Apeejay Surrendra Park Hotels has entered into binding Memorandum of Understanding today for acquisition of 90% stake of Zillion Hotels and Resorts from its existing shareholders (namely Handa Family Shareholders and Nair Family Shareholders). Consequent to the aforesaid acquisition, Zillion Hotels and Resorts will become a subsidiary of the Company.
Zillion Hotels and Resorts is in the business of owning and operating the Z Luxury Residences, including 62 service residences and food & beverage facilities located at 29/1 J R Mhatre Road Opp Iris Park Juhu, Mumbai, Maharashtra, India, 400049.
Source: Business-Standard