Indian real estate giant DLF is planning to sell its luxury hotel chain Amanresorts International Pte Ltd to HNA Group Co., Haikou, China, according to reports.
The Financial Express newspaper reported Tuesday that DLF is finalizing its sale of Amanresorts to HNA for 24 billion rupees (US$449 million), quoting anonymous sources. The deal “will be finalized” on January 15.
New Delhi-based Indian real estate developer DLF Ltd. owns Amanresorts. DLF is seeking to raise as much as 100 billion rupees (US$2.2 billion) through asset sales to repay debt, according to its latest annual report. HNA is one of at least five companies bidding for the 25-unit ultra-luxury boutique hotel company.
