India-based Royal Orchid Hotels has secured operational rights for a 300-room hotel at Mumbai International Airport in Maharashtra, The Economic Times (ET) reported.
The new hotel is poised to cater to the business travel sector with its strategic positioning and bespoke amenities.
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NOESIS Capital Advisors, an Indian hospitality-focused advisory company, offered exclusive advisory services for the transaction.
The acquisition signifies Royal Orchid Hotels’ entry into a new phase of growth, introducing a five-star brand designed to meet the requirements of business travellers.
The hotel’s offerings include diverse food & beverage options and banqueting facilities.
A highlight of the hotel’s new approach is the integration of advanced technology, such as automated ironing services.
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By GlobalDataRoyal Orchid Hotels chairman and managing director Chander Baljee emphasised the transaction’s potential to dominate the market and expressed confidence in its strategic significance.
He hailed this project as a critical asset in the Royal Orchid Hotels portfolio.
ET quoted NOESIS Capital Advisors CEO Nandivardhan Jain as saying: “At NOESIS, our team is exceptionally equipped to navigate the intricate terrain of complex and large-scale transactions. With a wealth of experience, unrivalled expertise and an unwavering commitment to our clients’ success, we thrive in the face of challenges.
“This transaction with Royal Orchid Hotels stands as a validation of our team’s expertise in orchestrating transformative deals that shape industries and drive sustainable growth.”
The hotel is expected to begin welcoming guests by January next year.
The hotel company recently announced its plans to open 30-35 new properties across the country in the fiscal year 2024-2025. The growth strategy will add 2,000 rooms to its inventory.
