DLF plans for international Amanresorts luxury resort chain less than two years after leaving the country A? the largest real estate company has acquired 50% ownership of the hotel chain based in Singapore.

DLF has had preliminary discussions with at least two Indian hotel chains sell or dilute its stake in Aman, but a huge gap between expectations and what buyers are willing to delay the talks, three paid executives in the industry in the vicinity of the development told ET

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certainly is an interest among potential buyersâ |.?????? but their offer price is too low for the price we paid for Aman in 2007 in comparison? said a DLF executive, who declined to be named.

he did not name a company that has expressed interest, but two industry executives said that preliminary talks with DLF Hotel ITC Hotels has had.

Private enterprise development. A spokesman said the company DLF did not intend to sell equity or diluting of Aman, while the ICC spokesman denied any involvement in the international chain. DLF can also opt for spin properties Aman Alwar in Rajasthan and two in Sri Lanka loss characteristics for particular investors or hotel chain Aman without the brand, said an industry executive to remain anonymous.

Amanresorts opened its first hotel in 1988, Amanpuri in Phuket, Thailand. Today it has 23 small luxury hotels worldwide, including three in India. It is very appreciated by the international rating agencies such as hotel Conde Nast Traveler and Zagat Survey ©. DLF has acquired 50% in Aman in 2007 in a transaction 0-0 Dollar estimated and a contract signed with Adrian Zecha, Founder and Chairman of Aman, to acquire a majority stake in the group.

This means that DLF may not be able to the company without the consent of Mr. Zecha that could be contacted for this story can not. In the past, while announcing companyâ? S had said falling interest rates in the hotel industry, Vice Chairman Rajiv Singh of DLF, the company wanted to keep that Haman is a sign of character.

According to executives, the company can increase its mind because of his need for money, have changed and also considering that the luxury hotels is fighting all over the world for over a year now with the global economic recession which a toll on business trips and leisure. DLF to raise a targeted Rs 5.500 crore through the sale of assets and business units separately, such as wind energy projects and community in Dankuni, West Bengal and Bidadi, Karnataka, fighting, to meet with the sudden drop in demand for homes, offices and businesses during the global recession.

It has already sold its small hotel project Saket, Delhi. He put on the block more than 10 hotel properties across the country, including in Gurgaon and Mumbai.

in early 2007, when the crane estate was at its height, had DLF wants to go to the hotel in a big way. Amanresorts also purchase plans to build 75 hotels in India in a joint venture with Hilton International chain. But when Hilton was taken over by private equity firm Blackstone, both partners have their ambitions only four properties

reduces Courtesy: -. And Dt: – 21 September 2009

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