Hansoge Enterprises, affiliated with the Ozone Group, has finalized the sale of a boutique hotel near Bengaluru International Airport at an estimated INR 150-crore transaction.
The approximate rate for the deal involving the 175-room, 1.5 lakh sq ft mid-scale hotel stands at roughly Rs 10,000 per sq ft.
Colliers, acting as the deal advisor, mentioned its collaboration with JC Flowers Asset Reconstruction Company, serving as the trustee, and the bank. However, the buyer’s identity remains undisclosed.
“Colliers India played a crucial role in devising an exit strategy for the promoters looking to liquidate the asset, meeting the objectives of the buyers aspiring to establish a presence in this thriving metro area,” stated the property consulting firm.
Hansoge specializes in executing hotel projects for the Ozone Group, renowned for its properties in Bengaluru, Coorg, Kabini, and Chikmagalur.
Piyush Gupta, Managing Director, Capital Markets and Investment Services, Colliers India, remarked, “This was a complex deal with various intricacies involving the asset reconstruction company, banker, seller, and buyer. Leveraging our team’s comprehensive understanding of the nuances, we achieved a successful closure.”
Gupta also highlighted the burgeoning potential of India’s hospitality sector, citing its trajectory toward significant growth driven by rising tourism, business travel, and a growing preference for an enhanced lifestyle.