Sterling Holiday Resorts Limited
Sterling Holiday Resorts Limited is a pioneer in Vacation Ownership and a leading Leisure Hospitality company in India. Sterling was incorporated in 1986 with the vision of delivering Great Holiday experiences to Indian Families. To achieve this vision, the company pioneered Vacation Ownership in India and set about building a network of leisure resorts at some of the best holiday destinations in India. Currently, Sterling has an inventory of 1750 rooms spread across 29 resorts located in Agra, Anaikatti, Corbett, Daman, Darjeeling, Dharamshala, Dindi, Gangtok, Goa, Kanha, Karwar, Kodaikanal, Kufri, Lonavala, Manali, Munnar, Mussoorie, Nainital, Ooty, Puri, Sariska, Shirdi, Thekkady, Wayanad, Yelagiri and Yercaud. The company also has 26 additional sites where it plans to add new resorts in the coming years.
Recently, the board of Sterling Holiday Resorts Limited has approved the merger of Sterling Holiday Resorts Limited (Sterling) in a part equity, part merger deal with Thomas Cook (India) Limited. The transaction remains subject to customary closing conditions and regulatory approvals, as required. (TCIL) – India’s leading integrated travel and travel related financial services company. Thomas Cook (India) is a part of Fairfax Financial Holdings Limited, a $38 billion multinational giant, headquartered in Toronto, Canada. Fairfax’s portfolio of companies includes several well-known global companies in the insurance, re-insurance and restaurant chains sectors. Some of the other brands which Fairfax has a significant stake in include Blackberry and Lombard.
In India, Fairfax has a majority holding in Thomas Cook (India) Limited, and holds a stake in ICICI Lombard and India Infoline. In 2013, Fairfax began expanding their portfolio in India through Thomas Cook, acquiring Ikya Human Capital Solutions. Sterling will be the second such investment under the Thomas Cook (India) group.