Parsvnath Hotels, a wholly-owned subsidiary of Delhi-based real estate
developer Parsvnath Developers, is learnt to have formed a joint
venture (JV) with Bangalore-based Royal Orchid Hotels. The JV will
develop 10 hotels at an investment of Rs 500 crore. People close to
the situation said that Parsvnath holds a majority stake in the JV
called Parsvnath Royal Orchid Hotels. Royal Orchid Hotels, promoted by
CK Baljee, is listed on the Mumbai Stock Exchange, and re****ted net
sales of Rs 33 crore in the December quarter. For more detail visit
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