Hyderabad Airport Hotels

GMR Group plans to sell Hyderabad airport hotel
March 4, 2015 – 04:04 pm
Barcelona Airport Map Fares of

Invites expression of interest from proposed buyers with a floor price of ₹215 crore

Hyderabad, August 25:

The GMR Group plans to sell its stake in GMR Hotels & Resorts Ltd, which owns Novotel Hyderabad Airport hotel close to the Rajiv Gandhi International Airport.

The diversified GMR Group has invited expression of interest from proposed buyers, with a floor price of ₹215 crore as the enterprise value for GMR Hotels & Resorts Ltd.

The group has been divesting some of the matured assets as it seeks to reduce the overall debt. Working towards its “Asset Light, Asset Right” strategy, it has in the past 12-18 months divested stake in a couple of road projects, an airport project overseas and a power project, while also increasing its stake in the Delhi International Airport.

A company official said, “The offer comes after complying with the objections raised by the Government representative who is on the Board.”

The five-star property has been serving as a transit hotel for the past few years since its completion.

GMR tried to sell the hotel, managed by the Accor Group, about a year ago. The newly-elected Telangana Government had raised objections and wanted the process to be conducted in a transparent manner with proper price discovery. The company had received bids from InterGlobe, Sea Valley Resorts and Samhi Hotel Group.

Source: www.thehindubusinessline.com
You might also like
Hotel Novotel Hyderabad Rajiv Gandhi International Airport
Hotel Novotel Hyderabad Rajiv Gandhi International Airport ...
Soumitra Pahari Hotel Novotel Hyderabad Airport - Hybiz.tv
Soumitra Pahari Hotel Novotel Hyderabad Airport - Hybiz.tv
SILVER TOUCH TECHNOLOGIES INC Hyderabad
Mobile Application (SILVER TOUCH TECHNOLOGIES INC)
  • Weather: Get detailed information on the weather with parameters like Date, Condition, Humidity and Wind. The user can also get the last 4 days weather report. The...
  • Metro: Become familiar with the by-lanes of the city of Hyderabad from the City Map provided within the application. Know where to go and which route to pick.
  • Train Schedule: Application can allow the user to view Train Schedule of different different routes of Hyderabad and in order to get the best results on this, user...
  • Must Visit: Hyderabad offers pleasant and exciting surroundings such as Charminar, Mecca Masjid, Golconda Fort, Taramati Baradari, Salar Jung Museum, Birla Mandir...
  • Hotels: Stay at the most luxurious hotels. The app provides detailed info about hotels ratings, location details, cuisine served, contact info, etc.
  • Nightlife: Sip your favourite drinks, have a gala time at the bars and pubs in Hyderabad. Get the address and contact number of the most popular bars & pubs...
  • Emergency: While your stay in Hyderabad, be informed about the various emergency numbers such as Crime, Medical, Radio Taxi, Airport, Railways, Roadways etc from...
  • Lingo Help: Internet Connectivity is required to use Lingo Help. The default translation is to. Download Hyderabad application now!
Related Posts