Sanofi acquires Blueprint Medicines in $9.1 Bn deal

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June 2, 2025

Sanofi acquires Blueprint Medicines in $9.1 Bn deal — Paul Hudson, CEO, Sanofi

French pharmaceutical giant Sanofi has announced plans to acquire U.S.-based Blueprint Medicines Corporation , a biopharma firm focused on treating systemic mastocytosis—a rare immune-related disease. According to a joint statement released Monday, Sanofi will pay $129.00 per share in cash, valuing the deal at roughly $9.1 billion.

The acquisition “represents a strategic step forward in our rare and immunology portfolios. It enhances our pipeline and accelerates our transformation into the world’s leading immunology company,” said Sanofi CEO Paul Hudson.

The acquisition will strengthen Sanofi’s portfolio by adding Ayvakit/Ayvakyt (avapritinib), a rare disease treatment approved in both the U.S. and EU, along with a robust pipeline of early- and late-stage immunology candidates.

According to the companies, Blueprint’s strong relationships with allergists, dermatologists, and immunologists will further support Sanofi’s expanding presence in the immunology space. Ayvakit/Ayvakyt remains the only approved therapy for both advanced and indolent systemic mastocytosis—a rare immune disorder marked by abnormal mast cell buildup in the bone marrow, skin, gastrointestinal tract, and other organs.

The acquisition will also include elenestinib, a next-generation therapy for systemic mastocytosis, and BLU-808, an oral wild-type KIT inhibitor with strong potential to address a wide range of immunological diseases. In addition to the $129.00 per share cash payment at closing, Blueprint shareholders will receive a non-tradeable contingent value right (CVR), entitling them to two possible milestone payments of $2 and $4 per CVR, based on future development and regulatory progress for BLU-808.

With these CVR payments factored in, the total equity value of the transaction could reach approximately $9.5 billion on a fully diluted basis. Sanofi CEO Paul Hudson noted that the deal aligns with the company’s strategy of acquiring promising early-stage medicines and confirmed that Sanofi still maintains substantial capacity for future acquisitions.

Lemon Tree Hotels expands portfolio with two new properties

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May 31, 2025

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Lemon Tree Hotels expands portfolio with two new properties — Vilas Pawar, CEO - Managed & Franchise Business, Lemon Tree Hotels

Lemon Tree Hotels Limited has announced the signing of two new properties: Lemon Tree Premier, Somnath in Gujarat, and Keys Lite by Lemon Tree Hotels, Ambala in Haryana. Both hotels will be managed by Carnation Hotels Private Limited, a fully owned subsidiary of the Lemon Tree Group.

The upcoming Lemon Tree Premier in Somnath will feature 70 well-designed rooms and a variety of amenities, including a restaurant, banquet hall, meeting room, swimming pool, spa, and other public facilities. Ideally situated just 2 km from Somnath Railway Station and around 83 km from Diu Airport, the hotel will offer strong connectivity for both business and leisure guests.

Speaking on the occasion, Vilas Pawar, CEO of Managed & Franchise Business, Lemon Tree Hotels, commented, “We are excited to strengthen our footprint in Haryana and Gujarat, two of India’s most vibrant and strategically important markets. These new signings mark a significant step in our growth journey and will seamlessly complement our existing portfolio — which includes 12 operational hotels in Haryana and nine operational properties in Gujarat, along with 16 more in the pipeline across the state.”

The upcoming Keys Lite by Lemon Tree Hotels in Ambala will offer 44 rooms, as well as a restaurant, lounge, pool deck, banquet space, swimming pool, fitness center, and various food and beverage outlets. Additionally, the property is strategically located approximately 5 km from Ambala Railway Station and 48 km from Shaheed Bhagat Singh International Airport in Chandigarh.

These new signings reflect Lemon Tree Hotels’ ongoing strategy to strengthen its footprint in key Indian markets, enhancing its mid-scale and upscale segments while maintaining a strong focus on comfort, accessibility, and quality service.

Zara founder buys Barcelona office building for $283 Mn

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May 31, 2025

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Zara founder buys Barcelona office building for $283 Mn — Amancio Ortega, Founder, Zara

Zara founder Amancio Ortega has acquired an office building in Barcelona from Blackstone for €250 million ($283 million), according to two sources familiar with the deal.

Ortega’s investment firm, Pontegadea, purchased the 28,000-square-metre property on Avenida Diagonal, which is currently leased to Spanish publishing group Planeta, according to the sources.

Neither Blackstone nor Pontegadea has publicly commented on the transaction.

Pontegadea, which manages a real estate portfolio exceeding $20 billion, has made significant investments in premium office towers and luxury properties across Europe and North America.

Pontegadea has also diversified its investment portfolio by acquiring assets in the energy and logistics sectors.

Amancio Ortega holds a 59.29% controlling stake in Inditex, the parent company of Zara, through his investment arms Pontegadea Inversiones and Partler Participaciones.

Amancio Ortega’s latest acquisition in Barcelona underscores his continued strategy of investing in premium real estate through Pontegadea. With a growing and diversified global portfolio spanning office, luxury, energy, and logistics assets, Ortega reinforces his position not just as a fashion mogul through Inditex but also as a major global real estate and investment player.

Advani Hotels reports Q4 FY 2024-25 financial results

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May 31, 2025

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Advani Hotels reports Q4 FY 2024-25 financial results — Sunder G Advani, Chairman and Managing Director, Advani Hotels

Advani Hotels & Resorts (India) Limited has reported its highest-ever revenue for both the fourth quarter and the full financial year ended March 31, 2025. The company achieved a total income of ₹3,457 lakh in Q4 FY25 and ₹11,121 lakh for the full year, marking record-breaking performance in its operational history.

Additionally, the company declared a second interim dividend of 45% on its enhanced paid-up capital, following the 1:1 bonus issue in FY24. This takes the total dividend for FY25 to 95%, amounting to ₹1,756 lakh—the highest annual dividend payout ever recorded by the company.

Commenting on the performance, Sunder G. Advani, Chairman and Managing Director, said, “We are excited to report record revenue for both Q4 and FY25. Our company has also achieved the highest return on equity, based on profit before tax, among all listed hospitality companies in India. These results reflect our continued focus on driving total revenue per occupied room and consistently delivering value to our shareholders.”

In Q4 FY25, Advani Hotels & Resorts reported a profit after tax of ₹1,147 lakh, up from ₹1,059 lakh in Q4 FY24. EBITDA for the quarter reached ₹1,617 lakh, with a margin of 46.8%. For the full financial year, profit after tax rose to ₹2,644 lakh (up from ₹2,496 lakh), while EBITDA grew to ₹3,842 lakh, reflecting an improved margin of 34.5% versus last year’s 34.0%.

Although average occupancy slightly dipped to 82.0% from 83.9%, the rise in total revenue per occupied room (TRevPOR) helped drive income growth. TRevPOR climbed to ₹19,724, compared to ₹18,798 in the previous fiscal year.

The company also highlighted its debt-free status and strong liquidity reserves of ₹5,066 lakh, including fixed deposits, as of March 31, 2025. Cash flow from operations before tax stood at ₹3,016 lakh, while return on equity before tax was 43% and return on assets reached 25.5%—both ranking among the highest in the hospitality sector. Additionally, Advani Hotels reported a healthy negative cash conversion cycle of -4.3 days.

With the latest interim dividend of 45% (₹0.90 per share) and an earlier 50% interim payout, the total dividend for FY25 stands at ₹1,756 lakh. This represents 66% of the company’s annual net profit, positioning it among the industry leaders in dividend payout ratios and showcasing its strong commitment to shareholder value.

Thomas Cook and Muthoot Forex collaborate to boost payment services reach

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May 31, 2025

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Thomas Cook and Muthoot Forex collaborate to boost payment services reach — Deepesh Varma, Executive Vice President, Foreign Exchange, Thomas Cook India

Travel company Thomas Cook on Friday announced a strategic alliance with Muthoot Forex, the foreign exchange arm of the Muthoot Group, aimed at extending the reach of its Borderless Travel Card and Study Buddy Card.

The company said in a press release that, as part of the partnership, Muthoot will offer these prepaid forex cards at over 7,000 of its branches, including 43 dedicated forex outlets across India’s metros, mini-metros, and tier II to tier IV cities.

“Our alliance with The Muthoot Group leverages our powerful synergies — combining our expertise in travel and foreign exchange with Muthoot’s extensive network across India’s tier I to IV source markets,” said Deepesh Varma, Executive Vice President, Foreign Exchange, Thomas Cook India. “Through this partnership, we aim to bring our Borderless Travel and Study Buddy cards closer to consumers across India’s metros and regional markets, making international travel and study abroad even more convenient and accessible.”

The partnership between Thomas Cook and Muthoot Forex significantly strengthens the distribution network for prepaid forex cards across India. By leveraging Muthoot’s vast branch presence, The travel company aims to make international travel and education-related payments more accessible and convenient for customers in both urban and emerging markets.

Anthropic hits $3 Bn annualized revenue amid surging AI demand

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May 31, 2025

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Artificial intelligence company Anthropic has reached approximately $3 billion in annualized revenue, according to two sources familiar with the figures—marking a strong early signal of business adoption of generative AI.

This revenue milestone, which estimates the company’s current monthly earnings projected over a year, represents a dramatic leap from $1 billion in December 2024. The figure rose to $2 billion by the end of March and hit $3 billion by the end of May, one source noted.

While OpenAI’s ChatGPT has seen widespread consumer interest, many enterprises remain in the experimental phase of AI implementation despite growing executive enthusiasm. Anthropic’s sharp revenue growth—driven largely by selling its AI models as services to other businesses—signals increasing commercial demand, one of the sources said.

A major contributor to this growth is code generation, a domain where Anthropic’s models are especially strong. The San Francisco-based startup, backed by Alphabet and Amazon, has gained recognition for its AI’s superior programming abilities. Tools in the codegen space have seen a surge in adoption recently, frequently powered by Anthropic’s technology.

Thanks to this rising demand, Anthropic is distinguishing itself from other SaaS providers. In fact, one venture capitalist noted that the company’s quarterly revenue growth makes it one of the fastest-growing SaaS companies they’ve ever seen.

“We’ve looked at the IPOs of over 200 public software companies, and this growth rate has never happened,” said Meritech General Partner Alex Clayton, who is not an Anthropic investor and has no inside knowledge of its sales.

He noted, however, that the comparison isn’t entirely apples-to-apples, as Anthropic also generates consumer revenue through subscriptions to its Claude chatbot. Still, the contrast is striking. Snowflake, a publicly traded SaaS company, needed six quarters to grow its annualized revenue from $1 billion to $2 billion, Clayton pointed out.

OpenAI, a key rival of Anthropic, is reportedly on track to generate over $12 billion in total revenue by the end of 2025, up from $3.7 billion in 2024, according to three people familiar with the matter. Unlike Anthropic’s reported annualized revenue, OpenAI’s figure represents total revenue for the calendar year.

The two AI powerhouses appear to be carving out distinct market positions. While both offer enterprise and consumer-facing AI products, OpenAI is increasingly seen as a consumer-centric company. A significant portion of its revenue comes from ChatGPT subscriptions, OpenAI CFO Sarah Friar said in an interview.

Though OpenAI hasn’t disclosed specific enterprise revenue, the company reported in May that ChatGPT Enterprise now has 3 million paid seats, up from 2 million in February. Notable customers include T-Mobile and Morgan Stanley.

In the consumer AI space, Anthropic’s Claude lags behind ChatGPT in popularity. According to analytics firm Similarweb, Claude’s web traffic in April represented just 2% of ChatGPT’s, signaling much lower user engagement.

Founded in 2021 by former OpenAI researchers with a different vision for AI development, the company recently closed a $3.5 billion funding round, bringing its valuation to $61.4 billion. By comparison, OpenAI is currently valued at around $300 billion.

The race between Anthropic and OpenAI highlights the rapidly evolving landscape of generative AI. While OpenAI dominates the consumer market with ChatGPT, Anthropic is emerging as a major force in enterprise adoption—bolstered by surging demand for its coding-focused models and a steep rise in annualized revenue. As both companies expand their offerings and valuations soar, the generative AI sector is proving to be one of the most competitive and high-growth areas in tech today.

India’s hospitality sector to attract $1 Bn in investments by 2028: Report

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May 30, 2025

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India’s hospitality sector to attract $1 Bn in investments by 2028: Report — Jaideep Dang, Managing Director, JLL Hotels and Hospitality Group, India

India’s hospitality sector demonstrated impressive growth between January to March 2025 and is projected to attract USD 1 billion in investments by 2028. This marks a significant increase compared to the USD 340 million in hotel transactions recorded last year, according to a report released on Friday.

The global commercial real estate and investment management firm JLL noted that Revenue Per Available Room (RevPAR) increased by 16.3 percent during the first quarter of this year compared to the same period in 2024.

The sector’s strong momentum continued into the previous quarter as well, with an 8 percent rise in RevPAR from October to December 2024 across India. Investor confidence remains robust, reflected in 79 new hotel signings totaling 9,478 keys during the January-March period, indicating ongoing growth in India’s hospitality market.

“India’s hospitality sector continues to demonstrate exceptional resilience and growth potential, with Q1 2025 showing remarkable RevPAR growth across major markets, particularly Bengaluru’s impressive 38.3 per cent increase. The robust pipeline of 79 new hotel signings representing 9,478 keys this quarter reflects strong investor confidence in India’s hospitality fundamentals,” JLL Managing Director, Hotels and Hospitality Group, India, Jaideep Dang said.

JLL projects that the hospitality industry will attract USD 1 billion in investments by 2028, highlighting a market transformation that balances short-term performance gains with strategic long-term positioning across various tiers and segments.

The report identified Bengaluru as the top performer, experiencing an impressive 38.3 percent year-on-year RevPAR growth, largely driven by the Aero India 2025 event, which boosted both occupancy rates and average daily rates. Delhi and Mumbai followed closely with strong RevPAR growth of 26.2 percent and 21.3 percent, respectively, supported by solid occupancy levels.

Chennai’s hospitality sector also delivered notable results, with an 18.7 percent increase in RevPAR, fueled by rising corporate travel and key events such as the Annual Leather Fair and USICON at the Chennai Trade Centre.

Hyderabad posted a robust 15.1 percent RevPAR growth despite a slight dip in occupancy, reflecting strength in rate increases. The development pipeline remains active, with 31 new branded hotels totaling 3,253 keys opening between January and March 2025, the report added.

Strong performance metrics, key events, and expanding investor confidence are driving the Indian hospitality sector’s robust growth trajectory. Continued development and strategic positioning will likely reinforce India’s standing as a dynamic and attractive destination for hospitality investments in the coming years.

Raffles expands with launch of Raffles Lakeshore Udaipur

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May 30, 2025

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Raffles expands with launch of Raffles Lakeshore Udaipur — Richard Schestak, Vice President Operations Asia Pacific, Raffles & Fairmont

Raffles expands in Rajasthan with Raffles Lakeshore Udaipur, a serene retreat nestled along the tranquil banks of Udai Sagar Lake. This new addition complements the iconic Raffles Udaipur by offering a refined lakeside experience that fuses colonial elegance with modern sophistication.

The property features 36 thoughtfully designed accommodations, including 28 rooms and 8 suites. Each space draws from colonial-era influences and showcases the intricate craftsmanship of Rajasthan. Expansive windows offer sweeping views of the lake, while custom furnishings and natural textures evoke a sense of calm luxury. The suites, enhanced with freestanding bathtubs and soothing tones, provide a perfect setting for moments of quiet relaxation.

“Raffles Lakeshore Udaipur represents a significant milestone in our commitment to redefining luxury hospitality in Udaipur. With this expansion, we continue to set new benchmarks by offering an unparalleled blend of heritage, elegance, and world-class service. Seamlessly integrating Raffles’ legendary hospitality with the rich cultural tapestry of Udaipur, we have created an extraordinary retreat for discerning travelers,” shared Ratan Kant Sharma, Owner, Vardha Enterprises Pvt Ltd.

Upon arrival at Raffles Lakeshore Udaipur, guests step into The Great Hall—a grand space defined by soaring ceilings, hand-painted frescoes, and shimmering chandeliers that exude timeless elegance. Here, the renowned Raffles Afternoon Tea is given a unique twist, blending classic rituals with local flavors and ingredients to create a sensory experience that is both nostalgic and refreshingly new.

The resort offers a range of carefully curated dining experiences designed to satisfy the most refined tastes. The Trellis Room pays tribute to Indian regional cuisine, reinterpreting beloved dishes with a modern touch, served in a sophisticated indoor setting or beneath the open sky. The Tea Room caters to tea enthusiasts, offering a curated selection of fine teas and pastries in a cozy, indulgent atmosphere.

For those seeking European elegance, The Marble Hall presents expertly crafted cocktails in a refined and polished ambiance. Atop the property, The Belvedere rooftop venue warmly invites guests to enjoy shared plates and intimate conversations. Moreover, it offers a stunning vantage point to take in the breathtaking sunsets over Udaipur, creating the perfect setting for memorable evenings.

“Lakeshore is a proud continuation of the Raffles legacy—an invitation to our guests to enjoy world-class hospitality while remaining deeply connected to the cultural fabric of the destination. This expansion is a tribute to our unwavering commitment to excellence and our promise to continue creating new and unique offerings for our guests,” shared Richard Schestak, Vice President Operations Asia Pacific, Raffles & Fairmont.

With its rich heritage and renowned service, Raffles Udaipur continues to set new standards in timeless hospitality. “Raffles Lakeshore Udaipur” offers more than just a getaway—it represents a transformation, inviting guests into a realm where history echoes through every intricate detail, and each experience is crafted to be truly memorable. “Raffles Lakeshore Udaipur marks a milestone in our journey to elevate luxury hospitality in Udaipur. It embodies our devotion to crafting extraordinary experiences while embracing the cultural soul of this enchanting city,” said Rajesh Namby, General Manager, Raffles Udaipur.

In addition to its diverse culinary experiences, the property also boasts an infinity pool overlooking the lake, beautifully landscaped gardens featuring native plant life, and winding pathways that encourage guests to immerse themselves in the serene natural surroundings.

As a result, Raffles Lakeshore Udaipur exemplifies enduring sophistication, offering a hospitality where every element is intentionally curated and every moment, in turn, transforms into a lasting memory.

Fine Acers launches The Ame in Sakleshpur, Karnataka

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May 30, 2025

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Fine Acers launches The Ame in Sakleshpur, Karnataka — Dinesh Yadav, Founder and Managing Director of Fine Acers

Fine Acers has unveiled its latest offering in the ultra-premium luxury segment, The Ame, a luxurious five-star plus flagship resort located amid the misty hills and fragrant coffee plantations of Sakleshpur, Karnataka.

The Ame, situated in the heart of the Western Ghats, carefully combines timeless sophistication with the untouched tranquility of nature. Spanning eight acres, the property will feature 100 keys, including studio units and duplex villas. The resort promises a comprehensive lifestyle experience with top-tier amenities such as wellness and spa centers, fine dining options, yoga areas, trekking trails, and meditation zones.

The Ame also offers a unique opportunity for discerning investors, featuring larger-sized units. The minimum investment for a studio unit is INR 85 lakhs. Additionally, the resort provides attractive benefits for investors, including minimum assured cashback returns and potential for capital appreciation.

“At The Ame, we are constructing a resort that brings together refined living and sustainable investment offering ultra-premium 5-star plus experience with Michelin star chefs, airport transfers by luxury vehicles and invitation only events. The natural beauty of Sakleshpur, the mild temperature, and the increasing popularity amongst travellers make it a perfect backdrop for a project that honors luxury and legacy,” said Dinesh Yadav, Founder and Managing Director of Fine Acers.

Frequently called the “Switzerland of Karnataka,” Sakleshpur is renowned for its breathtaking landscapes, historic forts, waterfalls, and extensive coffee plantations. Its convenient location near key cities such as Bangalore (220 km), Coorg (50 km), and Mangalore (140 km) adds to its appeal as both a weekend getaway and a prime investment destination. Offering everything from curated experiences and private events to peaceful wellness retreats, The Ame guarantees a unique hospitality experience—supported by Fine Acers’ expertise in the high-return, sales leaseback model for Branded Resorts.

Prestige Estates and Valor Group to develop ₹4,500-Cr office complex in Mumbai

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May 30, 2025

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Prestige Estates Projects Ltd has teamed up with Valor Group to jointly develop a ₹4,500 crore office complex in Mumbai.

According to a regulatory filing made on Thursday, Prestige Estates announced that it has signed a framework agreement with Valor Estate Ltd and its wholly owned subsidiaries to co-develop a project on land measuring a total of 21,978.22 square metres in Andheri West, Mumbai.

The upcoming development will offer a total leasable area of 1.5 million square feet and will have a Gross Development Value (GDV) of approximately ₹4,500 crore.

Under the terms of the agreement, Prestige Estates and Valor Group will each hold a 50% economic stake in the project.

“The company and Valor Group shall jointly develop an approximately 1.50 million sq. ft. leasable area commercial office complex on a 50:50 joint venture basis,” Prestige Estates said.

Prestige Estates will inject ₹504 crore into the special purpose vehicle (SPV) that will execute the project’s development.

The strategic partnership between Prestige Estates and Valor Group marks a significant move in Mumbai’s commercial real estate market. Furthermore, the developers are investing ₹4,500 crore and sharing equal ownership to transform the upcoming office complex in Andheri West into a landmark development.

Moreover, Prestige Estates’ infusion of ₹504 crore into the SPV underscores its strong commitment to the project, which is expected to deliver 1.5 million sq ft of premium leasable space. This collaboration not only strengthens both companies’ presence in the city but also reflects growing investor confidence in high-value commercial infrastructure.

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