Park Hotels raise $55 mn from Credit Suisse

Mumbai, July 20: Apeejay Surrendra Park Hotels have raised USD 55 million for major expansion plans through a private equity deal with global financial giant Credit Suisse.

Apeejay Surrendra Group chairman Karan Paul while announcing the partnership said both share a deep understanding of the business and a vision for the future which will propel the company to a new level.

Apeejay Surrendra Park Hotels chairperson Priya Paul said, ''We have run a very successful hospitality business for over 40 years and our hotels are industry leaders in innovation and design.

This infusion of capital will be a catalyst enabling us to expand our footprint throughout the region.'' The Park Hotels has properties in Bangalore, Chennai, New Delhi, Kolkata, Navi Mumbai and Visakhapatnam.

UNI