Unitech Ltd, the countrys second largest real estate developer, today said it had sold the 199-room Marriott Courtyard hotel in Gurgaon for Rs 231 crore.
Unitech, which has raised $325 million (about Rs 1,625 crore) to retire part of its Rs 8,400-crore debt, plans to sell four hotel sites in Calcutta, Gurgaon and Noida in six months. In a presentation to investors, Unitech said it sold the Courtyard to a high net worth individual in Delhi.
As part of its strategy to deal with the slowdown in realty, Unitech is cashing in on its non-core assets by deleveraging through sale of assets like hotels, offices and infusion of private equity at the individual project level.
More : telegraphindia.com
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