Louvre Hotels Group, the second largest hotel group in Europe, has announced its acquisition of a majority stake in Sarovar Hotels, the largest independent Indian hotel chain in terms of hotels and presence.
In Noida, domestic and international hotel brands vie to grab a share of the traffic going to the Taj Mahal on the Yamuna Expressway. Real estate developer BPTP has roped in Fairmont to run upcoming hotel in Noida. Fairmont is a Canadian luxury hotel operator, which has signed a hotel management contract with BPTP.
In Kolkata, property rentals at malls and in high-street locations — are moving north thanks to the increasing number of luxury retail brands and shortage of space in existing city malls. According to market sources, rentals in high-street formats (shops other than in malls) have moved up by nearly 30-40 per cent on a monthly basis (till December 2012); while at malls, hikes have been steeper.