BCM Group Expands Luxury Hotel Portfolio with Acquisition of The Golden Palms Resorts and Spa in Bengaluru

• This strategic move is set to transform the newly acquired resort into a premier wedding destination and MICE facility in India

Bengaluru, 31st July 2024: BCM Group, a leading Indian conglomerate with over 70 years of diversified business background, announces the acquisition of Bengaluru’s 5-star hotel, The Golden Palms Resorts and Spa. With 100% asset acquisition from World Resorts Limited (WRL), BCM Group has taken full ownership of the luxury hotel, and plans to transform it into a premier wedding destination and MICE facility in India.

The acquisition aligns with BCM Group’s strategic plans to expand into the luxury hospitality segment in India. Its existing luxury hospitality portfolio also includes 5-star properties such as Sheraton Grand Palace in Indore and Le Meridien in Surat (handover underway), along with an upcoming 450+ key Taj Hotel in Indore. The financial details of the transaction remain undisclosed.

The Golden Palms Resorts and Spa is renowned for its exquisite Moorish-Spanish cottage-style architecture. The resort boasts 150 luxurious rooms, a world-class spa, specialty restaurants with an exclusive vegetarian kitchen, a large swimming pool, a business centre, expansive conference halls, and diverse recreational facilities. BCM Group is set to revamp The Golden Palms Resorts and Spa into a Luxury Urban Resort with amenities of global standards. Plans include upgrading the hotel’s existing host of facilities and services, enhancing its design to revive its former glory, and addition of 50+ rooms. The existing management team at The Golden Palms and new team members will elevate the property’s service through extensive training and development programs.

“We are excited about the future prospect of The Golden Palms. By upgrading the property to meet international standards and enhancing its offerings, it’s our humble attempt to deliver a Luxury Urban Resort, benchmarked as one of the finest wedding destinations and MICE facilities for the country. The resort's world-class amenities and strategic location in Bengaluru will cater to the growing demand for high-quality MICE venues, contributing to India's goal of becoming a global economic powerhouse through enhanced business and market engagement. We are in the process to collaborate with some of the world's top hospitality operators to achieve this goal. We look forward to welcoming guests from around the globe to experience the refreshed and revitalised Golden Palms, which we believe will become a beacon of hospitality and a cornerstone of our legacy.”

Rajesh Mehta, Managing Director, BCM Group

With a legacy of over 70 years, BCM Group has established a robust, diverse real estate presence spanning sectors such as hospitality, education, healthcare, and manufacturing. Focused on enhancing its footprint in South India, particularly in Bengaluru, the conglomerate’s future plans include developing grade-A office and retail spaces, luxury residences, luxury hospitality properties, and advanced healthcare and educational facilities in the city. The group has 5+ completed and ongoing projects in Bengaluru, and some upcoming launches over the next 12 months.

About BCM Group

Established over 70 years ago by visionary founders Shri Badalchand Mehta and Shri Jugraj Mehta, BCM Group is a premier Indian conglomerate with diversified interests spanning key sectors such as real estate, hospitality, education, healthcare, and manufacturing. With a rich legacy of innovation and excellence, BCM Group is committed to positively impacting communities and leading with cutting-edge solutions that meet the needs of modern consumers and businesses. BCM Group's operations encompass an extensive real estate portfolio including residential towers, integrated townships, commercial complexes, and shopping malls. In hospitality, the group redefines guest experiences at prestigious properties like Sheraton Grand Palace in Indore and Le Meridien in Surat. The group’s education sector operates top-tier institutions dedicated to providing world-class education, while its healthcare division includes advanced facilities like BCM Kokilaben Dhirubhai Ambani Hospital in Indore and Raipur. Additionally, BCM Group’s manufacturing division focuses on producing high-quality, sustainable products that lead their markets. To know more please visit: https://www.bcmgroup.co.in/

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