Asian Hotels (West) is set to acquire a majority stake in Inovoa Hotels and Resorts. The deal is expected to be completed in a couple of months.

The acquisition is in line with Asian Hotels’ focus on building a four-star deluxe hotel chain in the country. Post acquisition, Inovoa will become a subsidiary company.

Transaction Reference: DNA

Asian Hotels (West), promoted by Sushil Gupta 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.

Its second hotel is a five-star deluxe hotel in Delhi, which will be operational by 2012.

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 three promoters of Asian Hotels Ltd. - Sushil Gupta, Shiv Jatia and Umesh Saraf brought the Hyatt hospitality brand in India.

After the demerger, Jatia will operate the Delhi-based Hyatt Regency, Gupta will control Hyatt Regency in Mumbai and Saraf will look after the Kolkata-based Hyatt Regency.

Asian Hotels (West) was transferred to the Gupta-controlled company whose shares were listed this week on BSE and NSE at Rs.242. Asian Hotels (West) will use the money to part finance the setting up of a high-end hotel in Delhi along with its partner Marriott Internationa

Last month, IL&FS Investment Managers had announced to invest Rs.80 Cr to acquire a 33% stake in Aria Hotels and Consultancy Services, a subsidiary of Asian Hotels (West). This subsidiary owns a new hotel to be constructed at the Delhi international airport.

Inovoa Hotels, promoted by Sandeep Gupta, Sushil Gupta’s son, plans to establish presence in the premium and mid-market hospitality segment in India. Hillwood Corporation USA, a Ross Perot Jr. company, holds 24% in the company.

Inovoa has signed a 20-year master franchise agreement with NYSE-listed Choice Hotels International Inc for the Clarion brand. The the first 130-room hotel under the ‘Clarion Century’ brand has been recently soft-launched at Bengaluru.

Three months back, Inovoa acquired a 1.5 acre land and is looking to develop a 150-room hotel there.

Recently,Mirah Group bought 'Rajdhani Thali' which is run by Encore Hotels Pvt Ltd.

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