In line with its stated strategy of disposing of hotel projects to raise cash,
DLF, countrys largest property company, is close to selling off 50% of its soon-to-be-opened 120-room hotel at Saket, New Delhi, for around Rs 75 crore to a wealthy individual, who is not involved with any hotel chain, people familiar with the matter said. Less than a month ago, DLF sold another 60-room property, located adjacent to its mall at Saket, for around Rs 55 crore.
DLFs 120-room hotel has a management contract with international hotel chain Hilton and will sport Garden Inn brand name. The construction is almost complete and the hotel is due to open in the current quarter. People with knowledge of the proposed deal said an understanding has been reached, but a final agreement is yet to be signed with the buyer and no money has changed hands yet.
According to people familiar with the proposed deal, the hotel has been valued at Rs 150 crore, or Rs 1.25 crore a room. DLFs 60-room hotel property, that was recently sold, fetched around Rs 1 crore per room.
More : economictimes.indiatimes.com
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Finding a home away from home is difficult but with the hotel business foraying into innovative territories to keep afloat, the Indian capital has just got its first all-suite hotel.
Svelte-Saket is for long-haul travellers who look for temporary homes with the advantage of professional hospitality.
Delhi-based Tristar Hotels Pvt Limited formally threw open the doors of the high-end 83-key all-suite extended stay hotel at the Select Citywalk Mall in Saket last week. They have tied up with Sterling Resorts Preferred Group of Hotels for the venture.
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Saket and apoorv house is a location in Delhi in India. If you have seen Saket and apoorv house , then write us a review comment or your experience about this site in Delhi. This site is to provide information to visitors to this place. Your comment about Saket and apoorv house is important to us. Please provide you comment / review / article on Saket and apoorv house in Delhi below.
Unitech, the countrys second-largest listed real estate company, has put on the block all its six hotel projects under construction to reduce its capital expenditure and raise cash to fund its other ongoing projects. The company is in talks with a few private equity investors to sell all its six properties, being constructed at Gurgaon and Kolkata.
We are looking at divesting up to 100% stake in all six properties, comprising 1,000 rooms. We are also talking to a few private equity funds for this, but a deal hasn’t been clinched yet, a top executive at Unitechs hospitality arm told
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The countrys largest real estate developer DLF expects to raise around Land as investment Buying a house? Quote price EMIs and tenure Rs 900 crore in the next three months by selling at least eight hotel plots across the country, a senior company executive said.
The real estate major is talking to several hotel companies, including ITC, Accor, Hyatt, Park Hotels, and buyout fund Duet Group for sale of these plots, he added, refusing to be identified. Plots on the block are located in Mumbai, Kolkata, Bangalore, Gurgaon, Baroda, Lucknow, Kasauli (Himachal Pradesh) and Sikkim.
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