Sterling Holiday Resorts Limited


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).

Sterling Holidays
TypePublic
NSE: THOMASCOOK
BSE: 500413
IndustryLeisure Hospitality, Vacation Ownership
Founded1986
FounderR. Subramanian
Headquarters
Chennai, Tamil Nadu, India
Key people
Ramesh Ramanathan(Chairman and Managing Director)
ProductsLeisure Travel, Timeshare, Vacation Ownership, MICE, Corporate Travel, Adventure Holidays
ParentSterling Holiday Resorts Limited
Websitewww.sterlingholidays.com

Thomas Cook India Limited (TCIL) traded on stock exchange as NSE: THOMASCOOK; BSE: 500413. Sterling currently has 32 resorts 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 is affiliated with Resorts Condominium International (RCI) which has 4600 affiliated resorts worldwide and 110 resorts in India. It is also accredited by AIRDA (All India Resorts Development Association).[2]

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.[3]

The company today has 35 resorts in 29 destination and plan to add 17 more resorts.[4]

Resorts

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

Sterling Resort Logo of bloggers meet in Puri resort
Sterling Resort Puri interiors

Resorts [5]
  1. Sterling Agra
  2. Sterling Anaikatti
  3. Sterling Corbett
  4. Sterling Darjeeling
  5. Sterling Dharamshala
  6. Sterling Gangtok
  7. Sterling Gangtok - Orange Village
  8. Sterling Goa Bardez
  9. Sterling Goa Varca
  10. Sterling Guruvayur
  11. Sterling Atharva - Jaipur
  12. Sterling Kanha
  13. Sterling Karwar
  14. Sterling Kodai - Lake
  15. Sterling Kodai - Valley
  16. Sterling Kufri
  17. Sterling Lonavala
  18. Sterling Manali
  19. Sterling Mount Abu
  20. Sterling Munnar
  21. Sterling Mussoorie
  22. Sterling Nainital
  23. Sterling Ooty - Elk Hill
  24. Sterling Ooty - Fern Hill
  25. Sterling Puri
  26. Sterling Rajakkad
  27. Sterling Sariska
  28. Sterling Shridi
  29. De Laila HouseBoats Srinagar
  30. Sterling Thekkady
  31. Sterling Wayanad
  32. Sterling Yelagiri
  33. Sterling Yercaud
  34. Sterling Rishikesh
  35. Sterling Palavelli

Timeline[6]
  • 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.
  • 2016 - Launched Sterling Agra, Sterling Kufri, Sterling Anaikatti
  • 2017 - Launched Sterling Goa Varca, Sterling Kanha, Sterling Wayanad
  • 2018 - Launched Sterling Atharva - Jaipur, Sterling Mount Abu
  • 2019 - Launched Sterling Guruvayur, Sterling Rajakkad

About investors

In 2009, Bay Capital (formerly Indus Hospitality Fund) invested in Sterling Holiday Resorts,[7] 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.[8]

On 7 February 2014, Thomas Cook India Ltd. (TCIL) & Sterling Holiday Resorts Limited announced a merger between the companies.[9]

References
  1. "Sterling Holiday Resorts Inks Pact to Acquire Nature Trails". NDTV Profit. 26 October 2015.
  2. http://www.airda.org/
  3. http://www.afaqs.com/news/story.html?sid=29516_Sterling+Holidays+revamps+brand+identity+and+logo
  4. Rout, Hemant Kumar (9 May 2018). "Sterling's theme-based holiday resorts offer unexpected surprises to visitors". The New Indian Express. Retrieved 17 September 2018.
  5. https://www.sterlingholidays.com/resorts-hotels
  6. "Sterling Holiday Resorts (I) Ltd". The Times of India.
  7. "Bay Capital-backed Sterling Resorts raising Rupees 120Cr". Reuters. 21 July 2011.
  8. "Rakesh Jhunjhunwala and Radhakrishna Damani to buy 1 crore shares in Sterling Resorts". The Times of India. 20 July 2011.
  9. "Bombay HC approves Thomas Cook India-Sterling Holiday merger". Business Standard. 14 July 2015.
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