Embassy Group buys 73.4% stake in Le Meridien Bengaluru

Real estate firm Embassy Group has bought a 73.4% stake in Mac Charles Hotels, owner of Bengaluru's Le Meridien hotel in a deal worth ₹640 crore. “Right now, we will bring the hotel under our hospitality vertical and run it for some time,” Chairman Jitu Virwani said. This will reportedly be the first significant hotel deal this year.