Ownership of ultra-luxury Amanresorts may be in limbo again as the closure of the sale announced in December is reportedly delayed.
The management buyout from Indian real estate giant DLF by the chain’s founder Adrian Zecha was expected to close in February 2013, but that has not happened. Moneycontrol.com reported that according to anonymous sources, Zecha is still organizing the financing of the deal and DLF has yet to be paid.
The deal does not include the 207-room Aman New Delhi, Lodhi Hotel, which DLF will retain. DLF bought a 97% stake in Amanresorts in 2007 for US$400 million, which it later raised to 100%. However, the company is now prioritizing debt reduction.