Indian Economy News

Goldman Sachs buys shares in Vatika Hotels worth Rs 255 crore

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  • December 24, 2014

New Delhi: Goldman Sachs Group, Inc. bought shares worth Rs.255 crore in Vatika Hotels Pvt. Ltd, a company owned by real estate and hospitality firm Vatika Group, the hotel company said on Tuesday.

This follows the group’s recent Rs.150 crore joint venture with Singapore-based Sovereign Wealth Fund GIC Pvt. Ltd to develop two residential projects on Dwarka Expressway in Gurgaon.

Vatika Hotels owns two hotels under the Westin brand of Starwood Hotels and Resorts Worldwide, Inc. The company also plans to open hotels under the Westin brand in Jaipur and Pondicherry. It also owns and manages business centres in various cities in India.

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