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Dharampal Satyapal Group (DS Group), a diversified corporation with interests in various businesses including FMCG, on Friday said it has acquired the Viceroy Bangalore Hotels Pvt. Ltd, following a bidding process. This marks the over billion dollar group’s expansion in the hospitality segment in Southern India.
Viceroy Hotels owns the Marriott-managed Renaissance Bengaluru which is situated on approximately 1.8 acres and has 275 rooms. This hotel is located strategically in the Central Business District.
The Hyderabad bench of the National Company Law Tribunal (NCLT) had approved Dharampal Satyapal Group’s resolution plan for Viceroy Bangalore Hotels in June. The company said it is now actively strategising approaches to elevate the hotel’s appeal and align it to its standards.
Expanding footprint
Rajiv Kumar, Vice-Chairman, DS Group, said: “With this acquisition, the DS Group expands its hospitality footprint and reinforces its continued commitment to the hospitality business. It marks a significant milestone in DS Group’s growth strategy and aligns with our long-term vision of providing unparalleled experiences to our guests.”
Also read: As room revenues soar, hotels sector seen attracting strong capital flows
The DS Group has as presence in in the hospitality business since 2000. Presently, its hospitality portfolio includes properties such as the Manu Maharani in Nainital and Namah in Jim Corbett National Park, which are both members of Radisson Individuals. It also owns Radisson Blu Hotel Guwahati, Crowne Plaza Jaipur and Holiday Inn Express at Kolkata Airport.
In a bid to expand its packaged food portfolio, DS Group decided had acquired the Good Stuff Company that owns LuvIt chocolate and confectionery in June. This move came close on the heels of the company’s partnership with Swiss chocolate brand Laderach for India. Its packaged food portfolio known for brands such as Catch Spices, Chingles , Pulse candy and Pass Pass.
Over the past few years, the company has acquired gourmet store chain LeMarche and French bakery La Opera.
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