According to multiple sources close to the development, Mercedes-Benz is already in talks with multiple developers in Gurugram for a luxury branded residence project.
Indian Hotels Company Ltd (IHCL) net profit rose 15 per cent in the second quarter after excluding the one-off exceptional gain of Rs 307 crore in the previous year. Net profit fell 45 per cent when compared with the previous year's earnings after including a one-off gain.
The Indian stock market in the October-November period sees high trading activity due to increased consumer spending, festive demand, upbeat sentiment, renewed investor confidence, and the auspicious Muhurat trading session. This impacts many stocks and sectors in the festive season.
'While the concept was introduced globally over four decades ago, branded residences have taken off now in India.'
Customised restaurant recreations, cafe setups, pop-ups by Michelin-star chefs, bespoke table linens with monograms and couple-themed hashtags.
Another trend: A preference for coloured diamonds among brides, who are pairing them with their groom's birthstone. So, along with yellow or white diamonds, they are choosing pink, green, blue sapphires, emeralds or red rubies.
Ratan Tata: A Life, the much awaited biography, reveals that after a year of 'parallel running', Tata began having second thoughts about Cyrus Mistry's 'suitability'. 'Mistry targeted Ratan, the man who had elevated him from virtual oblivion into the mainstream of the Tatas...'
Hospitality players want the government to accord infrastructure status to hotels to make investments on new properties more attractive rather than categorising them as luxury or even 'sin goods' in the upcoming Union Budget considering the sector's potential to play a key role in India's growth. They also want the government to consider incentives in the form of tax breaks or subsidies for adopting sustainable and eco-friendly practices, while asserting that the upcoming budget must accelerate the tourism agenda saying it is an opportunity to make Indian hospitality the emerging engine for GDP growth and employment generation.
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.
US-based Orient Express Hotels has termed the $1.86 billion acquisition offer by Tata group firm Indian Hotels as 'unsolicited' and said it will evaluate the proposal 'carefully and respond' accordingly.
On Tata's retirement in December, 2012, Mistry will take the charge of IHCL.
The Taj Hotel near India Gate will remain with the Tatas for one more year and will have the first right of refusal in an auction to be conducted within this period.
Indian Hotels Company Ltd board okayed sale of companys Taj Blue Diamond Hotel, Pune and Taj Residency Hotel Lucknow to PIEM Hotels Ltd for Rs 600 million and Rs 400 million respectively.
The Indian Hotels Company Ltd, operator of the Taj brands of hotels, on Monday formed a joint venture with Yunnan Tourism Co Ltd to develop and manage two hotels in China's Yunnan province.
Opening another chapter in aviation industry, G R Gopinath, the pioneer in low-cost carriers, had his Deccan Charters Ltd join hands with Taj Air, the executive charter service of Indian Hotels Company Ltd (IHCL), and Business Jets India Pvt Ltd (BJETS), to launch Powerfly.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Tata group's hospitality firm Indian Hotels Company Ltd (IHCL) on Friday said its 'Taj' brand has been rated as the strongest hotel brand in the world. According to the 'Hotels 50 2021' report by Brand Finance, Taj topped the strongest brands list for having stood resilient in spite of the challenges posed by the pandemic, besides other achievements.
Scenting opportunity in the budget hotel segment, diversified conglomerate Tata Group plans to construct 50 hotels of its no-frills chain Ginger -- across India in the next four years.
Indian Hotels buys 85% in Claridges subsidiary for Rs 680 crore.
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.
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.
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.
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.
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 has secured New York-based Pierre Hotel on lease.
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'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.
Days after the disbanding of Group Executive Council set up by Tata Sons ousted chairman Cyrus Mistry, N S Rajan and Nirmalya Kumar have resigned from their respective board positions at Indian Hotels Company and Tata Chemicals.
The tata group intends to invest Rs 1,500 crore (Rs 15 billion) in setting up 150 'value hotels' in India and abroad over the next five years.
NDMC to auction Taj Mansingh within three months.
In a departure from the past, when IHCL adopted the organic route for entering markets like London and New York, this time around the expansion will be acquisition-led.
Hotel companies said the conditions are not investor friendly and making money on the property could be tough in the initial years.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Hoteliers are tweaking their pricing strategies to adjust to the new stickiness in the market.
The sudden resignation and almost-immediate announcement of a successor came as a surprise to many.
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