MUMBAI: Leading hotel operator Accor and InterGlobe, a travel corporation, on Wednesday announced the establishment of an investment fund for a portfolio of India hotel assets. Accor and InterGlobe would each hold 32 per cent equity in the fund.An affiliate of Pacifica Partners (Pacifica) would take a significant stake of up to 36 per cent equity in this fund, subject to requisite regulatory approvals, a press statement issued here stated.
Pacifica Partners Private Limited is the asset manager to a joint venture hotel investment company established by an affiliate of GIC Real Estate Pvt Ltd and Host Hotels & Resorts. Full Story
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