1 min read.Updated: 21 Jun 2018, 10:41 PM ISTBidya Sapam
Bloom Hotel outbids Tata Group's Indian Hotels (IHCL) and Byke Hotels and Resorts to acquire the Janpath hotel, which is also called Hotel Asian International
Mumbai: Hospitality firm Bloom Hotel Group, part of Imperativ Hospitality Pvt. Ltd (IHPL), has won the bid for Janpath hotel, a three-star property located on Delhi’s Janpath Lane.
The Delhi-based hotel firm has outbid Tata Group firm Indian Hotels Co. Ltd (IHCL) and Byke Hotels and Resorts to acquire the 38-room property, which is also called Hotel Asian International.
The New Delhi Municipal Council (NDMC) had auctioned the hotel, which was shut since 2015 because of default in payment of licence fee by its previous owner.
Bloom Hotel has emerged as the top bidder, offering to share 39.5% of the revenue earned from the property, said an official who is aware of the development. The company won a 33-year lease with NDMC to operate the property, the person said.
“Central Delhi has limited accommodation for the value conscious traveler and with this hotel we aim to provide a world class product to guests both domestic and international," said Sanjeev Sethi, chief operating officer, Bloom Hotel.
Bloom Hotel currently operates eight hotels in Bengaluru, Goa and Delhi. It plans to set up an additional 100 hotels across South Asia over the next five years.
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