Dharampal Satyapal Group has won the bid for Viceroy Bangalore Hotels, which owns the Marriott-managed five-star Renaissance Bengaluru Race Course Hotel, after bidding INR 300 crore ($40m). The hotel company has a debt of INR 1,100 crore. The group owns several brands and operates in the hospitality sector. Viceroy Bangalore Hotels received eight resolution plans from an initial 37 expressions of interest. The Dharampal Satyapal Group did not comment on the win.
