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.
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.