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Royal Orchid Hotels to sell Jaipur hotel, land parcels in Mumbai and Tanzania

Tuesday, 21 Jul 2020
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Royal Orchid Hotels is looking at selling assets and land parcels in locations like Mumbai and Tanzania.

The company is planning to sell its stake in the five-star hotel in Jaipur, Rajasthan, besides land parcels in Powai and Tanzania.

The hotel chain is looking at getting investors for its loss-making assets. It is looking for a buyer for its hotel in Jaipur which is loss-making and has debt and land parcels.

The company had a plan to build a hotel in Powai but the company got into the asset light mode and dropped the plan of constructing one.

The chain has 50 percent stake in the Jaipur hotel and is hoping that it will sell for around Rs 160 crore.

Royal Orchid has hotels in locations like Bengaluru, Navi Mumbai, Pune, Goa, Ahmedabad, Chennai and Kolkata.

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