Rahul Sharma (Editor)

Sterling Holiday Resorts (India) Limited

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Type
  
Public

Headquarters
  
India

Founder
  
R. Subramanian

Founded
  
1986

Sterling Holiday Resorts (India) Limited wwwsterlingholidayscomimageslogopng

Traded as
  
NSE: THOMASCOOK BSE: 500413

Industry
  
Leisure Hospitality, Vacation Ownership

Key people
  
Ramesh Ramanathan(Managing Director)

Products
  
Leisure Travel, Timeshare, Vacation Ownership, MICE, Corporate Travel, Adventure Holidays

Parent organization
  
Thomas Cook Insurance Services (India) Ltd

Subsidiaries
  
Manchanda Resorts Private Limited, Nature Trails Resorts Pvt Ltd, Sterling Holiday Financial

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Sterling Holiday Resorts Limited (known as Sterling Holidays) 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).

Contents

Thomas Cook India Limited (TCIL) traded on stock exchange as NSE: THOMASCOOK; BSE: 500413. Sterling currently has 26 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.

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

History

Sterling Holidays 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.

The company today has 27 resorts in 23 destination and 1896 rooms.

Resorts

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

Resorts

  1. Ooty - Fern Hill, A Sterling Holidays Resort
  2. Ooty - Elk Hill, A Sterling Holidays Resort
  3. Kodai - By The Lake, A Sterling Holidays Resort
  4. Kodai - By The Valley, A Sterling Holidays Resort
  5. Munnar - Terrace Greens, A Sterling Holidays Resort
  6. Yercaud - Rock Perch, A Sterling Holidays Resort
  7. Puri - Golden Sands, A Sterling Holidays Resort
  8. Darjeeling - Khush Alaya, A Sterling Holidays Resort
  9. Mussoorie - Dancing Leaves, A Sterling Holidays Resort
  10. Manali - White Mist, A Sterling Holidays Resort
  11. Thekkady - Woods n’ Spice, A Sterling Holidays Resort
  12. Karwar - Emerald Bay, A Sterling Holidays Resort
  13. Goa - Villagio, A Sterling Holidays Resort
  14. Goa - Club Estadia, A Sterling Holidays Resort
  15. Gangtok - Delisso Abode, A Sterling Holidays Resort
  16. Yelagiri - MariGold Ridge, A Sterling Holidays Resort
  17. Lonavala - Under the Over, A Sterling Holidays Resort
  18. Corbet - Treetop Riverview, A Sterling Holidays Resort
  19. Dharamsala - The Sanctuary, A Sterling Holidays Resort
  20. Nainital - Bhawanipur Greens, A Sterling Holidays Resort
  21. Sariska - Tiger Heaven, A Sterling Holidays Resort
  22. Daman - Casa Tereso, A Sterling Holidays Resort
  23. Shirdi - Sai Wada, A Sterling Holidays Resort
  24. Dindi - By The Godavari, A Sterling Holidays Resort
  25. Kufri- White Ridge , A Sterling Holidays Resort
  26. Agra- Rigel Vista , A Sterling Holidays Resort
  27. Anaikatti- By The Siruvani , A Sterling Holidays Resort

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.
  • 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.

    • About investors

    In 2009, Bay Capital (formerly Indus Hospitality Fund) invested in Sterling Holiday Resorts, 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.

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

    References

    Sterling Holiday Resorts (India) Limited Wikipedia
    (Text) CC BY-SA