Bangalore-based Royal Orchid Hotels has sold its Hyderabad five-star property Regenta One to Gurgaon-based hotel development and investment group SAMHI for Rs. 179 crore ($29 million)..K Law acted for Royal Orchid Hotels with a team led by Bangalore Partner Shwetambari Rao along with Associate Partner Abhinav Singh..Tatva Legal advised SAMHI with a team led by Partner R Vasudev along with Senior Associate Bhargava KS..The company has been following a strategy to sell assets for reducing debt and focus on management contracts instead of owning the property. Last year, it sold a hotel in Ahmedabad to PE-controlled Samhi Hotels for Rs 67 crore, according to VCCircle.
Bangalore-based Royal Orchid Hotels has sold its Hyderabad five-star property Regenta One to Gurgaon-based hotel development and investment group SAMHI for Rs. 179 crore ($29 million)..K Law acted for Royal Orchid Hotels with a team led by Bangalore Partner Shwetambari Rao along with Associate Partner Abhinav Singh..Tatva Legal advised SAMHI with a team led by Partner R Vasudev along with Senior Associate Bhargava KS..The company has been following a strategy to sell assets for reducing debt and focus on management contracts instead of owning the property. Last year, it sold a hotel in Ahmedabad to PE-controlled Samhi Hotels for Rs 67 crore, according to VCCircle.