Thursday, 26 January 2017

Eros Group to explore acquisition of distressed assets pan-India

Leading real estate group of Delhi NCR, Eros Group, which boasts of seven decades of legacy in real estate development, including hospitality developments in the region, will explore acquisition of distressed hotel assets pan-India in the next couple of years.  The Group owns five upscale hotel assets in the national capital region, including the newly opened Radisson Blu Faridabad.

Speaking to Hospitality Biz on the sidelines of the official opening of the Faridabad property, Akshay Sood, Director, Eros Group said that the group expects “interesting” times in the hospitality development in the next couple of years, and might explore picking up existing hotels or semi-built hotel assets or even Greenfield properties across India.  “We might pick up couple of such properties if we get them at the right price,” he said.  When asked about the probable destinations, Sood said that they are open to investment opportunities pan-India.

Eros Group opened the first five-star deluxe hotel in Faridabad, an industrial town adjoining Delhi, recently. Radisson Blu Faridabad has 124 rooms with spacious banqueting and conference facilities to cater to both corporate and social events.  

As far as brand partnerships are concerned, Sood said that they tie up with hotel management companies with “synergies” as well as experience and expertise in the market.  Eros Group owns Shangri-la Eros Hotel New Delhi, Eros Hotel Nehru Place New Delhi, Crowne Plaza and Holiday Inn, a twin hotel, in Mayur Vihar Delhi.

Resource: http://www.hospitalitybizindia.com/
Resource: http://grandiose.org.in/

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