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Tulip Star Hotel up for sale at over Rs 1.3k crore

Tulip Star Hotel (formerly known as Centaur) in Mumbai is up for sale according to a TOI report. The Asset Reconstruction Company (India) Ltd, Arcil, which invited bids from prospective clients last week, has set a reserve price of Rs 1,315 crore for the six-acre sea-facing property on Juhu Tara Road.

The auction, scheduled for next month, comes after owner of V Hotels failed to repay the Rs 235-crore loan. The sale will include the land, buildings and structures, machinery, plant, fixture and fittings on ‘as is where is and as is what’ basis.