Raymond N Bickson, managing director, IHCL, said the company’s agenda for global presence will primarily be through luxury properties.
MUMBAI: The Indian Hotels Company Ltd (IHCL), which runs the Taj Group of Hotels, is looking at exiting a few overseas management agreements as part of its stress on luxury brand positioning.
Raymond N Bickson, managing director, IHCL, said the company’s agenda for global presence will primarily be through luxury properties.
“Some management contracts we signed are not really in line with our brand positioning. Hence we are exiting them,” said Bickson.
It has discontinued association with three properties: Taj Denis Island in Seychelles, Sahar Beach in Oman and Taj Sheeba Saana in Yemen. “A couple more are in the pipeline, though we cannot disclose the locations at this stage,” said Anil P Goel, senior VP, finance, IHCL.
The chain will compensate for the loss through new contracts that will see the Taj flag fly on some of the most luxurious hotels.
“We have signed management agreements for our luxury brand Taj Exocita in Palm Island besides Doha that will mark our foray in the golf resort category,” said Ajoy K Misra, Senior VP, IHCL.
The group also plans to expand its serviced apartment business in key central business districts across India, which DNA Money had first reported on January 24, 2006.
Goel said the company has already inked a major deal and will launch five serviced apartment properties in the coming three to five years.
“We have entered into a management agreement with Sansara that will set up luxury serviced apartments across key Indian metros,” said Goel.
“We have entered into a management agreement with Sansara that will set up luxury serviced apartments across metros,” he said.
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