Tata Group's Indian Hotels Company Limited (IHCL) on Friday won the New Delhi Municipal Council (NDMC) auction to retain Delhi's iconic Taj Mansingh hotel after surpassing its rival, ITC Group.
Hailing Taj Mansingh as an "important part of the cultural and historic fabric of the national capital", IHCL MD and Chief Executive Officer Puneet Chhatwal rejoiced the decision and said that the company looks forward to taking the hotel to "new heights."
He further said, "We would like to thank our customers for their enthusiastic support and our employees, who have always offered exceptional service to our guests for over 40 years. We look forward to investing in the hotel and taking it to new heights of Indian hospitality. The Taj legend will continue to serve Delhi with elegance and charm," he said.
The property, owned by the NDMC, was given to IHCL on a 33-year lease in 1978, which ended in 2011. Since then, IHCL was given nine temporary extensions. However, the civic body could not auction the 292-room luxury property, as it was tied up in a legal battle with IHCL.
IHCL and ITC, the two leading hotel operation groups, were the only entities to submit bids for the luxury property.
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