Apeejay Surrendra Park Hotels Expands Portfolio with Major Acquisition

Apeejay Surrendra Park Hotels Ltd announces its plan to acquire a 90% stake in Zillion Hotels and Resorts Pvt Ltd for approximately Rs 210 crore. This strategic move will make Zillion Hotels and Resorts a subsidiary. The acquisition involves 62 luxury service residences in Maharashtra.

Apeejay Surrendra Park Hotels Ltd on Thursday confirmed plans to acquire a significant 90% stake in Zillion Hotels and Resorts Pvt Ltd from the existing shareholders, the Handa and Nair families.

The Rs 210 crore cash deal represents a strategic expansion for the hospitality chain, renowned under the flagship Park brand. This acquisition will bring Zillion Hotels and Resorts' 62 luxury service residences and dining facilities in Maharashtra under its umbrella as a subsidiary.

The completion timeline for this acquisition remains flexible and will be defined by mutual agreement between the involved parties, as stated in the regulatory filing.