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The Marriott-branded property operates at SLN Terminus in Gachibowli, one of Hyderabad’s key business and IT hubs.
In a filing with the Bombay Stock Exchange, the company shared that shareholders of Viceroy Hotels Limited approved the acquisition at an Extraordinary General Meeting held on December 27.
As per the company information a senior executive involved in the discussions indicated that the transaction supports Viceroy Hotels’ long-term strategy focused on asset consolidation, expansion of its premium portfolio and sustained growth across major urban markets.
Viceroy Hotels has outlined plans to scale its portfolio to 1,000 keys by 2030. This growth will build on its existing base of approximately 470 keys, along with the addition of nearly 200 keys through an upcoming greenfield project in Hyderabad.
Of the total consideration of INR 206 crore, approximately INR 105.66 crore is allocated to land acquisition, while INR 40.67 crore is designated for settling inter-corporate loans and INR 59.67 crore for the purchase of equity shares.
Consequently, subject to the completion of due diligence and receipt of regulatory approvals, SLN Terminus Hotels & Resorts Pvt. Ltd. will become a wholly owned subsidiary of Viceroy Hotels Limited.
This article was originally published by the Restaurantindia.in. To read the full version, visit here 
