Latest news with #ANKHotels
Economic Times
10 hours ago
- Business
- Economic Times
IHCL portfolio to cross 550 hotels with 55,000 rooms post acquisitions
Synopsis Tata Group's IHCL is set to expand its portfolio to over 550 properties with 55,000 rooms through acquisitions of controlling stakes in ANK Hotels and Pride Hospitality. These acquisitions, totaling up to Rs 204 crore, will add 135 hotels under 'The Clarks Hotels & Resorts' brand, primarily integrated into IHCL's Ginger brand. Tata Group-owned IHCL on Tuesday said its hotel portfolio is set to cross 550 properties with 55,000 rooms after the country's largest hospitality firm signed definitive agreements to acquire a controlling stake in ANK Hotels and Pride Hospitality. Indian Hotels Company Limited (IHCL) also inked a distribution agreement with Brij Hospitality Pvt Ltd. In an interview with PTI, IHCL CEO Puneet Chhatwal said the acquisitions put its Ginger in a pole position in India with a portfolio of nearly 250 hotels and are very well positioned to get to the next 250, which will take it to 500 over the next 5-7 years. "They also take our presence to 250 cities in India," Chhatwal told PTI. IHCL's midscale hotel chain brand Ginger Hotels covers the mid-market segment. On Monday, IHCL had informed in a regulatory filing that a committee constituted by its board has approved and executed agreements to acquire about 51 per cent stake each in two entities -- ANK Hotels and Pride Hospitality -- which have a portfolio of 135 hotels operated under 'The Clarks Hotels & Resorts' brand. The transactions amounting to up to Rs 204 crore will be executed via cash consideration and are expected to be completed by November 15, 2025. The share subscription and purchase agreements and shareholders' agreements were executed to acquire about 51 per cent equity stake for an amount not exceeding Rs 110 crore in ANK Hotels Pvt Ltd, and Rs 94 crore in Pride Hospitality Pvt Ltd, according to a regulatory filing. "With many decades of hospitality experience, the promoters of these companies belong to the illustrious Clarks Hotels family. This takes IHCL's portfolio to over 550 hotels," IHCL said. According to Chhatwal, the outlook for the hospitality sector remains buoyant as demand outpaces supply and India continues to be an underserved hospitality market, especially in the mid-market segment. "Our partnership with ANK, Pride and Brij Hospitality is a multi-pronged approach addressing India's heterogeneous market landscape and is in line with IHCL's five-year road map 'Accelerate 2030' of unlocking India's tourism potential," Chhatwal stated. ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd have a portfolio of 135 hotels in the midscale segment spread across 110 locations and are presently operated under The Clarks Hotels & Resorts, which over the next few months will be integrated operationally and migrated to IHCL's brandscape predominantly under the Ginger brand, among others. These hotels are on a capital-light arrangement of management contracts and select operating leases. Brij Hospitality has a portfolio of 19 hotels in the experiential leisure segment in India's unique destinations.
Time of India
10 hours ago
- Business
- Time of India
IHCL portfolio to cross 550 hotels with 55,000 rooms post acquisitions
Tata Group-owned IHCL on Tuesday said its hotel portfolio is set to cross 550 properties with 55,000 rooms after the country's largest hospitality firm signed definitive agreements to acquire a controlling stake in ANK Hotels and Pride Hospitality . Indian Hotels Company Limited (IHCL) also inked a distribution agreement with Brij Hospitality Pvt Ltd. Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program In an interview with PTI, IHCL CEO Puneet Chhatwal said the acquisitions put its Ginger in a pole position in India with a portfolio of nearly 250 hotels and are very well positioned to get to the next 250, which will take it to 500 over the next 5-7 years. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Amazon's Hottest Selling Hearing Aid is Back on Sale Hear True Learn More Undo "They also take our presence to 250 cities in India," Chhatwal told PTI. IHCL's midscale hotel chain brand Ginger Hotels covers the mid-market segment. On Monday, IHCL had informed in a regulatory filing that a committee constituted by its board has approved and executed agreements to acquire about 51 per cent stake each in two entities -- ANK Hotels and Pride Hospitality -- which have a portfolio of 135 hotels operated under 'The Clarks Hotels & Resorts' brand. Live Events The transactions amounting to up to Rs 204 crore will be executed via cash consideration and are expected to be completed by November 15, 2025. The share subscription and purchase agreements and shareholders' agreements were executed to acquire about 51 per cent equity stake for an amount not exceeding Rs 110 crore in ANK Hotels Pvt Ltd, and Rs 94 crore in Pride Hospitality Pvt Ltd, according to a regulatory filing. "With many decades of hospitality experience, the promoters of these companies belong to the illustrious Clarks Hotels family. This takes IHCL's portfolio to over 550 hotels," IHCL said. According to Chhatwal, the outlook for the hospitality sector remains buoyant as demand outpaces supply and India continues to be an underserved hospitality market, especially in the mid-market segment. "Our partnership with ANK, Pride and Brij Hospitality is a multi-pronged approach addressing India's heterogeneous market landscape and is in line with IHCL's five-year road map 'Accelerate 2030' of unlocking India's tourism potential," Chhatwal stated. ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd have a portfolio of 135 hotels in the midscale segment spread across 110 locations and are presently operated under The Clarks Hotels & Resorts, which over the next few months will be integrated operationally and migrated to IHCL's brandscape predominantly under the Ginger brand, among others. These hotels are on a capital-light arrangement of management contracts and select operating leases. Brij Hospitality has a portfolio of 19 hotels in the experiential leisure segment in India's unique destinations.
News18
11 hours ago
- Business
- News18
IHCL portfolio to cross 550 hotels with 55,000 rooms post acquisitions
Last Updated: New Delhi, Aug 12 (PTI) Tata Group-owned IHCL on Tuesday said its hotel portfolio is set to cross 550 properties with 55,000 rooms after the country's largest hospitality firm signed definitive agreements to acquire a controlling stake in ANK Hotels and Pride Hospitality. Indian Hotels Company Limited (IHCL) also inked a distribution agreement with Brij Hospitality Pvt Ltd. In an interview with PTI, IHCL CEO Puneet Chhatwal said the acquisitions put its Ginger in a pole position in India with a portfolio of nearly 250 hotels and are very well positioned to get to the next 250, which will take it to 500 over the next 5-7 years. 'They also take our presence to 250 cities in India," Chhatwal told PTI. IHCL's midscale hotel chain brand Ginger Hotels covers the mid-market segment. On Monday, IHCL had informed in a regulatory filing that a committee constituted by its board has approved and executed agreements to acquire about 51 per cent stake each in two entities — ANK Hotels and Pride Hospitality — which have a portfolio of 135 hotels operated under 'The Clarks Hotels & Resorts' brand. The transactions amounting to up to Rs 204 crore will be executed via cash consideration and are expected to be completed by November 15, 2025. The share subscription and purchase agreements and shareholders' agreements were executed to acquire about 51 per cent equity stake for an amount not exceeding Rs 110 crore in ANK Hotels Pvt Ltd, and Rs 94 crore in Pride Hospitality Pvt Ltd, according to a regulatory filing. 'With many decades of hospitality experience, the promoters of these companies belong to the illustrious Clarks Hotels family. This takes IHCL's portfolio to over 550 hotels," IHCL said. According to Chhatwal, the outlook for the hospitality sector remains buoyant as demand outpaces supply and India continues to be an underserved hospitality market, especially in the mid-market segment. 'Our partnership with ANK, Pride and Brij Hospitality is a multi-pronged approach addressing India's heterogeneous market landscape and is in line with IHCL's five-year road map 'Accelerate 2030' of unlocking India's tourism potential," Chhatwal stated. ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd have a portfolio of 135 hotels in the midscale segment spread across 110 locations and are presently operated under The Clarks Hotels & Resorts, which over the next few months will be integrated operationally and migrated to IHCL's brandscape predominantly under the Ginger brand, among others. These hotels are on a capital-light arrangement of management contracts and select operating leases. Brij Hospitality has a portfolio of 19 hotels in the experiential leisure segment in India's unique destinations. PTI RSN DR DR view comments First Published: August 12, 2025, 15:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
New Indian Express
14 hours ago
- Business
- New Indian Express
IHCL acquires 51% in Clarks Hotel & Resorts for Rs 205 crore
NEW DELHI: The Tata Group-owned Indian Hotels Company Limited (IHCL) announced on Monday its acquisition of 51% stake each in ANK Hotels Private Limited and Pride Hospitality Private Limited for a total sum of Rs 205 crore. ANK Hotels Private Limited and Pride Hospitality run the Clarks Hotels and Resorts chains. The Indian Hotels Company Limited owns brands such as Taj, Vivanta, and Ginger. ANK Hotels operates a portfolio of 111 mid-scale hotels under "The Clarks Hotels & Resorts" umbrella, with 67 properties currently in operation. The acquisition is expected to be completed by November 15, 2025. ANK Hotels, which was established in 1996 and has its registered office in Lucknow, also has a presence in Sri Lanka. Its turnover was ₹14.32 crore in the fiscal year 2024-25. The IHCL transaction values ANK's 51% stake at around Rs 110 crore.
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Business Standard
18 hours ago
- Business
- Business Standard
Stocks to Watch today, August 12: Hindalco, IHCL, Bata India, Astral
Stocks to watch today, Tuesday, August 12, 2025: Indian equity benchmarks, Sensex and Nifty, are likely to witness a flat opening on Tuesday amid mixed global cues. At 7:30 AM, GIFT Nifty Futures were trading at 24,594.5 points, up 19.5 points or 0.08 per cent. Asian markets were trading on a mixed note as investors evaluated the overnight extension of the US-China trade truce, which gives the two largest global economies additional time to work toward a trade agreement. Last checked, Japan's Nikkei 225 index was trading 2.36 per cent higher, hitting record highs, while South Korea's KOSPI was up 0.8 per cent. However, Hong Kong's Hang Seng index was down 0.15 per cent. On Monday, Wall Street closed modestly lower after President Trump announced a 90-day pause for higher tariffs on China. Investors are eyeing key US inflation reports due out later in the week. The S&P 500 settled 0.25 per cent lower and the Dow Jones Industrial Average fell 0.45 per cent. Here are the key stocks to watch today, August 12: Indian Hotels Company (IHCL): The Tata Group's hospitality arm announced that its board of directors and a designated committee have approved the acquisition of majority stakes in two hospitality companies: ANK Hotels and Pride Hospitality, for a total consideration of ₹204 crore. The company has executed a share subscription and purchase agreement and a shareholders' agreement to acquire around 51 per cent equity stake for an amount not exceeding ₹ 110 crore in ANK Hotels. Ashoka Buildcon: The construction engineering company reported a standalone total revenue of ₹1,339 crore in the June 2025 quarter (Q1FY26), down 30 per cent from ₹1,901 crore in the year-ago period. The company's profit after tax (PAT) fell 25 per cent year-on-year (Y-o-Y) to ₹31 crore from ₹41 crore. Hindalco Industries: US-based Novelis Inc., a subsidiary of Hindalco Industries, reported a 36 per cent Y-o-Y decline in net income attributable to its common shareholders to $96 million for the April-June quarter of FY26. Net sales for the reported quarter increased 13 per cent Y-o-Y to $4.7 billion. Bata India: The footwear manufacturing company reported a marginal decline in the standalone revenue from operations to ₹941.8 crore in the Q1FY26 against ₹944.6 crore in the year-ago period. The company's profit after tax came in at ₹51.7 crore, down 70 per cent from ₹174.3 crore in the year-ago period. Tilaknagar Industries: The alcoholic beverage company reported total revenue of ₹409 crore, up 30.6 per cent compared to ₹313 crore in the year-ago period. The company's profit after tax grew 120.8 per cent to ₹89 crore against ₹40 crore in Q1FY25. Sansera Engineering: The auto components manufacturer reported total revenue of ₹766.3 crore in the Q1FY26, up 3 per cent from ₹743.9 crore in the year-ago period. The company's profit after tax (PAT) grew 26 per cent to ₹63 crore compared to ₹50.1 crore in Q1FY25. The company secured new orders worth ₹173.2 crore during the quarter. Man Industries: The steel pipe maker posted a consolidated net profit of ₹27.6 crore, up 45.2 per cent from ₹19 crore in the year-ago period. It reported revenue from operations of ₹742.13 crore during the June 2025 quarter against ₹748.7 crore in the Q1FY25. Astral: The CPVC pipes and fittings manufacturer reported consolidated revenue from operations of ₹1,361.2 crore in the June 2025 quarter, marginally down from ₹1,383.6 crore in the year-ago period. The company's net profit plunged 33.7 per cent to ₹79.2 crore against ₹119.5 crore in the year-ago quarter. Adani Enterprises: Horizon Aero Solutions (HASL), a step-down subsidiary of the company, has acquired a 100 per cent stake in Indamer Technics (ITPL). ITPL is engaged in the business of Maintenance, Repair and Overhaul (MRO) of aircraft. Q1 results today Hindustan Aeronautics, Apollo Hospitals Enterprise, Honasa Consumer, Aavas Financers, Alkem Laboratories, Cochin Shipyard, Bharat Dynamics, Gujarat State Petronet, Mrs Bector Food Specialities, ONGC, Jindal Steel & Power, FSN E-Commerce, Zydus Lifesciences, and Suzlon Energy, among others, will release their Q1 earnings today.
