Sterling Holiday Resorts (India) Limited




Sterling Holiday Resorts (India) Limited is a vacation ownership and leisure hospitality company based headquartered in Chennai India.

History

Established in 1986 in Chennai, India, Sterling Resorts began marketing and selling vacation ownership (previously known as timeshare) in the four Southern States of India: Tamil Nadu, Kerala, Karnataka and Andhra Pradesh, The first timeshare resorts it planned to build were in the Southern hill-stations of Kodaikanal and Ooty.

The company opened its first resort, Lake View Kodaikanal, and began to expand to other destinations. By 1995, Sterling had developed 11 resorts.

In 2010, the company changed its brand name from Sterling Resorts to Sterling Holidays.

In 2011 Sterling added 3 new resorts, in Thekkady, Karwar and Goa. The company has 1370 apartments spread across a network of 17 resorts in 14 destinations.

Sterling Holiday Resorts is listed in the Bombay Stock Exchange (BSE). Its symbol is STERLINH.

It reported a net loss of Rs 40 crore for the year 2012 against Rs 30 crore in the previous year.[1]

[edit]Resorts

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

[edit]Owned
Sterling Holidays Fern Hill, Ooty
Sterling Holidays Elk Hill, Ooty
Kodai - By The Lake
Sterling Holidays Valley View, Kodaikanal
Sterling Holidays Green Vistas, Munnar
Sterling Holidays Rock Perch, Yercaud
Sterling Holidays Golden Sands, Puri
Sterling Holidays Silver Oaks, Darjeeling
Sterling Holidays Pine Hill, Mussoorie
Sterling Holidays White Mist, Manali
[edit]Leased
Sterling Holidays Woods n’ Spice, Thekkady
Sterling Holidays Emerald Bay, Karwar
Sterling Holidays Villagio Inn, Goa
Sterling Holidays Kasturi Plaza, Gangtok
Sterling Holidays Madhura, Yelagiri
Sterling Holidays Mayur, Lonavala
Sterling Holidays Sunshine Royal, Goa
[edit]Timeline

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.
1995 – The Company undertook the second phase of expansion by building resorts in Mussoorie, Darjeeling, Goa, Puri, Kodaikanal, 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.
[edit]About new investors

In 2009, Bay Capital (formerly Indus Hospitality Fund) invested in Sterling Holiday Resorts, acquiring a 16.11% stake[3]. This was followed by Bay picking up a 3.45% stake in December 2010 through India Discovery Fund and an additional 1.1% stake in March 2011 through an open market transaction. Bay Capital now holds a stake of 20.6% 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. 120 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.

[edit]References

[2] [3] [4] [5] [6] [7] [8] [9] [10]

^ "Sterling Holiday Resorts posts Rs 6-cr net loss". 01 June 2012.
^ "Sterling Holidays revamps brand identity and logo > afaqs! news & features". Afaqs.com. 25 January 2011.
^ "Sterling Holiday Resorts (I)History | Sterling Holiday Resorts (I) Ltd Company History & Profile". Economictimes.indiatimes.com.
^ "Matthew Garrahan | Mergers, Acquisitions, Private Equity, Venture Capital, Investment Banking". Vccircle.com. 8 May 2012.
^ http://www.sterlingholidays.in/uploadedfiles/file/egm_notice_13082011.pdf
^ "Sterling Resorts’ revamp plan gets vote of confidence – Corporate News". livemint.com. 21 July 2011.
^ "Better holidays | Q&A with Mr. Ramesh Ramanathan – MD, Sterling Holiday Resorts India Ltd.". YouTube. 21 July 2011.
^ http://www.rmdhar.com/index.php/2011/08/14/rakesh-jhunjhunwalas-5-reasons-to-buy-sterling-holiday-resorts/
^ 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.
[edit]External links

Sterling Holiday Resorts (India) Limited Official website


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