Online Travel Portals ibibo and MakeMyTrip Announce Merger

India’s largest travel booking portals, ibibo and MakeMyTrip have announced an all-stock merger last week, reportedly valued at about US$1.8-2 billion. The newly merged entity will bring together several renowned brands in the accommodation segment – which include Rightstay (alternate accommodation), GoStays (unbranded budget accommodation aggregator), Value+ (budget room brand by MakeMyTrip) – under one umbrella, in addition to online bus ticketing platform redBus and ridesharing platform Ryde. The combined entity is expected to dominate the space with an overall market share ranging between 50% and 60%, especially in the more lucrative hotel and travel packages segment, which is considered to be the growth driver for travel companies in India.

Carlson Rezidor Signs Radisson RED Kuala Lumpur City Center in Malaysia

Last week, Carlson Rezidor Hotel Group and Masteron Sdn Bhd signed the first Radisson RED in Kuala Lumpur, Malaysia. Spanning 27 floors, the Radisson RED Kuala Lumpur City Center will be located just 800 meters from the iconic Petronas Twin Towers and and is expected to open in 2022. In alignment with the Radisson RED brand philosophy, this 166-key upscale lifestyle hotel aims to appeal to the millennial-minded by offering its guests a non-traditional stay experience that combines work and play, and is inspired by design, art, music and fashion. Facilities at the hotel include beverage outlets such as Ouibar, meeting rooms with a view of the Petronas Twin Towers, a roof-top swimming pool and a fitness center. Carlson Rezidor currently has 107 operational hotels and 88 under development in the Asia Pacific region, and aims to double its portfolio in the medium term through anchor markets as well as portfolio deals.

Marriott International Launches the JW Marriott in Kolkata, India

US based hospitality chain Marriott International announced the opening of the JW Marriott Kolkata in Kolkata, West Bengal, earlier this week. Located along J.B.S. Haldane Avenue, approximately 15 kilometers southwest of the city’s Netaji Subhash Chandra Bose Airport, the 24-storey hotel features 281 rooms with base category rooms measuring approximately 39 square meters. The hotel also features six restaurants, approximately 40,200 square feet of meeting space with the largest ballroom measuring approximately 13,500 square feet, a swimming pool, a fitness center, and a spa.

Second Shangri-La Hotel in China’s Harbin City Scheduled to Open This December

Shangri-La Hotels & Resorts announced that their second hotel in Harbin is set to this December, ahead of the Harbin Ice and Snow Festival. Located on the edge of the Songhua River’s north bank, the Songbei Shangri-La, Harbin is situated at the center of the Songbei’s business district, and is also within five minutes’ driving distance of the Harbin Ice & Snow world. The Songbei Shangri-La Harbin features 344 guest rooms and 33 executive service apartments, which range from 42 to 178 square meters, and offer views of the city and river. Food and beverage offerings at the hotel include an all-day dining restaurant, a specialty Chinese restaurant, a gourmet pub for food take away, a lobby lounge and a bar, Additional facilities at the hotel comprise a spa, an indoor swimming pool, and a 1,616-square-meter ballroom that can accommodate up to 1000 people.

Absolute Share Price Performance, as on 27 October 2016