Oriental Hotels has exited Ginger Hotels by selling it's stake to Omega TC Holding Pte Ltd. The Compulsorily Convertible Preference Shares (CCPS) held by OHL were acquired by Singapore-based Omega TC Holdings Pte Ltd.
This deal is a part of Omega's arrangement with IHCL announced in March 2011, under which the investment firm was to acquire the CCPS held by some existing holders for R70Cr. Under the deal, Omega had also agreed to invest R150Cr in tranches for a minority stake, taking its overall investment in Ginger Hotels to R220Cr.
A Tata Group company, Roots Corporation was established in 2003 and operates the Ginger chain of budget hotels across India. It has 25 hotels across the country including Ahmedabad, Vadodara, New Delhi, Pune (Pimpri and Wakad), Nashik, Panaji, Ludhiana, Guwahati, Durg, Haridwar, Bhubaneswar, Thiruvananthapuram, Pantnagar (Rudrapur), Agartala, Jamshedpur, Bangalore, Mysore, Mangalore, Puducherry Delhi (Vivek Vihar), Manesar, Surat and Chennai.
Ginger Hotels Operational Performance
Oriental Hotels is the Chennai-based associate company of Tata Group promoted Indian Hotels Co Ltd (IHCL) which owns eight hotels operated under Taj, Vivanta and Gateway brands across various south Indian cities.
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 27/01/12 |
Oriental Hotels (Exit) - Ginger Hotels - Omega TC Holding Pte |
M&A |
Omega TC Holdings Pte Limited |
- |
| 30/11/11 |
Ginger Hotels - Tata Capital |
Private Equity |
Tata Opportunities Fund |
- |
| 16/03/11 |
Roots Corporation - Omega TC Holdings |
Private Equity |
Omega TC Holdings Pte Limited |
33.26 |
| 16/03/11 |
Roots Corporation - Omega TC Holdings (CCPS) |
Private Equity |
Omega TC Holdings Pte Limited |
15.50 |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 08/02/12 |
Private Equity |
Bain Capital Advisors India Private Limited |
Barbeque Nation Hospitality Limited |
30.00 |
Planned |
| 01/02/12 |
Private Equity |
|
CGH Earth |
50.49 |
Planned |
| 30/01/12 |
IPO / Offerings |
|
Pride Hotels Limited |
25.30 |
Called Off |
| 30/01/12 |
M&A |
Sahara Group |
Marriott Hotels Inc |
1175.47 |
Planned |
Company |
| Name | Promoters | Office | Competitor | Website |
| Oriental Hotels Limited |
Tata Group |
No.37, Mahatma Gandhi Road |
Asian Hotels (North) Limited |
www.orienthot.co.in |
| Roots Corporation Limited (Ginger Hotels) |
Indian Hotels Company Limited |
Godrej And Boyce complex, Gate No.8, Plant No.13, Office Building, Vikhroli. |
|
www.gingerhotels.com |
