India's First Wine, Food and Hospitality Website, INDIAN WINE ACADEMY, Specialists in Food & Wine Programmes. Food Importers in Ten Cities Across India. Publishers of delWine, India’s First Wine.
                
                
India’s Retail Sector : A Developing Story  India in Numbers : Useful Statistics Wine & Health 101 : Frequently Asked Questions
Advertise With Us
Classifieds
US Report on Indian Market Released
Top Ten Importers of India
On Facebook
 
On Twitter
 
Delhi Wine Club

Posted: Friday, August 03 2007. 11:00 AM

Taj Looking for Bridge over Troubled Waters in USA

Earlier this year Taj group checked into the US market in style by buying out two luxury properties, Ritz Carlton in Boston and Campton Place at San Francisco, for a whopping $230 million. But it is already facing turbulent weather and is looking for a partner, reports NDTV Profit.

Just a few months after the entry, India's Taj is yet to find its feet in the US with occupancy rates on the decline. It has made the Tata group's hotel chain already scout for strategic partners for the two properties.

According to the report by NDTV, Indian Hotels (IHCL) has initiated talks with possible partners in North America who could pick up equity up to 49 per cent stake in Campton Place and Ritz Carlton, now renamed as Taj Boston.

IHCL had acquired Campton Place for $58 million and Ritz Carlton for $170 million early this year. While IHCL management confirmed that they plan to rope in a partner for Campton Place, they declined to comment on their plans for Taj Boston.

With the expected 10 million tourist arrivals in India by 2010, from around 5 million at present Indian Hotels is certainly bullish on its future growth prospects in the domestic market.

But sources say that with cutthroat competition and limited growth in some international markets, it will not be easy to break even on the new international acquisitions.

http://www.ndtvprofit.com

 
 

 
I Want to Comment ...
Name *
Email *

Please enter your comments in the space provided below. If you wish to write, mail your article to arora@indianwineacademy.com

 

Please note that it may take some time to get your comment published...Editor

 

Wine In India, Indian Wine, International Wine, Asian Wine Academy, Beer, Champagne, World Wine Academy

     
 

 
 
 
Copyright©indianwineacademy, 2003-2012 |All Rights Reserved
Developed & Designed by Sadilak SoftNet