Tuesday , 23 October 2018
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ECONOMIC SCAN

Workshop on natural cosmetics on Oct 23

PANAJI: The women’s wing of GCCI is organising a workshop on natural cosmetics on October 23, from 2pm to 6 pm. The workshop   will be  conducted by Dr Gauri Bobhate, a homeopathic doctor and cosmetologist by profession, who will  teach  participants  to  make  their  own skincare products like handmade soaps, exfoliating scrubs, shampoo,  hand and body creams, etc, from naturally available ingredients. There is a registration fee of Rs 1,000  per  person for the programme.

Hyatt acquires Two Roads Hospitality

MUMBAI: Hyatt Hotels Corporation on Thursday announced an agreement to acquire Two Roads Hospitality, an international lifestyle hotel management company with a unique collection of distinctive brands, properties and a robust development pipeline around the globe. Through the addition of Two Roads, its established lifestyle brands and the management agreements for the majority of its 85 properties in eight countries, Hyatt will expand its brand presence into 23 new markets while enhancing its offerings in lifestyle hotel experiences and wellbeing.  The acquisition consists of a base purchase price of $480 million, with the potential for Hyatt to invest up to an additional $120 million in the aggregate, contingent on the outcome of certain terms to be individually defined after closing. The base plus contingent total purchase price is expected to reflect an EBITDA multiple of approximately 12-13x stabilized 2021 earnings, which Hyatt considers the best indicator of valuation based on anticipated synergies and growth.

Malabar Gold and Diamonds
announces global growth plan

MUMBAI: The Malabar Gold & Diamonds, one of the world’s largest jewellery retailer, announces ambitious global growth plan on the eve of its silver jubilee (25 years) celebrations that will see the company triple its retail network from 250 showrooms this year to 750 outlets in the next five years with annual turnover exceeding US$6.16 billion (Rs 45,000 crore) and the group turnover to US$6.85 billion (Rs 50,000 crore) by 2023. The company plans to invest US$ 960 million (Rs 7,000 cr) to manage the growth and expansion. The expansion will see Malabar Group expand its investor base from 2,752 and include more investors from North and Central Indian states, so that they could also be a part of the success of Malabar Gold and Diamonds. The Group currently operates retail outlets spread across ten countries in the India, Middle East, Southeast Asia and America.

 

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