Aman Resorts sale progresses

Aman Resorts sale progresses

India’s largest real estate company has confirmed its decision to sell its luxury hotel chain Aman Resorts, with the exception of Aman Hotel New Delhi, according to reports.

DFL appointed Goldman Sachs as an advisor for the sale of the luxury hotel chain it acquired in November 2007 for $400 million.

According to reports, Khazanah – the investment holding arm of the government of Malaysia, has expressed an interest in acquiring the group in a deal that is thought to be valued between US$300 – US$350 million.

DFL was hit by the economic which started in the middle of 2008. According to reports, the company is also seeking to sell its real estate joint venture with the Hilton Group.

A senior executive revealed: “DLF has decided to exit from the non-core businesses and focus on real estate development, including residential, commercial and retail. Since hotels are not a core business for DLF, it is looking at various options for Aman Resorts.”

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Aman Resorts, which was founded in 1988 by Adrian Zecha, is the world’s leading hospitality and lifestyle business and currently owns and operates 22 luxury hotels, many with residences, in 12 countries.

Well known properties within the group, which attracts guests including Victoria and David Beckham, include the famed Amanpuri in Phuket and Amandari in Bali.

In recent years, the company has been developing new properties in key locations around the world, from Asia, to Europe, the Caribbean and the US.