Viceroy Hotels acquires SLN Terminus Hotels for INR 206 crore

Viceroy Hotels Limited announced the acquisition of SLN Terminus Hotels and Resorts Private Limited for a total consideration of INR 206.00 crore. This strategic move, approved by shareholders at an extra-ordinary general meeting, aims to expand Viceroy's presence in the hospitality segment. The acquisition is a cash transaction and is expected to be completed within one year.

SLN Terminus Hotels operates a Marriott-associated hotel in Hyderabad, featuring 75 long-stay rooms across 1,65,000 sq. ft. of leased premises. The acquisition includes the purchase of land for INR 1,05,65,47,332, inter-corporate loans of INR 40,67,19,630 to repay debt, and the purchase of equity and preference shares for INR 59,67,33,038.

For the fiscal year 2024-2025, SLN Terminus Hotels reported a turnover of INR 4345.21 lakhs, profit after tax of INR 598.39 lakhs, and a net worth of INR 864.32 lakhs. The acquisition is classified as a related party transaction, as Mr. S. Prabhaker Reddy holds directorships in both companies, but it was conducted at arm's length based on valuation reports.