Indian Hotels acquires 10% in Orient Express
Indian Hotels acquires 10% in Orient Express >Indian Hotels of the Tata group acquired 10% of Orient Express Hotels Trains and Cruises for about USD 211 million, reports Economic Times. Orient Express has 35 hotels in 25 countries.The company also operates cruises and luxury trains. RK Krishna Kumar, vice-chairman, Indian Hotels (Q, N,C,F)* Company (IHC) said that the company is aspiring to get associated with the global leaders. IHC indicated the possibilities of securing further stake in Orient Express.IHC acquired three foreign companies in 2005, contributing to 20% of its revenues.The company is intend ing to make a global presence. >Taj Group manages 59 hotels at 40 locations across India. The Taj Group, Rs 11.27 billion company, adds to 75-80% of hospitality sector.
These developments in the Indian hospitality industry are bringing in huge opportunities in the global market.
Shares of the company closed up Rs 1.00 , or 0.78%, at Rs 129.65. The total volume of shares traded at BSE was 270,635.( Monday ).
