- Adani considers Accor to manage Delhi and Agra hotels.
- ITC Hotels in discussions for Greater Noida golf resort.
- Adani acquired Jaypee assets under $1.5 billion plan.
JAL’s hotel portfolio includes Jaypee Palace Hotel & Convention Centre in Agra, Uttar Pradesh, Jaypee Residency Manor in Mussoorie, Uttarakhand and Jaypee Vasant Continental and Jaypee Siddharth in New Delhi.
Accor would manage hotels in Delhi and Agra and may also invest in their renovation and upgrades, people familiar with the matter told The Economic Times. ITC would manage the Greater Noida resort if the discussions progress. The 900-acre property includes India’s first Greg Norman-designed championship golf course, 170 rooms and suites, seven dining venues and a 90,000-square-feet spa.
Adani Group has been actively building its hospitality footprint beyond the Jaypee assets. Adani Airport Holdings Ltd. and IHG Hotels & Resorts signed a managed hotel portfolio agreement in May to develop five hotels in airport-linked and high-growth urban destinations including Navi Mumbai, Mangaluru and Thiruvananthapuram.
The National Company Law Tribunal approved Adani Enterprises’ $1.5 billion resolution plan in March to acquire JAL, a company of the debt-ridden Jaypee Group. The deal included real estate, infrastructure and hospitality assets.
Separately, Adani Airport City Ltd., a subsidiary of AAHL plans to invest more than $2.32 billion in the first phase of mixed-use airport districts at six airports in five states.
