Deals
Bharti Clan Plans More Hotels, Son-in-Law to Run Them
- Mittal family said to plan over $1 billion investment
- Half a dozen new Hoxton hotels are in chain’s growth pipeline
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The family of billionaire Sunil Mittal, who controls India’s biggest mobile-phone operator, plans to increase its bets in the hospitality business and partner with his son-in-law who runs the Hoxton hotel chain to manage those properties.
Bharti Global Ltd., a closely held firm that handles the founding family’s wealth, would fund the expansion across the U.S. and Europe, the group said in a May 29 statement. Ennismore Ltd., the firm headed by Mittal’s son-in-law Sharan Pasricha, will manage and operate the hospitality investments of Bharti Global, it said.