Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
Colliers India successfully drove the sale of a 175-room boutique hotel in Bengaluru, collaborating with the Asset Reconstruction Company (ARC), Trustee, and the Bank. The hotel spans over 150,000 sq.ft. The property was part of a stressed asset transfer by Yes Bank to JC Flowers Asset Reconstruction in 2022. The present deal also serves as an exit strategy for the promoters, Hansoge Enterprises Pvt Ltd, who were aiming to liquidate the asset for quite some time. The mid-scale boutique hotel is near Bengaluru airport and is still under-construction. It is set to be completed by the end-2024.
Hansoge Enterprises, part of the Ozone Group, specializes in hotel projects across Bengaluru, Coorg, Kabini, and Chikmagalur. Hansoge Enterprises executed the Rs 150 crore deal for the 175-room hotel. The effective deal rate, around Rs 10,000 per sq ft, indicates the property's value. Colliers collaboratively engaged with JC Flowers Asset Reconstruction Company, trustee, and the bank, withholding the buyer's name. The strategic role played by Colliers India is underscored, providing an exit strategy for promoters and aiding buyers in establishing a metro presence.
Colliers India, the sole advisor for this significant deal, specializes in capital markets and investment services business for strategically navigating complexities involving the asset reconstruction company, banker, seller, and buyer, showcasing in-depth understanding. Colliers ventured into hospitality, recognizing the sector's resilience post-pandemic.
Managing Director Piyush Gupta highlights the intricacies, emphasizing the promising growth trajectory of the Indian hospitality sector, accounting for 51% alternative investments in Q4 2023. Industry estimates reveal 59 hotels with 4,669 keys were signed in Q3 2023, showcasing a 15.6% rise in average daily rates, resulting in a 15.1% revenue per available room increase.
The Covid pandemic severely impacted the hospitality sector, leaving hotels empty and driving many to bankruptcy. However, the sector now experiences a strong rebound, with increased travel, making this sale timely. Gupta notes the sector's potential for exponential growth, fueled by rising tourism, business travel, and a growing appetite for a better lifestyle.
In conclusion, the successful sale of the boutique hotel sale in Bengaluru reflects the strategic collaboration with various stakeholders and the larger industry trend indicating the hospitality sector's resurgence post-pandemic. Overall, Colliers India's role in this significant transaction reinforces its position as a trusted advisor in the real estate services domain.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
We use cookies to give you the best possible service while using our website, please click accept and carry on browsing if you're happy with this. For more information see our Privacy Policy.
Okay, Got it!This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Propscience reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Propscience for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Propscience will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 ("RERA") and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Propscience accepts no responsibility for keeping the information in this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Propscience does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention to third party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Propscience accepts no responsibility for the content, reliability and information provided on these third-party websites. Propscience will not be held liable for any personal information of data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Propscience is not liable for the same. All details regarding a project/property provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. To find out more about a project / development, please register/contact us to visit the site you are interested in. All decisions taken by you in this regard will be taken independently and Propscience will not be liable for any such loss in connection with the same. This Site is for guidance only. Your use of this Site - including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional - client relationship between you and Propscience. Propscience cannot accept you as a client until certain formalities and requirements are met.
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy