Reliance checks into New York as Mukesh Ambani acquires luxury spot for $98 million

Mukesh Ambani backed Reliance is checking into the financial capital of the world with a super luxury address. Asia's richest man has decided to buy Mandarin Oriental, a premium luxury hotel in New York, for $98.15 million.

Overlooking the Hudson River, Central Park and the famous city skyline, the hotel offers rooms starting $1000 all the way to a suite that could set you back $14,000 a night.

Also watch: Ambani acquires UK's iconic country club Stoke Park

This is acquisition expands Reliance's horizon on hospitality. The group started the journey with investing in the iconic Oberoi Hotels (EIH) in 2010 and holds over 18% stake in the company. International expansion came last year for the Ambanis with the acquisition of the 300-acre Stoke Park country club in Buckinghamshire in London.