Bloom Hotel Group has won the auction for a three-star hotel located at Janpath lane in New Delhi, India.
Bloom Hotel Group, a part of Imperativ Hospitality Pvt Ltd (IHPL), has outbid Tata Group firm Indian Hotels Company Ltd (IHCL) and Byke Hotels and Resorts during the auction.
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The Samena Capital-backed Bloom Hotel Group has acquired the 38-room property, Hotel Asian International, which is located adjacent to Hotel Royal Plaza on Ashoka Road.
New Delhi Municipal Council (NDMC) conducted the e-auction of the hotel, which has been closed since 2015 as it defaulted payment of license fee.
NDMC claimed that the property’s license fee will support it finance public projects.
The bidding for the hotel began at 36% of the total turnover and had come to close when Bloom Hotel offered to share 39.5% of the revenue generated from the property for 33 years, thereby beating other bidders.
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By GlobalDataBloom Hotel chief operating officer Sanjeev Sethi was quoted by Livemint.com as saying: “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.”
Bloom Hotel is presently operating eight hotels, which are located in Bengaluru, Goa and New Delhi.
It is planning to expand its business across South Asia over the next five years, with plans to add 100 more hotels.
Bloom Hotel Group operates hotels under two categories – Bloom Suites and Bloom Rooms. It is planning to expand its footprint to locations such as Pune, Kochi and Ahmedabad.
