Reliance to acquire Mandarin Oriental’s flagship NYC property#Reliance #acquire

By Nikhila NatarajanNew York, Jan 8 : Reliance Industries Ltd, Indias largest corporate by revenues, profits and market value, has announced the acquisition of Mandarin Oriental Hotels flagship New York City property in Columbus Circle.This is the latest addition to the companys acquisitions worth $5.

6 billion across eight verticals (Morgan Stanley aggregation a day before the Mandarin Oriental deal).Located at 80, Columbus Circle, Mandarin Orientals New York property is on the corner of Central Park, New York Citys largest green space.

Its rooms overlook the Hudson River and are steps away from the Broadway Theater District, Lincoln Center, Central Park and about 20 minutes by foot from Times Square.Mandarin Oriental operates 35 hotels and seven residences in 24 countries, including six in the US.The Mandarin Oriental brand counts Irish born actor of ‘Schindlers List and ‘Taken fame Liam Neeson among its fans."Certain hotels get it; they get my industry.A lot of hotels dont.

The Mandarin Oriental gets it," Neeson says in one of 47 short videos from the hotels ‘Im a Fan series on its social channels.The latest New York deal is RILs second in the luxury hospitality sector in two consecutive years.

In 2021, RIL bought Stoke Park Ltd -- a 300-acre setting for two James Bond films -- for $79 million.Stoke Park, the first country club in the UK, is a private sporting and leisure estate in Buckinghamshire, a county in South East England.Reliance Industrial Investments and Holdings Ltd, a wholly-owned subsidiary of Reliance Industries, also holds 18.53 per cent stake in Oberoi groups EIH Ltd.A Morgan Stanley research note on ‘What is RIL Buying released January 7 shows RILs deal values across eight verticals totalling $5.69 billion.Telco leads ($2,508 mn), followed by new energy ($1,327 mn), retail ($ 629 mn), media and education ($ 688 mn), chemicals ($ 187 mn), digital ($ 111 mn), and hospitality ($ 79 mn).The note was prepared before the Mandarin Hotel acquisition was announced.Last week, RILs retail arm invested $200 million for a 25.8 per cent stake in Indian online delivery platform Dunzo, which operates across multiple industry verticals and provides hyperlocal delivery of products within 15-20 minutes.nikhila/arm Reliance Industrial Investments and Holdings Ltd is a subsidiary wholly owned by Reliance Industries.It also owns 18.53 percent of Oberoi Groups EIH Ltd.A Morgan Stanley research note titled What Is RIL Buying?, released January 7, shows that RIL has a total value of $5.69 Billion across eight verticals.Telco is the leader ($2,508 million), then new energy ($1,327 mil), retail ($ 629 mil), media and education ($ 688 mil), chemicals ($187 mn), digital $ 111 mn, and hospitality ($79 mill).

This note was made before the Mandarin Hotel acquisition.RILs retail arm purchased $200 million to acquire a 25% stake in Indian online delivery service Dunzo.

It operates across many industry verticals, and delivers products locally within 15 minutes.#Reliance #acquire #Mandarin #Orientals #flagship #James #Jan #New York #New York #Columbus #Lincoln .