Private Equity

PE-RE Fund Investments

Blackstone acquires 50% stake in Taj Aravali Resort & Spa in Udaipur for $110-M

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PE investor Blackstone has acquired a 50% stake in Udaipur's Taj Aravali Resort & Spa from Mumbai-based realty firm Ishaan Group for an estimated USD 100-110 million.Taj Aravali Resort & Spa is a 180-key property operated by Indian Hotels Co. Ltd (IHCL), a Tata Group company, under a management contract. The property is scheduled for an upgrade to Taj Exotica Resort & Spa Aravali, which will include an additional 75 larger, suite-category keys.