Asian Hotels board proposes split into 3 independent units

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Asian Hotels board proposes split into 3 independent units

The board of directors of Asian Hotels, the owners of the Hyatt Regency properties in Mumbai, New Delhi and Kolkata, is proposing restructuring of the company into three independent undertakings.

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Mumbai June 15:

The board of directors of Asian Hotels , the owners of the Hyatt Regency properties in Mumbai, New Delhi and Kolkata, is proposing restructuring of the company into three independent undertakings.

It has said that the restructuring has become necessary as the three promoter groups have, since starting the hotel project, acquired "independent" interests in the hospitality industry.

In its explanatory statement to the shareholders recommending the adoption of the restructuring proposal, the board said that the development may create potential conflicts of interest, which could affect the company and shareholders.

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