| The
hospitality division of Apeejay Surrendra Hotels owns
hotels in Delhi, Kolkata, Chennai, Bangalore and Visakhapatnam.
With the newest one coming up in Navi Mumbai, it will
have six hotels. Barring the last two, others are part
of the Design Hotels, based in Germany. The chain does
pride itself consisting of boutique hotels.
Credit Suisse could acquire 10-15% through its real
estate fund for Rs.2.2 billion (US $56 million). ICICI
Securities is handling the transaction as advisor.
It will be more than a simple investment for the bank
fund. A representation on the board will help it chalk
out the long term strategy of the hotel too.
The Apeejay was established in 1910 and has been into
the hotel business for around 40 years, with the Park
Hotel at Park Street, Kolkata being the first landmark
hotel which opened on November 1, 1967.
 A
senior executive of the hotel when contacted in Delhi
by delWine affirmed that something was under finalization,
but was not in a position to comment any further. Delhi
based Ms. Priya Paul, who overseas the hospitality section
of the group including all the hotels, was also not
available for comments.
The Apeejay Surrendra Group’s declared intent
is to be India’s largest and most profitable family
owned business in India by 2010, when the group completes
100 years.
Source: http://www.business-standard.com/common
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