Tata group firm Indian Hotels Company picks majority stake in Rajscape Hotels
The acquisition of majority shareholding is aimed at strengthening IHCLs presence in the experiential leisure segment.
Indian Hotels Company Ltd (IHCL) on Tuesday announced the acquisition of majority stake in Rajscape Hotels, which manages boutique properties under the 'Tree of Life Resorts & Hotels' brand, joining hands with the Ambuja Neotia Group.
The acquisition of majority shareholding is aimed at strengthening IHCL's presence in the experiential leisure segment.
In a regulatory filing, IHCL informed that its board has approved the execution of a Share Subscription and Purchase Agreement, and Shareholders' Agreement to acquire about 55 per cent equity shares "for an amount not exceeding Rs 18 crore in Rajscape Hotels Private Limited".
Rajscape Hotels manages 16 boutique properties under brand 'Tree of Life Resorts & Hotels' across India.
Puneet Chhatwal, MD & CEO, IHCL said, "Recognising the growing demand for experiential leisure, IHCL is excited to onboard the Tree of Life brand and scale it to 100 properties by 2030."
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