Luxury Hotel Assets for Sale in Jodhpur, India

72,000 sq. ft. property housing a 50,000 sq. ft. palace renovated into a luxury hotel.
This Business is on a Premium Plan
Ownership Duration
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Local Time
11:08 PM India
Listed By
Business Owner / Director
Status
Active
Overall Rating
Asset Sale
Asking Price: USD 44 million (Native Currency: INR 3,360,000,000)
Reason: The promoter intends to focus on other projects.
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Assets Description

- 72,000 sq. ft. (8,000 sq. yards) of prime real estate property located in an upscale area on a major road.

- The property is owned by a private limited entity with all of its compliance in order.

- The property houses a palace which was one of the residences of Maharaj Dhiraj Sir Bahadur Ajit Singh Sahib of the ruling royal family of Jodhpur.

- The property was converted into a 50,000 sq. ft. luxury hotel in 2000 with two multi-cuisine restaurants, a large swimming pool, and spacious big gardens sprawling all over the property.

- The property has more than 40 rooms of which around 70% are single suites and the remaining are deluxe suites.

- In addition to this, there are a few 4-BHK serviced apartments each spanning 2,950 sq. ft adjoining to the hotel.

- The property has been highly rated on all major online travel portals and welcomes about 1,000 guests a month including several local and international celebrities.

- The average occupancy rate is 55 - 60% and the average price point is INR 8,500 / night.

- The existing hospitality business / legal entity is not for sale and the new acquirer may choose to start any businesses at their own discretion. Only the asset / hotel property is for sale.

- Even though the property is a heritage hotel there are no Government restrictions to raze the existing building or any additional taxes / duties to be paid can construct up to 11 floors with a 70% floor-to-area ratio.

- Would prefer an outright sale of the property, however, the location is ideal to build a hospital and the promoter is also open to exploring a JV hospital project with the acquirer.

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Disclaimer: SMERGERS is a regulated marketplace for connecting business sell sides with investors, buyers, lenders and advisors. Neither SMERGERS represents nor guarantees that the information mentioned above is complete or correct.
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