Hyatt to Expand Brand Footprint with Acquisation of Two Roads Hospitality

Hyatt Hotels Corporation has announced an agreement to acquire Two Roads Hospitality, an international lifestyle hotel management company with a unique collection of distinctive brands, properties and a robust development pipeline around the globe.

Through the addition of Two Roads, its established lifestyle brands and the management agreements for the majority of its 85 properties in eight countries, Hyatt will expand its brand presence into 23 new markets while enhancing its offerings in lifestyle hotel experiences and wellbeing. With Two Roads and its distinctive collection of lifestyle hotels, resorts and vacation residences, Hyatt will offer an expanded and more powerful portfolio of brands with best-in-class offerings to deliver compelling experiences and benefits for guests and World of Hyatt members, expand its relationship with valued hotel owners, and drive growth for shareholders.

“Hyatt and Two Roads share a commitment to genuine care and delivering distinctive experiences to discerning travelers. We are pleased to be coming together, and are dedicated to learning from each other and taking the best of both organizations forward,” said Mark Hoplamazian, president and chief executive officer, Hyatt Hotels Corporation. “Two Roads’ passionate team members, strong brands, global footprint and robust development pipeline will expand our lifestyle offerings and grow Hyatt’s brand presence in more places where our guests and World of Hyatt members want to travel. Importantly, combining Two Roads’ meaningful brand presence and development plans in Asia with Hyatt’s already strong position in this region will allow us to accelerate expansion in this critically important and fast-growing part of the world.”

The acquisition consists of a base purchase price of $480 million, with the potential for Hyatt to invest up to an additional $120 million in the aggregate, contingent on the outcome of certain terms to be individually defined after closing. The base plus contingent total purchase price is expected to reflect an EBITDA multiple of approximately 12-13x stabilized 2021 earnings, which Hyatt considers the best indicator of valuation based on anticipated synergies and growth.

Consistent with Hyatt’s long-term growth strategy to drive shareholder value, this investment in a high-growth, capital-light platform accelerates Hyatt’s evolution to a more fee-driven enterprise, funded by proceeds from an asset disposition program in which real estate has been monetized at an average multiple of approximately 16.5x EBITDA to date. Notably, Hyatt is making this growth investment in a year in which it has committed to return approximately $800 million of shareholder capital through a combination of share repurchases and a cash dividend.

After the close of the transaction, which is expected later this year, Hyatt will create a dedicated lifestyle division as a catalyst to bring together the operations of Two Roads’ and Hyatt’s lifestyle brands. “Hyatt is an ideal home for us as we share many values and a deep commitment to thoughtful growth and creating compelling experiences for our guests,” said Jamie Sabatier, chief executive officer, Two Roads Hospitality. “Hyatt’s unique position in the marketplace brings with it the powerful benefit of global scale while maintaining meaningful personal relationships with team members, guests and owners.”

Hyatt will provide additional information related to the acquisition, including a preliminary estimate of 2019 earnings accretion, on its third quarter earnings call scheduled for October 31, 2018. Hyatt plans to integrate Two Roads brands into the World of Hyatt program in 2019, expanding opportunities for World of Hyatt members to earn and redeem points across more leisure-focused stay options and also driving hotel occupancy from a loyal group of travelers who spend more, stay more and book directly.

Goldman Sachs & Co. LLC served as exclusive financial advisor to Hyatt; Moelis & Company LLC served as exclusive financial advisor to Two Roads Hospitality; Latham & Watkins LLP served as legal counsel to Hyatt; Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to Two Roads Hospitality.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates. Hyatt plans to include Two Roads’ properties in its World of Hyatt loyalty program, but such properties are not currently participating.

Predator Orion Series Desktops to Feature New 9th Gen Intel Core Desktop Processors

Acer has announced refreshes of its Predator Orion 9000 and 5000 gaming desktops, all featuring new 9th Gen Intel Core desktop processors, giving gamers a leap in performance for smooth, seamless gameplay — even while streaming and recording.

“With the new 9th Gen Intel Core processors delivering up to 8 cores and 16 threads, the Predator Orion series desktops provides gamers with an arsenal of PCs that can withstand the most demanding gaming scenarios today,” said Jeff Lee, General Manager, Stationary Computing, IT Products Business, Acer Inc. “The refreshes are in line with Acer’s longstanding commitment to empower users with the latest technological breakthroughs, and provide them with best-in-class user experiences.”

“The new 9th Gen Intel Core desktop processors, featuring our flagship Intel Core i9-9900K, deliver the industry leading real-world performance that gamers demand,” said Anand Srivatsa, Vice President of the Client Computing Group, Intel. “The new Acer Predator Orion series desktops are incredible machines, and by harnessing the gaming performance delivered with the latest Intel Core processors, together we’re delivering premium gaming experiences.”

Powered by 9th Gen Intel Core desktop processors, the Predator Orion series gaming desktops are performance PCs designed for the serious to hardcore gamer. The Predator Orion 5000 is a gaming powerhouse for users who need an exceptional gaming rig, while the Predator Orion 9000 is a gamer’s dream machine aimed at the most demanding users, with top-of-the-line NVIDIA GeForce RTX 2080 Ti GPUs[i].

Predator Orion 9000 Series: The Ultimate Gaming Machine

With up to 9th Gen Intel Core i9-9900K processors and planned support for the new Intel Core X-series processors, the Predator Orion 9000 is the ultimate gaming PC. It features up to the latest NVIDIA GeForce RTX 2080 Ti GPUs, and supports over 8K UHD graphics. A black and silver chassis gives it a spacecraft-like casing that glows with customizable ARGB (Addressable RGB) lighting bars and RGB LED fans. The prominent side window showcases the impressive interior with a design that keeps electromagnetic interference (EMI) levels in check despite the size of the opening. Acer’s IceTunnel 2.0 expels heat through an advanced airflow management solution that separates the system into several thermal zones, each with an individual airflow tunnel.

Predator Orion 5000 Series: Serious Gaming Performance

The Predator Orion 5000 gaming desktop features up to 9th Gen Intel Core i9-9900K processors and up to the latest NVIDIA GeForce RTX 2080 GPUs. Just like the Predator Orion 9000, the Orion 5000’s chassis has the signature transparent side panel to show off its powerful internals and includes the IceTunnel 2.0 airflow management design to keep the system cool.

Dakota DC3 – VP905 - Parashurama - Star of Indian Air Force Day Celebration 2018

The Indian Air Force today celebrated its 86th anniversary. A scintillating air display by various aircraft was the hallmark of the Air Force Day Parade at the Air Force Station Hindan in Ghaziabad. However, the star of this year’s celebrations was the Dakota  DC3 aircraft that made it’s maiden appearance in the Fly Past.

The Indian military aircraft, which played a vital role in the 1947-48 India-Pakistan war and other wars, was restored to its original glory, made in flying condition by Rajeev Chandrasekhar and was inducted in to the Vintage Aircraft Flight of the Indian Air Force in May this year.

This aircraft was gifted to nation by Rajeev Chandrasekhar and was named Parashurama by him.

MP Rajeev Chandrasekhar is an aviation enthusiast and is the son of an Air Force Officer Air Commodore M.K.Chandrasekhar who served as Trainer of Fighter Aircraft who flew Dakota and was part of several sorties of Dakota as well.

Speaking on IAF Day 2018, Chandrasekhar said “I am delighted see the Dakota participating in it’s maiden fly past. The Dakota is an important part of Air Force’s history - and J&K history. If it was not for the Dakotas and the troops it airlifted in 1947 - Srinagar would not be with India today. The restoration took over 6 years and cost me a lot of money. But I was motivated mainly for my father and many others who served and the need to remind country of the bravery of IAF and Army in 1947 which kept young independent India together with J&K.

Journey of Dakota to India

On 13 February 2018, Rajya Sabha MP Rajeev Chandrasekhar gifted the Dakota bearing the Tail Number VP 905 and called “Parashurama” in a signing ceremony to The Indian Air Force to be added to its Vintage Fleet.

The Gift Deed was signed between Air Chief Marshal Birender Singh Dhanoa , PVSM, AVSM, YSM, VM, ADC , Chief of the Air Staff of the Indian Air Force and Air Commodore M K Chandrasekhar, VM, VSM (Retd)- Rajeev Chandrasekhar’s father who an Dakota Pilot himself.

The aircraft commenced its journey from the UK on April 17 to India with and flew a total of 9,750 km during its ferry en-route halts in France, Italy, Greece, Jordan, Bahrain and Oman and landed on Indian soil on 25 Apr 18.

Dakota DC3 VP 905 Parashurama was formally inducted into the IAF Vintage Flight on 4 May 2018 in a grand ceremony at Air Force Station Hindan where Air Cmde M K Chandrasekhar (Father of MP Rajeev Chandrasekhar), a veteran Dakota pilot himself, handed over a symbolic key to the Chief of Air Staff Air Marshal B S Dhanoa.

Legacy of Dakota D3

The Dakota D3 was at the forefront of operations from 1947 to 1971 and played an indispensable role in logistics and transportation during its flying years in the IAF.

The Dakota was deployed by to fight Pakistan army aided by an irregular militia consisting of tribesmen from the frontier invaded Kashmir in 1947.

The Dakota was put to good use during the Indo China war of 1962 and also during the India Pakistan war in 1971.

The crucial para-drop operations in Tangail, 60 miles from Dhaka, on 11 December 1971, four days ahead of Pakistan military’s historic surrender to the India-Bangladesh Joint Command on December 16 were done from a Dakota.

NetRack participated in BISCI-Bangalore; Showcased its revolutionary product: iRack

NetRack, a leading solution provider for data centers and end-to-end IT server racks, exhibited its significant product, iRack, with its self-cooled, self-powered features and self-contained design has gained maximum attention in BISCI gathering. iRack is equipped with air-seal kit, blanking panels, brush models and panels for efficient Airflow management. The features like precision cooling unit (3.5KW cooling capacity), with & without redundancy, intelligent PDU, UPS, environmental sensors   etc., has mesmerized the crowd.
  
Addressing the gathering, Ravi Raj, Brand Head, Director, Sales & Support at NetRack said, "BISCI has always been a remarkable event for us as well as other vendors assisting IT industry. It provides great platform to exhibit our products and acts as a medium to connect with industry leaders and IT professionals."

"We at NetRack are delighted to showcase iRack, a high quality and superior cooling rack cabinet for SME server Rooms and Hub Rooms application, Remote AV application, ware house / Industry application. This is an innovative product which requires less area and provides maximum server space for small setups. Considering the demand of intelligent infra capsules and utilizing advanced technology, we have manufactured iRack and meet the next level Application NetRack has iRack Blocks to ease the installation, Faster Deployment and increase cooling efficiency."

NetRack manufactures its racks under stringent ISO 9001 - 2008 Manufacturing & Quality standards to ensure highest quality product. iRack comes with rack load capacity of 1000kgs and carefully configured to prevent thermal short circuits. iRack series are highly efficient and eco-friendly in nature. Thus, ensures energy - saving, promoting overall reduction in energy costs.

Array AVX Network Functions Platforms Earn ICSA Labs Security Certification

Array Networks,Inc., the network functions platform company, today announced that its AVX Series Network Functions Platforms (AVX Series) family has earned ICSA Labs SSL-TLS VPN security certification, becoming one of only three solutions worldwide to hold the distinction. The AVX Series are hyperconverged platforms designed specifically to host networking and security workloads. The platforms deliver the performance of physical appliances coupled with the agility of virtual appliances while providing dedicated resources per instance.

ICSA Labs, an independent division of Verizon, develops and performs comprehensive, unbiased, third-party security certification testing. The ICSA Labs SSL-TLS VPN certification standard includes data confidentiality, authentication and integrity assurance for inter-network transactions. ICSA Labs certification helps enterprises, service providers and government agencies identify and evaluate security solutions with confidence. The AVX Series is an open platform that supports both Array and third-party virtual appliances; the testing was performed on AVX platforms running instances of Array's vxAG virtual SSL VPNs and MotionPro Layer 3 VPN client.

"ICSA Labs recognizes Array Networks' dedication to delivering high quality and secure platforms for networking and security applications," said Sebastien Mazas, Director of ICSA Labs. "Following testing, ICSA Labs found that the network functions platforms are thoughtfully designed and properly execute SSL and TLS, confirming that the AVX Series securely processes SSL-TLS encrypted traffic."

SSL-TLS has become the 'gold standard' for web sites as well as for transmission of corporate information via virtual private networks. Corresponding with the growth of public, private and hybrid clouds, nearly 80 percent of internet traffic is encrypted. The ability of networking and security solutions to efficiently and securely process SSL-encrypted traffic has become essential.

Array's Network Functions Platforms include high-performance SSL hardware to process SSL traffic with performance equal to that of dedicated, single-function appliances. The AVX Series features a security-hardened operating system that protects against a wide range of network attacks. Both the AVX Series and the vxAG virtual SSL VPN utilize Array's robust SSL stack, which is tuned for both security and performance, and has proved immune to attacks such as Heartbleed, GHOST, DROWN and others.

The combination of SSL hardware, security hardening and Array's proprietary SSL stack - and the ability to host multiple security functions and service-chain them within a single consolidated appliance - make the AVX Series particularly well suited for use in data centers.

"ICSA Labs is one of the most respected security technology testing organizations, and offers independent validation of SSL-TLS conformance and efficacy to help enterprises, service providers and others protect critical network traffic," said Milind Kulkarni, Senior Director of  Product Management for Array Networks. "Many CIOs, CISOs, IT managers and others are seeking the agility of virtualization with the performance of dedicated appliances, to consolidate data center networking and security, or to develop innovative solutions for security and networking. They can now rely upon this testing in evaluating their options."

Tata Motors Launches Hexa XM+, the Latest Variant of the Company’s Lifestyle SUV

Bringing in the festive season celebrations, Tata Motors today announced the launch of Hexa XM+, a new variant of its lifestyle SUV. Launched at a price of INR. 15.27 Lakhs, ex- showroom New Delhi, this additional trim will be offered with a host of luxurious features which will lure all car enthusiasts this festive season. With a mixture of plush features like the all- new Charcoal grey alloys among others, the Hexa XM+ will blend in with the needs of an active and dynamic urban lifestyle customer. 

According to S. N. Barman - Vice President, Sales, Marketing & Customer Support, Passenger Vehicles Business Unit, Tata Motors, “With Turnaround 2.0 in play, we have continued to deepen our focus towards catering to the evolving customer demands by introducing new products and variants at regular intervals. The Hexa has successfully established itself as a great lifestyle SUV and with the launch of the Hexa XM+, we are further strengthening this product range by offering more to our customers. We are confident that the XM+ will take brand Hexa a step ahead towards delighting our customers”.

The Hexa XM+ comes with 16 new exciting features. Few key features highlighted below:

1 Striking Exteriors

All new R16 Charcoal Grey Alloys

2 Luxurious Interiors

Soft-Touch Dashboard with Hexa Branding

3 Leather Wrapped Steering Wheel

4 Fully Automatic Temperature Control (FATC) with Dual AC

5 Superior Convenience and additional safety features

Front Fog Lamps

6 Reverse Parking Sensor with Camera

7 Cruise Control

8 Automatic Headlamps (Light sensing)

9 Rain Sensing Wipers

10 Electrically adjustable & foldable outside mirrors

The Hexa XM+ will retain Hexa’s premium all-black sporty interiors, sculpted indulgent seats as well as the 8-colour, ambient mood lighting. Tata Motors also offers customers the option to customize their Hexa with an electric sunroof to enhance the style quotient. The sunroof is available with a 2 years warranty through Tata Motors Genuine Accessories along wth a host of other interesting options to choose from. 

Flipkart Adds 30,000 Direct and an Estimated 500,000 Plus Indirect Jobs for the Big Billion Days

In preparation for the fifth edition of The Big Billion Days, Flipkart, India’s largest e-commerce marketplace, has added 30,000 direct jobs in its supply chain and logistics arm, and is expecting its seller partners to have added an estimated 5 lakh plus indirect jobs at their locations. The annual Big Billion Days event is scheduled from Oct 10th to Oct 14th this year.

The directly employed workforce is spread across the entire supply chain, from Flipkart Wishmasters to  personnel in warehouses, mother hubs, and delivery hubs. This is exclusive from the jobs generated by Flipkart’s vast network of sellers, which is estimated to be 500,000 plus, as they also prepare for the festive season demand. The additional indirect jobs created at the seller location are in packaging and warehouse management where Flipkart also partners these sellers for providing the right training to the hired talent.

The company will also leverage a network of flexible infrastructure built specifically to cater to, what is expected to be, record demand from customers. A total of 16 flex fulfillment centres and 15 mother hubs have been added to Flipkart’s supply chain infrastructure, and capacity at existing facilities has been expanded.

The hiring and upskilling of the newly-recruited staff is in line with the government’s National Skill Development Mission, and will provide a major boost to to the local employment and the economy. All hired personnel undergo training in supply chain process for their respective function, and are trained to handle Hand-Held Devices, PoS Machines, scanners, various mobile applications and ERPs. As a result, these employees become future ready to work in tech-driven supply chains, food-tech and other allied industries.

“The Big Billion Days is India’s own shopping festival and as a homegrown company, we want it to have a positive impact on the entire ecosystem. Along with ensuring that our customers have a seamless shopping experience, we want the economy too to benefit from the increased activity. By generating employment and enabling our sellers to scale their businesses during this time, we’re playing an important role in driving the industry and subsequently the economy,” said Kalyan Krishnamurthy, CEO at Flipkart.

Besides there are many of the indirect jobs created are at the third-party vendors, such as housekeeping, security, transport etc, as they scale their own operations to cater to Flipkart during this time.