business-india-news

DDA renews Taj Palace Hotel's lease for 25 years

New Delhi, March 28 : The Delhi Development Authority (DDA) has renewed the lease of the Taj Palace Hotel for 25 years, it was announced here Thursday.


Situated in south Delhi's Sardar patel Marg near Chanakyapuri, the lease will come into effect April 1, 2013.

"The Indian Hotels Company Limited (Taj Group) is pleased to confirm that it has receivedtheconsent from the DDA confirming renewal of the license for the Taj Palace Hotel for a further period of 25 years," a statement said.

According to the hotel, it had originally entered into an agreement with DDA for the construction and license of the hotel for 30 years effective from April 1, 1983.

"IHCL has enjoyed a very cordial and beneficial business association with Delhi Development Authority over the past three decades and this recent development will further strengthenour partnership with DDAin the years to come," said Raymond Bickson, Managing Director and Chief Executive Officer, IHCL.

"The hotel has great equity in the industry owing to its superlative service standards, advantageous location and warm Indian hospitality," he added.

The hotel has hosted several world leaders and heads of state like French President Nicolas Sarkozy, former Chinese Premier Wen Jiabao, Russian Prime Minister Dmitry Medvedev, and former US Secretary of State Hillary Clinton.

--IANS (Posted on 28-03-2013)

business-india-news headlines

PepsiCo launches free talk time offer

TCS, Twitter launch app to track Indian Elections

India's software market grew at 10pc in 2013: Research

Anand Mahindra, Banmali Agrawala, Ellen Lord named USIBC directors

Sigvaris appoints NovoMed as distributor in India

AGP launches talent division

Hotel Sahara Star honoured with award

eBay, CAIT partner to benefit Indian traders

Wipro ups IT revenue forecast for first quarter

Germany's SCHOTT cleared of anti-competition charges

Wipro net up 41 percent in Q4

Sensex up 352 points; IT, bank stocks gain

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014

Comments

Your e-mail:


Your Full Name:


Type verification image:
verification image, type it in the box

Message:

Back to Top