Sterling Holiday Resorts Limited
Sterling Holiday Resorts Limited (known as Sterling), a holiday lifestyle company, was 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 32 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. 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). History. 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. The company today has 35 resorts in 29 destination and plan to add 17 more resorts. Resorts. The resorts in the Sterling destination network are spread across India. The resorts are as follows: About investors. In 2009, Bay Capital (formerly Indus Hospitality Fund) invested in Sterling Holiday Resorts, 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. On 7 February 2014, Thomas Cook India Ltd. (TCIL) & Sterling Holiday Resorts Limited announced a merger between the companies.