Mahindra Holidays and Resorts, part of the $4.5 billion Mahindra & Mahindra Group has expanded its footprints further, with the acquisition of assets of AGS Hotels in Tamil Nadu's most popular tourist destination - Ooty.
According to sources, Mahindras has signed the deal for around Rs 30 crore for the 100 room resort, in the heart of Udhagamandalam (popularly called Ooty), overlooking the race course. AGS Hotels, a subsidiary of erstwhile SSI Ltd, purchased this property from the Dasaprakash Group.In subsequent transactions, PVP Ventures, acquired SSI Ltd and consequently AGS Hotels came under its belt.
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