Tag Archive: HOTELSWYNDHAM HOTEL GROUPSAROVAR HOTELSBESSEMER PRIVATE EQUITYNEW VERNON PRIVATE EQUITY

Wyndham in talks to buy Sarovar Hotels at Rs500 crore valuation

US-based hotel chain Wyndham Worldwide Corp. is in advanced stages of talks to acquire Sarovar Hotels Pvt. Ltd, said two people directly familiar with the matter. The deal, if concluded, will mean a significant expansion for Wyndham, one of the world’s largest hospitality firms, in India. Wyndham currently operates 25 properties in the country, with another 28 in the pipeline, according to an October 2015 release on its website. “The transaction is still two months away from closure and discussions are on regarding valuations. At this point Wyndham has offered Rs.500 crore as equity valuation and it will take over the debt of the firm. The deal is taking time to close due to a lot of structuring involved in it,” said one of the two people cited earlier, both of whom spoke on condition of anonymity. An…
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