New Delhi Municipal Council (NDMC) held an e-auction today for the property. This is the second of the three properties to be auctioned by it.
Midmarket segment operator Bloom Hotels emerged as the highest bidder to run the Asian International hotel in New Delhi.
New Delhi Municipal Council (NDMC) held an e-auction yesterday for the property. This is the second of the three properties to be auctioned by it.
Imperativ Hospitality, which owns Bloom Hotels, bought the right to operate the hotel on a 33-year lease period. This is the company's fourth hotel in Delhi.
The announcement comes a day after Tata Group-promoted Indian Hotels Company (IHCL) won the bid to run The Connaught hotel in New Delhi for a period of 33 years.
related news
The three-star, six storied Asian International has 38 rooms, in-house multi-cuisine restaurant and an outdoor swimming pool. The hotel, which was built in 1977, is a 10-minute walk from Rajiv Chowk and 20 minutes' drive from Indira Gandhi International airport.
The pre-bid document mentioned that the successful bidder shall pay to NDMC a non-refundable amount of Rs 44 lakh equivalent to 50 percent of the upfront fee.
Bidders were required to have at least 75 operational rooms in the preceding three years and an annual turnover of Rs 6 crore from hotel, lodge or resort operations during the same period.
Last year, an attempt was made to auction the property, and as many as 15 bidders had placed bids. The highest bidder won the rights to the property fetching Rs 45.5 lakh per month as license fee. The bidder, however, later refused to take over the property necessitating a re-auction.