Reliance Retail to Acquire New York’s Luxury Hotel Mandarin Oriental

Reliance Retail
January 10, 2022

Reliance Industries said late Saturday that it has entered a pact to acquire Mandarin Oriental, a premium luxury hotel in New York, for an equity consideration of around $98.15 million. It is a Strategical decision by reliance to diverse its business in hospitality. The company already had investments in EIH (Oberoi Hotels)