Park Hyatt

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Park Hyatt Goa property to be acquired by ITC Group

Consumer goods giant ITC which operates The Luxury Collection and the Sheraton brand hotels in India for Starwood along with its own brands of WelcomHotel and Fortune has acquired the first Park Hyatt property in India, the 251 room Park Hyatt Goa Resort and Spa from state run lender IFCI Limited for approximately $83 million. The hotel owner Blue Coast Hotels Ltd. has been facing tough times of late. The company had pledged the property to IFCI in order to find the expansion projects it had been running to expand its portfolio of hotels in other cities namely the Sheratons coming up at Chandigarh and Amritsar, MGM Grand at the Delhi International Airport Aerocity and the Villas at the Park Hyatt Goa. The property features…

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