Mumbai: Hospitality firm Bloom Hotel Group, part of Imperativ Hospitality Pvt Ltd (IHPL), has won the bid for Janpath hotel, a three-star property located at Delhi’s Janpath lane.
The Delhi-based hotel firm has outbid Tata group firm Indian Hotels Company Ltd (IHCL) and Byke Hotels and Resorts to acquire the 38- room hotel property which is also called Hotel Asian International.
New Delhi Municipal Council (NDMC) had auctioned the hotel which remain shut since 2015 due to default in payment of licence fee by its previous owner .
Bloom Hotel has emerged as the top bidder offering to share 39.5% of the revenue earned from the property, said an official who is aware of the development. The company won a 33-year lease contract with NDMC to operate the property, the person said.
“Central Delhi has limited accommodation for the value conscious traveler and with this hotel we aim to provide a world class product to guests both domestic and international,” said Sanjeev Sethi chief operating officer, Bloom Hotel in a statement.
The central business district area of the capital, which has an acute shortage of affordable hotel inventory, will greatly benefit from Bloom entering the market, the company said.
Bloom Hotel currently operates eight hotels in Bengaluru, Goa and Delhi. It plans to set up an additional 100 hotels across South Asia over the next 5 years.