Indian Hotels puts loss-making Blue Sydney on the block

The hotel made net loss of Rs 2.17 crore on total income of Rs 55.79 crore in 2012-13

Indian Hotels (IHCL) has put Blue Sydney, company's only property in Australia, on the block. The company already received an offer for the hotel but it did not materialize in sale.

Blue Sydney is a 100 room 5-star hotel in Sydney’s Wharf Area.

It was purchased by IHCL in December 2005 from Starwood Group for Rs 117 crore.

It is a loss-making property of the company that made a net loss Rs 2.17 crore on a total income of Rs 55.79 crore in 2012-13.