Adani in talks with Accor, ITC Hotels to manage Jaypee hospitality assets

New Delhi: Adani Group is in talks with Europe's largest hospitality group, Accor, to manage some of the hotel assets it acquired as part of its takeover of Jaiprakash Associates Ltd (JAL), people familiar with the matter told ET.

While the talks are on for properties in Delhi and Agra, Adani is separately in discussions with ITC Hotels to manage Jaypee Greens Golf & Spa Resort in Greater Noida, the people said.

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"Accor could also make some investments towards refurbishments and upgrading these properties," one of them said.

The National Company Law Tribunal (NCLT) had approved Adani Enterprises' ₹ 14,535-crore resolution plan to acquire JAL, the flagship company of debt-ridden Jaypee Group. The deal includes real estate, infrastructure and hospitality assets of JAL.

Emails sent to Adani Group, Accor and ITC Hotels did not elicit a response until press time on Wednesday.

Spread over 900 acres, Jaypee Greens Golf & Spa Resort has India's first Greg Norman-designed championship golf course, besides 170 rooms and suites, seven dining venues and a spa spread over 90,000 square feet.

JAL's hotel portfolio also includes Jaypee Palace Hotel & Convention Centre Agra, Jaypee Vasant Continental, New Delhi, Jaypee Residency Manor Mussoorie, and Jaypee Siddharth New Delhi.

Adani Group has been looking at stepping up its hospitality play. Adani Airport Holdings (AAHL) and IHG Hotels & Resorts signed a managed hotel portfolio agreement in May to develop five hotels in select airport-linked, high-growth urban destinations in India.

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The portfolio is expected to add close to 1,500 keys and includes a Kimpton hotel in Jaipur as well as Holiday Inn and Holiday Inn Express hotels within upcoming hospitality-led mixed-use developments as part of the Adani airport cities. These hotels are planned across Navi Mumbai, Mangaluru and Thiruvananthapuram.

The two companies had said at the time of the announcement that they are also in advanced discussions to further deepen and expand this partnership.

Last month, Adani Airport City Ltd (AACL), a wholly-owned subsidiary of Adani Airport Holdings Ltd (AAHL), also announced plans to develop integrated airport cities across its airport network, bringing together hospitality, retail, entertainment, convention and commercial infrastructure.