Mumbai: Juhu-based (Mumbai) Tulip Star Hotel is up for sale. According to a report published in Times of India, the six-acre sea-facing property on Juhu Tara Road is being auctioned with a reserve price of Rs. 1,315 crore. The property is being sold out because owner V Hotes failed to repay a loan worth Rs. 235 crore.
The sale will be held for land, buildings and structures, machinery, plant, fixture and fittings. 1n 2001, V Hotels (then Tulip Hospitality Services) had acquisitioned the hotel under the divestment programme from Hotel Corporation of India for Rs. 153 crore.Read more
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