IL&FS India Realty Fund II will be investing about Rs 70-80 crore for a 30-40 per cent stake in Aria Hotels and Consultancy Services, a subsidiary of Asian Hotels (West) promoted by Sushil Gupta.
This subsidiary owns a new hotel to be constructed at the Delhi international airport. A formal announcement of the deal is expected on July 12th .
Aria Hotels and Consultancy Services was recently awarded a piece of land, for which a development agreement has been signed with Delhi airport, for a five-star hotel in the proposed Aerocity - Hospitality District, New Delhi.
Transaction Reference: FC
Asian Hotels (West) owns the Hyatt Regency Hotel in Sahar, near the Mumbai international airport, which is a five-star hotel with over 400 rooms and suites in addition to a number of serviced apartments used by expats.
Asian Hotels (West) was incorporated as Chillwinds Hotels which was a part of Asian Hotels. On February 11, Asian Hotels was demerged into three separate companies, Asian Hotels (North), Asian Hotels (West) and Asian Hotels (East), earlier known Vardhman Hotels. The Western entity was transferred to the Gupta-controlled company whose shares are to be listed on both Bombay Stock Exchange and National Stock Exchange.
IL&FS Milestone Realty Advisors is a joint venture between Milestone Capital Advisors and IL&FS Investment Managers. Through IL&FS Milestone Fund, recently acquired 74 per cent in 24x7 HCC Park, a 1.8 million square feet commercial property in Vikhroli, Mumbai.
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 12/07/10 |
Aria Hotels (Asian Hotels (West) SPV) - IL&FS India Realty Fund II |
Private Equity |
IL&FS India Realty Fund II |
17.00 |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 08/02/12 |
Private Equity |
Bain Capital Advisors India Private Limited |
Barbeque Nation Hospitality Limited |
30.00 |
Planned |
| 01/02/12 |
Private Equity |
|
CGH Earth |
50.49 |
Planned |
| 30/01/12 |
IPO / Offerings |
|
Pride Hotels Limited |
25.30 |
Called Off |
| 30/01/12 |
M&A |
Sahara Group |
Marriott Hotels Inc |
1175.47 |
Planned |
Fund |
| Name | Corpus | Target Sector | Website | KeyContact |
| IL&FS India Realty Fund II |
895 |
Real Estate |
www.ilfsinvestmentmanagers.com/active_IIRF2.aspx |
Shahzaad DalalArchana Niranjan HingoraniAlok BhargavaMark A SilgardoManoj Borkar
|
Company |
| Name | Promoters | Office | Competitor | Website |
| Aria Hotels & Consutancy Services Private Limited |
Asian Hotels (West) Limited |
E-Basement, Clarion Collection- The Qutab Hotel, Shaheed Jeet Singh Marg,
New Delhi-110016. Delhi, India. |
|
|
