Sinclairs Hotels Limited
|Traded as||BSE: 523023|
|Key people||Dr. Niren Suchanti (Chairman), Navin Suchanti (CEO and Managing Director)|
|Revenue||Rs 220 million (as on 2012)|
History and Growth
The company was founded in 1971 as a private limited company by a local entrepreneur from Kolkata. The first hotel was set up in Siliguri in the year 1976. The next hotel was started in Darjeeling in 1981. The company made a public issue in the year 1986 and its shares were listed in Bombay Stock Exchange and Calcutta Stock Exchange. In 1990, Dr Niren Suchanti and Navin Suchanti acquired majority control of the company. Presently Dr Niren Suchanti is the Chairman and Navin Suchanti is the CEO and Managing Director of the company.
Thereafter, the company acquired a hotel in Port Blair in 1991 and another one in Ooty in 1995. In 1999, it commissioned a resort property Sinclairs Retreat Dooars in Chalsa in the Dooars region of West Bengal, India.
In December 2007, three established private equity firms Xander Advisors of USA, Morgan Creek of USA and Meridia Capital of Spain invested around Rs 490 million in the company's equity to fuel its growth plans.
In 2011, it acquired a majority stake in Savannah Hotels Pvt Ltd, which owns a 104 room upscale business hotel in Whitefield Bengaluru. In 2013, the company divested its investment in Savannah Hotels.
The company is constructing two more properties - a 46 room resort in Kalimpong, a quaint little hill town in West Bengal and a club cum hotel in Burdwan, one of the richest districts in West Bengal. It is also building a 112 room business hotel in Rajarhat, the upcoming IT hub in Kolkata.
Sinclairs Hotels Ltd. operates all the five properties owned by the company.
Sinclairs is presently implementing three greenfield projects at Kalimpong, Burdwan and Kolkata. The resort hotel at Kalimpong and the tourist resort with banqueting and club facilities at Burdwan are in an advanced stage of construction. On implementation of these projects, Sinclairs total room inventory will be around 600.
- "Interview of Navin Suchanti, CEO and Managing Director, Sinclairs Hotels Ltd.". indiainfoline.com. 2012-06-11.
- "Sinclairs acquires majority stake in Savannah Hotels". The Hindu. 2011-02-11.
- "Sinclairs Hotels lines up new projects in West Bengal". The Economic Times. 2011-02-28.