You are here: Home >> English News & Features >> BUSINESS & ECONOMY

Lemon Tree to close Keys deal

DNMUM442819 | 9/12/2019 | Author : Ashish K Tiwari | WC :300



Mumbai: Lemon Tree Hotels is set close the acquisition of Berggruen Hotels (Keys Hotels) soon. The company had in July this year said that its subsidiary Fleur Hotels will acquire the Berggruen Hotels Pvt Ltd for Rs 471 crore.
In a recent analyst meet, Lemon Tree Hotels officials said the financials of Keys Hotels are expected to be integrated with Lemon Tree from October 2019.
“The management was confident that after the acquisition is complete, the average room rate (ARR) of Keys Hotels could be increased on par with Lemon Tree. Therefore, the earnings before interest, tax, depreciation and amortisation (Ebitda) margin is not expected to decline,” Amit Agarwal, research analyst, Nirmal Bang Institutional Equities said
Read full story



Copyright restricted. Under license from www.dnasyndication.com   
Add To Lightbox
Calculate Price

More on BUSINESS & ECONOMY

Know these waiting periods in your health insurance plan
DNMUM443362 | 9/23/2019 12:00:00 AM | Author : Abeer Ray | WC :905

Irrespective of how much you earn or save, the uncertainty of life can take a toll on your happiness. What happens if you are suddenly hospitalised for treating a disease or an injury and must pay medical bills from your hard-earned money? It is hard
Add To LightboxCalculate Price

Focus on death, disease and disability while buying term insurance plan
DNMUM443363 | 9/23/2019 12:00:00 AM | Author : Anil Kumar Singh | WC :766

A recent survey on uncertainties amongst people highlighted that 84% Indians feel life is extremely uncertain. Among the reasons for uncertainty, ‘financial security of family in case of something happens to self’ remained the topmost cause, followed
Add To LightboxCalculate Price

D-St bullish, but expect some cooling off
DNMUM443367 | 9/23/2019 12:00:00 AM | Author : Soumonty Kanungo | WC :321

Mumbai: After witnessing a massive rally on Friday post the government’s announcement to cut the corporate tax rate, analysts feel the upsurge may not sustain and equity markets could see some cooling off in the current week.
Key equity benchmark
Add To LightboxCalculate Price

Economic recovery seen by March quarter on reforms
DNMUM443368 | 9/23/2019 12:00:00 AM | Author : Anjul Tomar | WC :399

New Delhi: Fiscal measures taken by the government are likely to boost investment in the long run and increase consumption demand during the festive season.
However, due to the lack of steps to stimulate demand, an economic recovery is expected
Add To LightboxCalculate Price