The board of directors of Taj GVK Hotels & Resorts Ltd, a joint venture between the Tatas-controlled Taj group of hotels and the Hyderabad-based GVK group, has decided to amalgamate Punjab Hotels Ltd with the company.
Punjab Hotels Ltd was formed at the time of the five-star hotel property in Chandigarh belonging to India Tourism Development Corporation was being acquired by Taj GVK Hotels in October 2002 through bidding process as part of the ongoing disinvestment programme.
Punjab Hotels, which is currently implementing the 130-room, five-star hotel, has subsequently become a 100 per cent subsidiary of Taj GVK Hotels.