Royal Orchid acquires property for Rs 82cr

Royal Orchid Hotels, a mid-tier hospitality chain in Bangalore, has acquired a property in the central business district of Bangalore for Rs 82 crore.

The company through its subsidiary Icon Hospitality has taken over Royal Orchid Central, which has 130 delux category rooms.

Royal Orchid since the past couple of years was managing this property under a license agreement.