Ginger Hotels are the Tata Group's chain of budget hotels.
Indian Hotels buys 85% in Claridges subsidiary for Rs 680 crore.
The country's largest hotel firm, Indian Hotels Company, reported a net profit of Rs 234 crore, a fall of 38 per cent from the previous financial year.
Sea Rock Hotel, one of Mumbai's best-known landmarks since 1978, is changing hands for the second time in four years. Indian Hotels Company Ltd, owners of the Taj properties, on Friday said the company would buy the 400-room hotel located in Bandra from the Delhi-based Claridges, which had acquired the property in 2005.
Hotel Taj Mahal Palace and Tower, which came under terrorist attacks last month, on Saturday said it will reopen the rooms in the Taj Mahal Tower on December 21. The hotel will reopen at 7 pm on Sunday, December 21, according to a statement from Indian Hotels Company. The hotel's heritage wing (Taj Palace), which bore the brunt of the damage, however, would take some more time to reopen.
The Indian Hotels Company, the Tata Group firm which runs the Taj Group of Hotels in the country, is set to expand its offerings by getting into serviced apartments business and by widening the portfolio of its wildlife resorts.
After a silence of about three months, Orient-Express Hotels, the Bermuda-based luxury hotel chain, has finally broken its silence on the apology sought by Indian Hotels Company Limited.
Tata and Singapore's Briley Group are planning a business jet JV based on the fractional ownership model.
As several premium hotels such as ITC, Taj and Oberoi reopen after the lockdown in cities such as Bengaluru, Kolkata and Hyderabad, many changes have been made for the safety of guests and staff including temporary closure of spas, bars, gyms, and swimming pools.
Tata Steel and Indian Hotels on Wednesday said they have always made all relevant disclosures and have no further comments to offer following comments made by ousted Tata Group chairman Cyrus Mistry that Tata group firms could face a potential USD 18 billion writedown.
Orient-Express has rejected repeated approaches from Tata's Indian Hotels Company, with the issue turning into a public spat in December when the US group said it believed such an alliance would damage the value of its brands.
Roots Corporation Ltd, a 100-per cent subsidiary of the Tata Group-controlled Indian Hotels Company Ltd, will open its 'SmartBasics' hotel -- 'Ginger' at Nashik in the next couple of weeks.
Large chains like the Marriott and Taj that are estimated to consume two million plastic bottles a year have taken a conscious decision to first eliminate PET bottles on their premises and then reduce the use of single-use plastic altogether, saying they are all for a sustainably environment-friendly tomorrow.
Dubai Holding, an investment firm of the Dubai government, has threatened to come out with an open offer for Orient-Express Hotels if the Tata group acquires a significant stake in the hotel chain. This comes exactly a month after the Tata group's Indian Hotels Company bought 10 per cent and expressed interest in striking a deal which was turned down by Orient-Express.
This acquisition may be a precursor to an association with Orient-Express, which owns or part-owns and manages 35 hotels in 25 countries.
The company will raise Rs 844 crore through a rights offer for equity shareholders, while it will mop up Rs 900-1,080 crore through a similar offer for unsecured convertible debenture-holders.
Indian Hotels Company Ltd, the Tata group outfit that operates the Taj chain of hotels, is planning a rights issue to finance its expansion in India and abroad.
The contract has been entered into with Paranjpe Schemes Construction Limited and the new hotel will be a part of the Taj Business Hotels portfolio, a release stated.
Indian Hotels Company Limited, which runs the Taj Group of hotels in India and abroad, will promote the 'Ginger' brand across the country by setting up properties targetting the mass market.
Roots Corporation, a 100 per cent subsidiary of the Tata Group-controlled Indian Hotels Company, plans to open 29 new Ginger hotels across the country, including 12 in Maharashtra, in the next three years.
Indian Hotels Company Ltd has posted a net profit of Rs 111.70 million for the quarter ended December 31 as compared to net profit of Rs 60.10 million in the quarter ended December 31, 2001.
The hotel chain intends to have a worldwide presence and reduce its dependence on the home market.
Zubin Dubash, currently working as executive director with Indian Hotels Company Ltd, will join WNS Global Services, a business process outsourcing company, as its group chief financial officer.
Indian Hotels Company Ltd has raised $150 million through foreign currency convertible bonds issue, which was oversubscribed by more than 20 times, to fund acquisitions, expansion and modernisation in the country and abroad.
Indian Hotels Company Ltd's Ginger Hotels will invest over Rs 204 crore (Rs 2.04 billion) to set up 17 budget hotels in tier-II cities in the next 12 months.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Indian Hotels Company Ltd, operating the Taj brand of hotels, on Wednesday said it expects revenue from its International operations to be one third of the total revenue in the next five years
Indian Hotels Company Ltd has secured New York-based Pierre Hotel on lease.
Indian Hotels Company, the 100-year-old Tata Group hotel chain is attempting to rewrite the rules of the hotel business by launching 'budget hotels'. Take the Rediff Business Quiz and find out how much you know about the hotel industry.
Operating profit margin for the quarter grew to 21.3 per cent in the current quarter compared to 12.40 per cent in the previous corresponding period.
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