Apeejay Surrendra Park Hotels Limited has announced the acquisition of a 90% equity stake in Zillion Hotels and Resorts Private Limited, marking a strategic expansion into Mumbai’s premium hospitality market. The acquisition is set to be executed for a total cash consideration of up to ₹209.25 crore.
The deal was formalized through a binding Memorandum of Understanding signed between Apeejay Surrendra Park Hotels and the existing shareholders of Zillion Hotels — the Handa and Nair families. Upon completion, Zillion Hotels and Resorts will become a subsidiary of Apeejay Surrendra Park Hotels.
Zillion Hotels operates the upscale Z Luxury Residences located in the prime Juhu locality of Mumbai. The property includes 62 service residences and accompanying food and beverage facilities at 29/1 J R Mhatre Road, opposite Iris Park.
The acquisition does not involve any related party transactions, and no regulatory approvals are required. While an exact timeline for completion was not disclosed, the process will proceed as mutually agreed by both parties.
Apeejay Surrendra Park Hotels, known for its boutique and luxury offerings under brands such as “The Park” and “Zone by The Park,” sees this acquisition as a strategic fit to enhance its presence in India’s financial capital. The transaction is fully aligned with the company’s core hospitality business and adds premium real estate to its portfolio.
This move comes amid rising demand for high-end service residences in metropolitan cities like Mumbai, driven by a mix of corporate clients, long-stay travelers, and the city’s robust entertainment industry.
Industry experts see the acquisition as a timely investment, given the rising occupancy rates and demand for premium extended-stay accommodations in Mumbai. With this addition, Apeejay Surrendra Park Hotels further strengthens its position in the luxury and lifestyle hospitality segment in India.