Sterling Holiday Resorts Limited
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).
Public | |
Traded as | NSE: THOMASCOOK BSE: 500413 |
Industry | Leisure Hospitality, Vacation Ownership |
Founded | 1986 |
Founder | R. Subramanian |
Headquarters | |
Key people | Ramesh Ramanathan(Chairman and Managing Director) |
Products | Leisure Travel, Timeshare, Vacation Ownership, MICE, Corporate Travel, Adventure Holidays |
Parent | Sterling Holiday Resorts Limited |
Website | www |
Thomas Cook India Limited (TCIL) traded on stock exchange as NSE: THOMASCOOK; BSE: 500413. Sterling currently has 32 resorts 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) which has 4600 affiliated resorts worldwide and 110 resorts in India. It is also accredited by AIRDA (All India Resorts Development Association).[2]
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 35 resorts in 29 destination and plan to add 17 more resorts.[4]
Resorts
The resorts in the Sterling destination network are spread across India. The resorts are as follows:
Resorts [5]
- Sterling Agra
- Sterling Anaikatti
- Sterling Corbett
- Sterling Darjeeling
- Sterling Dharamshala
- Sterling Gangtok
- Sterling Gangtok - Orange Village
- Sterling Goa Bardez
- Sterling Goa Varca
- Sterling Guruvayur
- Sterling Atharva - Jaipur
- Sterling Kanha
- Sterling Karwar
- Sterling Kodai - Lake
- Sterling Kodai - Valley
- Sterling Kufri
- Sterling Lonavala
- Sterling Manali
- Sterling Mount Abu
- Sterling Munnar
- Sterling Mussoorie
- Sterling Nainital
- Sterling Ooty - Elk Hill
- Sterling Ooty - Fern Hill
- Sterling Puri
- Sterling Rajakkad
- Sterling Sariska
- Sterling Shridi
- De Laila HouseBoats Srinagar
- Sterling Thekkady
- Sterling Wayanad
- Sterling Yelagiri
- Sterling Yercaud
Timeline[6]
- 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
- 2018 - Launched Sterling Atharva - Jaipur, Sterling Mount Abu
- 2019 - Launched Sterling Guruvayur, Sterling Rajakkad
About investors
In 2009, Bay Capital (formerly Indus Hospitality Fund) invested in Sterling Holiday Resorts,[7] 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.[8]
On 7 February 2014, Thomas Cook India Ltd. (TCIL) & Sterling Holiday Resorts Limited announced a merger between the companies.[9]
References
- "Sterling Holiday Resorts Inks Pact to Acquire Nature Trails". NDTV Profit. 26 October 2015.
- http://www.airda.org/
- http://www.afaqs.com/news/story.html?sid=29516_Sterling+Holidays+revamps+brand+identity+and+logo
- Rout, Hemant Kumar (9 May 2018). "Sterling's theme-based holiday resorts offer unexpected surprises to visitors". The New Indian Express. Retrieved 17 September 2018.
- https://www.sterlingholidays.com/resorts-hotels
- "Sterling Holiday Resorts (I) Ltd". The Times of India.
- "Bay Capital-backed Sterling Resorts raising Rupees 120Cr". Reuters. 21 July 2011.
- "Rakesh Jhunjhunwala and Radhakrishna Damani to buy 1 crore shares in Sterling Resorts". The Times of India. 20 July 2011.
- "Bombay HC approves Thomas Cook India-Sterling Holiday merger". Business Standard. 14 July 2015.
External links
- "Sterling Holidays revamps brand identity and logo". Afaqs.com. 25 January 2011.
- "Sterling Holiday Resorts (I)History | Sterling Holiday Resthan – MD, Sterling Holiday Resorts India Ltd". 21 July 2011 – via YouTube.
- "Rakesh Jhunjhunwala's 5 Reasons To Buy Sterling Holiday Resorts". 14 August 2011. Retrieved 25 November 2012.
- Namazi, Nargis (4 July 2011). "Sterling Holiday Resorts appoints new Managing Director". Business Review India.
- "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.
- "Sterling Holiday Resorts bags India Travel Awards- South 2018". BusinessNewsThisWeek. 16 May 2018.
- "Sterling Holidays to offer full travel cover; ties up with Digit Insurance". The HinduBusinessLine. 31 May 2018.
- "Sterling Holiday Resorts launches India's first comprehensive holiday insurance". TravelBizMonitor. 11 June 2018.
- "Sterling Holiday Resorts to open its 34th resort in Jaipur". TourismBreakingNews. 20 August 2018.
- "Sterling Holiday Resorts launches its 34th resort in Jaipur". ProTourism. 7 December 2018.
- "Sterling Holiday Resorts wins two awards at the prestigious ABP Brand Excellence Awards 2018". TheHansIndia. 19 December 2018.
- "Sterling Holidays Launches New Resort in Mount Abu". ProTourism. 26 February 2019.
- "Sterling Holiday Resorts unveils a TV and digital campaign for pan Indian audiences". The Economic Times. 4 February 2019.
- "Sterling Holidays new TVC captures the joy of holidaying differently". Exchange4Media. 4 February 2019.
- "Sterling holidays new tvc captures the joy of holidaying differently". AdGully. 5 February 2019.
- "Sterling Holidays' Guruvayur property launched". BusinessLine. 3 September 2019.