Apeejay Surrendra Park Hotels Ltd has announced its acquisition of a 90% stake in Zillion Hotels and Resorts Pvt Ltd for approximately INR 210 crore. The deal will significantly expand the hospitality group’s portfolio.
According to the regulatory filing, the agreement involves purchasing the stake from the Handa and Nair family shareholders at a valuation of INR 2,092,500,000. Once the transaction is finalized, Zillion Hotels and Resorts will become a subsidiary of Apeejay Surrendra Park Hotels.
Zillion Hotels currently operates Z Luxury Residences, which includes 62 premium serviced residences and multiple food and beverage facilities in Maharashtra.
This acquisition aligns with Apeejay Surrendra’s growth strategy, further strengthening its presence in the luxury hospitality segment. The company has yet to disclose the exact timeline for closing the deal, noting that it will be determined in agreement with the parties involved.
source: PTI
