Reliance, Oberoi to jointly run three properties in UK, India

Aug 24 (Reuters) - Indias Reliance Industries (RELI.NS) said on Thursday it has agreed with Oberoi Hotels and Resorts to co-manage three property projects spread across India and the United Kingdom, deepening its foray into the hospitality industry.

Oberoi-run Anant Vilas in Mumbai and an unnamed planned project in Indias western state of Gujarat, and Mukesh Ambanis Reliance-owned Stoke Park in Buckinghamshire in the UK, will now be managed jointly by the two companies.

The Indian conglomerate last year paid nearly $100 million for a controlling stake in Mandarin Oriental New York, a five-star hotel in midtown Manhattan, through the purchase of its Cayman Islands-based parent.

No financial details were provided by Reliance for Thursdays agreement with Indian hotelier Oberoi.