Mayfair Group of Hotels has acquired the Palm Beach property of the Oberoi Group located at Gopalpur in Orissa at a cost of US$206 million (INR10 crore). The Oberoi Palm Beach, a heritage hotel, was the third oldest property of Oberoi Group, after those in Shimla and Kolkata. Mayfair intends to invest another US$517 million to renovate the property before reopening it around March 2012. The existing property has 19 rooms and post acquisition, the new owners will ramp up the room inventory to 35.
This will be the seventh property of the Mayfair Group which already has five-star properties in locations like Bhubaneswar, Goa, Darjeeling, Puri and Gangtok. Besides, three properties of the hotel major are under construction in Kolkata, Puri and Satapada.
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