It’s only a matter of time before they run hotels in Buenos Aires, Sao Paulo and Mexico City.
Business Standard
The Taj Group of Hotels, owned by the Tata Group, is foraying into high-end business and luxury segments globally. “Spas have EBITDA margins as high as 30 per cent, making them highly lucrative,’’ Amol Rao, a hotel analyst at Pioneer Multimedia, said.Taj has entered business gateways such as New York, Boston and Sydney, whereas Taj Resorts and Spa is concentrating on leisure travel in exotic destinations including Phuket, Doha and Saraya islands of UAE. It is either purchasing the properties on an outright basis, as was the case with the New York and Boston properties, or getting into managing contracts for running the businesses.
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[...] Comments: none Pretoria – India’s Taj Hotels Resorts and Palaces has entered a joint venture to build and operate a R550 million hotel at Melrose Arch in Johannesburg.The owners and developers of the mixed-use precinct are the other members of the team. It will be the second five-star hotel in South Africa developed by Taj Hotels, which is part of India’s diversified Tata Group. A R450 million hotel under construction in St George’s Mall in Cape Town is due for completion by the end of next year.Garnesh TG, the development director of Taj Hotels Africa, a joint venture with Tata Africa, said that each of the hotels was expected to create about 350 direct jobs and another 500 indirect jobs. The group would next look at developing a hotel in Durban.The 148-room Taj Johannesburg, which will open in 2011, is one of two hotels to be built in the new development phases at Melrose Arch. Called the Piazza scheme, it involves a total investment of R1.72 billion and will provide 87 000m2 of office, hotel and retail space.Melrose Arch already has the five-star African Pride boutique hotel.Get entire story on – Business ReportRelated articles by ZemantaTaj Hotels forays into high-end business globally [...]