The lease term of the Taj Palace Hotel, owned by the Indian Hotels Company, will expire on April 1, 2013, and it must settle a dispute with the Delhi Development Authority over the quantum of licence fee for a smooth renewal.
Shares of Tata Group companies on Thursday rose up to 10 per cent, with Tata Chemicals and Tata Teleservices among the major gainers. Tata Sons Chairman Emeritus Ratan Tata, who played a key role in transforming the group into a global conglomerate, passed away late on Wednesday. He was 86. "Investors can pay tribute to Ratan Tata and the great corporate empire he built by buying stocks like TCS, Tata Motors, Tata Steel, Tata Consumer and Indian Hotels.
This would be the fourth time the New Delhi Municipal Council would be giving an extension.
Corporate travellers can look forward to a plethora of offers with the 'Room for More' packages from Taj Group of Hotels.
Tata group controlled Taj Hotels Resorts and Palaces is in the lookout for tie-ups with international hospitality groups in Asia Pacific
Delhi government authorities on Tuesday issued an order asking luxury Taj Mansingh Hotel to have its rooms and premises be placed at the disposal of Sir Ganga Ram Hospital for using it as an attached COVID-19 facility.
The hotel has currently turned into a high security zone with guests living there moved out to other facilities of the Taj group.
The city's landmark five-star Taj Mahal hotel, popularly called the Taj Mansingh after the road it's situated on, is likely to get yet another lease extension.
The Taj Mahal Hotel, which completed 100 years of existence on Tuesday, will continue as the symbol of India's hospitality and warmth, Tata Group Chairman Ratan Tata said in Mumbai.
The decision was taken at a council meeting on Thursday after the home ministry wrote to the civic body to cancel the company's first right of refusal.
Tata's Taj Mahal Palace and Tower in Mumbai and Orient's Le Manoir Aux Quat'saisons at Oxfordshire, UK, are among the world's 17 best hotels for having food, according to the 2008 Gold List prepared by British magazine Conde Nast.
Marriott-Starwood, Carlson Rezidor and others are winning the tug-of-war for customers with local hotel chains as they add new properties at a breakneck speed.
Indian Hotels Company Ltd has secured New York-based Pierre Hotel on lease.
The Indian Hotels Company Ltd on Wednesday said the group has adequate insurance cover to repair and restore the damage caused to its property, The Taj Mahal Palaces and Towers in Mumbai, during the last week's terrorist siege.
When Indian Hotels Chairman Ratan Tata told shareholders at the annual general meeting earlier this week that the hotel chain, which operates the Taj group, continues to be impacted by the slowdown, he was merely echoing what P R S Oberoi, his counterpart at the East India Hotels (EIH), had said recently.
Tata-promoted Taj Hotels may decide to add the Nano to their line of chauffeur-driven cars used for guest transfers.
Burdened by debt from their rapid expansion in the last few years and the shrinking economy, many hotel chains are now casting around for buyers to sell their assets.
The reason why Jamsetji Tata built the Taj Mahal Hotel was his love for Mumbai and India. For him, the 'why' was so powerful that it urged him to stake his reputation, withstand all scepticism, and invest a very large sum of resources to create the iconic hotel.
The hospitality groups are also looking at a different and 'genuine category' of well-heeled religious tourists.
Tahawwur Rana, accused of involvement in the 2008 Mumbai terror attacks, is expected to be extradited to India from the United States soon. The US Supreme Court denied his last-ditch effort to stop his extradition, moving him closer to being handed over to Indian authorities. Rana's extradition is expected to help probe agencies expose the role of Pakistani state actors behind the attacks and shed new light on the investigation. He is associated with Pakistani-American terrorist David Coleman Headley, one of the main conspirators of the 26/11 attacks.
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.
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