Join hospitality professionals

Enter your email address:



Get all the latest job, news, views, ideas and more FREE!!

ITC highest bidder for Park Hyatt in Goa, but owner cries foul

ITC Hotels, India's second largest hotel chain, has emerged as the highest bidder for Goa-based Park Hyatt property, which was put on the block by IFCI. But the original owners allege the property is being sold at a throwaway price.

P L Suri-headed Blue Coast Hotels, the owner of the Goa property, said the hotel which was kept as a collateral against loan taken from IFCI has been put on the block by the state-owned finance company despite no mutual consent.
source: http://www.business-standard.com/article/companies/itc-highest-bidder-for-park-hyatt-in-goa-but-owner-cries-foul-115022400012_1.html