Mumbai, April 24 -- The existing shareholders of Zillion Hotels are Handa Family and Nair Family.

Zillion Hotels and Resorts is in the business of owning and operating the Z Luxury Residences, including 62 service residences and food & beverage facilities located at 29/1 J R Mhatre Road opp Iris Park Juhu, Mumbai, Maharashtra, India, 400049.

The said stake has been acquired for a cash consideration of Rs 209.25 crore.

"Consequent to the aforesaid acquisition, Zillion Hotels and Resorts will become a subsidiary of the company," Apeejay Surrendra Park Hotels said in a statement.

Apeejay Surrendra Park Hotels (ASPHL) is a part of the diversified Apeejay Surrendra Group, based in Kolkata. The company has seven owned luxury boutique hotels...