Bamboo Hotels & Global Centre (Delhi) Pvt. Ltd., a joint venture between Prestige Hospitality and Marine Drive Hospitality & Realty Pvt. Ltd., is constructing a hotel complex comprising of the St. Regis (189 rooms) and the Marriott Marquis (590 rooms) with total of 990 Bays, a large conferencing facility of 200,000 sq. ft and approx. 6.15 lakh sqft of leaseable office/business centre /Food & Beverage space titled as Prestige Trade Centre at Aerocity, New Delhi.
The property is leased out by DIAL to Bamboo Hotels for an overall period of 57 years including the lease extension of 30 years. The total BUA of the project is approx. 3.3 million sq.ft. and upon completion it will be the largest Hotel complex in India.
DB Realty Limited/ Company/DIJR intends to acquire direct shareholding of Bamboo Hotels for an aggregate value of Rs. 608.88 crores.
The transaction is subject to approval of shareholders, consent of lenders of Bamboo and approval of shareholders of D B Realty Limited. Upon completion, D B Realty Limited will hold 50% direct shareholding in Bamboo Hotels.