Tycoons rushing to check into hotels: Mittal, Ambani may diversify holdings

Sunil Mittal might be fighting a bitter telecom battle with Reliance Jio in India, but a few days ago he decided to invest over $1 billion to expand his hotels business in Europe and the US. This was done in partnership with London-based Sharan Pasricha, his son-in-law who runs Ennismore that develops, manages and runs the Mittal properties.   Mittal is, of course, not new to the hotels business. He dabbled in it in 2004, when he bought the 150-room five-star beach hotel Le Meridien in the Seychelles through his telecom venture in the country. The telecom czar then followed this up .....

Key stories on business-standard.com are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.

Most Read

Top Stories




Latest News

Todays Paper

News you can use