A Hollywood Favourite, Mandarin Oriental Luxury Hotel in New York to be Bought by Reliance for $98 Million

Reliance announced on Saturday that it has entered a pact with New York-based premium luxury hotel the Mandarin Oriental. The $98.15 million deal to acquire 73.37% of the hotel will add a feather to cap of the conglomerate. This decision through its wholly owned arm Reliance Industrial Investments and Holdings, makes the company among the top players in the Big Apple’s luxury sector.

The hotel is a landmark of the famed city, and naturally, it is everything that New York symbolizes in this modern world i.e charm, opulence, ethereal royalty and elegance. Here are a few features that make the hotel stand out:

• It is a 248 room and suites property at Columbus Circle that towers over the iconic Central Park.
• A favorite among Hollywood stars the hotel is frequented by Helen Mirren, Morgan Freeman, Isabelle Huppert and Liam Neeson among others.
• It’s ballroom is a popular venue for galas and fund raising events in the city.
• The hotel that was set up in 2003 has global recognition and has won several influential awards.
• It boasts of rooms that provide delightful views of the city’s iconic landmarks – Hudson River, Central Park, New York skyline etc.
• The hotel operates one of only two Forbes Five-Star spas in Manhattan.

A statement released by the group read: “This acquisition will add to the consumer and hospitality footprint of the group. The group already has investments in EIH Ltd (Oberoi Hotels), Stoke Park Limited in UK and is developing state-of-the-art convention centre, hotel and managed residences in BKC Mumbai. The closing of the transaction is anticipated to occur by the end of March 2022.”