Jaypee Group’s hospitality division Jaypee Hotels has put Jaypee Siddharth, its recently renovated Delhi property, on sale. Industry sources said the asking price for this 94-room premium hotel in the commercial hub of central Delhi is about Rs 375 crore.
Jaypee,
which owns and operates its properties, has around seven hotels in Delhi, Greater Noida, Agra and Mussoorie. When contacted, Manju Sharma, Director, Jaypee Hotels, declined to comment. However, industry sources who confirmed that the company is scouting for buyers said, “It wants to sell this property to plough back funds into some of its other projects under the hotel division. The property is doing well with 70-80 per cent occupancy, said The Financial Express report Vishakha Talreja Guha. A hospitality sector analyst said, “Since Jaypee is now focusing on sports tourism and has expansion plans for its four-star brand and developing properties on its land parcels, it might want to deploy the proceeds of the sale in other hospitality projects.” Jaypee Hotels is a part of diversified business conglomerate Jaypee Group that has interests in engineering, construction, power, cement, real estate and recently, sports. The Group’s latest addition is the Jaypee Golf and Spa Resort in Greater Noida, developed close to Jaypee’s F1 track. The property that covers around eight lakh square feet area (excluding the golf course) was developed at a project cost of more than Rs 500 crore. It will house India’s first Six Senses Spa that will open its doors in couple of months. Besides five-star, Jaypee also has a four-star brand Delcourt and is aggressively looking at expanding in that segment, Sharma had told FE earlier.
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which owns and operates its properties, has around seven hotels in Delhi, Greater Noida, Agra and Mussoorie. When contacted, Manju Sharma, Director, Jaypee Hotels, declined to comment. However, industry sources who confirmed that the company is scouting for buyers said, “It wants to sell this property to plough back funds into some of its other projects under the hotel division. The property is doing well with 70-80 per cent occupancy, said The Financial Express report Vishakha Talreja Guha. A hospitality sector analyst said, “Since Jaypee is now focusing on sports tourism and has expansion plans for its four-star brand and developing properties on its land parcels, it might want to deploy the proceeds of the sale in other hospitality projects.” Jaypee Hotels is a part of diversified business conglomerate Jaypee Group that has interests in engineering, construction, power, cement, real estate and recently, sports. The Group’s latest addition is the Jaypee Golf and Spa Resort in Greater Noida, developed close to Jaypee’s F1 track. The property that covers around eight lakh square feet area (excluding the golf course) was developed at a project cost of more than Rs 500 crore. It will house India’s first Six Senses Spa that will open its doors in couple of months. Besides five-star, Jaypee also has a four-star brand Delcourt and is aggressively looking at expanding in that segment, Sharma had told FE earlier.
Source
Search for Food & Beverage Jobs in Delhi