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By Nishang Narayan
Published on August 8, 2024
Speciality Restaurants Limited, renowned for its fine dining chains including Mainland China, Asia Kitchen by Mainland China, Oh! Calcutta, and more, has announced robust financial results for the quarter ended June 30, 2024.
On a consolidated basis, the company achieved a Total Income of ₹111.52 crores, EBITDA of ₹24.35 crores, and PAT of ₹7.64 crores for Q1FY25. Notably, the Total Comprehensive Income for the quarter stood at ₹7.66 crores.
In standalone results, Speciality Restaurants reported a Total Income of ₹105.52 crores for Q1FY25, reflecting a 7.47% increase from ₹98.19 crores in Q1FY24. The EBITDA grew by 13.34% to ₹23.28 crores, up from ₹20.54 crores, while PAT rose to ₹7.15 crores from ₹6.29 crores. The Total Comprehensive Income also saw a rise to ₹7.16 crores from ₹6.21 crores.
Commenting on the company's performance, Mr. Anjanmoy Chatterjee, Chairman & Managing Director of Speciality Restaurants Limited, stated, “We continue to focus on our Oriental Brands and are excited about the recent openings of Asia Kitchen by Mainland China at Phoenix Mall of Millennium and Amanora Mall in Pune. Additionally, the renovated Haka restaurant at City Centre Kolkata has also reopened. We expect these new and renovated outlets to break even early and significantly enhance our profits.”
Chatterjee further noted the company’s ongoing efforts to control costs amid inflation, contributing to improved gross margins. The company plans to open 3-4 new restaurants in the coming quarters, further strengthening its market presence.
About Speciality Restaurants:
With over 30 years in the industry, Speciality Restaurants operates a diverse range of restaurants and confectionaries across India, UAE, Oman, and the UK. Its flagship brand, Mainland China, is known for authentic Chinese cuisine, while Asia Kitchen by Mainland China offers a pan-Asian dining experience. Other core brands include Oh! Calcutta, Sigree-Global Grill, and Sweet Bengal. As of June 30, 2024, the company operates 70 restaurants, 42 confectionary stores, and 13 cloud kitchens in India, alongside international outlets in UAE, Oman, and London.
Cautionary Statement:
This press release contains forward-looking statements reflecting the company’s strategies, objectives, and plans based on current assumptions. While the company believes these assumptions to be reasonable, actual outcomes may differ and cannot be guaranteed.
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By Manu Vardhan Kannan
Published on August 29, 2026
Sterling Holiday Resorts has expanded its presence in Uttarakhand with the launch of Sterling Lake View Sattal, adding another destination to its growing Kumaon circuit. The new 24-room resort brings Sterling's portfolio to 12 resorts in Uttarakhand and 80 resorts across India. Located close to Sattal Lake, the property is set within the quieter lake-and-forest landscape of Kumaon.
Sattal is known for its cluster of seven freshwater lakes, surrounded by forested hills and rich biodiversity. The destination is also popular for its birdlife and offers a slower and more peaceful travel experience compared with some of the region's better-known hill destinations.
Designed around its surroundings, Sterling Lake View Sattal features lake-facing rooms and an intimate setting suited to families, couples and nature enthusiasts. Guests can explore the area through birdwatching, forest walks and other outdoor experiences connected to the landscape.
The resort's location also makes it a convenient base for exploring Bhimtal, Nainital, Kainchi Dham and Naukuchiatal, allowing travellers to discover several parts of the Kumaon region from one stay.
The Sattal launch reflects Sterling's Destination Architect philosophy, which focuses on understanding what makes each destination special and developing experiences around it, rather than simply adding individual properties.
Speaking on the launch, Vikram Lalvani, Managing Director & CEO, Sterling Holiday Resorts, said:
"We increasingly look at expansion through the lens of a Destination Architect. The question is not simply where we can add another hotel, but what is distinctive about a destination, what experiences can be built around it, and how it connects with the larger journeys of our guests.
Sattal is a good example. Its seven lakes, forests and rich biodiversity give it an identity quite different from the more established hill destinations of Kumaon. Sterling Lake View Sattal allows us to bring that character alive through nature, birding and slower travel, while connecting it naturally with Bhimtal, Nainital, Kainchi Dham and the wider Kumaon region.
A resort gives us presence in a destination; a connected circuit gives us relevance across a region. Our ambition is to keep connecting established destinations with emerging micro-markets and give travellers more compelling ways to discover India."
Sterling's network in Uttarakhand already covers destinations linked to mountains, forests, wildlife, rivers, wellness, pilgrimage, adventure and lakes. With Sattal, the company adds another lake-and-forest destination to this network.
The wider Kumaon circuit brings together the hill appeal of Nainital, the lakes of Bhimtal, Sattal and Naukuchiatal, the spiritual importance of Kainchi Dham and the surrounding forests and mountain landscapes.
Sterling's approach at the property is centred on making the destination itself an important part of the guest experience. Its lakes, forests, birdlife, local culture and slower pace form the backdrop for the stay.
Guests can take part in nature-led experiences around the resort, while Sattal Bistro, the in-house restaurant, adds to the experience with Sterling's signature warmth and hospitality.
Commenting on the association, Abhijit Agrawal, Partner, Arthouse Hotels LLP, said:
"Sattal has retained a sense of tranquillity that is increasingly rare in the more established hill destinations, and that is precisely what we wanted this resort to preserve. Our association with Sterling brings together the property's unique lake-side setting with the reach and operating expertise of an established hospitality brand. We believe this partnership will help introduce more travellers to Sattal while building the resort as a distinctive nature-led stay in the Kumaon region."
The launch of Sterling Lake View Sattal marks another step in the company's expansion strategy, moving from individual properties towards a network of connected destinations that can offer travellers more ways to explore a region.
Published on August 28, 2026
LaRiSa Hotels & Resorts has announced the launch of 8fold by LaRiSa, Amritsar Heritage Walk, marking the 8fold brand’s first hotel in Punjab. The new property brings the brand’s approach of mindful and uncomplicated hospitality to one of Amritsar’s most well-known heritage areas.
The hotel is located within Amritsar’s Heritage Walk precinct, placing guests along the same lanes that generations of pilgrims have travelled while visiting the Golden Temple. The property is also within walking distance of the Golden Temple, Jallianwala Bagh, the market lanes and the Partition Museum.
8fold by LaRiSa, Shimla has been welcoming travellers in North India for nine years. With its Amritsar opening, the brand now welcomes guests visiting Punjab and adds another destination to its growing presence.
Designed for families and groups travelling together, the hotel offers room categories suited to different travel needs. Its in-house restaurant takes inspiration from Amritsar’s food culture, with kulcha at the centre of a menu built around the city’s local flavours.
The idea behind the property is simple, to give travellers a comfortable place to return to after exploring the city on foot and a convenient base to begin again the next morning.
“Amritsar has always meant something to travellers, long before hotels even came into the picture; people have been walking these same lanes to the Golden Temple for generations. With 8fold, we wanted a stay that respects that rhythm rather than getting in its way: somewhere simple to return to at the end of the day”, Priya Thakur, Founder & Director, LaRiSa Hotels and Resorts
8fold Locations:
Shimla: 8fold by LaRiSa, Shimla
Jibhi: 8fold by LaRiSa, Jibhi
Bhimtal: 8fold-Pinecrest by LaRiSa, Bhimtal
Goa: 8fold by LaRiSa, Siolim
Uttar Pradesh: 8fold by LaRiSa, Basti
With the launch of 8fold by LaRiSa, Amritsar Heritage Walk, LaRiSa continues to expand its presence across North India while keeping its focus on simple, comfortable and location-led stays.
Published on August 27, 2026
Cygnett Hotels & Resorts is expanding its presence in Odisha with the signing of Cozzet VICASA Gopalpur, a 50-room brownfield hotel located around 800 metres from Gopalpur Sea Beach. The property is scheduled to open in March 2027, with several rooms offering sea views.
The signing supports Cygnett’s plans to grow through brownfield conversions and asset-light management opportunities across Tier II, Tier III and emerging micro-markets. The move comes as domestic travel continues to grow and more travellers look for professionally managed accommodation beyond major cities.
According to HVS ANAROCK's India Hospitality Industry Overview 2025, Tier III and IV markets accounted for 44% of hotel keys signed and 55% of properties signed during 2025, highlighting the growing role of emerging destinations in India’s hospitality sector.
Located along Odisha’s southern coastline, Gopalpur is developing as a coastal leisure destination, combining beach tourism and weekend travel with access to the region’s natural and cultural attractions. The upcoming hotel is expected to cater to leisure travellers, families, weekend guests, weddings and small corporate groups.
Commenting on the signing, Mr. Sarbendra Sarkar, Founder & Managing Director, Cygnett Hotels & Resorts, said, “India's hospitality growth is increasingly being driven by emerging cities, pilgrimage centres and leisure micro-markets. Gopalpur fits strongly into this strategy. Through brownfield conversions such as Cozzet Vicasa Gopalpur, we can bring quality existing assets into a professional brand, distribution and operating ecosystem while creating long-term value for hotel owners.”
Cozzet VICASA Gopalpur will feature 50 guest rooms, including sea-view rooms, along with approximately 2,500 sq. ft. of banquet and event space that can accommodate around 180–200 guests. The hotel will also feature a rooftop restaurant serving regional delicacies and global cuisine in a relaxed coastal setting, adding to its appeal for both leisure and social gatherings.
Positioned in the value-driven hospitality segment, Cozzet by Cygnett follows its “Smart, Safe & Sensible” hospitality philosophy. The brand focuses on clean and comfortable rooms, modern amenities and dependable service at an accessible price point.
With branded economy accommodation still having relatively low penetration across India, Cygnett sees considerable potential for organised hotel brands in emerging cities and destinations. Cozzet by Cygnett currently has a development pipeline of more than 600 keys, with hotels at different stages of development and pre-opening across destinations including Noida, Ayodhya, Amritsar, Jaipur and Arunachal Pradesh.
The Gopalpur signing further strengthens Cygnett’s plans to build a scalable network across regional business centres, pilgrimage destinations, coastal leisure markets and other emerging micro-markets where demand for quality branded accommodation continues to grow.
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