VCCircle

Publicly-listed Advani Hotels said that it has sold its flight catering business for Rs 20.3 crore. The buyer's identity is not revealed, however, a report indicates that Switzerland-based Gate Gourmet, one of the world’s largest independent providers of airline catering and logistics services, could be the buyer. Advani's flight catering business is called Airport Plaza Flight Services, and is apparently the sole airline caterer at the Goa International Airport. The unit primarily caters to the requirements of charter companies and domestic carriers.
Advani's flagship property is a hotel in Goa called Caravela Beach Resort (Formerly Renaissance Goa Resort), a 202 room five star deluxe resort built on a 23 acres beach front.
This is the second deal in flight catering business. Blank check firm India Hospitality Corp. (IHC) had recently acquired Mumbai-based Mars Restaurants and its sister concern SkyGourmet Catering for about $110 million.