Tuesday, September 21, 2021
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Kingfisher Villa piques interest of hospitality players


While auctions of several assets of defunct Kingfisher Airlines failed to attract even a single bidder, the plush sea-facing Kingfisher Villa Goa has invited interest from at least half-a-dozen players in the hospitality industry and a media group.

The 17-lender consortium led by State Bank of India, which took physical possession of the property in May this year after a long legal battle with United Spirits over tenancy rights, is auctioning it later this month.

The villa was owned by United Breweries Holdings, and mortgaged by the now-grounded Kingfisher Airlines to the consortium of banks to obtain loans in 2010.

Lenders had opened the villa for inspection to interested bidders in two slots — September 26-27 and October 5-6.

In the four days during which the property was thrown open, around half-a-dozen entities are known to have visited the palatial villa.

“The response was good. Nearly 6 to 7 parties from the hospitality industry and a media organisation have visited the villa,” a source said.

The auction of the villa, which was once used by the embattled Vijay Mallya to host lavish parties, will be conducted on October 19.

Lenders have fixed a reserve price of Rs. 85.29 crore for the beach-front mansion, with 12,350 sq mt area.

Banks as well as the service tax department had failed twice to attract bidders for the auctions of Kingfisher House in the city, Mallyas now-grounded luxe private jet (which is under the custody of the service tax department now) and the brand Kingfisher, due to higher reserve prices.

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