Zecha Buys Back Aman Resorts
In one of the most captivating hotel deals in recent times, the saga over the sale of the luxury chain of Aman Resorts has ended back where it began.
Indian owning company DLF hassold the group which has 22 hotels including assets for USD300 million.
The sale excludes the New Delhi property and has a closing date of February 2013 for the completion of the transaction.
DLF which is focused on real estate will use the proceeds to pay down debt. They have acquired the chain for USD400 million so this transaction represents a significant write down.
There is considerable speculation as to who is backing Zecha on the acquisition, which has the industry buzzing.