VRMA Administrator
Indian multinational conglomerate Reliance Industries Limited, owned by Asia’s richest man, Mukesh Ambani, is set to foray into the hospitality industry under its new arm Reliance SOU, engaging in hotels, resorts, and service apartments that will provide short-term lodging facilities. According to the details available with the registrar of companies, the company is planning to develop properties in the west Indian state of Gujarat. In a stock exchange filing, Reliance said that it had incorporated a wholly-owned subsidiary called Reliance SOU with the intention of developing commercial properties. It did not elaborate on whether it would manage those properties directly.
Skift (03/26/23) Amrita Ghosh
