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Sahara India buys Airport Centaur Hotel

In a surprise development, Sahara India bought over the recently privatised Airport Centaur Hotel, Mumbai from Batra Hospitality Private Ltd for an undisclosed amount.

"This is the first time that the Rs 16,000 crore (Rs 160 billion) Sahara Group has ventured in to buying a running hotel, though we have a presence in hospitality and airline business for quite some time," a Sahara Parivar official told said in Mumbai on Thursday.

"We see a lot of synergy in our operations" and we have taken total control of the management of the 288-room hotel from Batra Hospitality, which had in June bought over the property for Rs 83 crore (Rs 830 million) following the divestment of the Hotel Corporation of India.

The official declined to comment further citing confidential clauses in the sale agreement

The official said the agreement for the purchase of the property, which includes the controversial Indian Oil petrol pump adjoining the hotel, was signed Thursday evening.

"We will be taking up this issue now with the concerned ministries since the retail outlet, which has now been closed by IOC, was part of the property when it was divested in June", the official added.

Batra Hospitality had recently signed a memorandum of understanding with the US-based Carlson Hospital Group for using its brand franchisee. The Carlson group owns the Regent, Radisson and Country Inn brands.

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