Indian Hotels News

Billionaire Ratan Tata, one of India's most popular and favorite businessmen, has more than 7 million Instagram followers. He has established a solid reputation as a people person because of his modest outlook on both life and business. Tata posted this image to Instagram and commented that their childhood was blissful because nothing could separate the two brothers.

Jhunjhunwala has increased his stake in the company from 2.10 per cent to 2.16 per cent in the quarter ended December 2021. Jhunjhunwala and his wife, Rekha Jhunjhunwala, have increased their stake in the hotel chain. He now owns 1,42,79,200 shares or 1.08 per cent stake in Indian Hotels, while Rekha holds 1,42,87,765 shares or 1.08 per cent stake.

The company in its annual report said the acquisitions were made "with the aim of promoting the 'Taj' brand and to expand the business and operations of the company."

Tata Group's hospitality arm Indian Hotels has called an extra-ordinary general meeting of shareholders to seek removal of ousted chairman Cyrus Mistry as director of the company.    

Cyrus Mistry received a major boost, with the board of directors of Indian Hotels Co Ltd unanimously supporting his leadership and continuance as chairman of the company.

Two Tata group companies, Tata Steel Ltd and Indian Hotels Co on Thursday said their financial statements present a true and fair value of their respective companies, in response to stock exchange requests for clarification.

About 39 per cent Indians tip the porter at the hotel whereas 24 per cent tip the valet, it found.

Tata Group hospitality arm Indian Hotels has said its overseas arm Samsara Properties has sold over 12.7 lakh shares of Belmond for a consideration of USD 11.96 million (over Rs 82 crore) to pare debt.

Consequently, the company has also issued a notice to Citibank N.A for termination of the existing depository agreements of the GDRs, it added.

Taj Group, owned by Indian Hotels, which is weighed down by mounting losses and heavy debt Monday said it sees the group turning around and reporting profit within two years.

Tata Group firm Indian Hotels Company (IHCL) on Thursday said its board has approved the proposed acquisition of the remaining stake in Lands End Properties for a sum not exceeding Rs 17 crore.

State-owned Life Insurance Corporation (LIC) has reduced its stake in Tata group hospitality firm Indian Hotels Company by 2.01 percent as it sold 11.75 crore shares in the open market.

In rights issue, shares are issued to existing investors as per their holding at pre-determined price and ratio.