(ANSA) - NEW DELHI, 11 JAN - The richest man in all of Asia, the billionaire from Mumbai Mukesh Ambani, has been awarded the Mandarin Oriental hotel, temple of luxury in New York, for 98 million dollars. This was announced by the RelianceIndustries group, of which Ambani is president, which announced the acquisition of the Investment Corporation of Dubai, the company that controls 73.4% of the hotel, registered in the Cayman Islands.
The contract will be finalized within three months; Reliance has announced that it intends to acquire the inter-ownership if the other shareholders decide to renounce their holdings.
The purchase, the newspapers write, took place on very favorable conditions: in 2007, the value of the Mandarin, acquired in 2015 by the Investment Corporation of Dubai, was valued at 340 million dollars.
The Covid 19 pandemic has hit hard on the luxury hotel, the spearhead of the Manhattan hotel industry.
According to Reliance, in 2020 the hotel would have earned just 15 million dollars compared to 115 and113 in 2018 and 2019. (ANSA).