IHCL
Five years after the Indian Hotels Company (IHCL) acquired the landmark Sea Rock Hotel in Mumbai’s western suburb of Bandra, its plan to redevelop the asset and integrate it with the nearby Taj Land’s End still remains on paper. The project, said chairman Cyrus Mistry at IHCL’s 113th annual shareholders’ meeting, has been delayed because [...] Continue Reading »
Tata Group’s Indian Hotels Company (IHCL) can continue to run the Taj Mahal hotel located on Mansingh Road in Delhi by extension of the lease agreement if it pays the market rate after consultation with the New Delhi Municipal Council (NDMC), Attorney General Mukul Rohtagi has said in his legal opinion to the municipal body. [...] Continue Reading »
Tata group’s The Indian Hotels Co. Ltd (IHCL), which runs the Taj Group of Hotels, will add 30 hotels with 3,700 rooms and has committed Rs 440 crore for the next three years, according to Cyrus P. Mistry, chairman of the company. Addressing shareholders at the 113th annual general meeting, Mistry said the hospitality sector [...] Continue Reading »
The India Hotel Company limited(IHCL) which is a Tata Group company that has operated the Taj hotels, planned to introduce a mid scaled brand to cater to the growing number of travellers who have preferred the comfort of a category falling between the economy and upscale. The mid market brand will be able to gain [...] Continue Reading »
The Dutch pension fund now holds around 13% stake in mid-market hotel chain Lemon Tree. This deal has pegged the valuation of the hotel at approximately Rs 3,000 crore. With the help of this capital infusion LemonTree aims to have close to 8000 owned and managed rooms by 2017. Earlier the hotel company signed a [...] Continue Reading »
The Tata-owned Indian Hotels Company got another chance to operate the iconic Taj Mansingh hotel as the New Delhi Municipal Council did not have any feedback from the Solicitor General on the auction and the current lease expires on March 31. Mr. Jalaj Srivastava, chairperson of NDMC, says that the council has decided to give a four-month extension, [...] Continue Reading »
The New Delhi Municipal Council (NDMC) will not face any hurdle from the high court here in auctioning the Taj Mahal Hotel (popularly called Taj Mansingh hotel) in the national capital. There is no stay order on the auction. However, the court, in its final interim order on the matter on Friday, reiterated the Taj group of hotels [...] Continue Reading »
