RIMC International and Sahil Group form joint venture to manage hotel projects in India, aiming to operate 20 properties by 2012 with an investment of three million USD.
Unitech to Sell 6 Hotel Projects to Reduce Expenditure
DLF-Hilton's joint venture faces regulatory delays for the Hilton Garden Inn project in New Delhi, but the partnership remains strong with 17 projects underway.
Several small real estate firms are selling hotel projects due to a market slowdown and cash flow issues. Projects in Ahmedabad, Bangalore, Pune, Chandigarh, and NCR are on the block.
Parsvnath Developers eyes stake dilution to control debt amidst rising interest rates, reports 16% drop in Q1 net profit.
Real estate slowdown impacts hospitality projects in India, causing delays and cost revisions. Stocks have plummeted, affecting real estate majors with hospitality holdings.