Sabari Group of
Hotels, Chennai based hospitality chain has acquired three hotel properties of
The Nilgris Nest Hotels, part of the Nilgris retail chain, substantially-owned
by private equity firm, Actis, UK.
Sabari Nest Inn, a
newly formed entity carried on the acquisition of the 105 rooms, spread over
three properties across Bangalore, Coimbatore and Chennai, through an all-cash
deal at a valuation of around Rs.100 crore.
In addition, Sabari
has also acquired a 50-room hotel in Kodaikanal recently for about Rs.15 crore.
The company which plans to be a 1,000 room hospitality group will be adding
about 360 rooms in Bangalore, Pune and Coimbatore as well.