Financial Daily from THE HINDU group of publications
Tuesday, Dec 17, 2002
Financial Daily from THE HINDU group of publications Tuesday, Dec 17, 2002 |
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Corporate
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Events Taj joins consortium bidding for AAI land Our Bureau
Mr Ratan Tata, Chairman, Tata group, with Mr Ravi Dubey, Senior Vice-President, Indian Hotels, at the 100th birthday celebrations of the Taj Mahal Hotel in Mumbai with a multi-religion prayer ceremony on Monday.
MUMBAI, Dec.16 THE Taj Group of Hotels, part of Indian Hotels Company Ltd, is to be part of a consortium of five-star hotels in Mumbai to set up a convention centre near the international airport in Mumbai, according to Mr R.K. Krishna Kumar, Managing Director of Indian Hotels Company Ltd. The other hotels in the consortium are believed to be Hyatt Regency, ITC Grand Maratha Sheraton and Renaissance at Powai. The consortium is expected to approach the Airports Authority of India (AAI) to bid jointly for the 18-acre land to build the convention centre. Speaking to reporters at a function organised to celebrate 100 years of Taj , Mr Kumar said ever since The Taj took over Regent and renamed it Taj's Land End, the hotel's occupancy rate has jumped. "It is currently at 88 per cent," he added. The Indian Hotel Company Ltd recently acquired substantial stake in Lokhandwala Hotels Private Ltd and consequently, The Regent Hotel in North Mumbai. The company is set to launch a "world class" spa and nightclub in North Mumbai by March 2003. Taj will also introduce two more restaurants in early 2003, he said.
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