Indian Hotels to acquire US hotel for $60 million
Business Standard — April 3, 2007

Indian Hotels Company through its 100-per cent US subsidiary has approved a proposal to acquire Hotel Campton Place for $60 million (including estimated transaction costs).

According to a release issued by Indian Hotels to the BSE today, the hotel is intended to be acquired in partnership with financial investors. The sale-purchase agreement was signed yesterday and the transaction is scheduled to be completed by month end.

Hotel Campton Place is a 110-room luxury boutique hotel situated in Union Square in the heart of the Gateway city, San Francisco, on the West Coast of the US, the release added.