Sterling Holiday Resorts (India) Limited

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Sterling Holiday Resorts Limited (known as Sterling) 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 29 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 is affiliated with Resorts Condominium International (RCI). It is also accredited by AIRDA (All India Resorts Development Association).

Video Sterling Holiday Resorts (India) Limited

History

Sterling 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 29 resorts in 26 destination and 2000+ rooms.

Sterling Holiday Resorts unveils new brand identity to align with new brand strategy on 6th December 2017.

Maps Sterling Holiday Resorts (India) Limited

Resorts

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

Resorts

1. Sterling Agra
2. Sterling Anaikatti
3. Sterling Corbett
4. Sterling Darjeeling
5. Sterling Daman
6. Sterling Dharamshala
7. Sterling Dindi
8. Sterling Gangtok
9. Sterling Goa Bardez
10. Sterling Goa Varca
11. Sterling Kanha
12. Sterling Karwar
13. Sterling Kodai Lake
14. Sterling Kodai Valley
15. Sterling Kufri
16. Sterling Lonavala
17. Sterling Manali
18. Sterling Munnar
19. Sterling Mussoorie
20. Sterling Nainital
21. Sterling Ooty Elk Hill
22. Sterling Ooty Fern Hill
23. Sterling Puri
24. Sterling Sariska
25. Sterling Shridi
26. Sterling Thekkady
27. Sterling Wayanad
28. Sterling Yelagiri
29. Sterling Yercaud

Thomas Cook also planning to expand resort on urgent basis to become number one holidays company in terms of holidays service provider. Luxe Asia from Sri lanka and Nature trail in Maharastra and very keen to expanding business in India and Overseas.

Apart of these, Sterling have collaboration With RCI(Resort Condominium International). RCI is able to provide facilities in more than 100 countries across world including India. Sterling membership is very beneficial for holidays lovers. It will help you to save your time and money.

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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 4th 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 26th October, Sterling Holidays Forays Into Adventure Tourism, Acquires Nature Trails - an adventure holiday company.
• 2016 - Launched Sterling Agra, Sterling Kufri, Sterling Anaikatti
• 2017 - Launched Sterling Goa Varca, Sterling Kanha, Sterling Wayanad
• 2017 - On 6th December, Sterling Holiday Resorts unveils new brand identity to align with new brand strategy

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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.

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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
• "Thomas Cook owned Sterling Holidays undergoes brand revamp to woo young travellers". Live Mint. 8 December 2017. 
• "How Sterling's Ramesh Ramanathan turned the brand around - and plans to do it again". Economic Times. 8 December 2017. 
• "Sterling Holiday Resorts unveils new brand identity to align with new brand strategy". Travel Biz Monitor. 6 December 2017. 

Source of the article : Wikipedia