Delta Corp acquires stake in Daman Hospitality
Property World Bureau
July 27, 2011
Delta
Corp Ltd. has acquired a 51 per cent stake in Daman Hospitality Pvt
Ltd (DHPL), the Indian affiliate of Thunderbird Resorts. The
deal will see the opening of what is expected to be
India’s largest hotel-cum-casino property in Daman.
Thunderbird, listed on the NYSE Euronext Amsterdam exchanges is
into casino and hospitality services and focuses on markets in Asia
and Latin America, with operations in Costa Rica, Nicaragua, Peru
and the Philippines. It will continue to own 49 per cent in
the company along with original Indian partners and will run the
upcoming Daman hotel with a management contract. The Daman resort
is expected to feature 176 rooms, a shopping arcade and a vast
spread on both indoor and outdoor entertainment. The project is
expected to be ready soon and Delta plans to operate a casino in
the upcoming project as part of its business model of combining
hospitality and gaming.
The investment was arranged by the INTERAA Group with operations in
Mumbai and Singapore. The company’s real estate
services division offers financial and general consultancy services
for real estate projects in India.