based investor focused on partnering with growth-oriented healthcare and business services companies. The firm works alongside experienced management teams to accelerate expansion, enhance operations and build durable, scalable platforms that deliver long-term value. The company's initial platform includes The Boster Center for Multiple Sclerosis and IV Solutions. "IVS fit seamlessly into the Singlepoint Health multi-specialty network and allowed for the immediate growth of the Singlepoint model," commented Pat Clifford, The Braff Group Managing Director that headed up the deal team representing IV Solutions, LLC. About The Braff Group: Founded in 1998, The Braff Group is the leading health care advisory firm specializing exclusively in behavioral health, home health, home care and hospice, health care staffing, home medical equipment and pharmacy services. The firm has completed over 385 transactions and has been repeatedly ranked among the top five health care mergers and acquisitions advisory firms. Visit and follow The Braff Group on LinkedIn. Contact: Karen Cullen kcullen@ View original content to download multimedia: SOURCE The Braff Group Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Skift
2 hours ago
- Skift
Fern Hotels Signs Over 10 MOUs for Marriott Venture
STR reported China hotel data for the week ended August 9th. Hotel RevPAR in China was down 4.7% for the week, year-over-year. The week was up against a comp of a decline of 8.5% in the year-ago week. For the August 9, 2025, week, occupancy was down 3.6% while ADR was down 1.1%. Costar/STR said Brisbane's hotel industry posted its highest monthly average daily rate and RevPAR on record in July, boosted by the British and Irish Lions Tour. Occupancy was up 0.7% to 81%, ADR was up 17.9% to A$274.52, while RevPAR was up 18.7% to $A222.42. Hotel performance spiked on the Lions vs. Wallabies game night on July 19th, with occupancy climbing to 88.6% and RevPAR to A$447.33, with records across the board. Costar said that looking ahead at August, forward occupancy on the books is tracking at 62%, in line with the same time last year. Hilton and Ayala Land Hospitality announced the signing of Canopy by Hilton Makati
