S P Jain, managing director of the Pride Group of Hotels, has been scouting for assets in Mumbai and Hyderabad his firm can acquire as the five-star hotel chain seeks to expand in India’s hospitality market.
Jain and his team have not been able to conclude the deal with sellers in over a year though there are enough of them. Jain blames it on the wide gap between the results of the method used to evaluate an asset. “The seller wants the valuation of the business done on the basis of the value of the property whereas the buyer looks at the business potential of the ...
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