Sterling Holiday Resorts (India) Limited

Sterling Holidays
Public
Traded as NSE: THOMASCOOK
BSE: 500413
Industry Leisure Hospitality, Vacation Ownership
Founded 1986
Founder R. Subramanian
Headquarters Chennai, Tamil Nadu, India
Key people
 Ramesh Ramanathan(Managing Director)
Products Leisure Travel, Timeshare, Vacation Ownership, MICE, Corporate Travel, Adventure Holidays
Parent Sterling Holiday Resorts Limited
Website www.sterlingholidays.com


Sterling Holiday Resorts Limited (known as Sterling) a holiday lifestyle company was incorporated in the year 1986. In 2015, Sterling Holiday Resorts India Limited became a 100% independently managed subsidiary of Thomas Cook India Limited (TCIL) in the back of the former's equity shares being bought in an off-market transaction by Thomas Cook Insurance Services (TCISIL).

Thomas Cook India Limited (TCIL) traded on stock exchange as NSE: THOMASCOOK; BSE: 500413. Sterling currently has 29 resorts at some of the most sought after destinations in India.

Sterling Holiday Resorts Limited, signed an agreement in October 2015 to acquire Nature Trails Resorts Private Limited - an adventure holiday company that operates resorts at 4 destinations in Maharashtra. It has been reported that the company is looking at expanding to more destinations.[1]

Sterling is affiliated with Resorts Condominium International (RCI). It is also accredited by AIRDA[2] (All India Resorts Development Association).

History

Sterling was established in 1986 in Chennai, India, and opened its first resort, Lake View Kodaikanal (the resort has been recently renamed as Kodai - By The Lake). Sterling Holidays expanded to 11 resorts by the year 1988 In 2010, the company changed its brand name from Sterling Resorts to Sterling Holidays.[3]

The company today has 33 resorts in 29 destination and plan to add 17 more resorts.[4]

Sterling Holiday Resorts unveils new brand identity to align with new brand strategy on 6 December 2017.

Resorts

The resorts in the Sterling destination network are spread across India. The resorts are as follows:

Sterling Resort Logo of bloggers meet in Puri resort
Sterling Resort Puri interiors

Resorts [5]

  1. Sterling Agra
  2. Sterling Anaikatti
  3. Sterling Corbett
  4. Sterling Darjeeling
  5. Sterling Daman
  6. Sterling Dharamshala
  7. Sterling Dindi
  8. Sterling Gangtok
  9. Sterling Goa Bardez
  10. Sterling Goa Varca
  11. Sterling Kanha
  12. Sterling Karwar
  13. Sterling Kodai Lake
  14. Sterling Kodai Valley
  15. Sterling Kufri
  16. Sterling Lonavala
  17. Sterling Manali
  18. Sterling Munnar
  19. Sterling Mussoorie
  20. Sterling Nainital
  21. Sterling Ooty Elk Hill
  22. Sterling Ooty Fern Hill
  23. Sterling Puri: Sterling Resort Puri is located in the outskirts of Puri. It is far from the crowded areas of the popular tourist destination and pilgrimage of Puri. It is located 7 km from the Puri Railway Station and has its own beach. It has well furnished rooms with comfortable beds and mini bars. There are conference and banquet facilities and serves as a destination wedding location. Other felicities include restaurant, games room, gym, spa and an outdoor swimming pool.[6]
  24. Sterling Sariska
  25. Sterling Shridi
  26. Sterling Thekkady
  27. Sterling Wayanad
  28. Sterling Yelagiri
  29. Sterling Yercaud

Thomas Cook also planning to expand resort on urgent basis to become number one holidays company in terms of holidays service provider. Luxe Asia from Sri Lanka and Nature trail in Maharastra and very keen to expanding business in India and Overseas.

Timeline [7]

  • 1986 - The company was incorporated as a Private Limited Company on 22 May and converted into a Public Limited Company on 11 Dec 1989.
  • 1988 - Sterling Holidays inaugurated the country's first Time Share holiday resort in Kodaikanal on 15 April.
  • 1990 - Launched Ooty - Elk Hill
  • 1993 - Launched Ooty - Fern Hill
  • 1994 - Launched Puri - Golden Sands
  • 1995 - The company expanded the resort network in Darjeeling, Goa, Manali, etc.
  • 2006 - Sterling Holiday Resorts India appointed Mr S.Sidharth Shankar as an Additional Director (Non-Executive Director) of the Company.
  • 2009 - Sterling Holiday Resorts India Ltd appointed Mr.Amit Jatia, as Additional Director on the Board of the Company.
  • 2010 - Sterling Holiday Resorts (India) reports net profit of Rs.0.06 crore in the March 2010 quarter
  • 2011 - On 4 July, Mr. Ramesh Ramanathan moved to Sterling Holidays as the new Managing Director.
  • 2015 - Sterling Holiday Resorts Limited became a 100% independently managed subsidiary of Thomas Cook India Limited (TCIL).
  • 2015 - On 26 October, Sterling Holidays Forays Into Adventure Tourism, Acquires Nature Trails - an adventure holiday company.
  • 2016 - Launched Sterling Agra, Sterling Kufri, Sterling Anaikatti
  • 2017 - Launched Sterling Goa Varca, Sterling Kanha, Sterling Wayanad
  • 2017 - On 6 December, Sterling Holiday Resorts unveils new brand identity to align with new brand strategy

About investors

In 2009, Bay Capital (formerly Indus Hospitality Fund) invested in Sterling Holiday Resorts,[8] acquiring an 18.80% stake. Again in 2009, India Discovery Fund acquired a 7% stake in the company. Bay Capital and others (including India Discovery Fund, Damani group and Jhunjhunwala group) now holds a total stake of 47.42% in Sterling Holiday Resorts through its funds.

In July 2011, the Company announced an Extraordinary General Meeting on 13 August 2011 to seek shareholder approval to raise Rs. 121.5 crore capital through the issuance of equity shares & warrants on a preferential basis to a consortium of investors led by Rakesh Jhunjhunwala and Radhakrishna Damani.[9]

In 7 February 2014, Thomas Cook India Ltd. (TCIL) & Sterling Holiday Resorts Limited announced a merger between the companies.[10]

References

  • "Sterling Holidays revamps brand identity and logo > afaqs! news & features". Afaqs.com. 25 January 2011.
  • "Sterling Holiday Resorts (I)History | Sterling Holiday Resthan – MD, Sterling Holiday Resorts India Ltd". YouTube. 21 July 2011.
  • "Rakesh Jhunjhunwala's 5 Reasons To Buy Sterling Holiday Resorts". 14 August 2011. Retrieved 25 November 2012.
  • 4 Jul 2011 Nargis Namazi (4 July 2011). "Sterling Holiday Resorts appoints new Managing Director – Business Review India". Businessreviewindia.in.
  • "SLHR:BSE India Stock Quote – Sterling Holiday Resorts India Ltd". Bloomberg. 10 May 2012.
  • "Bombay HC approves Thomas Cook India-Sterling Holiday merger". Business Standard. 14 July 2015.
  • "Sterling Holiday Resorts Inks Pact to Acquire Nature Trails". NDTV Profit. 26 October 2015.
  • "By the River". The Hindu. 10 September 2016.
  • "Come Discover a Quaint Destination Lost in Time 'Anaikatti - By the Siruvani', a Sterling Holidays resort". The Hans India. 8 September 2016.
  • Sterling Holidays article in Business Today
  • "Thomas Cook owned Sterling Holidays undergoes brand revamp to woo young travellers". Live Mint. 8 December 2017.
  • "How Sterling's Ramesh Ramanathan turned the brand around - and plans to do it again". Economic Times. 8 December 2017.
  • "Sterling Holiday Resorts unveils new brand identity to align with new brand strategy". Travel Biz Monitor. 6 December 2017.
  1. ↑ "Sterling Holiday Resorts Inks Pact to Acquire Nature Trails". NDTV Profit. 26 October 2015.
  2. ↑ http://www.airda.org/
  3. ↑ http://www.afaqs.com/news/story.html?sid=29516_Sterling+Holidays+revamps+brand+identity+and+logo
  4. ↑ Rout, Hemant Kumar (9 May 2018). "Sterling's theme-based holiday resorts offer unexpected surprises to visitors" (The New Indian Express). The New Indian Express. Retrieved 17 September 2018.
  5. ↑ http://www.sterlingholidays.com/all-resort
  6. ↑ Duttagupta, Samonway. "Puri - Golden Sands, A Sterling Holidays Resort". Times Travel. Times of India. Retrieved 17 September 2018.
  7. ↑ "Sterling Holiday Resorts (I) Ltd". The Times Of India.
  8. ↑ "Bay Capital-backed Sterling Resorts raising Rupees 120Cr". Reuters. 21 July 2011.
  9. ↑ "Rakesh Jhunjhunwala and Radhakrishna Damani to buy 1 crore shares in Sterling Resorts". The Times Of India. 20 July 2011.
  10. ↑ "Bombay HC approves Thomas Cook India-Sterling Holiday merger". Business Standard. 14 July 2015.

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