DLF and Hilton to set up hotels jointly

Gurgaon-based DLF group and overseas giant Hilton is planning to set up a chain of hotels across the country at an estimated investment of Rs 100-120 billion.DLF will hold 74% in the JV, with Hilton holding the rest. The foreign chain will have the option of increasing its stake to 49% after some years.
In April `04, Hilton International signed a strategic alliance with EIH Limited, giving the company a presence in eight locations across India, seven of which was under the Trident Hilton brand and the eighth being Hilton Towers in Mumbai.
EIH manages all the hotels while Hilton is responsible for international marketing, promotion and reservations through the Hilton global network. While Trident Hilton Mumbai, a 500-room new property in north Mumbai, is scheduled to open next year, Hilton also has management contracts for three properties.

Source:http://www.myiris.com/

Israeli firm to raise $700 mn for Indian realty

Eager to cash in on the Indian real estate boom, Israeli firm Clal Insurance Enterprises Holdings and other companies are raising a $700 million fund for invesments in India, a media report said.

Clal Insurance, which has invested $15 million in the international fund, has been seeking international investments for its reserves given the lack of worthwhile investments in Israel, the report said. It recently invested $20 million in AIG Inc's $500 million real estate fund, which mostly invests in seafront residential properties.

Source: http://www.business-standard.com/common/storypage_c.php?leftnm=11&bKeyFlag=IN&autono=5063