Latest news with #midscale
Yahoo
4 days ago
- Business
- Yahoo
IHCL to acquire 51% stake in ANK Hotels and Pride Hospitality
Tata Group's hospitality unit Indian Hotels Company Limited (IHCL) has signed a definitive agreement to acquire a 51% equity stake in two companies operating 135 hotels under the Clarks Hotels and Resorts brand for Rs2.4bn ($23.28m). The acquisition involves ANK Hotels, which manages 111 midscale hotels, and Pride Hospitality, which operates 24 hotels across India. IHCL will acquire majority stakes in ANK Hotels for Rs144m and in Pride Hospitality for Rs189.4m by November 2025. In a stock exchange filing, IHCL stated: "The transactions aim to address India's heterogeneous market landscape and provide deeper geographical penetration across India in the midscale segment while continuing to pursue its asset-light growth strategy." IHCL managing director and chief executive officer Puneet Chhatwal said: 'India's hospitality sector has witnessed sustained demand momentum over the last three consecutive fiscal years, reflective of the country's growing economic prominence and rising discretionary spends. 'The outlook for the 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.' ANK Hotels operates under the Clarks Hotels & Resorts umbrella, including Clarks Inn, Clarks Inn Suites, and Clarks Inn Premier. Out of the 111 hotels, 67 are operational, with a turnover of $1.63m in FY25. Pride Hospitality manages Clarks Safari, Clarks Collection, and Clarks Resort, with 13 hotels operational and has a turnover of $2.16m in FY25. In addition to the acquisition, IHCL has signed a distribution and marketing agreement with Brij Hospitality, which operates 19 hotels under the Brij Brand across India's unique destinations. "IHCL to acquire 51% stake in ANK Hotels and Pride Hospitality " was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
Zawya
23-07-2025
- Business
- Zawya
Garner by IHG signs its third deal in India
IHG Hotels & Resorts, one of the leading hotel companies, has signed a franchise agreement for Garner Kutch in Gujarat, marking the brand's third signing in India within months of its IMEA launch. Scheduled to open in the first quarter of 2026, the hotel reinforces IHG's strategy to expand its portfolio in emerging secondary and tertiary markets, where demand for high-quality, world-class accommodations is rapidly increasing. As IHG's newest midscale conversion brand, Garner is designed to offer value-conscious travellers high-quality stays focused on comfort, reliability, and convenience. The brand emphasises relaxed service, flexible spaces, and a locally inspired experience helping guests feel at home while on the road. Garner builds on IHG's strength in the essentials category and is well-positioned to meet India's growing demand for trusted midscale hotels, especially through the franchising model. Located in Kutch, Gujarat's largest district by area, Garner Kutch will be operated by Royal Buildspace LLP, and will be sourced and managed by Rosastays (Rosaoul Hotelco), one of the IHG's preferred third-party operators for Garner in India. Rosastays will also manage and operate Garner Etawah and Garner Kathua, scheduled to open in 2026 and 2027 respectively. The hotel will feature 40 well-appointed rooms, an all-day dining restaurant, swimming pool, fitness centre, spa, and spaces for meetings and social gatherings. Set in a rapidly developing region, Garner Kutch will cater to business travellers, professionals, and tourists visiting for both work and leisure. Commenting on the signing, Sudeep Jain, Managing Director, South West Asia, IHG Hotels & Resorts, said: " The rapid uptake of Garner in India—with three signings in quick succession—demonstrates strong owner confidence in our midscale conversion proposition. Kutch's dynamic growth trajectory aligns perfectly with Garner's ability to deliver asset-light, high-return opportunities for partners like Royal Buildspace. Together with Rosastays, we're unlocking India's underserved markets, where demand for trusted brands is accelerating.' 'At Rosastays, our focus is on operational excellence and delivering high-quality, experience-driven stays that align with the evolving expectations of today's travellers. Garner Kutch offers a compelling value proposition for guests seeking dependable, comfortable, and locally relevant hospitality. This marks our third partnership with IHG, under the Garner brand, reinforcing our shared commitment to elevating midscale hospitality in India's high-potential leisure markets through efficient operations, brand consistency, and memorable guest experiences.' shared Deepika Arora, Director, Rosastays. Deepak Chandnani, Partner, Royal Buildspace, added: " Garner's owner-centric model and distinctly different character combined with IHG's global expertise make it the ideal choice for the market in Kutch. We are proud to bring this innovative offering to a market poised for long-term hospitality growth. We look forward to offering a unique and reliable stay experience to travellers visiting this vibrant part of Gujarat." -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Yahoo
26-06-2025
- Business
- Yahoo
Marriott signs multi-unit agreement with Corporacion Polaris and Cardedeu
Marriott (MAR) International announced a signed multi-unit agreement with Corporacion Polaris and Cardedeu to open four City Express by Marriott properties, marking the brand's debut in El Salvador. The signed projects are expected to further enhance Marriott's footprint in the country with the addition of 440 rooms, solidifying the company's presence in the affordable midscale segment across the Caribbean and Latin America region. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on MAR: Disclaimer & DisclosureReport an Issue Marriott initiated with a Neutral at JPMorgan Dubai party hotel FIVE considers listing in London or New York, Reuters says Marriott price target raised to $282 from $267 at Morgan Stanley Marriott price target lowered to $273 from $300 at Truist Marriott to debut St. Regis Hotels & Resorts brand in Costa Rica 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
Bloomberg
10-06-2025
- Business
- Bloomberg
How Hampton Inn Became Hilton's Silent Moneymaker
Hampton Inn may appear unassuming, with its uniform architecture and standardized interiors. But it ranks among the most profitable hotel brands globally. Founded in 1984 to offer a middle ground between luxury hotels and aging motels, Hampton says it focused on value, consistency and guest satisfaction. After Hilton acquired the brand in 1999, it expanded to more than 3,000 locations and now outperforms major competitors in the midscale segment. Its success is driven by scale, reliability and - surprisingly - waffles. (Source: Bloomberg)
Travel Daily News
27-05-2025
- Business
- Travel Daily News
Tru by Hilton expands global reach with over 300 open hotels
Tru by Hilton unveils a refreshed prototype, enhancing guest comfort and flexibility, while celebrating global expansion and surpassing 300 hotels worldwide. MCLEAN, VA. – Tru by Hilton, Hilton's game-changing midscale brand, is unveiling a refreshed prototype – featuring purposeful updates designed to enhance comfort, flexibility and the overall guest experience. Since launching in 2016, the brand has seen rapid growth and momentum, boasting more than 300 hotels globally with recent brand debuts in Vietnam, Chile and Colombia. This expanding global reach offers more opportunity for travelers to enjoy Tru's consistent, high value stay experience while demonstrating how the brand continues to redefine expectations of a midscale hotel. 'Over the past eight years, Tru by Hilton has grown from a bold idea into a beloved brand that resonates with owners and guests around the globe,' said Andrew Harp, brand leader, Tru by Hilton. 'Our journey has been defined by rapid growth, continuous innovation and a commitment to delivering a stay that's simple, spirited and smart. We're excited to continue expanding our presence around the world and to welcome even more travelers to experience the Tru difference.' With a strong foundation in place, Tru by Hilton has quickly established itself as a leader in the midscale category and has been recognized for its guest satisfaction. As the brand continues to grow, it's also evolving to meet the changing needs of today's travelers, building on its reputation for reliability, affordability and spirited hospitality. A Refreshed Prototype Designed for Today's Traveler Tru by Hilton is introducing a refreshed prototype that brings thoughtful design enhancements to guest rooms, public spaces and guest floors. Grounded in feedback from guests, owners and hotel teams, the updates are designed to elevate comfort, flexibility and overall satisfaction, all while maintaining the approachable style and value Tru is known for. In guest rooms, updates include a re-designed mobile rolling desk that offers a large, versatile surface for working, dining or relaxing. Improved lighting and updated furnishings throughout the rooms help create a warmer, more welcoming atmosphere. The new roller shade system design for window treatments now offers an intuitive solution for guests while minimizing maintenance labor, downtime and cost versus the previous design. The lobby now features new soft seating and high-back chairs, giving guests more ways to relax or connect. A redesigned media wall brings Tru's signature lobby games front and center, encouraging spontaneous play and interaction. On every guest floor, the addition of a heat. & cool. station near the elevator gives travelers easy access to microwaves, ice machines and water bottle refill stations, an intuitive update inspired by recurring guest and operator feedback. 'This prototype refresh reflects how we're listening, both to our guests and our owners,' said Harp. 'Every update is rooted in real-world feedback, from added in-room flexibility to smart, efficient touches that improve operations. As we look to the future, we're focused on evolving the Tru experience in ways that drive loyalty, deliver value and set the brand up for long-term growth.' Expanding the Tru Footprint Worldwide As Tru by Hilton celebrates the opening of its 300th hotel, the brand is continuing its strategic growth around the world. From distribution throughout the U.S. to major international cities, Tru is proving its versatility and cross-generational appeal across a diverse range of markets. Recent and upcoming highlights include: U.S.: Tru by Hilton Houston Downtown Convention Center : Opened March 2025 A dual-brand property that pairs Tru by Hilton with Home2 Suites by Hilton, this hotel offers guests a flexible stay experience and prime location across from the Toyota Center. : Opened March 2025 A dual-brand property that pairs Tru by Hilton with Home2 Suites by Hilton, this hotel offers guests a flexible stay experience and prime location across from the Toyota Center. Vietnam: Tru by Hilton Hanoi Station : Opened April 2025 One of the brand's first properties in Vietnam, this hotel places guests near Hanoi's Old Quarter and major transit hubs, bringing Tru's modern approach to one of South East Asia's most dynamic capitals. : Opened April 2025 One of the brand's first properties in Vietnam, this hotel places guests near Hanoi's Old Quarter and major transit hubs, bringing Tru's modern approach to one of South East Asia's most dynamic capitals. Canada: Tru by Hilton Montreal Centre-Ville : Opening Summer 2025 This upcoming property marks a milestone for Tru in Canada, introducing the brand's fresh design and value-driven offering to the heart of downtown Montreal. : Opening Summer 2025 This upcoming property marks a milestone for Tru in Canada, introducing the brand's fresh design and value-driven offering to the heart of downtown Montreal. Mexico: Tru by Hilton Saltillo: Opening Summer 2025 Expanding Tru's presence in Mexico, this property sits in one of the country's growing industrial hubs, offering easy access to cultural attractions and manufacturing corridors. While the 300th hotel marks an exciting milestone, Tru by Hilton is just getting started. With more openings on the horizon, a refreshed prototype designed for today's traveler and growing demand across the globe, the brand is poised to continue delivering the consistency guests count on with the spirited experience they love.
