Sinclairs Hotels has received board’s approval for divestment of 2% of its holdings in Savannah Hotels. The company’s board gave their approval at its meeting held on March 20, 2013. Pursuant to this divestment, Savannah ceases to be a subsidiary of the company. The company earlier held 51.02% equity of Savannah.
The company presently operates in the hospitality sector; it owns and manages chain of hotels in India under the brand Sinclairs.