Royal Orchid acquires property in Tanzania

Royal Orchid Hotels, a hospitality chain based in Bangalore, has acquired a 30 acre property in Dar Es Salaam in Tanzania through a buy-out route.

According to the company, the acquisition was made through a buy-out of Multi Hotels which previously owned the property in the capital city of Tanzania. Royal Orchid has not disclosed the cost of this acquisition.

Royal Orchid Hotels currently has properties in South India and is expanding to few other cities in North and West India. The company which has got private equity funding from Sequoia Capital during last calendar, is in the process of raising an additional $125 million to fund its expansion.