Royal Orchid subsidiary acquires hotel

Bangalore (PTI): Icon Hospitality, a subsidiary of Bangalore-headquartered Royal Orchid Hotels, on Thursday said it has acquired Hotel Royal Orchid Central for a consideration of Rs 82 crore.

Icon Hospitality had leased the property since 2003 and decided to effect a buyout so as to better control the product offering, Royal Orchid Hotels chairman and managing director Chender Baljee told reporters here.