Oberoi Realty buys out Sahana Group’s stake in Worli hotel for Rs 1,040 crore


The developer has purchased and taken possession of the under-construction hotel property on Dr. Annie Besant Road through its wholly-owned subsidiary Evenstar Hotels, the company said in a regulatory filing.

MUMBAI: Realty developer Oberoi Realty has bought out its partner Sudhakar Shetty-led Sahana Group’s entire 50% stake in an upcoming five-star luxury hotel property in Mumbai’s plush Worli locality for Rs 1,040 crore.

The developer has purchased and taken possession of the under-construction hotel property on Dr. Annie Besant Road through its wholly-owned subsidiary Evenstar Hotels, the company said in a regulatory filing.

Prior to the acquisition by Evenstar, the hotel property was owned by Oasis Realty, in which Sudhakar Shetty’s Sahana Group held 50% stake.

The property is a 221-key luxury hotel and will be operated and managed under the Ritz-Carlton brand. The hotel is part of the project Three Sixty West developed by Oasis Realty.


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