Indian Hotels Company (IHCL) will retain the capital’s iconic luxury hotel Taj Mahal (popularly known as Taj Mansingh after the road on which it is located) for another thirty-three years. The Tata Group company, which operates a chain of luxury hotels under the Taj brand, emerged winner in an e-auction conducted by NDMC, the city’s civic body. IHCL outbid ITC, the only other bidder for the hotel on Friday. The hotel is one of the key assets of IHCL and it brought revenues of Rs 2.2 billion in FY17.
Indian Hotels Company (IHCL) will retain the capital’s iconic luxury hotel Taj Mahal (popularly known as Taj Mansingh after the road on which it is located) for another thirty-three years. The Tata Group company, which operates a chain of luxury hotels under the Taj brand, emerged winner in an e-auction conducted by NDMC, the city’s civic body. IHCL outbid ITC, the only other bidder for the hotel on Friday. The hotel is one of the key assets of IHCL and it brought revenues of Rs 2.2 billion in FY17.