Sterling Holiday Resorts (India) Limited

Sterling Holidays

Type	Public
Traded as	NSE: THOMASCOOK BSE: 500413
Industry	Leisure Hospitality, Vacation Ownership
Founded	1986
Founder	R. Subramanian
Headquarters	Chennai, Tamil Nadu, India
Key people	Ramesh Ramanathan(Managing Director)
Products	Leisure Travel, Timeshare, Vacation Ownership, MICE, Corporate Travel, Adventure Holidays
Parent	Sterling Holiday Resorts Limited
Website	www.sterlingholidays.com

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).

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.^[1]

Sterling Holidays is affiliated with Resorts Condominium International (RCI). It is also accredited by AIRDA^[2] (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.^[3]

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 ^[4]

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 ^[5]

• 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,^[6] 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.^[7]

In February 7, 2014, Thomas Cook India Ltd. (TCIL) & Sterling Holiday Resorts Limited announced a merger between the companies.^[8]

References

• "Sterling Holidays revamps brand identity and logo > afaqs! news & features". Afaqs.com. 25 January 2011. 
• "Sterling Holiday Resorts (I)History | Sterling Holiday Resthan – MD, Sterling Holiday Resorts India Ltd.". YouTube. 21 July 2011. 
• "Rakesh Jhunjhunwala's 5 Reasons To Buy Sterling Holiday Resorts". 14 August 2011. Retrieved 25 November 2012. 
• 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. 
• "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