Category: Market

New Delhi, July 15, 2016: Following the approval of shareholders at the General Shareholders Meeting on July 12, 2016, AccorHotels Group officially announces the acquisition of FRHI Hotels & Resorts (FRHI) and its three prestigious luxury hotel brands: Fairmont, Raffles and Swissôtel. This addition of three remarkable brands instantly positions AccorHotels as a leading player in the global luxury hotel market, increases long term growth potential and profitability, and significantly expands the company’s footprint in North America, the world’s largest and most influential consumer market.

“Today is a great day for our Group. The acquisition of these three emblematic luxury hotel brands is a historical milestone for AccorHotels. It will open up amazing growth prospects, lift our international presence to unprecedented heights, and build value over the long term,” says Sébastien Bazin, Chairman and Chief Executive Officer of AccorHotels.

Joining AccorHotels’ global network is a portfolio of globally admired brands, which includes management of many of the world’s most iconic and historic hotels located in key strategic cities around the world, including: The Savoy in London, Raffles Singapore, Fairmont San Francisco, New York’s The Plaza, Fairmont Le Château Frontenac in Quebec City, and Le Royal Monceau Raffles Paris.

Combining FRHI’s proven track record and deep expertise in operating and marketing luxury hotels, with AccorHotels robust global operating platform, extensive loyalty base and industry leading digital capabilities, means the Group is uniquely positioned to deliver the most profitable returns and best growth potential across all market segments.

“We remain committed to providing guests with unparalleled service, while also keeping the ambition to deliver exceptional return on investment for our shareholders and hotel owners,” added Bazin. “By leveraging the operational synergies between FRHI and AccorHotels, we are well-positioned to accelerate the growth of our luxury brands and offer guests even more exciting hotel choices and destinations to explore.”

Chris Cahill appointed as the Group’s CEO Luxury Brands

In support of the acquisition, and as part of AccorHotels’ larger strategy to strengthen its luxury and upscale business, the company has appointed Chris Cahill as the Group’s Chief Executive Officer, Luxury Brands. In this newly created role, Chris, who will also become a member of AccorHotels’ Executive Committee, will lead the FRHI integration process and be responsible for the strategy and global operations of AccorHotels Luxury Brands. This new structure will include Raffles, Fairmont, Sofitel Legend, So Sofitel, Sofitel, MGallery by Sofitel, Pullman and Swissôtel.

Chris is an experienced hotelier who has led several successful integrations, is familiar with multi-brand management and brings an extensive background in luxury operations, sales and marketing. With more than 30 years of hospitality industry experience, including 19 years working with FRHI and its predecessor companies, Chris is ideally positioned to lead the integration of the Fairmont, Raffles and Swissôtel brands into the AccorHotels portfolio, and will ensure AccorHotels’ luxury brands grow and prosper. He most recently served as Executive Vice President Global Operations at Las Vegas Sands Corp.

Closing Details

Following the approval of shareholders at the General Shareholders Meeting on July 12, 2016, the transaction with Qatar Investment Authority (QIA) and Kingdom Holding Company (KHC) of Saudi Arabia provided $840 million (€768 million) cash payment and the issuance of 46.7 million AccorHotels shares in consideration for the contributed FRHI shares. The transaction gives QIA and KHC respective stakes of 10.4% and 5.8% in Accor’s share capital. Ali Bouzarif and Aziz Aluthman Fakhroo from QIA and Sarmad Zok from KHC will now join AccorHotels’ Board of Directors.

AccorHotels plans to generate approximately €65 million in revenue and cost synergies thanks to the combination of brands, the maximization of hotel earnings, the increased efficiency of marketing, sales and distribution channel initiatives, and the optimization of support costs. Significant enhancements will also be made in terms of customer data, thanks to the integration of FRHI’s customer base that includes three million loyalty members, of which 75 percent are in North America.

The vast majority of Fairmont, Raffles and Swissôtel’s 154 hotels and resorts (of which 40 are under development) and 56,000 rooms spanning 34 countries and five continents are operated under long-term management contracts, with an average term of nearly 30 years; six hotels are leased and one hotel is owned. The Fairmont, Raffles and Swissôtel brands employ more than 45,000 colleagues worldwide.

Corporate Comm India (CCI Newswire)

Category: Market

Alex Moura returns as Regional Sales Director

Curitiba, June 23, 2016
: Leading hotel technology solutions provider, eRevMax, has strengthened its sales team in South America with the appointment of Alex Moura as the Regional Sales Director. Alex, who has earlier served the company as a Sales Manager in Brazil, has returned to lead eRevMax’s overall sales strategy in the region. He will focus on reaching out to potential new customers as well as technology partners and strengthen ties with existing client base while expanding the company’s footprint in South America and Portugal.

Alex is a travel sales veteran with over 18 years of experience. Prior to this, Alex held various sales roles in travel technology industry including eRevMax.

Commenting on the new appointment, Brian Dass, Chief Operating Officer, eRevMax said, "South America has been a growth region for us where we have key customers like Brazil Hotel Group and integrations with various leading OTAs like Despegar. Alex brings a wealth of sales management experience and valuable know-how and his demonstrable success in his previous positions make him the ideal person to continue our strong sales growth in the region."

“It’s good to be back in eRevMax which has always been like my family. I am joining the company at a very exciting stage and look forward to contributing to its growth further. The online travel segment is rapidly changing and with RateTiger, RTConnect and LIVE OS platforms, eRevMax is in a position to address the digital challenges facing the industry,” said Alex Moura on his appointment.

Alex holds degrees in business management and law. Besides his native Portuguese, he is fluent in English and Spanish.

Corporate Comm India (CCI Newswire)

Category: Market

Rebranded property to undergo extensive upgrade

Pune, June 12, 2016: 
InterContinental Hotels Group (IHG®), one of world’s leading hotel companies, announces the opening of the first Crowne Plaza® in Pune - Crowne Plaza® Pune City Centre. The 173-room hotel will operate under a management agreement with The Advantage Raheja Group and has been rebranded from an existing property.

Crowne Plaza Pune City Centre lies in the Koregaon Park district located right in the heart of Pune. Situated only a 20 minute drive from the airport and nearby key local businesses, venues and attractions, this hotel is ideal for hosting business travellers who need convenient access to the city while utilizing ample space for large corporate meetings and events.

Designed to truly make business travel work, the hotel will undergo an extensive refurbish mentto upgrade guest rooms, public areas, restaurants and meeting space. Furniture and fittings and other interior elements will be enhanced to create more inviting dining options and engaging spaces for both business and social interactions.Commencing June 2016, the refurbishment is anticipated to be complete early 2017 and the hotel will remain fully operational during this time.

The hotel is equipped with 24-hour business services and meeting facilities as well as 11,800 sq. ft. of banqueting space. It also features afully-equipped 24-hour fitness centre anda newly designed swimming pool, as well as a rooftop restaurant and lounge that are designed to keep guests productive, connected, rested, and refreshed during their stay.

Shantha de Silva, Head of South West Asia, InterContinental Hotels Group said,“Over the last few years, Pune has established itself as one of the key commercial hubs of the countryand so is a great market for the hospitality industry. Crowne Plaza Hotels & Resorts has been recognised globally as a reputable meetings hotel brand for the last 30 years and is the perfect brand to meet the needs of corporate travellers and the growing MICE business in this city. We’re delighted to be partnering with the Advantage Raheja Group on this hotel and look forward to offering business ready services to our guests here.”

Deepak BhagwandasRaheja, founder of The Advantage Raheja Groupsaid, “Crowne Plaza Pune City Centre will be equipped with the latest technology, quality furnishings and modern meeting facilities and I have every confidence it will be the number one business travel hotel in the city. Pune is expanding along its eastern and western peripheries and gradually transforming into a major tech and biotech centre so it is the perfect destination to develop a quality hotel that caters to the needs of corporate travellers. We’re pleased to be developing a leading business branded hotel with a global player like IHG; the company’s global distribution networks, loyalty programme and portfolio of preferred brands makes them the perfect partner to take the hotel to the next level.We look forward to welcoming our guests with the service and unique amenities they have come to expect at a Crowne Plaza.”

IHG has 27 hotels open across four brands in India including: InterContinental®, Crowne Plaza®, Holiday Inn and Holiday Inn Express with 41 hotels in the development pipeline*.

* Figures as at March 31st 2016
Corporate Comm India (CCI Newswire)

Category: Market

New Delhi, June 02, 2016: Signs agreement to manage Novotel Ambassador Seoul Dongdaemun Hotel & Residences with KT Estate, a subsidiary of the innovative telecommunications company KT Group

- The hotel, which will be KT Estate’s first international hotel in South Korea, will be managed by Accor Ambassador Korea, the largest global hotel operator in the country.

- The top floors of the 528-room hotel will have a rooftop pool, two bars and other attractions, ensuring its position as a new Seoul landmark.

- The “smart” hotel will be equipped with KT Group’s cutting-edge network and energy management technology, making it the first of its kind in the country.

Accor Ambassador Korea announces plans to open Novotel Ambassador Seoul Dongdaemun Hotel & Residences in 2018 in Seoul, South Korea, close to the popular Dongdaemun Shopping Town and Dongdaemun Design Plaza. The hotel represents the 27thhotel signed by Accor Ambassador Korea, which is expanding its network to 27 hotels and 7,500 rooms by the end of 2019 from the current 17 hotels and 4,300 rooms in Korea. The expansion further enhances its position as the largest international operator of hotels in the country.

The hotel, which is part of the midscale Novotel brand known for its spacious modular guestrooms, commitment to guest wellbeing, meeting facilities, children’s offerings and attentive service, will feature 334 hotel rooms and 194 serviced residence units, the latter equipped with full kitchenettes to meet the needs of leisure, business and family guests for both short- and long-term stays. Guests will enjoy an array of facilities, including a restaurant, event space, fitness club and sauna. The top floors will be the hotel’s main attraction with a sky lobby and bar, rooftop pool and adjacent outdoor bar, creating a new landmark destination in the city for visitors and locals alike.

Maximising guest comfort and enjoyment,Novotel Ambassador Seoul Dongdaemun will be a “smart” hotel, equipped throughout with KT Group’s innovative infrastructure, including its Internet of Things network technology featuring KT Giga Internet and WiFi at a high speed of 1Gbps, internet protocol television, and widespread smartphone-based technology. It will have a centralised energy-control system in the form of KT MEG (the KT Micro Energy Grid) and LED sensor controls, making this the first hotel in South Korea where energy is so efficiently managed.

The hotel’s interior design will be undertaken by SODA (Thailand), the award-winning firm known for its creation of N’Room, the new guest room concept for Novotel offering a universal, more customizable design to better address the need of guests and individual hotels. SODA has previously created designs for AccorHotels’ sister brands Sofitel and Pullman.

Mr. Patrick Basset, Chief Operating Officer of AccorHotels Upper Southeast and Northeast Asia, said the management agreement comes at an auspicious time, particularly for AccorHotels, whose global headquarters are in France. “This is a special year for South Korea and France, which are celebrating the 130th anniversary of their diplomatic relations. The new hotel also reflects the successful partnership between AccorHotels and Ambassador Hotel Group, which combine global brands and standards with local expertise, enabling an unrivalled ‘glocal’ hotel-management system that is ideal for the Korean market.”

Mr. Kwon Tae-wook, Chief Representative of Accor Ambassador Korea, said, “We are delighted to partner with KT Estate on this large-scale hotel project development in Dongdaemun, Seoul. The hotel will have a positive impact on tourism infrastructure and the local economy together with Dongdaemun Shopping Town, Dongdaemun Design Plaza and Doota Duty Free Shop.”

AccorHotels, which is the largest and fastest growing international hotel group in Europe and Asia Pacific, opened its first hotel in South Korea 26 years ago with Ambassador Group, a pioneer in the local hospitality field. The two companies then formed the joint venture Accor Ambassador Korea, which now manages hotels in six cities under the brands Pullman, Novotel, Mercure, ibis Styles, ibis, and ibis Budget.

Corporate Comm India (CCI Newswire)
Category: Market

Mumbai, May 23, 2016: Cox & Kings Ltd. the leading holidays and education travel group having operations in 26 countries across continents, today announced its financial results for the fourth quarter and full year ended March 31st, 2016

Q4FY16 Highlights:

Consolidated (continuing consolidated opertations only):

§ Net Revenues decreased by 4% to Rs.472 crores in Q4FY16, as against Rs. 493 crores in Q4FY15

§ EBITDA (excl. forex gain/loss) increased by 4% to 58 crores in Q4FY16, as against Rs. 56 crores in Q4FY15


§ Revenues stood at Rs. 111 crores in Q4FY16 as against Rs 102 crores in Q4FY15

§ EBITDA (excl forex gain/loss) for the quarter decreased by 8% to Rs. 35 crores as against Rs. 38 crores in the corresponding period last year

§ PAT stood at Rs. 26 crores as against Rs.12 crores in Q4FY15

FY 16 Highlights:

Consolidated (continuing consolidated opertations only):

§ Revenues increased by 7% to Rs. 2,035 crores as against Rs 1,904 crores in the corresponding period last year

§ EBITDA (excl. forex gain/loss) increased by 11% to Rs. 824 crores as against Rs 742 crores in the corresponding period last year


§ Revenues up by 13 % to Rs.543 crores as against Rs 481 crores in FY16

§ EBITDA (excl. forex gain/loss) for the year stood at Rs. 263 crores as against Rs. 236 crores in last year

Management Comments:

Peter Kerkar, Director, Cox and Kings Ltd said, “This year we focussed on re-aligning the businesses. We have sharpened our focus on our core businesses which have robust revenues and profitability.”

Corporate Comm India (CCI Newswire)

Category: Market

Mumbai, May 18, 2016: Always wanted to explore the North-East but hesitated to travel? You are not alone. While the North-Eastern region has gained visibility and appreciation among Indian travellers, it's actual share of domestic tourist inflow in India is still less than 5%. A big factor deterring travellers is the lack of trusted and quality hotel accommodation. But in the last few months OYO, India's largest branded network of hotels, has made significant investments to expand its presence in key tourist destinations such as Gangtok and Darjeeling. OYO now offers more than 250 standardized rooms in Gangtok and Darjeeling, to meet a range of budgets - from as low as Rs. 999 per night for standard rooms, to premium rooms for Rs. 2500 - Rs. 4000 per night.

OYO Rooms are available in popular tourist spots like Tiger Hills and Mall Road in Darjeeling, and Tsango Lake, MG Marg in Gangtok. These hotels are situated in prime locations, and travellers can enjoy the scenic view of the Himalayan range, including the breathtaking snow-peaks of Kanchenjunga, straight from their rooms.

Speaking on OYO's future plans in the region, Ritesh Agarwal, Founder and CEO, OYO said, "We are thrilled to establish a strong network in the beautiful cities of Darjeeling and Gangtok. Our teams have worked very hard to deliver OYO's level of tandardization and predictability of guest-experience in the hotels here. Many travellers who want to visit the North-east hesitate due to concerns about lack of trusted accommodation options. It makes me very happy to assure them that with OYO now present in this region, they can plan their travel without any worry. The hospitality sector is still underdeveloped in the North-East and we are certain that the introduction of OYO's standardized affordable stays will attract more tourists. We look forward to welcoming guests from across the country."

Speaking about the current business trends Ritesh added, "We receive queries for North-East from across the country, but Darjeeling and Gangtok receive the highest number of queries from Kolkata (40%), followed by Gujarat, Maharashtra and Delhi (15% each). Kolkata accounts for 30% of the bookings in Darjeeling and Gangtok while Delhi contributes 12% bookings in the region. This summer season we have also witnessed interest from Hyderabad, with the city accounting for nearly 10% of our bookings in Darjeeling. With growing penetration of smartphones, 65% of the bookings for these destinations are driven by our mobile app."

OYO has also tied up with local travel agents to provide comprehensive tour packages with highly customized transportation, sightseeing and stay solutions.

Corporate Comm India (CCI NewsWire)


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