The promoters who own the Leela brand will also be transferring the label to Brookfield for all hospitality businesses.
'While the concept was introduced globally over four decades ago, branded residences have taken off now in India.'
Excerpts from CNBC-TV18's exclusive interview with Sushil Gupta and Vivek Nair.
The firm, which owns, operates and manages hotels, palaces and resorts, is likely to hive-off the two properties into separate entities.
The property was acquired by RIL for around Rs 172 crore
India's hospitality sector is rolling out the red carpet for investors. A flurry of upcoming IPOs, or initial public offerings, the entry of new players, and ambitious expansion plans by Indian and global hotel brands are ushering in what could be the industry's most formalised era yet. Leading the charge are real estate titans, who are turning their hotel arms into global hospitality chains.
Most of the hospitality majors have reported occupancy of over 90 per cent this year, against 70-80 per cent last year.
With his killer smile, the sex symbol image, Robert Redford would go beyond just being an actor, remembers Aseem Chhabra.
The Nifty and Bank Nifty ended at record closing high of 7,913 and 15,865 respectively.
The grand old man of Indian hospitality, Captain C P Krishnan Nair passed away at a private hospital in Mumbai on Saturday.
The broader markets are, however, outperforming the larger peer.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Hospitality chains are hosting dual brands on one property, looking for operational efficiencies without diluting their brands, says Shivani Shinde Nadhe.
Investors indulged in buying beaten down blue chips at lower and attractive levels.
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Experts say in the serviced apartments space, developers, primarily from the hospitality sector, are targeting non-resident Indians, expatriates and now, even domestic investors.
Nifty50 surged 87 points to end at 8,157, highest closing levels since Oct 29, 2015.
Mourning Nair's demise will not only be his family members and thousands of well-wishers and employees of Leela Palace Hotels and Resorts, which he founded at the ripe age of 67.
'I never got respect as an actress.' 'But when I became a director and worked with actresses like Cate Blanchett and Jessica Chastain, I felt such pride of being an actress.'
Act says remuneration to directors and key managerial personnel should involve a balance between fixed and incentive pay.
The top posts on social media from your favourite Bollywood celebrities.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
'Despite its noble attempts, tight editing, terrific sound design, good performances and a compelling story, Hotel Mumbai tells a big lie.'
'We have integrated start-up space created in almost all the 14 district headquarters of the state.'
'They have incubation facilities providing entrepreneurs common facilities like shared software, legal support, fab labs, hardware, manufacturing facilities and services like chartered accounting facilities, etc, enabling the start-ups to concentrate on technology R&D and product development.'
Contract finally given for Rs 2,400-cr project, with GIFT City-like features
The 39-year-old, the fifth child of an illiterate labourer couple and only the second of their eight to be educated, now helms various ventures that bring in a turnover of between Rs 75 crore and Rs 90 crore.
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