Hotels Sector

South Shore Holdings’ negotiations for offloading 50% stake in The 13 Hotel cancelled

South Shore Holdings’ negotiations for offloading 50% stake in The 13 Hotel cancelled

Hong Kong Stock Exchange-listed South Shore Holdings Limited, the company behind Macau’s magnificent hotel The 13, has confirmed that it has terminated negotiations that it had been pursuing to off

81% Hotel Occupancy Decline in India while Singapore manages with just 29.2%

81% Hotel Occupancy Decline in India while Singapore manages with just 29.2%

Occupancies across hotels in key cities witnessed a sharp decline, as travel restrictions intensified and India continued the lockdown.

OYO plans Unpaid Leave for some of its Indian Employees starting May 4

OYO plans Unpaid Leave for some of its Indian Employees starting May 4

OYO Rooms has announced today that the company will put some of its workforce on unpaid leave for four months from May 4.

OYO Founder Ritesh Agarwal Talks About Tough Times

OYO Founder Ritesh Agarwal Talks About Tough Times

OYO Rooms is facing tough times and the company recently announced that it would reduce its staff count in India and in other markets.

OYO Keeps on Getting in Bigger Mess and SoftBank Can’t Help it

OYO Keeps on Getting in Bigger Mess and SoftBank Can’t Help it

OYO has witnessed a strong growth over the last few years and the startup received major support from big investor SoftBank.

Hotel Leelaventure buyback FCCBs worth 50 million dollar

Hotel Leelaventure,Hotel Leelaventure, one of the leading players in the Indian hospitality industry, has bought back nearly 50 million dollars foreign currency convertible bonds (FCCBs) at discount price from the international markets.

The company stated in a release, that till March 31, 2009, the company has bought back and cancelled FCCBs worth $33 million, constituting 33 per cent of its $100 million bonds due in April 2012.

Similarly, the company has also bought back FCCBs worth Euro 12.20 million (about $16.53 million), which constitutes 23.7 per cent of the Euro 51.40 million bonds due in September 2010.

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