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DLF may exit luxury hotel chain: paper

DLF may exit luxury hotel chain: paper
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First Published: Mon, Sep 21 2009. 12 45 PM IST
Updated: Mon, Sep 21 2009. 12 45 PM IST
Mumbai: The largest listed real estate firm DLF Ltd is examining various options to fully or partly exit its international luxury hotel chain Amanresorts, which it bought in late 2007, the Economic Times newspaper reported on Monday.
DLF spokesman Sanjey Roy, however, told Reuters: “It is a totally speculative and baseless report.” He denied the company was looking to sell a stake in Amanresorts.
DLF has held preliminary talks with at least two Indian hotel chains, but discussions hit a roadblock due to a gap between the buyer’s and seller’s expectations, the paper said.
“There is surely an interest among potential buyers. They have spoken to us. But it’s just been talks, little else, as their offer price is too low compared with the price we had paid for Aman in 2007,” the paper quoted a senior DLF official as saying.
The official, who requested anonymity, did not name the companies that have shown interest in Amanresorts, the paper said.
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First Published: Mon, Sep 21 2009. 12 45 PM IST