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Indian Hotels sells Blue Sydney Hotel to Hind Group for $30M

The 100-room hotel was earlier acquired by IHCL in 2006 for $27.1 million.

Tata Group’s flagship hospitality firm and India’s largest hotel chain operator Indian Hotels Company Ltd (IHCL) has sold its Blue Sydney Hotel to Hong Kong based-Hind Group for A$32 million (around $30 million), company announced on Friday.

 “IHCL is looking for this divestment to focus in its core markets and create liquidity to fund its short to medium fund requirements for its ongoing expansion,” the company said in a stock exchange announcement.