MUMBAI, India – The Ritz-Carlton Hotel Company, LLC has signed a long term management agreement with a consortium led by Oberoi Realty and Sahana Group to open the first Ritz-Carlton in Mumbai, the en
MUMBAI, India – The Ritz-Carlton Hotel Company, LLC has signed a long term management agreement with a consortium led by Oberoi Realty and Sahana Group to open the first Ritz-Carlton in Mumbai, the entertainment, commercial and financial capital of India, and the second in the country following the recent opening of The Ritz-Carlton, Bangalore in Karnataka.
The 238-room Ritz-Carlton will be located in Worli, the heart of central Mumbai, a thriving new business district with easy access to the international airport.
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Oberoi Realty buys Sahana Group’s 50% stake in Worli project for Rs 1,040 crore: Report
Situated on Dr Annie Besant Road, the hotel is to be operated by the Ritz-Carlton and is part of Oasis Realty’s Three Sixty West project December 19, 2020 / 01:02 PM IST
Oberoi Realty has bought out Sahana Group’s 50 percent stake in the under construction 221-key five-star hotel in Mumbai’s Worli area for Rs 1,040 crore.
The luxury property was acquired through Oberoi’s subsidiary Evenstar Hotels from Oasis Realty in which Sahana Group’s Sudhakar Shetty held 50 percent stake, The Economic Times reported.
Moneycontrol could not independently verify the report.
Oberoi Realty buys out Sahana Group’s stake in Worli hotel for Rs 1,040 crore
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Synopsis
The developer has purchased and taken possession of the under-construction hotel property on Dr. Annie Besant Road through its wholly-owned subsidiary Evenstar Hotels, the company said in a regulatory filing.
Prior to the acquisition by Evenstar, the hotel property was owned by Oasis Realty, in which Sudhakar Shetty’s Sahana Group held 50% stake.
MUMBAI: Realty developer
Oberoi Realty has bought out its partner Sudhakar Shetty-led Sahana Group’s entire 50% stake in an upcoming five-star luxury hotel property in Mumbai’s plush Worli locality for Rs 1,040 crore.