Distressed deals in hospitality biz on the rise
Owners of hotels and resorts are dialling real estate consultants in desperate efforts to sell their properties amid the demand destruction in the tourism and hospitality industry from the coronavirus pandemic.
These properties, which have gone on sale in the past two months, are valued between ₹50 crores and ₹500 crores each and include some of the top domestic and international hospitality brands.
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