Taj to open a hundredth lodge in Gurgaon

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Mumbai/New Delhi: The Taj group will open its a hundredth lodge on 7 March in its one hundred and tenth yr of operations. The 200-room Taj Vivanta will open in Gurgaon, simply exterior Delhi.

Taj Vivanta is positioned between luxurious Taj and mid-market Gateway lodges. Taj Inns Resorts and Palaces is run by the Tata group’s Indian Inns Co. Ltd (IHCL). Taj Inns additionally runs the Ginger financial system lodges.

Included by the founding father of the Tata group, Jamsetji N. Tata, the corporate opened its first property, the Taj Mahal Palace Lodge, Bombay, in 1903.

An IHCL government confirmed the event however declined to reveal particulars as a celebratory announcement is anticipated on 7 March. The Taj Vivanta at Gurgaon can be managed by the agency for property homeowners HB Property Builders Ltd.

Pavethra Ponniah, a hospitality analyst at ranking agency Icra Ltd, stated 100 lodges was an enormous milestone for any hospitality agency.

“Within the current previous, the Taj group has been capable of scale up quickly with restricted capital funding by leveraging the administration contract route,” Ponniah stated. “This technique has been working very effectively for the Taj group and several other different lodge corporations in India through the previous few years and has allowed corporations to broaden their footprint over many geographies whereas sustaining their capital construction.”

The a hundredth property begins operations at a time when enterprise is uninteresting, because of an financial slowdown in India. Lodge and room occupancy charges fell 10% and 1.6%, respectively, within the Indian subcontinent within the third quarter of the present fiscal. Elevated room provide has resulted in a 12% decline in income per room, based on an investor presentation by Indian Inns posted on its web site.

Raymond Bickson, managing director and chief government officer, Indian Inns, stated in February that there was an total 23% improve in provide within the 9 months ended December from the yr in the past. A lot of the provide, about 60%, has come within the upscale section, he stated.

Taj Inns has 16 world lodges in international locations such because the Maldives, Malaysia, Australia, the UK, the US, Bhutan and Sri Lanka, in addition to properties in Africa and West Asia.

In the meantime, IHCL is within the course of of creating one other bid to take over Orient-Categorical Inns Ltd, which runs a series of luxurious lodges around the globe, after being rebuffed 5 years in the past. The proposal is valued at roughly $1.86 billion, together with Orient-Categorical’s web debt, IHCL stated in a be aware in October.

Nonetheless, the Bermuda-based agency had rejected the Tata group lodge operator’s second takeover bid, saying the bid undervalued the corporate and was not in the perfect pursuits of its shareholders. However executives at Indian Inns stated they’re reviewing its choices to purchase Orient-Categorical.

On 31 March 2012, the Taj group had a list of 13,629 rooms. It has added 509 rooms in 5 lodges in 2012-13 and plans so as to add greater than 2,000 rooms over the subsequent few years.

p.r.sanjai@livemint.com

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