Oberoi Realty Consortium Acquires Bankrupt Hotel Horizon for ₹919 Crore in Mumbai
A consortium led by Mumbai-based real estate developer Oberoi Realty has agreed to pay ₹919 crore to acquire the bankrupt Hotel Horizon Private Limited (HHPL). The resolution plan was approved by the committee of creditors (CoC) on July 14, 2025.
MumbaiReal EstateHotel HorizonBankruptcyAcquisitionReal Estate MumbaiJul 15, 2025
The resolution plan provides for the payment of ₹919 crore and any additional amounts required to comply with applicable laws to settle the outstanding claims against HHPL, including unpaid CIRP costs. HHPL holds a prime piece of land measuring 7,500 square meters, overlooking the Arabian Sea and situated in Juhu, a premium residential micro-market in Mumbai known for its high-end real estate.
According to Square Yards Data Intelligence, a real estate data analytics firm, the average property prices in Juhu during the first quarter of the 2025 calendar year (Q1 CY25) stood at ₹71,597 per square foot, up from ₹71,106 per square foot in Q1 CY24. This indicates a stable and potentially growing market for high-end real estate in the area.
The resolution plan will be implemented through either the consortium or a special purpose vehicle (SPV) to be incorporated by the consortium, in accordance with the terms of the letter of intent and the order of the National Company Law Tribunal (NCLT), Mumbai Bench. HHPL is a Mumbai-registered company incorporated in December 1968, primarily operating camping sites and other short-stay accommodation services. Its authorized share capital was ₹20 crore, with a paid-up capital of ₹7 crore.
This acquisition marks a significant move in the real estate and hospitality sectors, highlighting the ongoing interest in premium properties in Mumbai's prime locations. The consortium's strategic investment in HHPL is expected to bring new developments and improvements to the Juhu area, further enhancing its appeal as a high-end residential and commercial hub.
Frequently Asked Questions
What is the total amount the consortium will pay to acquire Hotel Horizon Private Limited (HHPL)?
The consortium led by Oberoi Realty will pay ₹919 crore to acquire the bankrupt Hotel Horizon Private Limited (HHPL).
Who are the members of the consortium acquiring HHPL?
The consortium includes Oberoi Realty, Shree Naman Developers, and JM Financial Properties & Holdings.
When was the resolution plan approved by the committee of creditors (CoC)?
The resolution plan was approved by the committee of creditors (CoC) on July 14, 2025.
What is the size and location of the land held by HHPL?
HHPL holds a land measuring 7,500 square meters, overlooking the Arabian Sea and situated in Juhu, a premium residential micro-market in Mumbai.
What is the average property price in Juhu as of Q1 CY25?
The average property price in Juhu during the first quarter of the 2025 calendar year (Q1 CY25) stood at ₹71,597 per square foot.
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