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Mumbai, July 20

Apeejay Surrendra Park Hotels Ltd., owners of Park Hotels, has raised $55 million for its expansion plans through a private equity deal with Credit Suisse, a global finance company, according to a release. ICICI Securities and Amarchand Mangaldas were the advisors for this transaction.

Park Hotels has properties in the luxury boutique hotels segment in Bangalore, Chennai, New Delhi, Kolkata, Navi Mumbai and Visakhapatnam. The company is also coming up with a 280-room hotel and retail development in Hyderabad slated to open in 2008- 09. - Our Bureau

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