Hoteltalk

IHCL eyes hotels in China, Europe, US, Australia

ETW Staff

The Taj Hotels Resorts and Palaces, part of the Tata-owned Indian Hotels Company Ltd (IHCL) and the largest hotel chain in the country, has plans to acquire five-star properties in China, Australia, United States, Europe, West Asia and Africa.

"We are in talks to acquire five-star properties in Shanghai and Beijing. Australia, Sydney and Melbourne are the potential destinations for acquiring properties. In the west coast of the US, we are exploring Los Angeles and San Francisco as possible options for a Taj property," Raymond Bickson, managing director, IHCL stated.

According to company sources, Taj Hotels is expected to make investments in the range of $50 million to $1 billion to take the Taj brand to new overseas markets. "We are eyeing properties at gateway points across the world", Mr Bickson added. Any significant acquisition in China, host of the 2008 Beijing Olympics, is seen as a major advantage for the hotel chain.

IHCL is also planning to take its budget brand indiOn overseas, and is aiming at South Asian markets like Bangladesh and Afghanistan, amongst others. Properties in Thailand, Dubai, China and Singapore are expected to be added by the end of the current financial year.