India-based Asian Hotel (North) has acquired a 53% stake in an international hospitality consulting firm, which is yet to be disclosed.

Asian Hotel entered into a joint venture with an investment of Rs4bn ($90m) to acquire the controlling stake.

Asian Hotel said the investee company is in the business of hospitality consultancy services.

The investment will enable it to consolidate its hospitality business in the Asia subcontinent, according to the Economic Times.