The Mumbai office of J. Sagar Associates (JSA) advised IL & FS Trust Company in their investment into Aria Hotels (Aria), a subsidiary of Asian Hotels (West) for a third of its stake.

The transaction is valued at Rs. 80 crore ($17 million) will give IL & FS a 33 percent stake in Aria. VC Circle reports that Aria has entered into a 30-year management contract with Marriott International to develop the first J.W. Marriott hotel in Delhi with 500+ guest rooms, which will come up within the hospitality district of Delhi International Airport's ‘Aerocity’. The project cost is estimated at around Rs. 700 crore ($155 million).

The JSA team for the transaction was led by Partner Akshay Chudasama and comprised of Senior Associate Anirudh Goyal and Associates Viplav Sharma and Udhav Gulati.

Delhi based T. Sengupta & Associates represented Aria.

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