Large hotel chains bid for Centaur hotels
Accor Group, Hilton and Raffles are among 28 companies competing to buy out Air India’s five Centaur hotels, an Air India official said.
‘Virtually all the large hotel chains have bid. We are trying to go ahead with the sale as fast as we can’, said the official, who did not want to be identified.
The sale of the airline’s hotel subsidary is likely to be completed by the end of March 2001. The Business Standard newspaper said that apart from foreign hotel groups, Indian hotel majors such as Oberoi’s and Taj had also joined the race.
Most of the bidders have shown interest in two prime Centaur properties in Bombay and another in Delhi. Private airlines Jet Airways is seeking to buy Centaur’s loss-making flight kitchen, Chefair. The government said earlier the cash generated from the sale of the Centaur hotels would be used to buy new aircraft for Air India, which has an ageing fleet of 23 aircraft.