BCM Group has acquired Bengaluru’s five-star hotel, The Golden Palms Resorts and Spa, the diversified group’s managing director Rajesh Mehta told ET without disclosing the financial details of the deal.
The resort, spread around 15 acres, has been acquired from World Resorts Limited.
Mehta said BCM Group has taken full ownership of the luxury hotel and plans to transform it into a “premier” wedding destination and MICE facility in India.
The group has interests in real estate, hospitality, education, healthcare and manufacturing,
Mehta said the acquisition aligns with the group’s plans to expand into the luxury hospitality segment in India. Its hospitality portfolio also includes five-star properties such as Sheraton Grand Palace in Indore and Le Meridien in Surat, besides an upcoming Taj hotel in Indore with 450-plus keys.
The Golden Palms Resorts and Spa has 150 rooms and suites, a spa, specialty restaurants with an exclusive vegetarian kitchen, a swimming pool, a business centre, conference halls and other recreational facilities.
Mehta said BCM Group plans to add 50 plus rooms to the resort and will partner with one of the top international hotel operators for the project after upgradation.
“There aren’t many getaways in and around Bengaluru and large MICE properties are still lacking in the city. We thought this would be a great acquisition and this saves almost five years of our time,” he said. “Acquiring land and permits takes time. It’s perfect for social events and is strategically located close to Bangalore International Exhibition Centre and the stadium. It’s a bit run down so we will upgrade the property. We aim to make it one of the finest destinations in southern India.”
The company will add 110 rooms to its 115-key Sheraton Grand Palace property in Indore. “Upgradation is in process with Le Meridien in Surat as well. By the end of this year, we should have a flag in place with 190 keys. The Taj hotel should be operational by 2028,” said Mehta.
