In a strategic move that reinforces its position in the luxury hospitality segment, Apeejay Surrendra Park Hotels Limited has acquired a 90% stake in Zillion Hotels and Resorts Private Limited, the owner and operator of Z Luxury Residences located in Juhu, Mumbai. The acquisition, made through a cash consideration of up to INR 2,092,500,000 (INR 209.25 crore), gives Apeejay access to 62 premium serviced residences and food and beverage facilities at one of Mumbai’s most desirable addresses.

This acquisition adds to Apeejay Surrendra Park Hotels’ fast-growing portfolio and aligns with its long-term vision of strengthening its luxury real estate offerings while also tapping into the high-growth serviced residences segment.

Location and Asset Profile

The acquired asset — Z Luxury Residences — is situated at 29/1 J R Mhatre Road, Opposite Iris Park, Juhu, Mumbai, a high-demand residential and commercial hub known for its premium clientele and connectivity. The 62 service residences are complemented by high-end food and beverage outlets, offering a holistic hospitality experience.

Zillion Hotels and Resorts Private Limited, the target entity, had been primarily managing and operating this real estate and hospitality asset before the takeover.

Deal Details and Structure

The acquisition does not fall under a related party transaction, confirming that there are no promoter or group company linkages to the target entity, ensuring that the deal is executed at arm’s length. The transaction is cash-based, and the consideration paid is set at up to INR 209.25 crore, subject to final adjustments and mutually agreed terms between the parties.

The 90% shareholding gives Apeejay operational control and strategic leverage to integrate the asset into its larger hospitality strategy seamlessly.

Business Synergy and Strategic Intent

This acquisition is in line with Apeejay Surrendra Park Hotels’ broader strategy to expand in India's metro cities by leveraging opportunities in the luxury and upper upscale segments. Serviced residences are witnessing growing demand from business travelers, long-stay guests, and even high-net-worth individuals looking for boutique luxury experiences.

The Juhu acquisition enhances the brand’s presence in Mumbai, an important business and cultural hub, while also establishing Apeejay’s footprint in the premium serviced residences market.

By acquiring Z Luxury Residences, Apeejay not only adds a landmark property to its portfolio but also strengthens its brand equity in high-end hospitality.

Industry and Economic Outlook

The Indian hospitality industry is undergoing rapid transformation, with a surge in domestic tourism, business travel, and international inbound tourism post-pandemic. As per multiple hospitality trend reports, there is rising interest in hybrid models such as luxury serviced apartments and co-living spaces.

This move by Apeejay reflects the company’s confidence in the post-pandemic recovery of the travel and hospitality industry, and its ambition to be a market leader in not just hotels, but also in urban luxury living.

No Regulatory Approvals Required

Interestingly, the acquisition does not require any government or regulatory approvals, simplifying the transaction and allowing a quicker integration of the asset into Apeejay’s operational pipeline. The time frame for completion has been kept flexible, depending on mutual agreement between the parties.

About the Target Entity

Zillion Hotels and Resorts Private Limited is a hospitality firm engaged in the ownership and operations of premium hospitality assets. The company’s main asset, Z Luxury Residences, is a fully operational project offering a blend of elegant service apartments and upscale dining options, making it a sought-after address for celebrities, corporate guests, and long-stay residents.

Over the last three years, the property has consistently attracted high-profile clientele and has emerged as one of the most recognized serviced residences in Mumbai.

Looking Ahead: Integration and Growth

With the acquisition now in place, Apeejay Surrendra Park Hotels is expected to bring in its operational excellence, branding strategies, and customer-centric design philosophy to rejuvenate and reposition the Z Luxury Residences under its own banner. There are expectations of upgrading the interiors, refreshing F&B offerings, and integrating the property into Apeejay’s loyalty and digital infrastructure.

The acquisition is a significant move that will likely enhance shareholder value, diversify revenue streams, and offer strong annuity income potential from premium service offerings.

Conclusion

This acquisition by Apeejay Surrendra Park Hotels is a landmark transaction in the Indian hospitality industry, signaling the return of high-value strategic takeovers in urban luxury assets. As consumer demand for experiential stays and lifestyle living increases, such acquisitions could become the new norm for forward-thinking hospitality brands.

This deal doesn’t just bring a property under Apeejay’s umbrella—it brings a whole new level of opportunity, visibility, and luxury presence in a key market like Mumbai. The combination of prime location, strong brand fit, and asset quality makes this acquisition a game-changing move for the company’s growth strategy in 2025 and beyond.

The Upcoming IPOs in this week and coming weeks are Ather Energy.

The Current active IPO are Tankup Engineers.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.