Mumbai-based DB Realty is entering the hotel and hospitality industry by acquiring ownership stakes in several entities. This includes a 50% ownership in Bamboo Hotel Global Centre, which is constructing a hotel complex in Aerocity, New Delhi, featuring the St. Regis and the Marriott Marquis hotels. DB Realty also intends to purchase Goan Hotels, which owns the Grand Hyatt Goa, and acquire 75% of the equity shares in BD and P, the owner of the Hilton Mumbai International Airport. This strategic move allows DB Realty to diversify its business and tap into the growing hospitality market to generate a consistent stream of income.
Mumbai-based DB Realty intends to venture into the hotel and hospitality industry by acquiring ownership stakes in Bamboo Hotel Global Centre situated in Delhi, Goan Hotels and Realty, BD and P Hotels (India) for a total investment of approximately Rs 2,358.68 crore.
Bamboo Hotel, a collaboration between Prestige Hospitality Ventures and Marine Drive Hospitality & Realty (MDHRPL), is currently in the process of constructing a hotel complex ‘Prestige Trade Centre’ in Aerocity, New Delhi. This complex will include the St. Regis and the Marriott Marquis hotels, providing a combined total of 990 rooms. Additionally, there will be a substantial conferencing facility spanning 200,000 sq. ft and approximately 6.15 lakh sq. ft of leasable office and business centre space. Delhi International Airport (DIAL) has leased the property to Bamboo Hotel for a total duration of 57 years, which includes a 30-year lease extension. The entire project encompasses a built-up area of approximately 3.3 million square feet. DB Realty intends to acquire 10,10,000 Class A equity shares, equivalent to approximately 50% ownership, from the current shareholder of Bamboo Hotels.
Goan Hotels, a fully-owned subsidiary of MDHRPL, possesses a five-star hotel known as Grand Hyatt Goa (GHG), situated in Bambolim, Goa, spread across 27 acres of waterfront freehold land. In the case of Goan Hotels the above-mentioned purchase is intended to be made from MDHRPL or its nominee, existing shareholders.
BD and P, a subsidiary of MDHRPL, currently possesses 75% equity stake and is the owner of the Hilton Mumbai International Airport. The company plans to acquire roughly equivalent to 75% of the equity shares, from MDHRPL, the current shareholder of BD and P.
The company, already engaged in real estate and construction, is strategically extending its operations into the hotel and hospitality sector. The move signifies DB Realty's foray into a new industry, leveraging opportunities in the booming hospitality market. According to a regulatory filing, this move into the hotel business aims to secure a consistent stream of income, supporting the company's growth initiatives and expansion plans.
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