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Nifty ends above 5300, gain over 2% this weekFebruary 03 2012 16:25
Asian Hotels buys into Innovoa Hotels
MUMBAI(Makemystocks): Asian Hotels (West) Ltd has acquired 16.38% stake in Innovoa Hotels and Resorts Ltd for an undisclosed amount, the company said in a statement.
Asian Hotels proposes to acquire 34.11% more stake during the current financial year and make Innovoa Hotels its subsidiary.
Innovoa currently owns and operates The Clarion Hotels in Bengaluru, which has 130 rooms. Asian Hotels is perceived as a single location hotel company but the acquisition will change this view, the release said.
Asian Hotels proposes to acquire 34.11% more stake during the current financial year and make Innovoa Hotels its subsidiary.
Innovoa currently owns and operates The Clarion Hotels in Bengaluru, which has 130 rooms. Asian Hotels is perceived as a single location hotel company but the acquisition will change this view, the release said.
