Reliance buys New York’s premium luxury hotel Mandarin Oriental for USD 98.15 mn
   Date :10-Jan-2022

Reliance buys
 
 
NEW DELHI :
 
MANDARIN Oriental New York, the premium luxury hotel a subsidiary of Reliance Industries is acquiring, is known for its much-in-demand ballroom, five-star spa and eating and drinking venues, including MO Lounge. Liam Neeson and Lucy Liu are among regular guests. Set up in 2003, 248-rooms-and-suites hotel towering over Central Park is an iconic luxury hotel located at 80 Columbus Circle, directly adjacent to the pristine Central Park and Columbus Circle. Mandarin Oriental New York occupies floors 35-54 and is known for its much-in-demand ballroom, five-star spa and eating and drinking venues, including MO Lounge. Liam Neeson and Lucy Liu are among regular guests.
 
“Reliance Industrial Investments and Holdings Limited (RIIHL), a wholly-owned subsidiary of Reliance Industries Limited (“RIL”), has today, entered into an agreement to acquire the entire issued share capital of Columbus Centre Corporation (Cayman), a company incorporated in the Cayman Islands and the indirect owner of a 73.37 per cent stake in Mandarin Oriental New York, one of the premium luxury hotels in New York City for an equity consideration of approximately USD 98.15 million,” the firm said in a stock exchange filing late on Saturday. This is the second acquisition of an iconic hotel by Reliance in less than a year. In April last year, Reliance acquired Stoke Park Ltd in the UK - an iconic locale that’s been the setting for two James Bond films. The two iconic locales add to its current stake in Oberoi hotels and hotel/managed residences in Mumbai that it’s developing. The latest marquee acquisition for the oil-to-telecom and retail conglomerate marks its pivot toward consumer offerings.