Advent Hotels sells 50% stake to Prestige for ₹504 crore
after close1 source ↓written by the desknot a recommendation
- in its Sahar
- 50% stake
- Prestige Estates
- ₹504 crore
- integrated hospitality project
- ₹4,500 crore
- deal involves
- 50:50 equity structure
Advent Hotels has divested a 50% stake in its Sahar project to Prestige Estates for ₹504 crore. This joint venture aims to develop a ₹4,500 crore integrated hospitality project near Mumbai's International Airport. The deal involves a 50:50 equity structure, enhancing both companies' positions in the hospitality sector.
• Transaction Value: ₹504 crore
• Project Scale: 21,978.22 sq. meters
• Development Value: ₹4,500 crore
This collaboration may boost market sentiment in the hospitality sector.
Not investment advice. For informational purposes only.