Advent Hotels sells 50% stake for ₹504 crore to Prestige
pre-market1 source ↓written by the desknot a recommendation
- in its Sahar
- 50% stake
- Prestige Estates
- ₹504 crore
- integrated hospitality project
- ₹4,500 crore
- of land
- 21,978.22 sq. meters
Advent Hotels has sold a 50% stake in its Sahar project SPV to Prestige Estates for ₹504 crore. This joint venture aims to develop a ₹4,500 crore integrated hospitality project near Mumbai's International Airport, covering 21,978.22 sq. meters of land.
The collaboration signifies a strategic move in the hospitality sector, enhancing market presence for both companies. This deal may attract investor interest in the hospitality and real estate sectors as development progresses.
Not investment advice. For informational purposes only.