CHOICE HOTELS INTERNATIONAL BUYS 60% IN INDIA UNIT

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The US-based hospitality giant Choice Hotels International has said that it has fully taken over the company's India business by acquiring the 60% stake of its franchise partners, for an undisclosed sum. The group said that after the buyout, Choice Hospitality India will be operated as a wholly-owned subsidiary. "We plan to focus extensively on developing resources for growing our presence in India, which now stands at 28 hotels," Choice Hotels International President and CEO Stephen P Joyce said in a statement. The stake has been bought from its franchise partners Sandeep Gupta and Sushil Gupta of Asian Hotels.

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