Rooms Hotels

Luxury chain Amanresorts sold to management for $300 million

Excerpt from Economic Times

Dec 18, 2012 10:21 pm

Skift Take

Amanresorts is as luxury boutique as you get, and now that it is independent, it will likely be a better fit with its authentic, small, intimate image.

— Rafat Ali

Register Now for Skift Global Forum

Amanbagh in Jaipur, India


DLF, India’s biggest property developer, will sell its Amanresorts luxury hotel chain in a management buy-out — to founder and chairman Adrian Zecha — with an enterprise value of around $300 million…the deal does not involve Amanresorts’ flagship New Delhi hotel.

Amanresorts, with assets including 22 hotels in 12 countries, has been on the block for around two years.

“DLF Global Hospitality Ltd (DGHL), 100% step-down subsidiary of DLF, and Adrian Zecha, the founder and chairman of the Amanresorts Group of luxury resorts, are pleased to announce the signing of a definitive agreement to effect Zecha’s Management Buy-Out (MBO) of DGHL’s 100 per cent shareholding in Silverlink Resorts Ltd, the holding company for Amanresorts.”

Read the Complete Story →

Tags: , ,

Next Up

More on Skift

Skift Business Traveler: American Airlines Avoids Big Labor Woes
Interview: Expedia’s CEO on the Transformation of Travel Booking
Average U.S. Hotel Rate Nearly Hit an All-Time High in First Half of 2014
Free WiFi Tops Business Travelers’ List of Hotel Must-Haves