Sterling Holiday Resorts Limited

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Sterling Holidays
Company typePublic
BSE: 523363
IndustryLeisure Hospitality, Vacation Ownership, Timeshare, MICE, Corporate Travel and Adventure Holidays
Founded1986
FounderElias Alencheril
Headquarters
Chennai, Tamil Nadu, India
Key people
Vikram Lalvani (Managing Director and CEO) starting April 2022
ProductsLeisure Travel, Timeshare, Vacation Ownership, MICE, Corporate Travel, Adventure Holidays
ParentSterling Holiday Resorts Limited
SubsidiariesNature Trails Resorts Private Limited
Websitewww.sterlingholidays.com

Sterling Holiday Resorts Limited (known as Sterling), a leading leisure holiday lifestyle company, 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 37 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[edit]

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 holiday company currently operates 37 resorts in 30 scenic destinations across the country (as of March 2023) and counting.[4]

Resorts[edit]

The resorts in the Sterling destination network are spread across India. Sterling Mantra Haridwar and Sterling Shivalik Chail are their latest addition to Sterling Holidays. Sterling has been delivering great holiday experiences for more than three decades now. Their resort destination network has something to suit every holiday appetite, from majestic hillsides to beachside nirvana to jungle retreats to riverside resorts to spiritual sojourns.

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

Notable Resorts [5][edit]

  1. Sterling Lake Palace - Alleppy
  2. Sterling House Boat - Alleppy
  3. Sterling Anaikatti
  4. Sterling Corbett
  5. Sterling Darjeeling
  6. Sterling Gangtok – Orange Village
  7. Sterling Rudra Gir
  8. Sterling Goa Varca
  9. Sterling Guruvayur
  10. Sterling Kalimpong
  11. Sterling Kanha
  12. Sterling Karwar
  13. Sterling Kodai – Lake
  14. Sterling Kodai – Valley
  15. Sterling Kufri
  16. Sterling Lonavala
  17. Sterling Madurai
  18. Sterling Manali
  19. Sterling Mantra Haridwar
  20. Sterling Mount Abu
  21. Sterling Munnar
  22. Sterling Mussoorie
  23. Sterling Nainital
  24. Sterling Ooty – Elk Hill
  25. Sterling Ooty – Fern Hill
  26. Sterling Padam Pench
  27. Sterling Palavelli Godavari
  28. Sterling Puri
  29. Sterling Rishikesh
  30. Sterling Sariska
  31. Sterling Shivalik Chail
  32. De Laila HouseBoats Srinagar
  33. Sterling Thekkady
  34. Sterling Arunai Anantha Tiruvannamalai
  35. Sterling Wayanad
  36. Sterling Yelagiri
  37. Sterling Yercaud

Timeline[6][edit]

  • 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
  • 2022 – Launched Sterling Pench
  • 2023 – Launched Sterling Mantra Haridwar
  • 2023 – Sterling was part of world's largest tourism trade fair - ITB Berlin 2023.
  • 2023 – Launched Sterling Shivalik Chail

About investors[edit]

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[edit]

  1. ^ "Sterling Holiday Resorts Inks Pact to Acquire Nature Trails". NDTV Profit. 26 October 2015.
  2. ^ "AIRDA: All India Resort Development Association". www.airda.org.
  3. ^ "Property in Haridwar". ethinfra.
  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. ^ "Best Luxury Resorts and Hotels _ Weekend Getaways in India - Sterling Holidays". www.sterlingholidays.com.
  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.

External links[edit]

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