Air-India will sell 376-room Centaur Hotel at Delhi airport and two Chefair flight kitchens of its subsidiary Hotel Corporation of India in the second round of divestment.
The airline has retained JP Morgan India Private Ltd as a global advisor for the sale process, according to the preliminary information memorandum; the expressions of interest for acquiring the properties have to be filed before November 11, 2003.
Parties interested in acquiring one or more of the HCI's businesses on a going concern basis should have a combined net worth of at least Rs 25 crore (Rs 250 million), it said.
Apart from the luxury hotel close to the airport, the flight kitchen has a capacity to provide 8,000 meals per day.
The company has reduced its employees by 306 through voluntary retirement scheme to 689 as on July 31 last.
The minimum combined net worth criteria for the Mumbai unit is Rs 2 crore (Rs 20 million) which has a capacity to deliver 10,000 meals per day. It has reduced its employees by 69 through VRS to 460 as of July 31 last.
HCI had last year sold its two Centaur hotels -- Juhu property to hotelier Ajit Kerkar promoted Tulip Hospitality and the second at Mumbai airport, which was picked up by Batra Hospitality.
The sale of the second property had kicked off a controversy as it was resold within a year by Batra to Sahara Group at a profit.