Tuesday, June 11News That Matters

Colliers successfully transacts sale of boutique hotel in Bangalore for prominent hospitality group

Mumbai, 4th January 2024: Leading diversified real estate services provider, Colliers India, successfully facilitated the sale of a boutique hotel in Bangalore for a well-known hospitality player. The team effectively collaborated with the Asset Reconstruction Company (ARC), Trustee, and the Bank, alongside the buyer and seller to transact the hotel asset spanning 150,000 sq.ft.

Focused on meeting the business needs of both parties involved, Colliers India played a pivotal role in providing an exit strategy for the promoters seeking to liquidate the asset and fulfilling the aspirations of the buyers aiming to establish a presence in the bustling metro location. The firm’s Capital Markets & Investment Services business recently ventured into the hospitality segment, given the sector’s resilience after taking a hit during and post the pandemic. Indian hospitality is presently on the growth path, making it an opportune time for stakeholders.

“It was an intricate deal as several complexities considering involvement of Asset Reconstruction Company and Banker along with Seller and Buyer, our team with in-depth understanding of issues could navigate and get to successful closure. The Hospitality sector in India has demonstrated a promising potential and is headed towards exponential growth with increasing tourism, business travels, and appetite for better lifestyle. As residential, office, and industrial sectors continue to attract capital, the share of investments in alternatives is increasing and touched around 51% in Q4 2023, reflecting this trend”. said Piyush Gupta, Managing Director, Capital Markets & Investment Services, Colliers India.

The seller involved in the transaction is Hansoge Enterprises Pvt Ltd and the ARC involved is JC Flowers. Colliers was the sole advisor for this significant deal, reaffirming its stance as the trusted market leader. The firm’s forward-thinking approach in identifying lucrative sectors such as hospitality and successfully navigating special situations emphasizes its visionary stance