Indian Hotels, Sarovar, The Byke in race to acquire The Connaught
Indian Hotels Company Ltd (IHCL), which runs the Taj chain of hotels, and Sarovar Hotels Ltd are among the three hotel chains vying for New Delhi’s, The Connaught, an 85-room premium hotel, which was shut down two years ago.
Mumbai-based hospitality firm The Byke Hotels and Resorts, which has presence in Jaipur, Manali and Kovalam, has also submitted its bids to acquire the property, said a company official, on the condition of anonymity.
Spokespersons of IHCL, Sarovar Group and Byke Hotels confirmed the development. The final auction of the property will be held on June 20.
In May 2016, New Delhi Municipality Council (NDMC) had sealed the hotel, after investigations into the controversial murder of an estate officer revealed the involvement Ramesh Kakkar, the then promoter of the hotel. Kakkar, who owed around ₹140 crore as licence fee to the civic body, along with six others, was arrested for the murder of MM Khan, an NDMC official killed a day before he was to pass the final order on the property’s lease terms.
Along with The Connaught, NDMC has also put up two other hotels, The Taj Mahal Hotel on Mansingh Road, or the Taj Mansingh, and Asian International Hotel at Janpath, on the block.
While the auction of Taj Mansingh is likely to be delayed, given that it has not received enough bidders, Asian International Hotel has received three bids, said one person aware of the development.
On June 8, Mint had reported that IHCL, the current operator of Taj Mansingh, had emerged as the only bidder for the iconic property.
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