Oberoi Group Family Drama Continues

Hyatt Hotels Corporation announced a Hyatt affiliate has entered into a management agreement with Veda Hospitality Private Limited, a part of the Golyan Group, for the Hyatt Regency Lumbini. This property will be the fourth Hyatt-branded hotel in Nepal, reaffirming the significance of the market in Hyatt’s growth plans for Southwest Asia. The property will be nestled on the banks of the scenic Dano River, a short driving distance from the pilgrimage destination, Mayadevi Temple as well as other major attractions as well as the Gautam Buddha International Airport. The hotel will be spread across 11 acres, featuring 175 guest rooms, convenient dining options, events and meeting spaces, and a range of amenities including a fitness center, wellness spa, outdoor pool and other entertainment facilities. Hyatt’s current portfolio in India and Southwest Asia consists of 52 properties, 50 in India and two in Nepal, across nine brands.

Global asset manager Blackstone is said to be scouting for acquisitions in the hotel sector in India. The Hindu Business Line said some of the hotels they have identified as targets include the Chennai Hilton and the half-constructed Marriott hotel near Bengaluru Airport. Each acquisition is expected to be in the range of 300-400 crore. In September, Ventive Hospitality, jointly promoted by Blackstone and the Panchsil Group, filed for a draft prospectus for an initial public offering to raise up to Rs 2000 crore through a fresh issue. The company has 11 operational assets branded by Marriott, Hilton, Minor and Atmosphere. The two targeted acquisitions are said to be perfect for their portfolio. Expectations are that they will take a while to complete. When contacted, Blackstone issued a statement saying they are not in any negotiations to acquire hotels in southern India. The 204-room Hilton in Chennai is owned by the Empee Group and is managed by Hilton. It has been struggling with cash flows and meeting its debt obligations. The under-construction Marriott near Bengaluru Airport is being built by an arm of the Lulu Group, Twenty Fourteen Hotels India.

Appejay Surrendra Park Hotels Limited announced the opening of The Lotus Palace Chettinad in Tamil Nadu, a heritage hotel under The Park Collection brand. The hotel is situated in the Town of Palaces – Kanadukathan, near Karaikudi. The hotel is in a building said to be built in the late 17th century. The 15-room heritage palace features an eclectic mix of furniture and antique pieces. A fine dining Chettinad Thali restaurant 86 Pillars is available for guests and visitors. The bar is called 1795, named after the year the Palace was reportedly built, and it transitions to the outdoor poolside space called Aqua, the signature poolside bar lounge. The Red Room is for a high tea experience and it leads to The Library, a gallery running along the façade, housing a wide variety of reading material. The luxury spa is called Aura, and there is also The Sunset Terrace with views of the village roofscapes.

Indian Hotels Company Ltd bought a majority stake in the operating company of Tree of Life Resorts & Hotels. IHCL said their Board of Directors approved the execution of a share subscription and purchase agreement, and shareholders’ agreement to acquire a 55% stake for up to Rs 18 crore in Rajscape Hotels Pvt Ltd, the owner of Tree of Life. IHCL said they are aiming to scale Tree of Life to 100 properties by 2030, reflecting growing demand for experiential leisure. Tree of Life currently has properties in more than 15 destinations including Dared, Dehradun, Varanasi, Binsar and Udaipurwati. The portfolio spans 19 resorts and hotels with two under development. IHCL had earlier this year announced that it had expanded its brand portfolio through a strategic alliance with Kolkata-based Ambuja Neotia Group for Tree of Life.

The Oberoi family continues to battle over the family hotel company. It wound up having the court decide on the makeup of the board of directors with confirmation during the annual general meeting that the court appointed Anastasia Oberoi, daughter of late hotelier PRS Oberoi, along with her step-siblings Vikramjit Singh Oberoi and Natasha Oberoi, and her cousin Arjun Singh Oberoi, as Director of Oberoi Hotels and Oberoi Properties. The decision by the court was necessary following a legal battle over the will of Anastasia’s late father, the founder of the Oberoi Group. She is arguing the validity of the March 1992 will, saying it excludes her interests, as outlined in a later 2021 will, which she claims entitles her to share in the family estate and the governance of the businesses. The core of the dispute is the battle over the transfer of shares in Oberoi Hotels and its holding companies with Anastasia and her mother alleging her step-siblings are blocking the execution of the 2021 will.

Sands China‘s revamped Venetian Arena will open this month. Sands China said The Venetian Arena completed a large-scale fire drill comprising 400 team members who tested the emergency response procedures and evacuation plan for the arena. The previous Cotai Arena was closed in January for major renovation works. The new-look The Venetian Arena features state-of-the-art VIP amenities and suites, new décor, and technical upgrades that ensure it offers the best arena acoustics in Macau. The arena is expected to reopen later this month.

Gongzi Casino on Jeju Island, South Korea halted its operations this past Sunday. The hotel where the casino is based, Ramada Plaza by Wyndham Jeju Ocean Front, is due to close for refurbishment and rebranding by the end of the year. The casino license will remain active as officials are saying the closure of the casino in anticipation of the closing of the hotel it is based in is a “proper reason” under their interpretation.

Personnel Moves

PH Resorts Group Holdings Inc. reported that Ms. Ma. Angela E. Ignacio has resigned from her position as an independent director of the Filipino company. This follows Ignacio’s appointment as Undersecretary within the Office of the Special Assistant to the President for Investment and Economic Affairs. PH Resort Group, under the Udenna Group umbrella, said the company expects to continue its ambitious project portfolio.

Mandarin Oriental announced the appointment of Amanda Hyndman to the position of Chief Operating Officer, effective November 1, 2024. This follows the retirement of Christoph Mares. For now, Hyndman will also continue in her role as Chief People & Culture Officer.