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Foreign company to take over major Indian hotel chain

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According to the sources available with www.propertykhazana.com, Berggruen Holdings is geared up to purchase UK investment group’s Dawnay Day 4 star hotel in India. The worth of the contract is about USD 50 Million and Dawnay Day had started the procedure of selling its investments in financial services, hotels and realty projects in India, while UK firm cut down fatality to post-subprime credit chomp.
BDO Stoy Hayward is affianced selling the firm’s properties across the world. Hotel and realty developers like ITC, Pride Hotels, Royal Orchid, Lemon Tree, Sarovar Group, DLF and Parsvnath are in the race to purchase Dawnay Day’d three star hotel assets and other realty properties in India. Dawnay Day manages its realty and hotel business in India through its subsidiary Dawnay Day Hotels and Dawnay Day India Land.
As per to the source saying at the www.propertykhazana.com Dawnay Day has three assets in Pune, Jaipur and Ahmedabad, Jaipur property will be ready shortly as Ahmedabad property will be completed in the coming 2-3 years. Pune property is likely to be ready, but experiencing some problems.
Sources available with www.propertykhazana.com say that, Pune property will not be the part of the package owing to some problems.” Company is willing to be a main player in the mid-range sector, possessing and handling 100 rooms, full-service hotels working in Rs. 1,000-2,000 rating sector. Hotels will be extended across Tier I, II & III cities with a combination of industrial, business and tourism hubs.

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