Air-India puts Delhi Centaur hotel on block | business | Hindustan Times
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Air-India puts Delhi Centaur hotel on block

Air-India has put the 376-room Centaur Hotel and two Chefair flight kitchens up for divestment in the second round.

business Updated: Oct 14, 2003 18:37 IST

Air-India has put the 376-room Centaur Hotel at Delhi airport and two Chefair flight kitchens of its subsidiary Hotel Corporation of India (HCI) on the block in the second round of disinvestment and sought Expression of Interests (EOI) to acquire the properties.

The flag carrier has retained JP Morgan India Private Ltd as a global advisor for the sale process, according to the Preliminary Information Memorandum (PIM) and sought parties to file their EOI before November 11, 2003.

Parties interested in acquiring one or more of the HCI's businesses on a going concern basis should have a combined net worth of at least Rs 25 crore to participate in disinvestment of Centaur Hotel IGI Airport and Chefair Delhi Flight Kitchen (Centaur Delhi), it said.

Apart from the luxury hotel close to the airport, the flight kitchen has a capacity to provide 8,000 meals per day.

The company has reduced its employees by 306 through VRS to 689 as on July 31 last.

The minimum combined net worth criteria for the Mumbai unit is Rs 2 crore which has a capacity to deliver 10,000 meals per day. It has reduced its employees by 69 through VRS to 460 as of July 31 last.

HCI had last year sold its two Centaur hotels -- Juhu property to hotelier Ajit Kerkar promoted Tulip Hospitality and the second at Mumbai airport, which was picked up by Batra Hospitality.

The sale of the second property kicked off a controversy as it was resold within a year by Batra to Sahara Group at a profit.