Indian Hotels Company Limited (IHCL) which owns the Taj group of hotels is reported to be in negotiations to acquire Mumbai’s Sea Rock hotel from its Delhi-based owner the Claridges group. The deal is estimated at Rs. 650-700 crore.
The Claridges group has refused to comment on the take-over. Earlier this year, IHCL entered into a strategic arrangement with Claridges to provide technical and management assistance for restoration and operation of the hotel.
The deal would make a lot of sense for IHCL as its Taj Land’s End property is located just opposite the Sea Rock hotel at Bandstand. If the acquisition comes through, both properties combined will provide about 800 rooms to the city. Sea Rock hotel was closed down after the Mumbai bomb blast in 1993.
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