Assotech Realty, a real estate development company, has announced their foray into the hospitality industry with the initiation of its first serviced apartment in Shirdi recently. To be built with an investment of about Rs 100 cr, the 142-room serviced apartment with five-star facilities will be the first in the series of similar projects the real estate developer intends to take up in pilgrim and business destinations across the country. These serviced apartments will be managed and operated by Sandal Suites, a subsidiary company of Assotech Realty.
Sahara Group has put up for sale the luxury hotels it acquired over the last three years — The Plaza and Dream Downtown in New York and Grosvenor House in London. An Arab business family said to have made a GBP one billion offer for all of them, stated a report by Palak Shah in Economic Times.