Ghost Kitchens India Expands with Acquisition of Shy Tiger Brands in Gujarat

Ghost Kitchens India Expands with Acquisition of Shy Tiger Brands in Gujarat

By Nithyakala Neelakandan

Published on April 13, 2024

Ghost Kitchens India, a leading food-tech platform, has acquired Shy Tiger Brands, a prominent cloud kitchen company headquartered in Ahmedabad. This acquisition follows Ghost Kitchens’ recent successful fundraising round of $5 million USD in February 2024, showcasing the company's financial strength and growth trajectory.

Established in 2018, Shy Tiger operates five multi-brand cloud kitchens across Ahmedabad, boasting an impressive annualized run rate (ARR) of INR 5 crores. Notable brands under its portfolio include KBOB’s and The Black Chimney. Ghost Kitchens’ acquisition of Shy Tiger aims to integrate its own brands into Shy Tiger’s infrastructure, thereby strengthening its foothold in Gujarat.

Commenting on the acquisition, Karan Tanna, Founder & CEO of Ghost Kitchens, expressed optimism about scaling existing brands and expanding into Ahmedabad and the wider Gujarat market. Tanna highlighted the strategic benefits of leveraging brand loyalty and high customer retention rates, anticipating improved unit economics and substantial revenue growth.

Ghost Kitchens has a track record of strategic acquisitions to enhance its operational capabilities. Previous acquisitions include technology firm WTF in 2022, enabling the development of proprietary technology, and Speak Burgers, led by celebrity Chef Vicky Ratnani, in February 2023, with plans for offline retail expansion.

Milapsinh Jadeja, Director of Shy Tiger, expressed confidence in Ghost Kitchens’ operational model and technological prowess, endorsing the partnership and validating Ghost Kitchens’ business strategy.

Founded in 2019, Ghost Kitchens operates over 15 company-owned and operated cloud kitchens in Mumbai and Ahmedabad, along with 1200 internet restaurants across 40 cities in India. With a focus on expanding its company-owned footprint, launching celebrity-endorsed brands, and venturing into retail, Ghost Kitchens aims to achieve an annualized revenue of approximately 200 crores within the next 2 years.

The acquisition of Shy Tiger Brands marks another milestone in Ghost Kitchens’ growth journey, signaling its commitment to delivering innovative dining experiences and expanding its presence across India.


Royal Caribbean Group raises dividend by 33% to $1 per share

Royal Caribbean Group raises dividend by 33% to $1 per share

By Manu Vardhan Kannan

Published on September 14, 2025

Royal Caribbean Group (NYSE: RCL) has announced a significant increase in its shareholder returns, declaring a 33% hike in its quarterly dividend. The company’s Board of Directors approved a dividend of $1.00 per common share, payable on October 13, 2025, to shareholders of record at the close of business on September 25, 2025.

Jason Liberty, President and CEO of Royal Caribbean Group, said the move underscores the company’s confidence in its performance and long-term growth strategy. “Today’s dividend increase reflects both the strength of our performance and our commitment to return capital to shareholders. This increase in dividend, along with our ongoing share repurchase program, highlights our balanced approach to capital allocation, returning value to shareholders while funding future growth,” Liberty stated.

Royal Caribbean Group is a global leader in the vacation industry, operating a fleet of 68 ships across five brands that serve millions of guests annually. Its portfolio includes Royal Caribbean International, Celebrity Cruises, and Silversea, as well as land-based experiences such as Perfect Day at CocoCay and the Royal Beach Club collection. The company also holds a 50% joint venture in TUI Cruises, which manages brands like Mein Schiff and Hapag-Lloyd Cruises.

With a reputation for innovation and guest-focused experiences, Royal Caribbean Group continues to expand its global footprint while maintaining its commitment to responsible and sustainable growth.


Apeejay Surrendra Park Hotels Reports Rs 13 Crore Net Profit in Q1 FY26

Apeejay Surrendra Park Hotels Reports Rs 13 Crore Net Profit in Q1 FY26

By Manu Vardhan Kannan

Published on August 18, 2025

Apeejay Surrendra Park Hotels Limited (ASPHL) announced its financial results for Q1 FY26, recording a net profit of Rs 13 crore. Revenue from operations stood at Rs 154 crore, a 14% increase year-on-year, while operating EBITDA grew 16% YoY to Rs 45 crore. The company maintained an industry-leading occupancy of 92%, reaffirming its leadership in the hospitality sector.

ASPHL’s growth is fueled by expansion into Tier 2 and Tier 3 markets. The company recently signed an MoU to acquire and manage four leisure properties in Goa, Manali, Shimla, and Dharamshala, adding 138 rooms under its brand. These steps align with ASPHL’s strategy to broaden its presence in high-potential tourism destinations and double its key count to 5,750 over the next five years.

Flurys, ASPHL’s iconic bakery and confectionery brand, now operates 102 outlets nationwide, reflecting the company’s focus on expanding its market presence while integrating modern amenities with rich cultural heritage.

Commenting on the performance, Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels, said,

"We have delivered an extraordinary and best-ever Q1, setting a strong momentum for the year ahead. With topline growth of 14% and EBITDA growth of 16%, we recorded India’s highest occupancy of 92% and maintained leadership in RevPAR in the upper-upscale segment. ARR improved by 13% and RevPAR increased by 12%. With nearly 600 new rooms added, including a 41% rise in our asset-light model, and nationwide Flurys rollout, we are poised to scale faster, enhance margins, and deliver exceptional shareholder value."

ASPHL’s strong performance in Q1 FY26 underscores its strategic focus on market expansion, operational excellence, and premium guest experiences.


Marriott Announces Dividend and Expands Share Buyback Plan

Marriott Announces Dividend and Expands Share Buyback Plan

By Manu Vardhan Kannan

Published on August 10, 2025

Marriott International, Inc. has declared a quarterly cash dividend of 67 cents per share on its common stock, reaffirming its commitment to delivering shareholder value. The dividend will be paid on September 30, 2025, to shareholders who are on record as of August 21, 2025.

Alongside the dividend announcement, the hospitality giant also revealed an expansion of its share repurchase program. The board of directors has authorized the repurchase of an additional 25 million shares of its Class A common stock. This comes in addition to the approximately 7.4 million shares that were still available under previous authorizations as of July 30, 2025.

Marriott has already bought back 6.4 million shares this year, amounting to $1.7 billion. These moves reflect the company’s continued confidence in its financial stability and long-term performance, aiming to strengthen shareholder value through strategic capital allocation.

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