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BCM Group has acquired The Golden Palms Resorts and Spa in Bengaluru, a 5-star hotel in Bengaluru, as part of its strategy to expand into the luxury hospitality segment in India. The company has acquired 100 per cent of the hotel’s assets from World Resorts Limited (WRL). The financial details of the transaction have not been disclosed.
With the acquisition, the company plans to transform the luxury hotel into a top wedding venue and meetings, incentives, conferences, and exhibitions (MICE) facility in India. This includes Sheraton Grand Palace (Indore), Le Meridien (Surat), and the upcoming Taj Hotel in Indore.
Commenting on the acquisition, Rajesh Mehta, Managing Director of BCM Group, said, “The resort’s amenities and strategic location in Bengaluru will cater to the growing demand for high-quality MICE venues, contributing to India’s goal of becoming a global economic powerhouse through enhanced business and market engagement”, in a release.
Aiming to expand its presence in South India, particularly in Bengaluru, the conglomerate plans to develop grade-A office and retail spaces, luxury residences, high-end hospitality properties, and advanced healthcare and educational facilities in the city. The group currently has over five completed and ongoing projects in Bengaluru, with several more set to launch in the next 12 months.
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