Reliance buys NY luxury hotel Mandarin Oriental

“I know there was a proposal which was under consideration. There are views which need to be synchronized and come to a final conclusion. But I want to understand what exactly is really required. Why can’t it be listed...So we are still examining that,” he said.

Further, Jain informed that DPIIT is organising the first-ever Startup India Innovation Week from January 10.

DPIIT has recognised more than 61,000 startups as on date and created over 6 lakh jobs since 2016.

“This startup and innovation festival’s primary goal is to bring together the country’s key startups, entrepreneurs, investors, incubators, funding entities, banks, policymakers, and other national or global stakeholders to celebrate entrepreneurship and promote innovation,” he said.

New Delhi, Jan. 9: Mandarin Oriental New York, the premium luxury hotel a subsidiary of Reliance Industries is acquiring, is known for its muchin-demand ballroom, fivestar spa and eating and drinking venues, including MO Lounge. Liam Neeson and Lucy Liu are among regular guests.

Set up in 2003, the 248rooms-and-suites hotel towering over Central Park is an iconic luxury hotel located at 80 Columbus Circle, directly adjacent to the pristine Central Park and Columbus Circle.

Mandarin Oriental New York occupies floors 35-54 and is known for its muchin-demand ballroom, fivestar spa and eating and drinking venues, including MO Lounge. Liam Neeson and Lucy Liu are among regular guests.

“Reliance Industrial Investments and Holdings Ltd (RIIHL), a whollyowned subsidiary of Reliance Industries Ltd (RIL), has today, entered into an agreement to acquire the entire issued share capital of Columbus Centre Corporation (Cayman), a company incorporated in the Cayman Islands and the indirect owner of a 73.37 per cent stake in Mandarin Oriental New York, one of the premium luxury hotels in New York City for an equity consideration of approximately $98.15 million,” the firm said in a stock exchange filing late on Saturday.

This is the second acquisition of an iconic hotel by Reliance in less than a year. In April last year, Reli-ance acquired Stoke Park Ltd in the UK — an iconic locale that’s been the setting for two James Bond films. The two iconic locales add to its current stake in Oberoi hotels and hotel/managed residences in Mumbai that it’s developing.