Reliance’s venture into hospitality is timely, especially at a time when hotel demand is set to outstrip supply over the next few years.
Indian conglomerate Reliance Industries Limited has joined forces with luxury hotel group Oberoi Hotels and Resorts to co-manage three hospitality projects spread across India and the UK.
Which Are the Three Properties?
- Anant Vilas in Mumbai: It is conceived as the first metro-centric property as part of the luxury ‘Vilas’ portfolio run by Oberoi. Located in the mixed-use destination of Bandra Kurla Complex in Mumbai, Anant Vilas seeks to augment the hotel footprint of the business district.
- Stoke Park, UK: This subsidiary of Reliance Industries Limited owns sports and leisure facilities in Stoke Poges, Buckinghamshire. The facilities include a hotel, sports facilities and a golf course. Oberoi will assist Reliance to upgrade the facilities and make it a world-class destination.
- New Project, Gujarat: This unnamed upcoming project in the western state of Gujarat is also envisaged as another iconic project to augment the tourism potential in the state.
Other Deals: Last year, Reliance paid nearly $100 million for a controlling stake in Mandarin Oriental New York, a five-star hotel in midtown Manhattan, through the purchase of its Cayman Islands-based parent.
Earlier in March, Reliance said it would foray into the hospitality industry under its new arm Reliance SOU, engaging in hotels, resorts, and service apartments that will provide short-term lodging facilities.
Source: Skift India
