Asian Hotels (West) Ltd

Asian Hotels (West) Ltd

Asian Hotels (West) Ltd was originally incorporated on January 8 2007 as a private limited company with the name Chillwinds Hotels Pvt Ltd. The company owns and operates hotels. In August 25 2007 the company was converted into a public limited company and the name of the company was changed to Chillwinds Hotels Ltd.The company entered into a scheme of arrangement and de-merger with Asian Hotels Ltd (now known as Asian Hotels (North) Ltd) and Vardhman Hotels Ltd (now known as Asian Hotels (East) Ltd) which became effective on February 11 2010. Pursuant to the scheme of arrangement and de-merger the Mumbai undertaking comprising of Hotel Hyatt Regency Mumbai along with shares held in Aria Hotels & Consultancy Services Pvt Ltd of the Asian Hotels Ltd was de-merged and vested in the company. The name of the company was further changed to Asian Hotels (West) Ltd with effect from February 12 2010. Upon the effectiveness of the Scheme Aria Hotels and Consultancy Services Pvt Ltd became the subsidiary of the company. The company executed Listing Agreement with the Bombay Stock Exchange Ltd (BSE) and the National Stock Exchange of India Ltd (NSE) and in August 5 2010 the equity shares of the company were listed for trading at BSE and NSE.The company acquired immovable property/ land approved for construction of a Hotel admeasuring approx. 4600 Sq. Mtrs at Pune Maharashtra at a consideration of Rs 7.43 crore from Inovoa Hotels & Resorts Ltd. In September 2010 the company acquired 16.38% stake in Inovoa Hotels and Resorts Ltd. Also the company plans to acquire an additional 34.11% in Inovoa Hotels and Resorts Ltd during the current financial year subsequent to which Inovoa Hotels and Resorts Ltd shall become a subsidiary of the company.The company's subsidiary company Aria Hotels and Consultancy Services Pvt Ltd is developing a 500+ rooms 5 Star Deluxe Hotel under the Brand J.W. Marriott at Delhi Aerocity near the Indira Gandhi International Airport at New Delhi which is expected to be operational by second quarter of year 2012. The total cost of the project is envisaged at approx Rs 700 crore.