Latest news with #Hotels
India Today
3 days ago
- Business
- India Today
Leela Hotels share price: Stock lists at 7% discount on Dalal Street
Shares of Leela Hotels began trading on the stock market on Monday, making a weak start on Dalal Street. The company's stock opened at Rs 406 on the NSE, which is Rs 29 below the issue price of Rs 435. On the BSE, it opened slightly higher at Rs 406.50, still lower by Rs 28.50, or about 6.55%. This means the stock listed at nearly a 7% discount to its issue poor listing shows that investors are being cautious, even though the company has a strong brand name and has shown improvement in its financial Hotels launched its initial public offering (IPO) last week. The company aimed to raise Rs 3,500 crore in total. Of this, Rs 2,500 crore came from a fresh issue of shares and Rs 1,000 crore from an offer for sale by existing shareholders. The IPO was priced at Rs 435 per IPO was subscribed 4.72 times overall. While demand from large institutional investors was strong, with the Qualified Institutional Buyers (QIB) portion subscribed 7.82 times, the interest from retail investors and high-net-worth individuals (HNIs) was much lower. Retail investors subscribed only 0.87 times their portion, and the Non-Institutional Investors (NII) segment was subscribed 1.08 Hotels is backed by funds managed by Brookfield and owns five luxury hotels in cities such as Bengaluru, Chennai, New Delhi, Jaipur, and Udaipur. The company also manages several other hotels under the Leela brand through contracts. Altogether, it operates 12 hotels with a total of 3,382 rooms, making it one of the biggest luxury hotel operators in the the financial year ending March 2025, Leela Hotels made a profit of Rs 47.66 crore. This was a big improvement from the previous year, when it had posted a loss of Rs 2.13 crore. Revenue for the year rose by 15% to reach Rs 1,406.56 this improvement, some experts feel that the IPO was priced too high. After the issue, the company's price-to-earnings (P/E) ratio stands at over 213 times, which many consider to be expensive. This could be one reason why the listing was not money raised through the fresh issue will be used to pay back loans taken by the company for some of its hotels in Udaipur, Chennai, and Delhi. A part of the funds will also be used for general corporate IPO offered a minimum investment of Rs 14,042 for retail investors applying at the lower end. However, those who wanted to ensure allotment were advised to apply at the cut-off price, raising the investment amount to Rs 14,790. For small NIIs, the minimum investment stood at Rs 2,07,060, and for big NIIs, it was Rs 10,05,720. advertisement
India Today
3 days ago
- Business
- India Today
Leela Hotels vs Aegis Vopak listing: Which IPO will make a stronger market debut?
Two new companies will list on the stock market on Monday, June 2. Leela Hotels and Aegis Vopak Terminals will make their debut on the stock exchanges, and investors are waiting to see which one performs better on the first day of companies had their initial public offerings (IPOs) open for subscription from May 26 to May 28. While both IPOs were fully subscribed, they did not see very high demand during the bidding DETAILSLeela Hotels IPO was subscribed 4.72 times overall. Within this, the Qualified Institutional Buyers (QIB) portion was subscribed 7.82 times, the Non-Institutional Investors (NII) portion 1.08 times, and the retail investors' portion only 0.87 the other hand, Aegis Vopak Terminals IPO was subscribed 2.20 times overall. The QIB portion was subscribed 3.47 times, retail investors subscribed 0.81 times, and NII only 0.59 shows that institutional interest in Leela Hotels was higher compared to Aegis Vopak Terminals. However, both IPOs saw weak demand from retail and NII SIZE AND STRUCTURELeela Hotels aimed to raise Rs 3,500 crore through its IPO. This included a fresh issue of 5.75 crore shares worth Rs 2,500 crore and an offer for sale (OFS) of 2.30 crore shares worth Rs 1,000 comparison, Aegis Vopak Terminals planned to raise Rs 2,800 crore through a complete fresh issue of 11.91 crore shares. There was no offer for sale in its PRICE AND INVESTMENT DETAILSThe price band for Leela Hotels IPO was set at Rs 435 per share. The minimum lot size for retail investors was 34 shares, which meant an investment of Rs 14,042. Investors were advised to apply at the cut-off price, which raised the minimum amount to around Rs 14, small non-institutional investors (sNII), the minimum lot size was 14 lots (476 shares) worth Rs 2,07,060. For big non-institutional investors (bNII), it was 68 lots (2,312 shares), costing Rs 10,05, Vopak Terminals set its IPO price band at Rs 235 per share. The minimum lot size was 63 shares, and the minimum investment by retail investors came to Rs 14,049. To avoid issues during oversubscription, investors were advised to apply at the cut-off price, which took the investment amount to Rs 14, sNII, the minimum investment was 14 lots (882 shares) worth Rs 2,07,270, and for bNII, it was 68 lots (4,284 shares) costing Rs 10,06, AND LISTING PRICE ESTIMATEAs of June 2 at 7:36 AM, the grey market premium (GMP) for both IPOs has Hotels IPO had a last GMP of Rs 2. This means the expected listing price is Rs 437 (Rs 435 cap price + Rs 2 GMP). The expected gain per share is just 0.46%. This suggests that the IPO might list with very little profit for those who got the shares during the contrast, the GMP for Aegis Vopak Terminals IPO shows a discount. The IPO was priced at Rs 235, but the estimated listing price is now Rs 234, indicating a possible loss of Re 1 per share. This means Aegis Vopak Terminals might list below its issue price. advertisement
Korea Herald
23-05-2025
- Business
- Korea Herald
Radisson Hotel Group launches first two Verified Net Zero hotels
BRUSSELS, May 21, 2025 /PRNewswire/ -- Radisson Hotel Group is proud to announce its first two hotels to achieve Verified Net Zero status, achieving 2040 requirements of the Net Zero Methodology for Hotels today. The properties in Oslo and Manchester are taking steps to eliminate Scope 1 & 2 emissions, significantly reduce Scope 3 emissions, aligned with the GHG protocol, and remove the remaining footprint with Nature Based Solutions. The achievement is unique, as the alignment with the Net Zero Methodology for Hotels is verified by a third party, TÜV Rheinland. With the launch of two Verified Net Zero Hotels, Radisson Hotel Group is setting the gold standard for sustainable hospitality. The existing Park Inn by Radisson Manchester City Centre is renovated to Radisson Hotel Manchester City Centre, A Verified Net Zero Hotel, completing its transition on 19 th May 2025. The current Park Inn by Radisson Oslo City Centre will be renovated to Radisson RED Oslo City Centre, A Verified Net Zero Hotel, and will be in operation as of the beginning of July 2025. Net Zero actions in carbon footprint Scopes 1, 2 and 3 The Verified Net Zero program is comprehensive and includes the carbon footprint from energy use (Scopes 1 & 2 as defined by the Greenhouse Gas Protocol or GHG) as well as the hotel's operational and supply chain footprint (Scope 3). Actions include the use of 100% renewable energy, achieved through electrification of hotels and/or the purchase of 100% renewable energy for all hotel functions from heating, cooling, hot water to cooking and spa & pool facilities. Next to overhauling operations to minimize waste, Radisson Hotel Group has re-evaluated its supply chains with a focus on Food & Beverage, and other sources of emissions such as hotel related transportation to minimize emissions. All remaining emissions are compensated using Nature Based carbon credits from carbon removal in partnership with Agreena, the largest soil carbon program in Europe, supporting over 2,300 farmers to regenerate more than 4.5 million hectares of European farmland. "Radisson Hotel Group aims to become Net Zero by 2050. While the move is easier in new build properties, the reality is that 80% of the buildings that need to become Net Zero by 2050 are already built. We believe it is critical to move as fast as possible with these existing buildings. Today, we are demonstrating that Net Zero conversion hotels are possible. In a conversion approach, the Manchester and Oslo hotels prove that non-sustainable hotels can become high performing asset classes with a positive impact on the planet. This approach needs to be serious and verified. And we are doing so with TÜV Rheinland. These Verified Net Zero hotels bring the future forward and offer guests the pinnacle of sustainable stays." commented Federico J. González, Executive Vice Chairman at Radisson Hotel Group. How guests will experience Verified Net Zero during their stay The opportunity to stay at a Verified Net Zero property allows guests to become part of a forward-thinking movement that combines comfort and innovation with sustainability. Verified Net Zero properties do this through three key features: 100% renewable energy, low-carbon menus, and by being a minimal waste hotel. Radisson Hotel Group's Verified Net Zero properties give guests the unique opportunity to stay in a hotel knowing their stay has a net zero carbon footprint. Using 100% renewable energy sources means that Verified Net Zero hotels do not depend on using environmentally damaging fossil fuels for heating, cooling, hot water, and cooking. Radisson Hotel Group partnered with Klimato – a specialized partner from Sweden – to develop low-carbon menus by analyzing the entire food offering for in-room dining menus, M&E menus and the breakfast buffet, curating recipes to lower their overall carbon footprint. Guests are informed by clear labels, ranking recipes' carbon footprints from A (best) to E (worst). Menus focus on fresh, seasonal ingredients while reducing recipe carbon footprints up to 40%, without compromising on taste. New measures are in place to minimize waste based on the Reduce, Reuse, Recycle principles. Guests can rest assured a maximum of the waste will be avoided or recycled, and none of the waste goes to landfill. To enhance recycling and minimize waste, Verified Net Zero hotels: Regarding the announcement, Inge Huijbrechts, Chief Sustainability & Security Officer at Radisson Hotel Group, said, "With the opening of our first two Verified Net Zero hotels, Radisson Hotel Group demonstrates its commitment to Net Zero 2050, and to showcasing truly sustainable hospitality. For the first time, we focus on reducing emissions from energy, operations and the supply chain. As we face the evolving challenge of climate change, Radisson Hotel Group is taking an essential step in reshaping the future of hospitality, one Verified Net Zero hotel at a time." Re-opening of Radisson Net Zero Hotel Manchester City Centre Following the refurbishment of the Park Inn by Radisson property, Radisson Hotel Manchester City Centre, A Verified Net Zero Hotel, brings a rebranded/upgraded hospitality experience, located just steps from the AO Arena and Manchester Victoria train station. The hotel provides the perfect location for those visiting the renowned AO Arena - a leading music, events and entertainment venue - either as a place to enjoy a sustainable stay or somewhere to enjoy dinner & drinks before heading to a show. The neighboring Manchester Victoria station has connections both locally across the Greater Manchester region and nationally, including linking the city with London in just over two hours. The clean and modern Scandinavian-inspired design of Radisson is ready to be experienced in all 252 guest rooms and suites, providing balance, wellbeing and a calming environment, featuring neutral tones and natural design elements. A welcoming bar and restaurant offers guests a variety of dishes and an outdoor terrace, ensuring a memorable stay for both leisure and business visitors. The hotel is tailored for groups and family get-togethers, with rooms featuring two double beds as well as open-plan spaces for relaxing and socializing. Guests can unwind in the tranquil spa, with a range of beauty treatments on offer as well as enjoying the heated indoor pool, sauna, steam room and gym. Additionally, the hotel's state-of-the-art event facilities provide capacity for up to 220 attendees, making it the perfect venue for a wide range of meetings or celebrations. Within a few minutes' walk of the hotel sits Manchester's finest shopping, cultural and leisure destinations, including Selfridges, Corn Exchange Manchester, Manchester Cathedral and the National Football Museum. RADISSON HOTEL GROUP Radisson Hotel Group is a rapidly expanding international hotel group, operating in EMEA and APAC with over 1,520 hotels in operation and under development in +100 countries. The Group's overarching brand promise is Every Moment Matters with a signature Yes I Can! service ethos. The Radisson family of brands portfolio includes Radisson Collection, art'otel, Radisson Blu, Radisson, Radisson RED, Radisson Individuals, Park Plaza, Park Inn by Radisson, Country Inn & Suites by Radisson, and Prize by Radisson brought together under one commercial umbrella brand Radisson Hotels. Radisson Rewards is Radisson Hotel Group's loyalty program, which delivers an elevated experience that makes Every Moment Matter, counting more than 20 million members. As the most streamlined program in the sector, members enjoy exceptional advantages and can access their benefits from day one across a wide range of hotels in Europe, Middle East, Africa, and Asia Pacific. Radisson Meetings provides tailored solutions for any event or meeting, including hybrid solutions placing guests and their needs at the heart of its offer. Radisson Meetings is built around three strong service commitments: Personal, Professional and Memorable, while delivering on the brilliant basics and being uniquely Carbon Compensated. At Radisson Hotel Group we care for people, communities and planet and aim to be Net Zero by 2050 based on the approved Science Based Targets. With unique solutions such as carbon compensated Radisson Meetings, we make sustainable hotel stays easy. To facilitate sustainable travel choices, all our hotels are becoming verified on Hotel Sustainability Basics. The health and safety of guests and team members remain a top priority for Radisson Hotel Group. All properties across the Group's portfolio are subject to health and safety requirements, ensuring we always care for our guests and team members.
India Today
21-05-2025
- Business
- India Today
Leela Hotels IPO details: Check price band, GMP, subscription and listing date
The IPO action on Dalal Street seems to have picked up pace as 2 IPOs are open for bidding this week and 3 will open next week. One of the three IPOs opening next week for subscription is Leela Hotels, aiming to raise Rs 3,500 crore through a book-built issue. This comes at a time when Dalal Street has been performing well, with Sensex and Nifty having seen gains in the last month. Leela Hotels plans to raise Rs 2,500 crore by issuing 5.75 crore fresh shares. In addition to this, 2.30 crore shares will be sold by existing shareholders, bringing in Rs 1,000 crore through the offer for sale Hotels IPO will open for bidding on May 26, 2025 and will close on May 28, 2025. Price band for the IPO has been set between Rs 413 and Rs 435 per minimum lot size for retail investors is 34 shares. This means that the minimum investment at the lower end of the price band would be Rs 14,042. If an investor bids at the higher end or the cut-off price of Rs 435, the minimum investment would come to around Rs 14, non-institutional investors are required to apply for at least 14 lots or 476 shares, which works out to Rs 2,07,060. For large non-institutional investors, the minimum application size is 68 lots or 2,312 shares, amounting to Rs 10,05, investment banks are working as the book-running lead managers for this IPO. These include JM Financial, BofA Securities India, Morgan Stanley India, J.P. Morgan India, Kotak Mahindra Capital, Axis Capital, Citigroup Global Markets India, IIFL Securities, Motilal Oswal Investment Advisors, and SBI Capital Markets. Kfin Technologies is the registrar for the public the IPO, the market capitalisation of Leela Hotels is expected to be Rs 10,155.36 latest grey market premium for the Leela Hotels IPO was Rs 15 per share, as of 21 May 2025 at 1:28 PM. Based on the highest end of the price band, which is Rs 435, the estimated listing price is Rs 450 per share. This reflects an expected gain of around 3.45% if the stock lists at that is likely to be finalised on May 29, 2025. The shares of Leela Hotels are expected to be listed on the BSE and NSE on June 2, 2025, which is the tentative listing date. advertisement
Times
16-05-2025
- Times
Edinburgh tops league for most expensive city break
Edinburgh is the most expensive destination for a city break in western Europe, according to research. It found that on average visitors would have to pay £399 for two nights in a three-star city centre hotel. It is more than twice the equivalent price in Lisbon, the cheapest destination, where two nights cost £165 on average. The figure was based on the average price of the ten cheapest en suite rooms for stays from June 6 to 8 on the booking website The researchers for Post Office Money looked at 38 popular European city break destinations and compared a 'basket of goods' on top of accommodation costs. It included a three-course meal for two with a bottle of house wine, a cup of coffee,
