Taj in talks to buy 211-room New York Intercontinental

 The Indian Hotels Company Ltd, which runs the Taj Group of Hotels, is in talks to acquire the 211-room Intercontinental Hotel at Central Park in south New York.

 The hotel is expected to cost between Rs 300-400 crore, sources close to the negotiations said.

 The 25-storey boutique-style property in midtown Manhattan has 23 suites and one restaurant, and is considered one of the finer properties in Big Apple because of its classic European ambience, the sources said.

 The hotel is located close to Fifth Avenue Shopping and the Lincoln Centre. When contacted, a Taj Group spokesperson said: