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Oriental Hotels sells Gateway Hotel to Varun Group

06 Oct 2018 Evaluate

Oriental Hotels, an associate of Tata group firm Indian Hotels Company (IHCL) has sold its Gateway Hotel Beach Road, Visakhapatnam to Varun Group for an undisclosed amount. IHCL will continue with the management and the overall operations of the hotel, while the hotel undergoes extensive renovation and enhancement.

The transaction is in synergy with IHCL's pivotal business strategy, aspiration 2022, aimed at unlocking higher value from efficiencies through a three-pronged strategy of restructuring, reengineering and reimagining the company's portfolio.

Oriental Hotels is an India-based holding company. The company is engaged in the business of hoteliering, including accommodation, restaurants and catering services.

Oriental Hotels Share Price

95.37 -2.43 (-2.48%)
24-Apr-2026 16:00 View Price Chart
Peers
Company Name CMP
Indian Hotel 637.90
ITC Hotels 158.45
EIH 327.05
Chalet Hotels 790.50
Mahindra Holi.&Resor 258.00
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