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Construction : Web Exclusive | November 2012 | Source : Construction Update

DB Hospitality may sell stake in Delhi hotel project

DB Hospitality is looking to sell stake in proposed hotel project at the Delhi International Airport and discussions are undergoing with potential buyers, said the firm's parent company DB Realty on November 21.

In a filing to the Bombay Stock Exchange, Mumbai-based DB Realty said that DB Hospitality (DBHPL), in which the company is holding stake, proposes to develop a plot as the Delhi International Airport's new hospitality district through one of its subsidiary SPV.

DB Hospitality has about 8 acre of land the near airport. DB Realty, however, said that it is not selling Hilton Hotel in Mumbai and Grand Hyatt property in Goa. Both Hilton Hotel (Mumbai) and Grand Hyatt (Goa) are being operated through the subsidiaries of DBHPL, it added.

Meanwhile, Bharti Group declined to comment on report that its arm Bharti Realty is buying stake in DB Realty's hospitality project in the national capital.

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