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Goldman Sachs brings in Rs255 cr into Vatika Hotels

NEW DELHI: US-based investment banking fund Goldman Sachs, through its affiliate, has taken equity worth Rs. 255 crore into Vatika Hotels, a company owned by the Vatika Group.

This follows the announcement of Vatika Group’s JV worth Rs. 150 crore with Singapore’s sovereign wealth fund GIC to develop two residential projects on Dwarka Expressway.

Commenting on the development, Gaurav Bhalla, MD of Vatika Hotels, said, “We are happy to receive the equity in Vatika Hotels from Goldman Sachs and are confident on the expansion of the Group.”

Vatika Hotels is the first to establish Starwood’s ‘Westin’ brand in the country and currently owns Westin Gurgaon and Westin Sohna with Jaipur and Pondicherry under active planning. It also owns and manages Vatika Business Centres operating 3,000 seats over .5 million sq. ft across India.