Bird Group acquires Royal Park Hotel

New Delhi: Delhi-based aviation and hospitality entity Bird Group has acquired the landmark Royal Park Hotel next to the famous Hyde Park in Central London, its first overseas hotel acquisition.
The five-star boutique property offering 48 exquisite rooms and suites has been acquired by Bird Group's hospitality arm Bird Hospitality Services (BHS), which has envisaged $400 million for the hotel business. Beside the overseas acquisition, BHS would use the funds for developing five luxury hotels in India in collaboration with Dusit Thani Group of Thailand. Bird has mandated Grant Thorton and Ian McDonald & Associates for raising funds for its hospitality vertical.
Speaking to ET, Bird Group executive director Ankur Bhatia said: "We acquired the Royal Park last week from Irish Investment Company. We plan to refurbish the hotel in next few months targeting the huge rush of guests expected for the 2012 Olympics in London."
The property will be managed by US-based independent hotel management company Hotels and Resorts, which will be responsible for the overall operations, sales and distribution after the acquisition.
07/04/11 Chanchal Pal Chauhan/Economic Times

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Categories: Indian Aviation- In General Apr 2011