An Indian hotel chain, run by Auro Investment, and a German international hotel giant, run by World Leisure Investment, made the highest offers on the hotel building lot next to Harpa, the new concert and conference center by the Reykjavík seaside.
Harpa. Photo by Geir Ólafsson.
Tenders for the lot opened last summer and six offers were made. Auro Investment, led by Bala Kamallakharan, specializes in the building of hotels, mainly in India but also in the US, ruv.is reports.
Kamallakharan knows the Icelandic business environment well as he used to work for the now defunct bank Glitnir. According to RÚV, informal acquisition talks have taken place between Aura Investment and Sítrus, which is the vendor.
World Leisure establishes luxury hotels and tourism services all around the globe. The hotels are run in collaboration with many of the world’s largest hotel chains and tourism companies, such as Hyatt, Radisson SAS, Sol Media, Starwood and Disneyland Paris.
According to RÚV, World Leisure’s representatives met with those of Sítrus yesterday.
Click here to read more about Harpa.